If you follow financial news or even if you follow social media, you might already know the mayhem caused in the cryptocurrency world a few weeks ago. There is always something exciting happening in the cryptocurrency world. Although cryptocurrency seems more like a gambling game, with years passing by, cryptocurrency is becoming ubiquitous.
Starting with an idea of bringing paperless currency that removes the need for print central banks, financial institutions, and middlemen, cryptocurrency has come a long way. 12 years later after being first introduced, now we have several different types of cryptocurrencies available.
However, not all of them are created equal! Here are the 10 best cryptocurrencies that are available for you to buy. Since they are a highly volatile asset, make sure you invest the money that you are ready to lose.
10 Best Cryptocurrencies You Can Invest In
One of the first and the best cryptocurrency you can invest in if you want good returns. This cryptocurrency was first introduced in 2009 and since then it has changed the way money works. This is one of the tested and tried cryptocurrencies with all types of variations and improvements in the industry. Also, its excellent blockchain technology and first-mover cryptocurrency give it a massive advantage and a capitalization above $1 trillion.
This is one of the most unique and promising cryptocurrencies in 2021. The main reason for this is its scalability and sustainability. The newest feature that adds a new dimension to this cryptocurrency is smart contracts. With low transaction fees, it becomes the most affordable and highly profitable cryptocurrency.
After Bitcoin, if any other cryptocurrency has been recognized is Ethereum. The cryptocurrency emerged in 2015 and has slowly become the center of cryptocurrency investment. In fact, the cryptocurrency is slowly chipping away Bitcoin’s share in the market.
Thanks to Elon Musk’s moniker “Dogemaster”, Dogecoin has become the most important cryptocurrency in 2021. The cryptocurrency was introduced in 2013, however, the cryptocurrency has gained rapid momentum in recent times due to memes and social media. Currently, the cryptocurrency is priced at US$0.2268. This makes it the cheapest and reliable cryptocurrency.
Shiba Inu (SHIB)
This cryptocurrency was first developed silently in August 2020 under the name of “Ryoshi”. The cryptocurrency has been paired with the cute charm and tweets from giants such as Elon Musk and Vitalik Buterin. Shiba Inu has become the Ethereum to Dogecoin.
Binance Coin (BNB)
One of the largest global exchanges, Binance has become rapidly popular in the past few years. Although Coinbase Global Inc. still gets the most attention, Binance is emerging in the market too. Initially, the cryptocurrency was issued as an Ethereum blockchain token.
However, the cryptocurrency has transitioned to the Binance blockchain. Just like any other cryptocurrency in the market, Binance has a circulation of 200 million with 168 million already in circulation. This cryptocurrency is certainly worth your investment.
Digital payment processing company Ripple was the one to introduce XRP as cryptocurrency. This cryptocurrency allows exchanges between fiat currencies and crypto acting like PayPal for crypto.
The most important thing to note is that the XRP ledger is a public blockchain and Ripple is trying to invest in such non-fungible token projects. In fact, Inside Bitcoins says that XRP will emerge as another Ethereum-killer in the cryptocurrency market.
Axie Infinity Shards (AXS)
The cryptocurrency market is evolving, making several cryptocurrencies obscure. However, certain cryptocurrencies such as Axie Infinity Shards (AXS) are definitely changing the market. Token governance is built on the Ethereum blockchain and is required by a blockchain-based game. This player-owned cryptocurrency is the main voting mechanism of the game.
This type of cryptocurrency is a symbol of creativity that sees no bounds and will unfold in blockchain technology in the coming years.
UNI is popularly known for facilitating the automated trading of issued tokens. The tokens that it can work with are the decentralized finance (Defi) tokens. The cryptocurrency was launched in 2018, however, the cryptocurrency has gained rapid recognition in recent times. This is because of an increasing surge in token trading and the Defi phenomenon.
The main aim of Uniswap is to keep the token trading automated allowing everyone involved in the trading of tokens. This will improve the trading of tokens as compared to traditional trading.
If you are looking for a stable cryptocurrency, you can choose Tether (USDT, is backed by fiat currencies such as US Dollars and Euro. It makes it possible to keep the denominations equal to these currencies. The value of this cryptocurrency is more consistent as compared to other cryptocurrencies. Since cryptocurrencies are volatile, most investors will favor investing in Tether.
These are our top 10 cryptocurrencies that you can invest in if you want to trade in the cryptocurrency market.