Best Cryptocurrencies to invest in 2021
This article seems to be a bit late as almost 9 months have already elapsed in the year 2021. But there is no word like ‘delay’ in the world of Cryptocurrencies. The reason is the fact that crypto prices are too volatile and it gives enough chances to the investor to enter. Rather, the timing of investment in cryptocurrency is more relevant. In fact, the timing is the essence of every investment whether it is real estate, stocks, or bullion.
You would be surprised to know that there are more than 4,000 cryptocurrencies trading all around the world. Still, we have heard of very few, to name such as bitcoin, Ethereum, Tether, Dogecoin, etc. Most people treat “Bitcoin” and “Cryptocurrency” as the same but there are many other alternatives to ‘Bitcoin’. However, it will be difficult for you to choose suitable crypto out of the over-flooded market. We have come out with the names of some cryptocurrencies which have promising future and yield good returns in the years 2021 as well as 2022.
Also Read: Why Cryptocurrency? Why not Cryptocurrency!
Best Cryptocurrencies to invest in this year
Before telling you the names of the best cryptocurrencies to trade in, we would say that crypto prices are highly volatile so this is not the world for those with weaker hearts. Here is the list of some hot picks out which may change your fate.
Uniswap (UNI)
Uniswap is an Ethereum based DApp that enables users to trade Ethereum tokens via liquidity pools. Uniswap was introduced in September 2020 as a governance token that was distributed according to a set release schedule to those who had previously used Uniswap’s services. It employs an automated liquidity protocol that incentivizes people trading on the exchange to become liquidity providers. By supplying tokens to Uniswap liquidity pools, users can earn rewards while enabling peer-to-peer trading. Anyone can supply tokens to liquidity pools, trade tokens, or even create and list their own tokens.
Now coming to its prices, Uniswap traded at the all-time high of $43.85 (Average) on 05th March 2021. Presently, it is trading around $23 after touching a low of $ 17. Present prices offer investors a good opportunity to enter with a lower chance of downfall. Market capitalization is around $ 14 billion which makes it one of the leading market leaders.
Cardano (ADA)
Cardano was launched in the year 2017 by Charles Hoskinson (Co-founder of Ethereum) under the flagship of Input Output Hong Kong (IOHK). Cardano is one of the most popular cryptocurrencies because of its flexible network and fast transactions.
Some upward movements have been witnessed in Cardano after the recent update about the introduction of smart contract functionality on Cardano which offers developers the options to create and deploy their own decentralized application (DApps). It touched its all-time high of $2.97 (Avg.) on 04th September 2021. It has a market cap of around $ 75 billion presently. It is predicted by some enthusiastic researchers to touch the peak of $10 by year’s end. In the last 7 days, prices have seen some corrections and presently it is trading at $ 2.40. If it further corrects by 15%-20%, it will surely be a good bet.
Dogecoin (DOGE)
It was created in the year 2013 as a fun, low-stakes Bitcoin alternative. The Dogecoin name and Shiba Inu logo are based on a meme. Abundancy is the basic idea behind Dogecoin. Around 10,000 new coins are mined every minute. Thanks to Elon Musk for bringing Dogecoin to the limelight and making a fun-based crypto a prominent market player. Dogecoin has given exponential returns to investors in the year 2021.
Dogecoin touched an all-time high of $ 0.7066 in May 2021 and is presently trading at $ 0.2365 after touching a low of $ 0.1743 in June 2021. Dogecoin has already seen the bottoms and is in a recovery mood now. It seems promising at present levels.
Chainlink (LINK)
Chainlink was founded by Sergey Nazarov in 2017. Chainlink’s decentralized oracle network allows smart contracts on Ethereum to connect securely to external data sources. It is a cryptocurrency and oracle network which provides real-world data to blockchains. Chainlink has been recognized in the list of 100 most promising technology pioneers of 2020 by the World Economic Forum.
Talking about its prices and market capitalization, it has a present market cap of $ 12 Billion. Presently trading at $ 27 around after touching the peak of $ 51.21 in May 2021. It witnessed a sharp fall up to $ 14.31 in July 2021. Now, Chainlink seems to be in recovery mode and therefore gives good options to invest.
Caution:
Investing in Cryptocurrency is always a risky venture and undergoes high volatility even in day trades. Therefore, investment in cryptocurrencies should be made after due caution.
Disclaimer: The information contained in this article is meant only for educational and entertainment purposes. This information does not constitute any investment recommendation or investment advice or financial advice. Taxwink does not recommend investing in any cryptocurrency. You should be aware that crypto markets are highly volatile and risky. Readers are requested to make proper research before indulging in trading in cryptocurrency and also in consultation with a crypto expert. Taxwink is not responsible for any loss or damage caused due to the application of the above information by any reader.
