Introduction to Best Cryptocurrency Investment
Now, we have nearly 6,000 cryptocurrencies in the world, with an all-time high of $2.6 trillion market capitalization so which is the best cryptocurrency to invest in is the big question. Cryptocurrencies are accessible to everyone so everyone tempts to make their investment journey in the crypto world. As a beginner, there is so much confusion regarding which is the best cryptocurrency to invest in. Which exchange platform(wallet ) to use? How to diversify your portfolio? So, Let me help you with your investment journey by choosing which is the best cryptocurrency to invest in 2021.
To invest in the best cryptocurrency depends on so many factors like your risk appetite, the purpose of investment, and are you a day trader or long-term investment, etc, So before jumping to an investment you should do your analysis regarding yourself.
Parameter For Best Cryptocurrency Investment
- Read the white paper, every cryptocurrency has its white paper, the paper which describes the purpose, historical performance and technology behind that particular coin. It will give you a fair amount of knowledge regarding the coin.
- Check market volatility, as there are no indices to measure crypto price volatility, but you should once go through historical price charts to see that ascending peaks and depressive troughs occur at a quicker and more drastic pace in crypto prices and analyses your comfort level with such high and lows.
- Market capitalization, is based on the multiplication of the price of one coin and no. of coins in circulation. It gives you a fair amount of information regarding how many people are in its particular coin market. There is a slightly inverse relationship between market capitalization and the volatility of coins. So choosing cryptocurrency with a large market cap is advisable.
- Transaction cost, before investing you need to know the transaction changes per coin.
- Transaction speed, what is the speed of transaction of the coin is one of the parameters of picking cryptocurrency the faster the better to invest.
- Partnerships, who are partners company of that coin, the more reliable partners, the more trustworthy that cryptocurrency becomes to invest.
- Less supply, it’s essential to know the supply of currency, some cryptocurrencies are nature of finite supply and others are of unlimited supply. Less supply means a high price according to the basic law of demand.
List of 10 best cryptocurrencies to Invest
1. Bitcoin (BTC) (Cryptocurrency)
Market cap: Over $1.17 trillion
Market price: 47,14,858.81 Indian Rupee
Being released in 2009, Bitcoin has been around for the longest of any cryptocurrency. And became a long-term investment in the crypto world. It is one of the most popular coins on market. There are thousands of cryptocurrencies in the market then also bitcoin still has over 43% of the cryptocurrency market cap.
Many businesses already accept Bitcoin as payment and the larger banks are beginning to incorporate Bitcoin transactions into their offerings, too, making this cryptocurrency a smart investment. Visa, for example, transacts with Bitcoin. Besides, Tesla declared openly its an investment in bitcoins making it more reliable and popular among investors.
2. Ethereum (ETH) (Cryptocurrency)
Market cap: Over $520 billion
Market Price: 3,31,037.18 Indian Rupee
A programmer Vitalik Buterin proposed Ethereum in 2013, with an initial supply of 72 million coins. The network went live on July 30, 2015, and was crowdfunded in 2014. Ethereum stands apart from Bitcoin because it isn’t only a cryptocurrency but also a network that gives freedom to developers for creating their cryptocurrency using the Ethereum network. ETH is the second-largest cryptocurrency in terms of market capitalization. Ethereum can be employed for the production and exchange of non-fungible tokens (NFTs), decentralized finance, and many Initial Coin Offerings (ICOs).
3. Binance Coin (BNB) (Cryptocurrency)
Market cap: Over $88 billion
Market Price: 40,693 Indian Rupee
Binance Coin is among the few cryptocurrencies to reach its maximum after 2017. As there was a bull marketing therein particular time frame and therefore the price of all cryptocurrencies have risen and reached the heights before plateauing and decreasing in value but unlike other cryptocurrencies, Binance Coin continued to show a consistent trend upward after 2017. Based on historical performance data, Binance Coin has been confirmed as one of the more stable investment options, presenting occasional risks.
4. Tether (USDT) (Cryptocurrency)
Market cap: Over $70 billion
Market Price: 74.86 Indian Rupee
Tether is one of the first cryptocurrencies to be pegged to the US dollar. It launched in 2014. Tether is formerly known as a real coin. The Tether is a stable coin, a form of cryptocurrency that aims to hold cryptocurrency prices stable, against massive fluctuations. Tether is the third-largest cryptocurrency in terms of market capitalization with a total market capitalization of $24.4 billion and a per token value of $1.00.
5. Cardano (ADA)
Market cap: Over $66 billion
Market Price:145 Indian Rupee
The Cardano network’s smaller footprint is one of appealing among investors because it takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. That means it makes transactions faster and cheaper and also claims to be more adaptable and more secure because it constantly improving its technology to hacking free as much as possible.
6. Solana (SOL)
Market cap: Over $60 billion
Market Price: 15,895 Indian Rupee
Solana is popular among investors because of its13,300% growth since the start of this year.it is one of the fastest cryptocurrencies, can process 15 to 45 transactions per second and seen as a potential alternative to Ethereum by numerous investors, and has currently 350projects running on its network.
7. Shiba Inu (SHIB) (Meme Coin)
Market cap: Over $41 billion
Shiba Inu was created halfway to 2020. Shiba Inu is one of the newest so-called “meme” coins to form it big. Siba Inu runs on the Ethereum network. Its original price was $0.0000000014, SHIB still trades way below a one-cent but has risen immensely in value to $0.00007567, a 5,400,000% increase.
8. Ripple (XRP)
Market cap: Over $50 billion
Market Price: 86.3945 Indian Rupee
Soon after being released in 2021, XRP is cast out as privacy concerning Bitcoin because of qualities such as
- it is most comfortable in the darkness,
- relatively untraceable
- holds value, and
- confidentially can be created on home computers.
Ripple, one of the oldest blockchain projects in the world, and is different from other coins. As its goal is to make cross-border payments effortlessly possible. therefore it is used as a cryptocurrency and a digital payment network for financial transactions. ripple was first released in 2012 and then Ripple Labs created XRP as a payment token to be used on its decentralized payment system. One of the unique features of XRP is its use of a network of validation nodes rather than a blockchain.
9. Polkadot (DOT)
Market cap: Over $43 billion
Market Price: 3,411 Indian Rupee
Polkadot, created by Gavin Wood, Thiel Fellow Robert Habermeier, and Peter Czaban. Gavin Wood is also co-founder of the Ethereum Project and was formerly the Chief Technology Officer. Via the Polkadot relay chain, seems to improvise over all altcoins because of its blockchain interoperability, less costly transaction, and fast transaction speed. Polkadot aims to facilitate an internet where independent blockchain can share information and transactions without third-party involvement. Polkadot intends for the creation and connection of decentralized apps, utilities, and communities easier.
10. Dogecoin (DOGE) (Meme Coin)
Market cap: Over $38 billion
Market Price: 21.43 Indian Rupees
With a huge push by Tesla and SpaceX boss Elon Musk, Dogecoin started as a meme has become a forerunner of a new race of digital assets. This meme cryptocurrency Dogecoin has come a long way. The year 2021 has been a year of disclosure for the coin as it increases up to 15,000%. Doge has given a huge stimulus to all altcoins who were trying to make their existence in the crypto market. It is one of the hot coins in the market.
Apps for Your Cryptocurrency Investment
Hope this article will bring clarity to your crypto investment journey.
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