cryptocurrencies

Top 7 Profitable Cryptocurrencies You Should Consider Investing in 2021

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There’s been so many advancement going on all over the world, thanks to digital technology. The way and manner financial transactions were carried out in the past quite differs from what is obtainable in today’s world as it has drastically improved, with a tilt towards cryptocurrencies also known as digital or virtual currencies.

 Digital currency is the way to go and if you’re yet to catch the bug, or you are in total oblivion as to which cryptocurrency to invest in, not to worry, as this article details  all you need to know about cryptocurrency.

Cryptocurrency is a digital or virtual currency that is secured by cryptography, hence, making it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computer. It is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.

Here are top 7 profitable cryptocurrencies you should consider investing in 2021

Ethereum (ETH)

By volume, Ethereum is the second largest cryptocurrency and in recent times, has become the world most used blockchain. It is a decentralized software platform where users not only invest in, but can also interact with the platform using ether. The future of investment is cryotocurrency and Ethereum is a viable platform if you’re thinking of going the crypto-way. In January 2021, Ethereum (ETH) had a market capitalization of $138.3 billion and a per-token value of $1,218.59. As at today, 1 Ethereum equals N798, 727.10, and it is predicted to increase in the future.

Litecoin (LTC)

Litecoin is a peer-to-peer cryptocurrency developed by Charlie Lee and launched in 2011. It is based on an open-source global payment network that is not controlled by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of consumer-grade CPUs. Litecoin creates new blocks every two and a half minutes, which is four times faster than Bitcoin. In January 2021, Litecoin had a market capitalization of $10.1 billion and a per-token value of $153.88, making it the sixth-largest cryptocurrency in the world. There are a number of ways to invest in Litecoin, but notable amongst them is PayPal, Coinbase.

cryptocurrencies
Litecoin. Photo credit: trality.com

  Polkadot (DOT)

Polkadot is a fast-rising cryptocurrency hub that allows a variety of blockchains to transfer messages, including value, sharing their unique characteristics in a trust-worthy, secure manner. The value of one Polkadot (DOT) is 16.30 US Dollars. At Coinbase, you can buy and trade in Polkadot.

Bitcoin (BTC)

Bitcoin is one of the world’s notable cryptocurrecies. It has become an acceptable means of payment in several countries of the world, though still banned in others. Nonetheless, Bitcoin has proven that it is here to stay. Bitcoin is a decentralized, peer-to-peer cryptocurrecny system that operates with no central authority or bank. Each Bitcoin is basically a computer file which is stored in a ‘digital wallet’ app on a smartphone or computer.

People can also send Bitcoins to their digital wallets, as well as to other people. Every single transaction is recorded in a public list called the blockchain. Bitcoins can be bought using ‘real’ money, you can as well sell goods and get paid in Bitcoins, or you can create Bitcoin on a computer system. As of today, 1 Bitcoin equals N13, 927, 834.48.

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Cardano (ADA)

Cardano is a decentralized blockchain investment platform that combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies. It was created by cryptography experts and engineers with a research-based approach. In January 2021, Cardano had a market capitalization of $9.8 billion and one ADA traded for $0.31. To invest in Cardano,  you have to first create a Coinbase account after which you can proceed to buying Cardano.

Baby Doge Coin

Dogecoin seems to be blowing up in recent times, with many investing in it. Baby Doge Coin is a new cryptocurrency created by fans and members of the Doge Coin online community. It has become a lucrative short-term investment platform as many have benefited from it. Undoubtedly, Dogecoin has gained so much prominence in recent times, however, it is important to tread with caution before you invest in it. Baby Doge Coin is currently valued below $0.000000000392164, and the market cap reached over $116 million earlier this week, according to GitHub.

Stellar (XLM)

Stellar is a cryptocurrency network and platform, launched in 2014 and enables people create, send and trade digital representations of all forms of money. It was created to allow all the world’s financial systems work together in a single network. Stellar is an open-source network for currencies and payments.

These cryptocurrencies stand out amongst the world’s cryptocurrencies and if you’re considering investing in crypto, then you should check out these.

The future is crypto!

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Ruth Omorodion

Ruth Omorodion is a News writer, Reporter, Blogger and Media Enthusiast

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