2020 was full of ups and downs on the market, but it brought many positive surprises. We don’t know for sure what 2021 has in store for us, since the global pandemic is still roaring and recession is expected. Many investors decided to opt for crypto with everything going on since it looked like the best alternative for a traditional financial system since the economy is volatile. It seems like there will be a massive change in the way we deal with cryptos, taking into consideration Paypal decided to accept it and normalize it as a way of paying in general, meaning the growth potential is enormous. 2021 Is going to be full of surprises!
We will outline the top 5 cryptocurrencies to look out for in 2021, and why you should pay attention to them and invest in.
Nothing new to hear, but Bitcoin made some significant changes and paved the way for the rest of cryptos. Bitcoin hit another all-time high just days ago, reaching almost 20000 dollars for one Bitcoin. Experts predict a bright future for those who invest in Bitcoin now, saying it will go to $100 thousand, or even triple that price in 18 months or less. As we mentioned, it is only a matter of time when big institutions adopt Bitcoin as a regular currency, and many companies are already in for accepting payments in crypto.
Always right behind Bitcoin, Ethereum is among currencies that bounced back from the surge that happened right when covid hit. It performed the best during 2020, going steady after the fall, and it’s still the second-largest cryptocurrency. Many people tend to invest in Ethereum rather than Bitcoin because their blockchain network is ideal for decentralized apps, so it was created in the first place. ETH platform can support other crypto platforms, therefore making the decentralized network more prominent and more accessible.
Ripple has an alternative payment ecosystem, and its goal is to transform and make stronger connections with cross-border payments. The most important thing is they guarantee it’s 100% safe, instant and almost entirely free. Ripple was adopted by many financial institutions and had over 300 providers in 40 countries. The most recent supporters include India’s biggest bank (HDB) and the Bank of America.
According to the Official Monetary and Financial Institutions Forum, many argue it’s beneficial to invest in Ripple in 2021 because Ripple could become an alternative to SWIFT. This seems very close because the European Commission’s support encourages a transition to the digital currency, and Ripple would solve issues like speed, cost, security, transparency and risk management.
Litecoin is another significant cryptocurrency and has always been a favourite because it’s “silver to Bitcoin’sBitcoin’s gold”, and its purpose was still to create a fast and affordable system. It’s an affordable cryptocurrency (currently around $90), and they have a high reward for a block during very fast mining (25 LTC per block). It seems like Litecoin will grow slower and climb up to $350 but 3 years from now. It’s remaining in the top 10 crypto list and next year will be no different.
We mentioned how good Ethereum’sEthereum’s ecosystem is in supporting other cryptos, and that’s how Tron was initially launched – by using a peer-to-peer network. Tron’sTron’s goal is to change the entertainment industry and make content creation more comfortable and more democratic than it is now. They partnered with Samsung, Baidu and Chinese version of Netflix – Baofeng.
As you can see, Tron operates as a content-sharing platform, and users can get a reward in the form of TRX (Tron), and it doesn’t require any app store, making the monetization system more transparent. Tron even surpassed Ethereum in terms of dApp transaction volume in 2020.