Currently, there are over 7,000 cryptocurrencies available in various markets, as per Coin Market Cap’s data. If you’re planning to try your hand at crypto investment, this vast number leaves you with so many options to choose from—should you pick the most popular and well-established coins or the emerging ones? Which digital assets could skyrocket in 2022?
To help you save extra time deciding whether you should buy Bitcoin (BTC) or other cryptos for investment in the coming year, we created a list of five digital coins that could give you great opportunities in your 2021 crypto adventure.
Market Capitalization: 364,542,198,931 USD
24-hour Trading Volume: 47,891,917,407 USD
Market price as of December 1, 2020: 19,642.51 USD
This leading coin, dubbed the king of all cryptos, is like a celebrity for market investors because of its highly volatile nature. When the mysterious Satoshi Nakamoto introduced Bitcoin in 2009, it was just selling at around 0.008 USD to 0.08 USD per coin. But as more and more people explore its game-changing uses, its value reached a towering 19,000 USD—no wonder why some crypto enthusiasts also call BTC a magical cryptocurrency.
Among thousands of cryptocurrencies, Bitcoin has the highest liquidity and trading volume in the market. It also has a limited supply of 21 million BTC, so you can save yourself from worrying about inflation. Besides that, major companies and industries worldwide have started accepting BTC in exchange for their products and services, showing that its adoption rate is pointing towards a positive direction.
On the flip side, BTC’s value is insanely high and unpredictable. So if you’re planning to invest in BTC, prepare your heart and digital wallet for what tomorrow’s market movements may bring.
Market Capitalization: 69,268,583,322 USD
24-hour Trading Volume: 22,142,044,076 USD
Market price as of December 1, 2020: 609.51 USD
Vitalik Buterin created Ethereum (ETH) in 2015. What makes this crypto interesting, especially for developers, is that you can build decentralized applications (DApps) using its blockchain. Ethereum also popularized the use of smart contracts, making it useful and unique. This is another good reason why it ranks after BTC in terms of market capitalization and efficiency.
Moreover, its price is not so high or low for long and short term investment, which is ideal for those just starting. However, like Bitcoin, Ethereum is also a highly volatile asset and its price also depends on demand. In 2017—when not many crypto folks were fascinated by it—ETH was selling at only 2 USD to 8 USD per coin. But in January 2018, it reached around 1,400 USD.
Market Capitalization: 5,879,735,133 USD
24-hour Trading Volume: 7,346,869,631 USD
Market price as of December 1, 2020: 89.11 USD
This cryptocurrency, introduced by Charlie Lee in 2011, was designed to be a “lite version of Bitcoin.” While it isn’t as famous to investors and traders as Bitcoin and Ethereum, Litecoin stands out because of its huge market capitalization and impressive growth performance through the years. Major payment companies like PayPal also support LTC transactions, which gives this coin the potential to grow and be further recognized by crypto enthusiasts in the coming year. At the time of writing, it ranks fifth in Coin Market Cap, following Bitcoin Cash (BCH).
Market Capitalization: 5,258,093,824 USD
24-hour Trading Volume: 2,048,891,601 USD
Market price as of December 1, 2020: 0.168758
Cardano, founded by Charles Hoskinson, was launched in 2015. It was dubbed as a third-generation cryptocurrency, which means it’s governed by a “high degree of protocol level.” Currently, it ranks eighth in terms of market capitalization, following Chainlink (LINK).
It reached this year’s bottom at 0.024 USD during the first quarter, but then started to peak again at 0.15 USD in July. In the third quarter, ADA saw a declining trend, dropping to 0.075 USD in September. Interestingly, it was able to recover and reached 0.113 USD in October. This coin might also fit the needs of investors who are planning to enter short or mid-term investments because of its interesting price movements.
Market Capitalization: 19,130,750,423 USD
24-hour Trading Volume: 81,445,499,503 USD
Market price as of December 1, 2020: 1.00 USD
If you’re shifting towards cryptocurrencies to protect your hard-earned money, investing in Tether (USDT) can be one of your options. This stablecoin’s value is designed to mirror the price of the United States dollar. Investing in USDT might be ideal for people living in countries with a struggling economy and fiat currencies that are hit by hyperinflation.
Tether currently ranks fourth in terms of market capitalization, following Ripple (XRP). If you look at BTC and USDT’s 24-hour trading volume, you’ll notice that Tether has a bigger volume of 33.6 billion USD. This only proves that there’s a significant number of crypto users who sell and buy Tether around the world.
Some investors also convert their funds into USDT to escape bearish markets without exchanging their cryptos for fiat money. On the other hand, if you’re planning to score huge amounts of profit through crypto over the long term, Bitcoin might still be your best available option.
Every investment involves some risk
Just like investing in stocks or valuable commodities, investing with cryptocurrencies also comes with some degree of risk. Crypto markets move unpredictably, so better prepare yourself for any uncertainty and potential financial loss. Before investing in cryptocurrencies, be sure you understand what they are and how they work. Keep in mind that this decision involves your money, so keep close tabs on where it goes and how you can effectively make profits and deal with setbacks that might come your way.
The information provided herein is not and is not intended to be investment, financial, or other advice.
One of the most asked questions is why do seasoned developers such as ourselves stress…
When you’re shopping for auto parts, what matters most are their quality, fit, performance and…
Mark had always been a die-hard WWE fan. Growing up, he watched the likes of…
For centuries, flowers have been a source of inspiration, enchanting everyone with its beauty. Like…
Are you ready to tantalize your taste buds with a delectable and creamy dish? Look…
If someone had told us we would be as dependable on mobile apps as we…