by Apoorva Komarraju
September 4, 2021
Here are the best cryptocurrencies to buy and invest in.
At this point there is no one who has not heard of cryptocurrencies. From the biggest cryptocurrency crash of this year due to the Chinese ban to the controversial tweets from Elon Musk and companies that accept Bitcoin as a means of payment, we see the hype about cryptocurrencies growing in real time every day.
While bitcoin continues to dominate the crypto sector, other promising altcoins are also making headlines as they become investor favorites. So obviously, Bitcoin isn’t the only crypto option to invest in. So, if you’re planning on buying cryptocurrencies this weekend to start your crypto journey, here are the 10 best stocks to consider.
In the cryptocurrency market, Bitcoin is equivalent to gold. From retail investors to prominent business people, everyone trusts Bitcoins. After the massive market crash in April 2021 that resulted in bitcoin trading for $ 30,000, the digital coin bounced back and traded at $ 50,000. The main reason for the value is its scarcity. There are only 21 million bitcoins in existence and around 19 million of them have already been mined.
After Bitcoin, Ethereum is the silver of the cryptocurrency market. Thanks to the Ethereum network that DeFi supports, many cryptocurrencies have renewed the concept of the “smart contract”. This utility function has made Etherum the second highest cryptocurrency on the market based on its market capitalization of $ 441.13 billion.
Cardano has something that attracts several seasoned investors. Cardano was developed as a “third generation cryptocurrency” that can solve common crypto problems such as scalability and security. While other cryptos borrowed codes from existing projects, Cardano was created code by code. His network can process smart contracts, DeFi, NFTs and everything else that exists in the crypto world.
Polkadot is a recently launched cryptocurrency that quickly became famous. Polkadot was created with the intent to use the “Proof of Stake” network verification system, which is touted as a better system than the “Proof of Work” used by Bitcoin and Etherum. Polkadot can handle multiple transactions, which makes it scalable. The versatility of this network allows it to be used for smart contracts, file storage chains, and IoT chains to enable device-to-device communication.
Ripple Labs’ XRP aims to create a fast and secure payment system that works worldwide. As one of the most reliable cryptocurrencies, it has a huge loyal investor base. According to the company, many financial institutions prefer this crypto RippleNet service that uses the XRP crypto coins. XRP’s payment system can compete with legacy systems like SWIFT and convert crypto to any fiat currency.
6. Peel off
Uniswap is a platform with its own reward token called UNI that works on the Ethereum network. The USP of these tokens is the fact that they can be exchanged between crypto users without trading them on centralized crypto exchanges like Binance. The USP is a hit as traders used the tokens, making it the best DeFi token by market cap.
7th chain link
Chainlink has a high level of ambition in the cryptocurrency market. Its purpose is to build a decentralized oracle network that can act as an intermediary between smart contracts and data sources. Basically, it makes smart contracts trustworthy by providing a secure, reliable connection. It’s also a core part of the DeFi system. Because of its usefulness, the World Economic Forum has named Chainlink as one of the 100 Most Promising Technology Pioneers of 2020.
The idea of cryptocurrencies is to make payments easier, and Stellar’s mission aligns with making cross-currency transfers easier. To that end, this crypto network has teamed up with International Business Machine Inc to create IBM World Wire. This collaboration enables fast currency transfer services to financial institutions around the world.
Elon Musk’s tweets revived that meme coin that should be forgotten by the world. Dogecoin served no purpose until billionaire Mark Cuban, owner of the Dallas Mavericks, decided the NBA team would accept Dogecoin as payment. Such celebrity incidents now made Dogecoin one of the most anticipated cryptos.
Aave’s purpose is to address the shortage of credit and loan applications on the Ether network. Aave has now become a DeFi pioneer for this utility. This crypto has nearly $ 5 billion in locked down assets, which is a third of the total market.
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