- The crypto market has grown and evolved so much over the years. Gone were those days when the types of cryptocurrency could be counted on one hand.
Now, there are so many types of coin in the world. Like so many. Examples are Bitcoin, Bitcoin cash, Litecoin, Ripple, Stellar, Cardano and so on. Understanding the different types of cryptocurrency gives you the power to decide what to invest in. When you’re familiar with these digital assets, you will be able to know the best crypto to buy or trade in. Among all these, here are the top 5 best coins to trade in 2021.
Bitcoin was the first of its kind and the most popular form of cryptocurrency in the world. The fact that Bitcoin has dominated the world since its inception doesn’t mean it has been a smooth ride all the way. Bitcoin rose to a high of about $20,000 in December 2017 before collapsing in 2018 to about $3,000 by the end of that same year. However, Bitcoin has also enjoyed a comeback as prices rose to more than $40,000 in January 2021 thereby accounting for more than 69% of the crypto market. If you are a new investor, Bitcoin is one of the best coins to trade in.
Ethereum is a software platform in which users can exchange a cryptocurrency called ether. Ethereum has only been around for 3 years and in that short period, it has managed to qualify as the second largest traded coin after Bitcoin. While Bitcoin has a market cap of almost $600 billion, Ethereum has a market cap of almost $139 billion. Investors profit from the platform which has become popular for other cryptocurrencies and also from the uses of Ethereum itself.
Litecoin was created in 2011 by former Google employee, Charlie Lee to help fix the problem of complexity of cryptocurrencies. Litecoin is a “lite” version of Bitcoin. It was created with the intention of improving transaction times. Mining of Litecoin is easier than that of Bitcoin. In fact, ordinary PCs are capable of mining Litecoin unlike Bitcoin that takes specialized hardware to mine it.
Bitcoin Cash (BCH)
Some miners initiated what is called ‘a hard fork’ in August 2017, creating a new currency known as Bitcoin Cash. Bitcoin Cash is able to process transactions more quickly than Bitcoin, meaning that the wait times are shorter and the transaction processing fees are lower. The Bitcoin Cash network can also handle a lot of transactions per second, compared to Bitcoin.
Binance Coin (BNB)
Binance is the largest cryptocurrrency exchange in the world and Binance Coin is the official token of the Binance exchange. It allows users to trade in with other cryptos with ease and currently, Binance Coin is the most affordable.
Whichever coin you have in mind to trade in, contact us at Prestmit today for further enquiries.