Top 10 Cryptocurrencies Along with Important Factors to ConsiderKWS Admin
Cryptocurrency is digital cash that is independent of government rules and regulations globally. There are over nine thousand crypto coins available in the market and each of them has some unique features that define their ranking in the market. Crypto trading is slowly becoming a rising trend worldwide and there are some important factors you need to consider before investing in digital currencies.
Here are Top 10 cryptocurrencies in 2021
1. Ethereum (ETH)
Ethereum is the most reliable altcoin in the digital market which has given a tough time to Bitcoin in recent months. Ether is the name of cryptocurrency which works on Ethereum platforms that give smart contracts to their users. Ethereum has the best decentralized apps that destroy a small quantity of Ether right after the transaction is completed. This process helps to protect their network from hackers and spammers.
- Ethereum (ETH) is a decentralized cryptocurrency with the best blockchain technology.
- Fast transaction system with high-speed transactions.
- Ethereum is attracting many investors and is considered to be a trusted cryptocurrency.
- Ethereum is offering high smart contracts fee to its users.
- A risky crypto coin with a high volatile rate.
- Ethereum has a complicated network for starters to understand.
2. Bitcoin (BTC)
The leader of cryptocurrencies is none other than Bitcoin (BTC) which dominated the trading market for many years. This decentralized crypto coin persuaded many trading companies to invest in it and they had a positive experience after officially making Bitcoin one of the major options of cash payment method. Bitcoin had around a six billion market cap which was a remarkable achievement for any cryptocurrency. The price of buying one Bitcoin is expensive compared to other altcoins but still a profitable source of investment for fresh and developed crypto business traders.
- Best digital currency with a high return value.
- Authentic international transaction token.
- Secured from any payment scam.
- Cyber hacking is highly active in Bitcoin (BTC) trading systems.
- After the market crash Bitcoin (BTC) has a potential for high loss.
- Cryptocurrency strict laws decreasing Bitcoin’s worth in the market.
3. Dogecoin (DOGE)
The meme which turns into an official cryptocurrency with the support of Elon Musk made Dogecoin (DOGE) a worldwide sensation. The market percentage of Dogecoin went off the charts in January 2021, the crypto trading investors making it a legit digital currency after Tesla officially made it a payment method for their daily transactions.
Dogecoin (DOGE) fast blockchain is surprisingly better than Bitcoin and has a smart decentralized structure for its users. You can mine it or buy it or use it as one of your company’s payment methods and still gain maximum profit in 2021. Dogecoin (DOGE) is currently ranked in 6th position in the market and still rising rapidly after the fall of Bitcoin price.
- Dogecoin (DOGE) is becoming a profitable crypto token.
- Acquires the best social media support from its fans.
- Dogecoin has an unlimited supply for mining with a friendly process.
Secure access to buying or selling with smooth technology for Dogecoin users.
- Dogecoin is a risky digital currency with a high risk of loss.
- More than 50% of Dogecoin is owned by one or two owners.
- High threat of security breach.
4. Stellar (XLM)
A low-cost cryptocurrency with good potential to show optimistic results in the trading market. Stellar (XLM) can transform into other currencies with a simple payment method. The lumens are digital tokens made by the Stellar platform to act as a virtual bridge between the banks and blockchain networks.
- Affordable transactions.
- The fast procedure of conversion.
- The best cryptocurrency for all financial systems to work under one network.
- High threat of new competitor (digital currency) with enhanced blockchain.
- Low public awareness may decrease its worth.
- Stellar (XLM) Lumens completely dependable on other currencies’ market cap.
5. Litecoin (LTC)
Litecoin (LTC) is designed to act as a second-level altcoin for inexpensive crypto trading. Litecoin (LTC) is a decentralized blockchain network that works four times faster than Bitcoin. This digital currency can be mined up to 80,000,000 (LTC) and miners support this token more than some other famous cryptocurrency mining infrastructure.
- Litecoin (LTC) offers a minimum transaction fee.
- The trading system is friendly and easy to operate.
- Litecoin (LTC) can complete the transaction within 3 minutes.
- The misuse of Litecoin (LTC) by hackers destroyed its reputation.
- Security functions are weak and unreliable.
- Branding trouble may lower down its credibility in the market.
6. Ripple (XRP)
American Express’s favorite cryptocurrency is Ripple (XRP). The Ripple Net is a virtual design that controls (XRP) transactions. Ripple (XRP) made smart contracts with banks and tried to legally name them as an international digital currency. This centralized crypto coin simplifies the trading process with 100% security and free of cost.
- Ripple is the best problem-solving crypto coin that is affordable for any investor.
- Ripple (XRP) is now recorded as the fourth biggest cryptocurrency in the market.
- Registered links financial departments globally.
- Ripple (XRP) is not a decentralized cryptocurrency.
- No more mining of Ripple (XRP) and those tokens which are already pre-mined circulating in the virtual network.
- Not a popular blockchain technology and still a work in progress.
7. Polkadot (DOT)
Polkadot (DOT) is a third-generation crypto coin with multiple blockchain networks that helps to manage all transactions in a single network. Polkadot (DOT) can bring a revolutionary change in the digital currency world if gets successful by connecting all decentralized servers and creating a single web for crypto trading.
- Polkadot (DOT) has the best developers with advanced technology for networking.
- Flexible and can adapt any blockchain if investors start buying Polkadot (DOT).
- Complex network to manage and required large developing team.
- The threat of high competition in the cryptocurrency market.
8. Tether (USDT)
Tether (USDT) is known as a “stablecoin” in the digital world because the main task of this currency is to stabilize the US dollar and avoid inflation. Tether is considered to be the most reliable crypto coin with minimum chances of loss. Tether is perfect for those traders who wants to do cryptocurrency transaction with US dollars.
- Safe and free of any hidden charges.
- The stable coin for solving volatility issues in the crypto trading market.
- Extreme high centralized structure.
- Not a good choice for professional investors.
9. Cardano (ADA)
Cardano is a less energy consumption cryptocurrency with flexible transaction services and a strong network. Cardano is a cost-effective crypto coin with efficient results and can compete with top digital currencies.
- Environmentally friendly technology
- Reputable network.
- No special strength compared to Cardano competitors.
- Still in the early stage of development.
NEO is a decentralized cryptocurrency that is one of Chinese biggest digital coins. NEO also provides smart contracts to its users and it is operated by the top best crypto wallets’ companies.
- NEO can be used for the transaction in China approved regions.
- Zero possibility of decentralization.
- A risky crypto coin with unsatisfactory results.
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