Cryptocurrency is spreading like wildfire and this would probably be shocking news to you from 10 years ago. For beginners, cryptocurrency is a digital or virtual currency that is secured through different computer-generated and cryptographic means.
In 2021, if you don’t currently own or haven’t invested in cryptocurrency, you may be seen as backward in the finance and investing circles. However, a key part of answering the question of whether or not you should invest in digital currencies is knowing more about it, what it means, and how it operates.
With cryptocurrencies being everywhere these days, you may be surprised to find that local shops and businesses have expanded their payment options to provide support for payment via crypto. More mainstream financial platforms are also adopting cryptocurrencies. A particular focus is on PayPal, a payment processing platform that announced the launch of its new cryptocurrency service that allows all of its users access to the digital currency for transactional purposes.
Many more organizations have incorporated cryptocurrencies into their structure and this widespread acceptance has played a huge role in the recent increase in the value of digital currency.
Should You consider investing in Crypto?
Cryptocurrency experts have predicted that the acceptance of Bitcoin, a major cryptocurrency, has charted a path of acceptance of the store of value in the tech and finance worlds.
With consumers enjoying more advantages in terms of greater choices, increased opportunities, greater independence, and more, cryptocurrency may just be the next best investment for everyone.
While many people consider delving into cryptocurrency in the new year, there is a need to understand where to put money to ensure a steady increase in its value.
To ensure that you are investing right, below are the top cryptocurrencies to invest in based on the recent trends in cryptocurrency news.
If you are faced with the option of whether to invest in Bitcoin or not, the best answer is Yes. In recent times, the value of this digital currency has peaked, doubling, and even tripling. The digital currency also exceeded its projected F95zone value mark which is a pointer to its increased demand.
Rated the king of cryptocurrencies, putting money in Bitcoin offers a projected boost in financial stability as the cryptocurrency has experienced a steady rise from $4,721 in late March of 2020 to cross the $40,000 mark by the first week of January 2021.
Projections also hold that the price of the cryptocurrency may increase to as high as $120,000 which is at least six times the value of its last peak which stood at $20,000.
Ethereum has witnessed a steady rise in popularity over the years and has rapidly become the heir to the Bitcoin throne. While not doing the numbers recorded for Bitcoin, the cryptocurrency is not doing bad for itself in terms of its value. as one of the major digital currencies in the market, Ethereum has remained a strong player in the market with a market cap pegged around $138 billion.
Ethereum remains one of the strongest contenders in the cryptocurrency market and has continued to expand its lead even during the uncertainties surrounding the year 2020.
Ethereum in the latter part of the year 2020 hit the $1,000 price mark, its highest throughout the year, and remains on a path to charting more numbers.
Litecoin is valued at $170.56. however, it wasn’t always at this price. Rated one of the most bullish cryptocurrencies in the market, Litecoin has been able to push itself into the major leagues after having witnessed as much as 8000% growth in 2017.
While many people consider Litecoin to be a spinoff to Bitcoin, the cryptocurrency has continued to prove itself in the market by showing up and being relevant in its space.
Bitcoin Cash – BCH
Bitcoin Cash made its first major debt in 2017 and has continued to push through in the market. Having succeeded in wooing those who are majorly interested in investing, BCH remains strong with a market cap pegged at $8.2 billion.
While predictions for the future of this cryptocurrency vary from expert to expert, one thing is important, the positives far outweigh the negatives.
StormGain, a major cryptocurrency trading platform has predicted the rise of the coin’s value to as high as $500 in the next 5 years.
Tron – TRX
Founded in 2017, TRON has remained a relevant player in the game. Currently capped at $3 billion, the cryptocurrency maintains a price of $0.031 with a potential of rising significantly as the year ends.