Digital money which takes the form of tokens or coins is said to be cryptocurrency. Which some have entered the physical world in different ways, most of the cryptocurrencies remain intangible.
There are more than 2,000 cryptocurrencies but Bitcoin has been a trendsetter, leading in a wave of cryptocurrencies built on a decentralized peer-to-peer network. But the field of cryptocurrencies is always expanding, Bitcoin is not the only big cryptocurrency available, and the next great digital token may be released tomorrow, for all we know.
Last year was the most challenging for our global economy and traditional ways because of the pandemic. With the lockdown and fear of recession, more of the institutional investors took a step towards cryptocurrencies as a savior against the major economic threats. Hence this year, 2021, seems the best for cryptocurrency investment. But not only in Bitcoin. So here we bring to you the best Bitcoin alternatives to invest in 2021.
1. Ethereum (ETH)
Defi (decentralized finance) is one of the fastest-growing trends in the cryptocurrency world. It transforms insurance, loans, etc., and makes them independent from centralized financial institutions. Ethereum, the second-largest cryptocurrency after Bitcoin, is the best choice for getting into Defi.
Ethereum is the best cryptocurrency to invest in 2021 because it was one of the outstanding performers in 2020. It has a market capitalization of $68,127bn.
Ethereum is a decentralized software, open-source blockchain network without any third party interruption. It’s the best option for decentralized apps (dApps). In addition to its own cryptocurrency named Ether (ETH), the Ethereum software also supports other crypto currents that are also active in the decentralized finance sector like Maker (MKR) & Aave (AAVE).
2. Ripple (XRP)
Launched in 2012, now the third-largest cryptocurrency, Ripple is an alternative financial payments system that offers 100% safe, instant, certain, and low-cost international payments. Its blockchain has expanded to more than 40 countries. With its unique consensus ledger, which doesn’t require mining, and other special features, Ripple sets itself apart from other Bitcoin and altcoins. With growing support from different banks and commissions like HDFC Bank Limited, the Bank of America, the European Commission, etc., Ripple seems to be a great choice for investors since its future looks bright.
3. Litecoin (LTC)
Launched in 2011, Litecoin is pretty affordable among the options. It’s based on an open-source global payment network that is not controlled by any central authority and uses “script” as a proof of work, which can be decoded with the help of CPUs of consumer-grade.
Litecoin is pretty similar to Bitcoin but it offers a faster transaction confirmation time because it has a faster block generation rate. Some specialists also believe that its price will increase in the coming years. Hence this time investing in Litecoin can be very fruitful.
4. TRON (TRX)
Tron is a peer to peer, blockchain network whose founders were targeting to revolutionize the entertainment industry and democratize content creation and they got the perfect opportunity in 2020. Tron works as a content sharing platform on which users create or share their content to get rewarded with TRX, without a middleman. It also has a bunch of great partnerships like Samsung, oBike, etc. Tron Foundation has been in some controversies recently because of its founder Justin Sun but it’s a great cryptocurrency to invest in right now because it’s growing continuously.
5. Binance Coin (BNB)
Binance Coin, the official token of the Binance cryptocurrency exchange platform, is a decentralized platform where users can buy and sell Binance coins but can also use BNB to convert other cryptocurrencies from one to another. It was originally hosted on Ethereum until Binance decentralized exchange (DEX) went online in 2017 with a different mission.
Founded in 2017, Binance DEX has become one of the biggest cryptocurrency exchange platforms which has helped with the popularity of digital assets. It also lets users pay for some goods and services and offers a discount to users who pay transaction fees on the exchange with BNB. It’s a good time to invest in BNB right now because it’s gaining popularity and for all, we know it could be the most famous one soon.
It’s only a matter of time before cryptocurrencies and crypto payments are adopted as a whole. After all, 2021 is going to be one of the greatest years for the entirety of the crypto market.
Invest in these cryptocurrencies other than Bitcoin and take advantage of this situation before it’s too late.
Source: “Jeremy Collins is a Chicago University graduate who has been working in advertising for the last ten years. He is an expert designing and marketing specialist in most social media platforms including Facebook and has been working with the forum ever since it starts years ago.”