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Top 5 Cryptocurrencies for new investors to invest in 2021

Top 5 Cryptocurrencies for new investors to invest in 2021 - India News in Hindi

Introduction
Cryptocurrencies are digital or virtual means of payment secured by cryptography. Cryptocurrencies are based on blockchain protocol and use complex codes to encrypt data transfers for secure exchange. Blockchain technology ensures the integrity of the transaction and is a cornerstone of most cryptocurrencies.

Cryptocurrencies lie outside the ambit of government control and central authorities and are immune to government manipulation and interference. It is believed to be the brainchild of Satoshi Nakamoto (group or individual). The identity of Satoshi Nakamoto is still a mystery. It seems Satoshi wanted to create a decentralised payment method that was accepted across borders and was beyond the control of any institution.

Bitcoin was the first blockchain cryptocurrency introduced in 2009 and is still the most popular one. However, there are many altcoins (alternative coins: an alternative to Bitcoin) gaining popularity. There are almost 9000 altcoins but, most are yet to make a mark!

Cryptocurrencies to Invest in 2021.

Being young allows you to save more as you have fewer responsibilities; it also allows you to invest for a longer time frame.
If you are beginning your investment journey or are still new on this road, you should explore cryptocurrencies as an investment option. You can register with a cryptocurrency exchange in India if you wish to invest in crypto.
Let us look at five popular cryptos to invest in 2021.

1. Bitcoin (BTC)

Bitcoin is the oldest kid on the block; you might think the new kids will steal its thunder but, that is not to be. It is still going strong; it has a market cap and volume higher than any other investment option. Bitcoin has more than 70% share of the crypto market.

Many businesses accept Bitcoins; Tesla was the latest addition to the list. Some large banks are also beginning to offer Bitcoins transactions. Other advantages are that it is well established and has broad support.

The steep fluctuations are a cause of concern if you are looking at investing in Bitcoin. Many cryptocurrencies built on technically superior platforms exist in the market; this could be a potential threat to the popularity of Bitcoin.BTC to INR (April 10, 2020): Rs 4468644.67

2. Ethereum (ETH)
Ethereum was launched in 2015; it is a decentralised, open-source blockchain network with smart contract functionality. Ether or ETH is the altcoin native to the Ethereum platform. Ethereum built on Bitcoins' public blockchain model and added features to it.

Liquidity is one of the most attractive features of Ether. You can trade in it anywhere in the world. Ethereum can easily be exchanged for other assets and cash instantly with low fees. Ethereum has a loyal team and community supporting it.

Price volatility and its slow processing speed are the chief risks associated with investing in Ether.
ETH to INR (April 10, 2020): Rs. 160403.94

3. Litecoin (LTC)
Litecoin can be said to be a contemporary of Bitcoin. It was established in the year 2011 to deal with speed issues related to the Bitcoin platform. Litecoin can complete transactions four times faster than Bitcoin. It was the first crypto to complete the Lightning Network transaction in less than a second.
If they expand the use of the Lightning Network, the value of Litecoin could rise exponentially. The transaction speed and its sterling reputation are the main advantages of investing in Litecoin.

Limited support among merchants is the downside if you are looking at it as an investment. It is also volatile but, the fluctuations in price would be lesser when compared to Bitcoin.
LTC to INR (April 10, 2020): Rs. 18590.83

4. Polkadot (DOT)

Polkadot was created by an Ethereum founder, Gavin Wood, who broke away and established Polkadot to have a better network. Polkadot is one of the youngest cryptos; it has grown tremendously and is the sixth-largest cryptocurrency by market cap.

Polkadot offers a real connection between different cryptos; the crypto community increasingly relies on it, making it too big to fail.

Polkadot is relatively new and has a short history. This lack of track record for comparison makes it a riskier investment amongst cryptocurrencies.
DOT to INR (April 10, 2020): Rs. 3080.91

5. Binance Coin (BNB)

Binance Coin is the cryptocurrency accepted as a payment method for the fees associated with trading on the Binance Exchange. It is a utility token with the primary purpose to offer traders a discount on the fee they pay on the Binance Exchange, founded by Changpeng Zhao.

The value of BNB comes from its utility on the Binance Exchange that is one of the fastest-growing cryptocurrency exchanges. In times of volatility in the crypto market, investors are attracted to Binance Exchange, pushing up its value.

Binance Coin relies on the Binance exchange that makes it risky. If the Binance Exchange crashes or faces some legal hurdles, the value of the BNB could fall drastically.
BNB to INR (April 10, 2020): Rs. 37358.74

Conclusion

Your decision to invest in cryptocurrency should be based on your investment goals and your risk appetite. Choosing a cryptocurrency exchange in India to register with is the first step. Choose a cryptocurrency exchange based on its security features, the fee they charge, the support they offer and volume and liquidity.

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Web Title-Top 5 Cryptocurrencies for new investors to invest in 2021
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