We all know Bitcoin is the king of digital currencies. But recently, the massive crash of Bitcoin has made everyone worried about its authority. Some are assuming the end of Bitcoin is near; some are saying we should start looking for new altcoins. Even many investors have already begun searching for ways like how to convert bitcoin to ripple or other altcoins.
A few years ago, Bitcoin was the only ruling cryptocurrency on the market. Nowadays, there are hundreds of altcoins to choose from. With the explosion of Defi, now there are a lot of opportunities to invest in upcoming altcoins. Therefore it is time to check the top altcoins in the market, which can become more valuable in the near future. In this article, you will find the top 5 promising altcoins to check out in 2021.
5 Promising Altcoins to Check Out
The question may arise why you should invest in altcoins. Well, There are a lot of reasons behind cryptocurrencies’ popularity. One of them is a tracking-free transaction system and low transaction fees. Another reason for this growth is that altcoins are not controlled by any government or central bank. These factors make them decentralized and really hard to manipulate. This is why cryptocurrencies are popular among investors and marketers. Besides, they are also considering the rise of altcoins against Bitcoin. Therefore, you should also invest in altcoins too. Here are the top 5 promising altcoins to check out in 2021:
Ethereum is one of the most popular altcoins. It was proposed by a Russian-Canadian programmer Vitalik Buterin in 2013, and since then, it has gained a lot of popularity among cryptocurrency enthusiasts, investors, traders, and miners. Ethereum’s price skyrocketed to over $2500 per coin at the beginning of 2021. The Ethereum network allows peer-to-peer contracts to be created without any middleman or third party, potentially eliminating unnecessary costs. The altcoin of Ethereum is known as Ether. Mainly, the foundation of Defi was created by Ethereum, and now it is ruling the world. After Bitcoin, people are now investing more into Ethereum. Because, with high tech support and smart developers, Ethereum becomes the competitor of the market’s king Bitcoin.
Dogecoin is a cryptocurrency that was created as a “joke currency” but has recently gained traction. It was originally intended as a joke, but it has become popular and now ranks among the most valuable digital currencies. Dogecoin was initially introduced on December 6, 2013, by Billy Markus and Jackson Palmer and has been gaining popularity since then. Dogecoin’s mascot is the Shiba Inu dog from the “Doge” Internet meme that captivated popular culture in 2013. The word dogecoin comes from an alteration of the word ‘dog’ with ‘coin.’ On December 19, 2013, one doge was equal to $0.00095, which makes it worth significantly less than Bitcoin. However, in 2021, the price of 1 doge is equal to $0.313064, which is a significant improvement.
Litecoin is a peer-to-peer cryptocurrency based on the Bitcoin protocol. It is one of the first altcoins to be released and has since seen steady growth. It’s designed to be used as money for daily transactions, and to achieve that goal; it offers lower transaction fees than its counterpart Bitcoin. Litecoin uses an algorithm called Scrypt, which makes mining less time-consuming and more accessible to people with regular computers. Litecoin was created in 2011 by Charlie Lee, who worked at Google but left to work on Litecoin full time because he believed his vision would benefit society through faster transactions, increased security, and low transaction fees. It has recently been getting more attention from investors for its potential competition against Bitcoin.
The cryptocurrency, XRP, is a digital asset that has been making waves in the industry. It is the world’s sixth-largest cryptocurrency by market cap, and it has been steadily climbing up this list. It was created in 2013 as an open-source software project to solve a particular problem with international money transfers that take too long. Ripple (the company that owns XRP) created XRP for their own use before deciding to release it to the public as well. Unlike other cryptocurrencies like Bitcoin or Ethereum, there is no mining process of new coins, all 100 billion are already out there.
5. Stellar Lumens
Stellar is an open-source and decentralized network that connects banks, payment systems, and people. Stellar Lumens or XLM is the cryptocurrency of Stellar that has gained popularity among investors. Jed McCaleb created Stellar Lumens, who also founded Ripple and Mt. Gox (a Bitcoin exchange). The project aims to serve as an open financial technology that gives people more control over their economic lives. The XLM or Stellar Lumens can be traded against major cryptocurrencies such as bitcoin (BTC) and Ether (ETH). The closest competitor of Stellar Lumens is Ripple that controls another altcoin named XRP.
With so many cryptocurrencies on the market today, it can be difficult to know which ones are worth investing in. But among them, these are the top 5 altcoins to check out in 2021. If one or more of these coins sound like they might be worth exploring further, make sure to do your research before investing any money into it that may not live up to its hype.