Seven promising cryptocurrencies on the market

Seven promising cryptocurrencies on the market

Ten years ago an event happened that changed the financial world, Satoshi Nakamoto created a digital currency called Bitcoin. It is now the number one cryptocurrency with the largest capitalization. Today, there are more than 7,000 altcoins. But in such abundance, it is quite difficult to decide where to invest. We have gathered the most promising ones for 2021:

Bitcoin (BTC).

Bitcoin began its march in early 2009 and was offered at the price of few cents, in spring 2021 its price got used to 60 thousand, however, then it corrected and in June it went down to 33 thousand dollars per one coin. Despite the high cost, the capitalization of BTC exceeds one trillion dollars. Some banks offer clients bitcoin-based funds, and famous analysts believe that the crypto is currently the best asset on the market.

Bitcoin Cash (BCH).

For transactions in Bitcoin, the storage of information, are reserved blocks with a size of 1 mb, the more transactions, the slower they go and the higher the commissions of the blockchain. Over time, the block size became insufficient and a branch moved away from classic Bitcoin, the developers created Bitcoin Cache, this happened in 2017. The block size was increased to 8 megabits, this reduces the speed of transactions and minimizes the commission of the system. However, despite the technical perfection, BCH is not so popular now

Cosmos (ATOM).

“Cosmos has reached the greatest heights in the cryptosphere in last years,” Furo says. “Cosmos Hub offers the use of IBC to redirect their assets to independent blockchains and protects assets in excess of one hundred billion dollars, the damage to the environment is much less than in other cases, you can call ATOM a more environmentally friendly cryptocurrency. Cosmos Hub offers new additional services, such as decentralized exchange for a specific network, this will be useful for ATOM users who protect the network. “This is probably the right way to reward people who protect the network,” he states.

Dogecoin (DOGE).

Now the trendiest crytocurrency, it symbolizes showing love for dogs, was first created in 2013 based on the already existing Luckycoin, which in turn was created based on LTC. Since 2014, the reward for the block was made fixed. 2021 is called the year of DOGE, at least that’s what the co-founder of the cryptocurrency manufacturing company (CoinFlip) thinks, and not accidentally, now this digital currency has already reached 13,000 percent, and by capitalization, the token came in fourth place. The price peaked in May, when the price reached 70 cents. The growth would have been even higher if it wasn’t for the huge number of coins issued, there are already over 129 billion of them in circulation and still growing, while BTC is limited to 21mn tokens. Dogecoin is believed to be Musk’s favorite cryptocurrency, so he wrote in his tweet, after which, by the way, Doge’s value doubled.

Etherium (ETH)

The cryptocurrency’s success is generally due to its impersonality and lack of centralization. That is, servers to store all transaction information. It is fast, does not require visits to the bank or identity verification for money transfers. ETH has same basis as BTC. In terms of capitalization, this crypto is second only to the market leader. Recently, the total capitalization of this cryptocurrency exceeded the capitalization of The Bank of America and reached $400 billion. After this news, the flow of infestations into ether increased significantly. And more recently, bitcoin.com announced that it is possible to store etherium in its bitcoin wallet.  ETH has a very progressive structure that allows it to be used in various blockchain-related projects, possibly one of the reasons for the recent five-fold growth of ETH. There are periodic hardforces with improvements, for example, as early as 2021, there has been optimization, and transaction security has been increased.

Compound (COMP).

This cryptocurrency surprised even sophisticated investors with its unconventional approach, you can within this project receive accruals for the use of tools on the same platform. Within the platform, you can either lend money at interest or borrow money. And it’s all based on Etherium. This is a completely innovative approach to using cryptocurrency and DEFI. Organizers create the rules, use and regulation are in the hands of platform users.

Polkadot (DOT).

Greg King – creator of the Osprey Bitcoin Trust, said that contrary to what other investors think, the most promising cryptocurrency for 2021 is Polkadot. The creators of Osprey launched the Osprey Polkadot Trust, powered by DOT, it is an innovation in decentralization technology, it will make a big step into the future.  This coin is quite young and was only created in 2016, but that does not detract from the rapid development of this token. After all, it now ranks eighth in terms of the amount of investment.

The list of the most profitable cryptocurrencies according to analysts for 2021: BTC, BCH, ATOM, DOG, ETH, COMP, DOT

Leave a Reply

Your email address will not be published.