Most Popular Top -10 Cryptocurrencies of 2021
The more we read about cryptocurrencies, the more we feel convinced that these currencies are here to stay in the longer run. People have been muddled by continuously hearing the pros and cons of cryptocurrency, but the picture is getting somewhat clearer now.
Now that the concept is becoming clearer by the day, people are getting interested in working with this new currency, especially the millennial. Many advanced economies of the world have already adopted this concept and are looking forwards to ways to assimilate it into their economical cycle.
Why are we talking about the most popular cryptocurrencies?
Now that more and more people are getting interested in this field, it is important that they invest their hard-earned money in a currency that yields them maximum benefits. With a new cryptocurrency emerging out every other day, it becomes quite difficult for investors to decide, as to where should they put their money.
ICO’s are a big inconvenience and some coins just vanish with the exact same speed of light they appeared with. There is a nervousness of losing money as the risk is high but one should never forget that the reward is even higher. And there is no market without risk. Your money could get 100 times multiplied overnight.
So, the risk-reward system exists in the market of cryptocurrency as it prevails in every other market. Even though there are huge price fluctuations; more and more people are getting interested in trading with cryptocurrencies. But the dilemma of an investor, as to where to invest, still stays there. And that’s why we have addressed this topic.
We have compiled a list of the Top 10 most popular cryptocurrencies of the first quarter of 2021.
Let’s discuss the top-10 most popular cryptocurrencies of Quarter-1 of 2021.
The cryptocurrencies that we have discussed below have been around for a while now and have proved to be profitable for those investors and traders, who decided to invest in them. Before actually starting trading in the cryptocurrencies you would need crypto wallets and we recommend using the cold wallets as they are ultra-safe, such as the one’s provided by the United Exchange.
Here is the list of the top-10 most popular cryptocurrencies of quarter-1 of 2021, hand-picked by the United Exchange.
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Stellar (XLM)
- Cardano (ADA)
- Nem (XEM)
- Uniswap (UNI)
- Monero (XMR)
- IOTA (IOTA)
Bitcoin (BTC) – Bitcoin is a giant that is ruling today’s cryptocurrency market. It is the currency in which most investors want to invest. It has dominated the market cap and is on the fleek among the new as well as old investors. BTC has the maximum number of data stored on its blockchain. It was the first cryptocurrency that recorded transactions on a fully secure and decentralized blockchain network.
BTC is a very volatile coin with a launch limit of a total of 21 million coins in the market. The investors, who invest with a long time holding point of view, do stand a chance of earning extra-ordinary gains.
It has established itself so well that now it has been used as a base currency to buy and trade in other cryptocurrencies as well. It means you need BTC to buy many other cryptocurrencies.
The Bitcoin software is free of cost and it is available online to anyone who wants to run a Bitcoin node and store their own copy of the Bitcoin blockchain. A new BTC is mined every 10 minutes by a miner who helps to maintain the network by adding new transaction data to the BTC blockchain.
At the time of writing, the value of one BTC stands at- 40,93,249.12 /INR or 56,201.50 USD.
Ethereum (ETH) – After it’s launch, Ethereum (Ether) was looked upon as a cryptocurrency that would snatch Bitcoin’s throne. Well, it did not work out that way, because, Ethereum was created as a platform or a complementary currency to Bitcoin, rather than as its competition.
Ethereum holds the second position in the market, in terms of market cap and its software is definitely an improvement over Bitcoin. As we know, Ethereum isn’t a cryptocurrency, it is, in fact, an open-source platform that runs the smart contracts, and on which the cryptocurrency Ether (ETH) operates.
There is yet no specified limit to the issue of ether in the market. A large number of DeFi projects (maximum in terms of percentage) and decentralized applications are based on the Ethereum platform. Eth is very easily traded among many other cryptocurrencies and it proudly holds the ‘number-2’ position in the market.
At the time of writing, the value of one ETH stands at- 1,28,005.63 /INR or 1,787.959/USD.
Litecoin (LTC) – Litecoin was launched in 2011 by ‘Charlie Lee’. It is quite similar to Bitcoin in its infrastructure but its transaction fee is far less as compared to other cryptocurrencies. The speed at which the new block is added to the blockchain is higher as compared to Bitcoin.
The supply limit that is set for Litecoin is 84million Litecoins.
A miner for LTC creates a new block approximately every 2.5 minutes which is four times faster than BTC. The LTC is seeing an increase in its demand and price based on the supply/ demand relationship in the market. This cryptocurrency has the potential to hold a steady place in the future and is ranked at number-5 in terms of market capitalization.
At the time of writing, the value of one LTC stands at- 15,032.32/INR or 206.62/USD.
Ripple (XRP) – Real-time Gross Settlement System or Ripple is much more than just an exchange of value. It is a currency exchange and a remittance network that is validated by independent servers. It works with financial institutions to lower the currency exchange rates and provide for real-time exchange rates.
The currency traded is known as XRP. It can be exchanged for most other currencies because of its unique selling proposition of avoiding the fees and wait time, which is a commonly associated problem with banks. Ripple greatly improves the efficiency of cross-border transactions.
Ripple provide real value in the world, which is way beyond basic exchange or store of value premise ;ripple works on a hash-tree instead of a blockchain. The supply limit of XRP is 100billion. XRP is quite popular with banks, unlike many other cryptocurrencies.
At the time of writing, the value of one XRP stands at- 33.86/INR or 0.45063/USD.
Stellar Lumens (XLM) – Just like Ripple, Stellar is also a great tool for cross-border transactions. Its functionality is quite similar to ripple and provides a faster exchange of various currencies at a very low price and a very high speed. It is as efficient as its counterpart- ripple but uses a very different approach in its working.
The native currency for Stellar is Lumen (XLM), which is an open-source blockchain payment system. It connects financial institutions via blockchains in developing markets.
To validate transactions, stellar uses an agreement algorithm instead of traditional mining, which means it does not require any kind of approval from the traditional miners. This means it provides quicker transactions than many other blockchain-based systems.
At the time of writing, the value of one XLM stands at- 29.61/INR or 0.41/USD.
Cardano (ADA) – Cardano is launched by a team of engineers and academics, to provide broad-scale use of financial transactions and offers a unique approach to securing the blockchain network.
It is a platform for decentralized apps which allows sending and receiving digital funds. This decentralized platform is non-profit and the currency which operates on this platform is called ADA, which can be used like other cryptocurrencies. ADA is ranked no-6 by market capitalization and shows great potential for the future.
At the time of writing, the value of one ADA stands at- 80.79/INR or 1.11/USD.
NEM (XEM) – NEM (New Economy Movement) is a cryptocurrency and crypto platform based out of Malaysia, which was launched in 2015. Java is the programming language that works behind this cryptocurrency but it can also be written in a wide range of programming languages.
It is very technologically advantageous for companies and is very commercially successful because the companies won’t require a separate tech team for its integration.
At the time of writing, the value of one XEM stands at- 28.26/INR or 0.3936/USD.
Uniswap (UNI) – Uniswap is a decentralized crypto-exchange, which is not owned and operated by a single person/organization. It works on the Ethereum blockchain and was built in 2018. It uses a trading model known as –‘Automated Liquidity Protocol’.
Uniswap is completely open-source and the traders can list their tokens on the exchange for free. The users can control all their funds at all times. It is currently the fourth largest decentralized finance and has nearly 3 billion USD worth of crypto-assets locked in its protocol.
To start working with Uniswap is very straightforward and easy and all you need is an ERC-20 supported wallet. Uniswap’s native token is known as UNI, which is also its governance token. This gives various rights to the holders.
At the time of writing, the value of one UNI stands at- 2,396.54/INR or 32.96/USD.
Monero (XMR) – Monero focuses on the privacy and anonymity of transactions on the blockchain network, just like its counterpart- Zcash. This privacy-focused cryptocurrency was released in 2014.
This open-source protocol is based on ‘CryptoNote’ and is a complicated and jumbled public ledger, which means; anyone can send or broadcast the transactions without anyone being able to tell the source or destination.
Simply saying, the algorithm used in Monero is so advanced that it completely hides any trace of transaction. Monero is on the top of the list of privacy cryptocurrencies and the big news is it is in no way derived from Bitcoin.
At the time of writing, the value of one XMR stands at- 15,924.244/INR or 218.96/USD.
Chain-link (LINK) – Chain-link is one of the most commonly and widely used projects in the cryptocurrency space, as it connects blockchain with the real world. Since it is difficult for the blockchains to connect ‘off-chain’ data with the ‘on-chain’ data; chain-link solves this problem by providing a decentralized oracle service.
Oracle translates the external data into the language easily understood by the smart contracts, hence making them more reliable. Therefore, chain-link is a decentralized oracle network that provides real-world data to smart contracts and allows them to connect to those external data sources as well. Chain-link also aims to solve the ‘Oracle Problem’.
At the time of writing, the value of one LINK stands at- 2,205.169/INR or 30.32/USD.
Conclusion – There are many cryptocurrencies, and just like any other market, the fluctuations in this market also keep on coming. The trade cycles keep on revolving, which is an inevitable part of the market, and definitely the elements, which keeps the market lively.
As a trader, one can’t really run away from risks, but keeping in mind the bigger picture, one can always earn magnificent benefits. Whether you want to hold the crypto for a longer period of time or keep on trading in the short-run depends entirely on you.
We would suggest, always reading the market situations carefully before investing. Keep in mind to invest your money from an authentic source that prioritizes guarding your money, such as ‘United Exchange’.
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