Discover the 7 Types of Cryptocurrency That Will Make You a Fortune in 2021
Cryptocurrency has taken the world by storm since its inception in 2009 through Bitcoin. Since then, the cryptocurrency market has expanded to encompass a range of different currencies. With new cryptocurrencies emerging every day, it can be challenging to keep track of which ones to look out for.
In this article, we’ll discuss the 7 types of cryptocurrency that will make you a fortune in 2021.
1. Bitcoin (BTC)
Bitcoin is the first and most popular cryptocurrency in the market. With a market capitalization of over $1 trillion, Bitcoin has become more valuable than gold. The currency is decentralized, meaning that it is not controlled by any government or financial institution.
Today, many businesses, including Tesla and PayPal, are accepting Bitcoin as payment, further increasing its value. Given its credibility and long-standing reputation in the market, Bitcoin is expected to increase in price in 2021.
2. Ethereum (ETH)
Ethereum is another widely-known cryptocurrency, second only to Bitcoin in market capitalization. It’s a decentralized platform that runs smart contracts on its blockchain, which allows developers to create decentralized applications. ETH has been known to outperform Bitcoin in its gains, and the currency is expected to surpass the $3000 mark this year.
3. Binance Coin (BNB)
With a market cap of over $70 billion, Binance Coin is the third-largest cryptocurrency by market capitalization. It is the native token of the Binance Exchange, which is one of the largest cryptocurrency exchanges globally in terms of trading volume.
Besides functioning as the native currency for the exchange, Binance Coin offers other advantages to the crypto investor. These include lower transaction fees and discounts on trading fees on the platform.
4. Cardano (ADA)
Cardano is another decentralized platform that uses a Proof-of-Stake (PoS) consensus algorithm to secure transactions on its blockchain. Cardano has been touted as an “Ethereum killer” because of the unique features that it offers, such as the ability to handle more transactions per second than Ethereum.
Cardano’s development has not been without incident, but the introduction of new technologies is expected to make the cryptocurrency more valuable over 2021.
5. Polkadot (DOT)
Polkadot is a shared protocol that connects multiple blockchains into a single network. The infrastructure enables blockchains to exchange data and transactions with each other. This protocol allows for cross-chain communication, which simplifies and eliminates the need for intermediaries.
Polkadot’s infrastructure has opened up opportunities for blockchains that were not previously possible, giving investors a chance to make a return on the cryptocurrency.
6. Dogecoin (DOGE)
Dogecoin has been around since 2013 and started as a meme currency. Over time, Dogecoin’s popularity has grown, and it has become a serious investment opportunity. Its price surged to new highs after Elon Musk started endorsing it.
While the market cap is not large compared to other cryptocurrencies, the return on investment has been significant. In 2021, the cryptocurrency is expected to continue its rise in value.
7. Chainlink (LINK)
Chainlink is an oracle platform that connects smart contracts running on blockchains with real-world data. The use of oracles is particularly useful as the communication is between non-blockchain-based platforms and the blockchains.
Chainlink’s technology makes it possible for blockchains to integrate with legacy systems, making it an excellent investment opportunity for those who value interoperability.
In conclusion, cryptocurrency is here to stay, and opportunities are still available for those who want to invest. While the cryptocurrency market is volatile, there is no denying that there is money to be made. With these 7 types of cryptocurrency, fortune awaits investors who choose to invest their money wisely in 2021.
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