when the Bitcoin protocol was created in response to the economic calamities inflicted by the financial crisis, the world now had a novel asset class, not just a new digital currency. A dozen years later, there are thousands of cryptocurrencies, with varying specialties and differing degrees of utility, adoption and promise. In such a broad market, which now accounts for at least $1.3 trillion, how can investors decipher which are the best cryptocurrencies to invest in? Here's a look at seven of the best cryptocurrencies to buy in 2021 and the bull case for each. Just as in the CryptoCurrency market, investors should wager only with money they're willing to lose, as even the most blue-chip cryptos can be wildly volatile.
Bitcoin Cash (BCH)
As the first cryptocurrency, Bitcoin was a canary in the coal mine for other digital currencies that would follow. One aspect of the currency that many users and developers became frustrated with was the small size of the "blocks" of data on the Bitcoin blockchain, which is capped at 1 megabyte. That limit began slowing transaction times and increasing fees, an issue Bitcoin Cash sought to alleviate when it split off, or "forked," from its parent in 2017, adopting a block size of 8 MBs. Sure, BCH isn't as stable or widely used as its namesake, but it has a greater potential to scale and is the 12th-most valuable cryptocurrency in the world.
: The short term trend of Bitcoin continues to be range bound. This consolidation movement could continue for the next 1-2 sessions before showing sell trend of the range movement, say experts.
Ethereum (ETH)
The Scottie Pippen of cryptocurrency, Ethereum has been capably playing second fiddle to Bitcoin for years now. With a market capitalization of about $276 billion, Ethereum's share of the overall crypto market, is about 18% – a far cry from the 47% commanded by Bitcoin but more than four times the next-closest token.The native currency on the platform is technically called ether but is colloquially referred to as Ethereum. The leading platform for decentralized finance, or DeFi, Ethereum allows users to create smart contracts that automatically execute when certain conditions are met. The potential to cut out third parties such as banks, brokerages and clearinghouses makes Ethereum an exciting, money-saving platform.
: The short term trend of Ethereum continues to be range bound. This consolidation movement could continue for the next 1-2 sessions before showing sell trend of the range movement, say experts.
Cardano (ADA)
Like Ethereum, Cardano is a decentralized blockchain platform that uses a native cryptocurrency, in this case Ada, to enable secure peer-to-peer transactions. It was founded in 2015 by Ethereum co-founder Charles Hoskinson, who left what is now the leading platform for decentralized finance to found Cardano, which is designed to use a fraction of the energy demanded by Bitcoin and Ethereum. One way Cardano does this is by using a "proof-of-stake" protocol that doesn't incentivize high energy usage and is an increasingly popular way for blockchains to validate transactions for security reasons.
: The short term trend of Cardano continues to be range bound. This consolidation movement could continue for the next 1-2 sessions before showing sell trend of the range movement, say experts.