5 Cryptocurrencies to invest in 2021
Cryptocurrency is becoming more popular than ever before in 2021. There are just over 4,000 of them out there and it gets so much attention to the point that some governments in some countries have to come up with the law to parallel with. Lot of people started to get involved by investing their money considering whether they have knowledge in this field or not and expect to have a fortune return. Cryptocurrency is the riskiest market in the world. The prices could go up and down 30-50% or even more daily. It is important to know what you invest your money in. For more insight informants you can visit https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know Now, I will introduce you to the world of cryptocurrency and Here are the 5 cryptocurrencies to invest in 2021 that are found very interesting and most likely to do you a profit!
What is Cryptocurrency ?
Cryptocurrency is a digital currency that has no central authority to control its value. You could call it a digital asset where people invest in like mentioned above. It has a computer code as a path to exchange from one to another via the internet and it doesn’t have physical appearance. Because the cryptocurrency market alone is worth roughly around $1.8 trillion, many people call it a “Digital Gold” which I presume it’s not a bad AKA at all. The beauty of cryptocurrency is that you can actually purchase goods with it in some places and it’s fully secured under blockchain and it is not verified by the bank for any transaction!
Here are 5 Cryptocurrencies to invest in 2021
Bitcoin. Obviously, right? Bitcoin is the most well-known cryptocurrency out of all with an acronym of BTC. Some people don’t even know what cryptocurrency is but have heard of ‘Bitcoin’. It also has the most market capacity with $600 Billion or 66% of the entire market!! As crazy as it is, there are only 21 million bitcoins out there ever. From the graph since it was invented back in 2009, the price gradually goes up every year and it hasn’t come down . It doesn’t look like it’s going to either. I wouldn’t say it is the safest one to invest in but it’s definitely not the worst one and there are just 0.01 that you’re gonna lose all of your money from investment in bitcoin. Currently Bitcoin price is sitting at $58,800 or around 1,880,000 Thai Baht in March 2021. It increased more than 150% from last year. Elon Musk, Tesla CEO invested $1.5 billion which is equivalent to 45 billion thai baht in BTC. Tesla will also plan to receive bitcoin as another way to buy a car in the near future so, BTC is not a bad choice st all!
BTC Fun fact: In 2010, A guy named Laszlo Hanyecz bought two pizzas and paid with 10,000 bitcoins!!! which back then, 1 BTC stood just less than a penny while right now he could have bought an entire pizza company and still has a millions left. If Laszlo had a time machine, I know exactly what he would do.
Litecoin, LTC created by Charlie Lee, former Google employee in 2021 and it’s parallel to bitcoin. What I mean by parallel is that these two are just like Batman vs Superman or Adidas vs Nike in a cryptocurrency world. Although bitcoin price has already skyrocketed and if you feel like you missed that train to the clouds, litecoin is one very similar whether it’s increasing in price margin or the graph. Litecoin looks like it is going to be the tail of every cryptocurrency, but the price has increased just a little over 140% in 2020. It also can be used in Paypal!! That’s a big guarantee of how secure it is. Litecoin also presumably by the experts that it’s gonna be what’s called ‘privacy coin’ which basically means it’s gonna be the safest. Litecoin developers are working on lightening network protocols and smart applications (Mimble Wimble). Safety is not only a benchmark of litecoin, it also claims to be faster than bitcoin when the transactions occur. Litecoin has very high determination in itself just like humans that want to develop themselves everyday and that’s why litecoin is in the list. Litecoin has a market capacity of $13.2 billion or 396,000 million thai baht which is calculated to be 4. 06% of the entire market. The price currently sitting around $204.44 or 6,133.20 thai baht in March 2021.
3. Ripple (XRP)
Okay… Litecoin was fast when it comes to transactions but XRP is another level in terms of speed. I remember when I was studying in New Zealand a few years ago, my parents send me money via bank and I have to wait for a good 3-4 days till it appears on my bank, BTC was faster, around 6-7 hours, but we weren’t really into this cryptocurrency thing as much as we do now so we didn’t know that the XRP existed. XRP is an coin that has a company as its back which is called Ripple. Ripple solves a problem Ripple claims that XRP can do up to thousand transactions in a second which is equivalent to VISA. XRP has limited amounts and will be decreasing every transaction that happens as a fee. It cannot be mine so the prices are very strong. XRP has a market capacity of $26 billion or 780,000 million thai baht which is calculated to be 2. 06% of the entire market. The price currently sitting around $0.572 or 17.16 thai baht in March 2021.
4. Ethereum (ETH)
Ethereum is one of the cryptocurrencies that is just as famous as bitcoin and the second placed market with $205.5 billion or 6,165,000 million thai baht which is calculated to be 13. 25% of the entire market. The price currently sitting around $1927 or 57,900 thai baht in March 2021. Ethereum created by Vitalik Buterin in 2013. A 19 year old boy at that time saw a false in bitcoin and fixed it in the name of ethereum. The Ethereum enterprises alliance was developed by JP Morgan, Toyota, Intel and Microsoft. It is without a doubt why ethereum is one of the perfect coins to invest. From my personal experience, Ethereum is one of the safest coins if not the safest. It doesn’t go up or down as much as other coins do, gradually going up slowly. Ethereum used to have a reputation of only being able to do 15 transactions per second but it’s already fixed now. With those security and credibility, ethereum one interesting coin.
5. Binance Coin (BNB)
BNB coin was invented in 2017 by fundraising on Binance website which is a trading website for it’s a Forex or gold etc. Basically, Binance is a broker website and when they make a profit, they will spend that profit to buy a BNB coins which is their very own coins and burn them to create more demand and low supply. The burning process will continue every 3 months until there are only 100 million coins. Binance also has their own decentralization system like blockchain but called a binance smart chain and only uses BNB coins. BNB coins price has created a new high, massive bullish pattern for a second time for $278. BNB coin can be loaned out on binance trading websites with a low interest rate. It also can be used to book a hotel in partnership with the website. Because binance trading website is very well know and popular, to have a BNB coins in you pocket is very good choice. It may seem like the way they create the wants and needs in their products is a little bit obnoxious, but the coin itself is very successful in many ways. BNB coins has a market capacity of $55billion or 1,650,000 million thai baht which is calculated to be 6. 82% of the entire market The price currently sits around $308 or 9,240 thai baht in March 2021
These are 5 cryptocurrencies to invest in 2021
- 3.XRP Ripple
- 5.Binance BNB
Alright… Next are some motivational words by me and to conclude this post up…
The beginning of every big thing needs a little bit of recklessness, naughtiness and the you-can-do-it attitude when no one believes that it’s gonna happen. Mark Zuckerburg when he started Facebook, no one believed that it’s gonna happen. Steve Jobs got fired from his own company because the fact that he thinks differently from the board of directors. Elon Musk’s belief and visions in electric cars are something we never see from normal people. These guys believe in themself and get their heads down working when no one believes in them which is the reason why they are so successful. Cryptocurrency is a new thing, even though it gets so much attention, there are still a lot of haters out there. I would encourage or at least consider cryptocurrency as a way of investment in the present and future. These 5 cryptocurrencies to invest in 2021 in this post are top notch in 2021 and there are many more for you to find out! Every investment has a risk, every investor needs to understand the risk that they are facing. For more interesting topic related or unrelated to this please visit my-thai.org