If you have an investment plan for this year, then one of it must be to invest in digital currencies. Investing in digital currencies on the long and short term comes with a lot of benefits. The value of digital currencies, according to Britainreviews.co.uk is on the rise as they are gaining widespread acceptance across the world. However, there are some major factors to consider when investing in cryptocurrencies.
The first is the type of cryptocurrency you are investing in and the second is the trading strategy you are engaging. For information on trading strategies see cryptocurrency market platforms reviews. In this article, we shall be looking at the top seven cryptocurrencies with prospects to invest in for 2021.
1. Bitcoin [BTC]
Topping every list, Bitcoin ushered in the world of digital currencies that we all live in now. For this reason, it has remained a profitable coin to invest in over the year and this year is not any different. Investing in Bitcoin is not just a wise decision to make, but it is one that will yield a lot of returns in the short and long term.
2. Ethereum [ETH]
Taking the second position after Bitcoin for many years, Ethereum is a unique cryptocurrency with the potential of increase in the coming months. Its uniqueness is rooted in the blockchain technology it runs on allowing for more decentralized applications. There are many platforms today that make use of the blockchain to avoid fraud and guarantee transparency.
3. Litecoin [LTC]
Many see this crypto asset as the younger brother of Bitcoin because of the many similarities they share. The essence of developing this cryptocurrency was to ensure faster transaction times and lower fees. Over the years, there’s been an increase in the number of merchants and platforms that accept Litecoin. It is projected that this number will increase in the coming month and, with it, an increase in value of this coin.
4. Bitcoin Cash [BCH]
Bitcoin Cash is an extension of Bitcoin and an update to its code. Bitcoin Cash has an increased block size of up to eight megabyte. This increase allowed for better scalability and made it possible for many transactions to be carried out faster.
5. Tron [TRX]
Tron is a project that aims at building a decentralized internet space and the token traded on this platform is the TRX token. Tron was founded by Justin Sun and has since then gone on to be a very outstanding platform and this has contributed to the value of the token making it one of the best you should invest in this year.
6. Binance Coin [BNB]
Binance is a cryptocurrency exchange and has been rated by many as one of the largest exchanges in the world. The Binance coin is the official token of this exchange platform and has grown in volume over the years. The usability and affordability of this coin are what makes it one of the best you should invest in this year.
7. Chainlink [LINK]
ChainLink is an oracle network that is used for powering different smart contracts for the effective functioning of the blockchain. The working of the blockchain is simplified by Chainlink and Link is the acceptable token for this platform and one of the best to invest in this year.
Your money is not only saved but multiplies when you invest in the top cryptocurrencies. While it is obvious to everyone that the market is volatile, with the right understanding you can harness the many opportunities of the digital world.