Interest towards cryptocurrency increased when the pandemic hit which means that the market value of top cryptos including Bitcoin was also on the rise. There are also a lot of new crypto enthusiasts investing for the first time.
With the expanding industry becoming even more mainstream, there is no doubt that there are a lot of new coins wanting to break through the top spots of the market. At the same time, the value of the most popular cryptos in the world continues to be worth the investment this year.
Your digital cash
It is undeniable that it can be overwhelming to choose the right crypto to invest in but checking a comprehensive and simple guide to cryptocurrencies can be quite helpful even to people who are not new to the industry. Here are some of the top cryptos in 2021:
It might not be obvious but Ripple is recognized by more than 100 financial institutions. To accommodate more users, its blockchain is made available across 55 countries and to more than 300 providers.
One of the interesting features of Ripple is that it can solve the five major issues of a blockchain such as transparency, traceability, speed, security, and risk management. Ripple is also partnered with the Bank of America and HDFC Bank Limited (HBD).
It is known as the second-largest crypto in the market after Bitcoin. Ethereum has an open-source blockchain which is used for decentralized applications (dApps). It is the second most liquid crypto which can support smart contracts. Ethereum also has a non-hierarchical network of computers or nodes that creates blocks.
Ever since it was introduced in the market, it has always been in the spotlight. Litecoin is actually an open-source software project released in 2011. When the first decentralized LTC-based RPG LiteBringer was released, it made a huge impact on the market. In fact, the total number of LTC transactions tripled. With its improved performance, there are a lot of predictions wherein its value will continuously increase.
Basic Attention Token (BAT)
The Basic Attention Token or BAT is actually one of the new coins released in the market that immediately gained popularity. It is a blockchain-based token which is used to track media consumers’ time and attention span.
One of the reasons why it attracted the attention of most crypto enthusiasts is because of the idea of decentralizing the ad ecosystem. It also aims to remove third parties that do not contribute to the revenue of the advertisers, publishers, and users in the Brave web browser.
As the first crypto ever released, Bitcoin is the most expensive and versatile out of all cryptos. It is also regarded as the ‘gold of crypto coins’. You will never go wrong with Bitcoin because its value is continuously increasing even if there are a lot of new coins released.
Advantages of using crypto
Even if there are still some sceptics about the use of crypto, you can’t deny the convenience it brings. As a matter of fact, there are already a lot of huge companies and financial institutions that recognize the advantages of using it. Here is a simple guide to cryptocurrencies and their advantages:
Low transaction fees
You do not need to worry about transaction fees. This is because most crypto transactions require little to no service fees at all. All you need to do is to find a trusted e-wallet which you can use to send, receive and store coins.
Most crypto transactions do not require you to provide personal information when receiving or sending money. The chances of being hacked or being victimized by online fraudulent activity is very low. All you need to provide is your Bitcoin or e-wallet address.
Moreover, even if your transactions are recorded in the blockchain, your information is hidden. For instance, if you buy a diamond ring using crypto, the transaction is recorded but other users or even hackers won’t easily track you.
One of the reasons why the number of crypto users is continuously increasing is because transactions are decentralized. This simply means that the government or any financial institution has no control over it.
You can send and receive money 24/7. There is also no need to visit the nearest bank because you can use your phone or laptop to complete a transaction. There are also some sites where you can just scan the QR code to pay.
Aside from reading a simple guide to cryptocurrencies, it is also best to familiarize yourself with the crypto market. This will help you a lot in trading coins. Take it slow and explore the world of crypto.