There is no denying the fact that cryptocurrencies have become a regular section of the news regardless of what happens in the market, it is always in the news. Investors are getting allured to the kind of returns on investment people are getting by putting their money on crypto assets. Here in this article, we are going to talk about top cryptocurrencies to buy and hold in the year 2021. The purpose of this article is to provide fundamental information based on the data released by market aggregators for the below-mentioned cryptocurrencies. Hence, the reader is advised to go through his own research before doing investments in the assets.
Also, you should be aware of the fact that cryptocurrencies and the whole digital market are way too volatile and the prices of these assets are highly fluctuating.
Before knowing which cryptocurrencies to invest in, it should be noted that as the popularity of these digital assets is increasing, so is the acceptance by major firms that hold the market share significantly.
Well, a decent investment is one that is able to beat the constantly rising inflation, and it has been witnessed throughout history that assets that have fluctuations in their prices are capable of beating inflation. Earlier, it was stocks that helped people grow their wealth by earning compound interest on their capital investments, and they are still considered the best option to invest your money into. However, it should be noted that the way cryptocurrencies have emerged in popularity, as well as prices, no other stock in the market, had that potential.
Bitcoin - Originated in the year 2008 by Satoshi Nakamoto, Bitcoin has undoubtedly managed to make its investors wealthy. The crypto asset has surged significantly to sky-high levels that are still unmatched by any other asset in existence. As it has already been revealed that the cryptocurrency is a decentralized one, hence, no bank or intermediary is required to execute transactions on its network. Though the price of Bitcoin may witness several ups and downs in its journey, it is for sure that it will continue to rise and possess the potential to reward anyone who has the courage to hold the asset.
The second cryptocurrency that is following the path of Bitcoin in rewarding its investors with huge returns and as for the information about this asset. It is a decentralized software platform that enables the designing of smart contracts and apps that are decentralized. Created in the year 2013 by Vitalik Buterin, ETH is the second-largest cryptocurrency when we talk in terms of market capitalization.
A cryptocurrency network that deserves to be included in the list of top cryptocurrencies to invest in the year 2021 as it is an open-source project that has a target of generating a public blockchain platform for all the smart contract platforms out there. Talking about the creation of this asset, it was created by Charles Hoskinson in the year 2015, however, it was released in the year 2017. In addition to this, discussing further the creator of the cryptocurrency, Hoskinson was one of the original five members who founded Ethereum back in the year 2013.
The next name in the list of top cryptocurrencies to invest in is Polkadot, which is a PoS cryptocurrency. As revealed by the team behind Polkadot, the aim of the cryptocurrency is to provide interoperations within the blockchain. Talking about the creation of this asset, it was created by Gavin Wood along with Peter Czaban and Thiel Fellow Robert Habermeier. This particular crypto asset has a lot of potentials as it has the capability to execute a relay chain that enables an internet where individualistic blockchain is allowed to share information and dealings in a capricious manner.
This name has always been in controversies due to some legal proceedings against this cryptocurrency, however, these things do not seem to have shifted the potential of the digital payment network for financial dealings even a bit. The payment token of Ripple is XRP, and it was created to be utilized on its decentralized payment system. Talking about the market capitalization of the cryptocurrency, it has a total market valuation of $26.8 billion and is among the top cryptocurrencies that are listed in the market.
Well, as already mentioned, the fact that these assets come with a great level of fluctuations can not be ignored, and hence, it becomes a necessity to do proper research before involving in any kind of trading or investing practice with these assets. Moreover, it has always been advised that new investors and beginners in the market should focus on making long-term commitments to these assets.