The Next Big Thing Like Bitcoin

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If you haven't noticed, Bitcoin continues to dominate news headlines as cryptocurrency becomes more popular. Bitcoin's price is still highly volatile, but it's still a good long-term investment for both swing traders and long-term investors.

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bitcoin

Despite the price of Bitcoin fluctuating dramatically, it is already a recognized asset class for both individual and institutional investors. Cryptocurrency is no longer a niche investment reserved for tech company workers and executives. Early in 2021, the first Bitcoin and Ether exchange-traded funds (ETFs) were authorized and started trading on the Toronto Stock Exchange. As a result, more investors were able to purchase and sell Bitcoin and Ether as readily as they could equities. After years of watching and investing in cryptocurrencies, it's obvious that, although Bitcoin continues to dominate the discussion about cryptocurrency as an asset class, it's far from the only coin to consider.

You've arrived here because you want to invest in the next great cryptocurrency. Here's a list of the ones to keep an eye on.

The Top 10 Cryptocurrencies to Invest in in 2021

The top five cryptos are Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin. The total market value of all cryptocurrencies is now about $237 billion, with Bitcoin and Ethereum accounting for almost two-thirds of that.

Bitcoin is number one.

Bitcoin

Bitcoin is the oldest and most well-known cryptocurrency, and it remains one of the finest crypto investments available. Bitcoin is the most commonly accepted cryptocurrency for payment and is accessible on virtually all cryptocurrency trading platforms. Furthermore, since Bitcoin is so well-known, its price is much more steady than the prices of some of the younger currencies.

Bitcoin's age, on the other hand, is working against it. Bitcoin's technology is outdated and inefficient in comparison to newer cryptocurrencies on the market, and it is often chastised for the detrimental environmental effect of mining and utilizing the currency.

Ethereum is number two.

Ethereum

Ethereum was created in 2015 by Russian techie Vitalik Buterin and now has a market value of $40.6 billion. Ethereum was created to allow users to create "smart contracts," which are essentialGmailcrypto cointo competed 1 "if/then" statements. It might be something like, "If Sally never misses work, she is paid $xx," or "If you enter specific data, you will get a soft drink." Decentralized apps, or dApps, are created when several smart contracts are combined. dApps are tamper-proof because they link the user and the supplier directly, bypassing the middle-man who keeps and controls the data (think Gmailcrypto coin forto compete$1to for into int if). The overwhelming majority of coins are really Ethereum-based decentralized applications (dApps). Ethereum has begun to reach the mainstream as of April 2021, with the addition of a few new ETFs on the TSX, providing Canadians with yet another option to invest in this cryptocurrency.

Dash

Dash's goal is clear and straightforward: to become your digital money. The currency was developed in 2014 with the intention of competing with credit cards and PayPal as a means of payment at any store. The currency takes pride in enabling low-cost, rapid transactions. Dash has a bright future as more shops embrace cryptocurrencies as a method of payment, both online and offline.

Litecoin

A former Google employee co-founded Litecoin, which was introduced in 2011. Through its decentralized network, it enables quick and low-cost worldwide payments. It's said to be a speedier version of Bitcoin with a greater quantity of coins, earning it the moniker "the silver to Bitcoin's gold." While it was a popular option with Bitcoin and Ethereum in 2017, it hasn't seen the same kind of resurgence in 2020. Its technological advantages and trustworthiness, though, make it a probable long-term competitor in the crypto realm.

Ripple

Ripple, headquartered in San Francisco, was founded in 2012 and now has operations in 27 countries. Ripple is a cryptocurrency that focuses on multi-currency transactions that are both cheaper and quicker than Bitcoin. RippleNet, the company's platform, has more than 100 international banks signed up by the end of 2017. The currency has gained almost 300 percent since its inception in 2020. Ripple's market value is projected to be $332 billion. XRP is the name of the cryptocurrency's token.

Tether

Tether (USDT) is a one-of-a-kind cryptocurrency that is "tethered" to the US dollar. Every Tether currency is worth $1 USD, which protects it from the large price swings that other cryptocurrencies experience. This has given it the moniker "stablecoin," and it may pave the path for the eventual digitalization of the US dollar. Tether is a fantastic choice for individuals seeking to store money in a reliable cryptocoin.

Binance Coin is number seven (BNB)

The Binance Decentralized Exchange, or DEX, debuted Binance Coin (BNB) in mid-2017. On the DEX, you can buy and trade hundreds of different cryptocurrencies, but customers who pay fees using Binance receive a discount. Because DEX is the world's biggest cryptocurrency exchange, customers are encouraged to trade Binance, guaranteeing its long-term viability and development.

Luminous Stars

Jed McCaleb, a co-founder of Ripple, launched Stellar Lumen (XLM) in 2014. Stellar is an open-source blockchain that resolves global financial transactions, such as currency exchanges, in seconds rather than minutes, making it considerably quicker than Bitcoin. It has a market value of approximately $9.2 billion.

Tezos (nine) (XTZ)

Tezos (XTZ) is quickly becoming the most preferred cryptocurrency for new projects, with a gain of over 85% since the beginning of 2020. Many believe Tezos will eventually outperform Bitcoin because it is both more scalable and less resource-intensive.

Satoshi Vision for Bitcoin (BSV)

Bitcoin Satoshi Vision, or Bitcoin SV (BSV), was forked from the Bitcoin Cash network in 2010. The goal was to make Bitcoin more scalable by increasing block sizes, which would allow it to operate quicker and transport more data. BSV, on the other hand, has not been without controversy, with prior peak-crypto conflicts in 2017 and 2018 leading to the project's complete separation from Bitcoin. Despite internal conflicts and feuds, Bitcoin SV remains a popular cryptocurrency among investors.

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