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Top 10 Most Promising Cryptocurrencies to Invest in 2021
Currently, there are more than 7,000 different cryptocurrencies worldwide, making it extremely difficult to choose the coins with potential for appreciation. This article will help you narrow down your options by introducing the top 10 cryptocurrencies based on market capitalization, popularity, and technological platform.
Top 10 Potential Cryptocurrencies List
Most Popular Cryptocurrencies for Trading
Bitcoin (BTC) - The King of the Virtual Money World
Bitcoin is the first cryptocurrency introduced in 2009, making it the most traded and most famous digital currency on the market. Known as “digital gold,” Bitcoin has proven its value over many years of operation.
In 2020, due to the impact of the COVID-19 pandemic, Bitcoin was seen as a safe haven for investors. The BTC price soared to a record high of over $40,000 USD, with a market cap reaching nearly $600 billion USD by the end of 2020. It is the most liquid cryptocurrency in the entire market.
With the economy still affected and support packages continuously issued, traditional investment channels have become less attractive. Recognizing this, many analysts believe Bitcoin will be an effective investment choice in 2021.
BTC Data (12/2020):
Ethereum (ETH) - The Decentralized Application Platform
Ethereum is the second most liquid and high market cap cryptocurrency. Unlike Bitcoin, which is just a currency, Ethereum is built on a smart contract platform (Smart Contract), allowing developers to build decentralized applications.
Ethereum is not only a transaction unit but also a platform creating an entire ecosystem of applications. Developers can create their own tokens running on the Ethereum platform. This makes Ethereum more practically applicable than Bitcoin.
Many experts believe that Smart Contract technology has broader potential applications than Blockchain itself, so ETH is forecasted to have a stronger price increase than BTC in the near future.
ETH Data (12/2020):
Litecoin (LTC) - The Improved Version of Bitcoin
Although ranked lower in market cap than Bitcoin, Litecoin still attracts many investors due to technical improvements over Bitcoin.
Litecoin processes transactions four times faster than Bitcoin. However, the total supply of Litecoin when mined out is 84 million, four times larger than Bitcoin. This means LTC is more suitable for daily payment methods.
In 2017, Litecoin became the first cryptocurrency to perform transactions via the Lightning Network. A single LTC transfer from Zurich to San Francisco in just 1 second demonstrated this technology’s capability. If the Lightning Network continues to develop and become more popular, Litecoin’s price is sure to rise significantly in 2021.
LTC Data (12/2020):
Ripple (XRP) - Global Banking Infrastructure
Ripple is known as “the leader in banking infrastructure.” Just one year after its founding, the XRP coin joined the ranks of the most traded cryptocurrencies worldwide.
XRP’s main appeal comes from faster transfer speeds than traditional Internet Banking and very low transaction fees. Currently, many major financial institutions use Ripple’s technology, including American Express, JP Morgan, and central banks from Saudi Arabia and other countries.
With a strategy of continuously expanding its network of partners and new customers, XRP is expected to continue increasing in value in the coming years.
XRP Data (12/2020):
Bitcoin Cash (BCH) - The Affordable Version of Bitcoin
Bitcoin Cash is the fifth-largest market cap cryptocurrency. BCH was created as a version with a smaller block size to make daily use of digital currency as a payment method more feasible.
Since Bitcoin remains the leader in the cryptocurrency market, Bitcoin Cash will continue to develop and be widely used. Despite debates around BCH since its launch, many investors still recognize its potential.
BCH Data (12/2020):
Most Promising Cryptocurrencies for 2021
EOS - The Decentralized Application Platform
EOS is a cryptocurrency built on a platform similar to Ethereum’s Smart Contract. Although launched after ETH, EOS has a significant advantage: transactions within the EOS ecosystem are completely free.
While it doesn’t have the dramatic price swings like BTC or ETH, EOS’s market cap and daily trading volume are trending upward. This indicates EOS is a promising coin to watch in the near future.
EOS Data (12/2020):
Tezos (XTZ) - Proof-of-Stake System
Tezos is a new player in the cryptocurrency world with great potential. Built on a Smart Contract platform, Tezos has notable advantages: strong security and a unique Proof-of-Stake system.
Unlike traditional profit-making through mining, Tezos’ Proof of Stake works like earning dividends. You just need to hold XTZ and periodically receive a share of the ecosystem’s earnings. This method promises an annual profit of 6-7%.
XTZ Data (12/2020):
MakerDAO (MKR) - Stablecoin System
Maker is a platform built within the Ethereum ecosystem to support and stabilize the value of the DAI coin. MKR tokens are created or destroyed based on DAI’s price fluctuations to keep it close to 1 USD.
MKR has proven its effectiveness after more than two years of operation, maintaining stability even during volatile market conditions.
MKR Data (12/2020):
TRON (TRX) - Content Sharing Platform
TRON is a cryptocurrency designed for a dedicated application within a decentralized ecosystem. Its goal is to ensure users receive rewards when sharing content.
TRON’s market cap has increased to over $1.8 billion in recent years. As the idea of earning rewards from content sharing becomes more popular, TRON’s application and value are expected to continue rising in the coming years.
TRON Data (12/2020):
Cardano (ADA) - Advanced Blockchain Technology
Cardano was developed by Charles Hoskinson, one of Ethereum’s co-founders. Its main features include scalability, interoperability between blockchains, and long-term sustainability.
Cardano’s technological infrastructure is highly regarded in the crypto community. By the end of 2020, ADA had a market cap of over $10 billion USD, demonstrating investor confidence in this project.
ADA Data (12/2020):
Why Invest in Cryptocurrency?
To understand why investing in digital currencies is worthwhile, first grasp the concept of cryptocurrency. Initially, digital currency was just a concept referring to currencies that do not physically exist and are exchanged online only.
With technological advancements and increasing internet users, digital currencies began to be traded more frequently. Bitcoin was the first cryptocurrency launched in 2009. By 2013, as Bitcoin’s price surged, the market exploded with numerous new coins. In just five years, over 1,500 different cryptocurrencies entered the market, and now the number exceeds 7,000.
Advantages of Cryptocurrency
Divisibility of Units Cryptocurrencies can be divided into thousands or even millions of units. This means you can invest with any amount, small or large.
High Liquidity Crypto exchanges operate 24/7, allowing you to trade anytime and anywhere.
Transparency Crypto operates on Blockchain technology, with all transactions publicly recorded. Anyone can view and verify these transactions.
Portfolio Diversification With over 5,000 different cryptocurrencies, investors can diversify their portfolios by investing in various coins built on different platforms.
Low Costs Transaction fees on Blockchain networks are much lower than transferring money through traditional banking systems.
Ways to Profit from Cryptocurrency Investment
Long-term Investment
This is the simplest way to profit from digital currencies. Since cryptocurrencies are considered the future of money, increasing usage will drive up their value.
Hold promising coins that you believe will be widely used in the future. Choose safe, highly liquid coins like BTC, LTC, XRP—those already popular in the market. Investing in unproven new coins may be cheap but risky, as they could disappear after a while.
Advantages: Easy to buy and sell, no need for frequent monitoring Disadvantages: Long wait to realize profits
Mining Cryptocurrencies
Coins derive their value from the effort required to mine them. Unlike gold, Bitcoin is mined using computers solving complex cryptographic algorithms.
This method is suitable for those with technological and programming knowledge who can optimize the mining process.
Advantages: Highest profit potential since you don’t need to buy coins Disadvantages: Not suitable for those unfamiliar with technology
Contributing to the Community
Coins developed on Smart Contract platforms allow you to earn money by contributing or sharing content on decentralized applications. Some gaming coins let you play to earn.
Advantages: Easy to earn digital currency Disadvantages: Requires significant time investment, earnings are relatively small
Conclusion
In this article, we introduced the top 10 most promising cryptocurrencies for investment in 2021. Based on this information, new investors can narrow down the list of coins to focus on.
A key piece of advice for investing in cryptocurrencies is to diversify your portfolio across many different coins, similar to diversifying stock portfolios. This approach helps minimize risks and increases the chances of profit in this highly volatile cryptocurrency market.