Crypto Currencies

Is It Too Late To Invest In Cryptocurrency?

It would be nice to travel back to 2010 and buy bitcoins. Every dollar invested in them today would bring a fortune. And many people think that it is too late to buy cryptocurrency now. Like, the train left …

But what if we tell you that now is the right time to invest in cryptocurrencies? And that is why…

By the most conservative estimates, digital currencies are quite capable of occupying the same niche as gold. If we take into account their ability to completely replace ordinary money, it becomes clear: the growth potential of the cryptocurrency industry is simply enormous.

Cryptocurrencies are not owned by any country and are not controlled by the government. They have no physical form; storing them is easy and safe – just know the wallet address and secret key. In doing so, they help protect capital from crises.

The American magazine Forbes has compiled a list of 50 companies that use blockchain in their business. Among them are American Express, Oracle, Facebook and many others. The fact that these companies have shown an interest in developing the future for the cryptocurrency market is already a good indicator and inspires confidence.

Also read: Is Bitcoin Cash a Good Investment in 2021?

Сryptocurrency holders

To begin with, let’s answer the question: how many people in the world own at least some kind of cryptocurrency?

It is actually difficult to count them, mainly because, unlike participants in the modern monetary system, cryptocurrency holders are pseudo-anonymous. The only thing that we can rely on in approximate calculations is the number of wallets. It is rational to consider only two large systems: BTC and ETH. The reason is that they are “convertible” cryptocurrencies (people can buy them directly with fiat money) and they are the main cryptocurrency pair on any exchange.

According to blockchain.info and etherscan.io the number of addresses with ETH and BTC balances above zero is now more than 32,925,521 and 50,476,989.

 Top 5 cryptocurrency to invest in 2021all crypto

When choosing options for investing in cryptocurrency 2021, many analysts and popular members of the crypto community recommend paying attention to assets with high capitalization and a good history. Today these coins include Bitcoin, Ethereum, XRP, Litecoin, and Tether. Based on them, the Actseason editorial team has formed a rating of cryptocurrencies for investment in 2021.

  1. Capitalization leader – Bitcoin

Bitcoin (BTC) ranks first in the capitalization rating. For many, the coin epitomizes the cryptocurrency phenomenon. Some of the crypto community members – bitcoin maximalists – do not recognize other projects. In their opinion, BTC is the only noteworthy and most promising cryptocurrency. As of January 24, 2020, Bitcoin is trading at $ 32,497.20 (blockchain.info).

  1. Almost PoS cryptocurrency – Ethereum

Cryptocurrency Ethereum (ETH) ranks second in the ranking of the most capitalized coins. Ethereum may lose its altcoin status, becoming an independent cryptocurrency. Analysts explained their point of view by the high correlation of ETH and BTC rates. In their opinion, the reaction of the Ethereum rate to events, similar to Bitcoin, speaks of the independence of the project. As of January 24, 2020, Ethereum is trading at $  1,243.89 (blockchain.info).

  1. Centralized but equally popular XRP

The market capitalization of Ripple’s cryptocurrency startup XRP puts it in third place in the ranking. Ripple is a project that solves real problems. At least that’s what his CEO thinks. The benefits of Ripple’s technical solutions, in his opinion, will allow the project to survive at a time when “99% of existing crypto projects will be useless.” The need for startup developments will support the digital asset. As of January 24, 2020, XRP is trading at $ 0.2741 (blockchain.info).

  1. Litecoin – a veteran of the cryptocurrency industry

Litecoin cryptocurrency (LTC) is one of the oldest digital assets. Now it is in 7th place in the capitalization rating. Many people think that Litecoin is a good cryptocurrency for long-term investments. As of January 24, 2020, Litecoin is trading at $ 138.68 (blockchain.info).

  1. The most popular stablecoin Tether

Cryptocurrency Tether (USDT) is the most popular stablecoin in the digital asset market. Ranks fourth in the overall ranking of cryptocurrency capitalization. Tether is a stablecoin pegged to the US dollar. Investing in USDT is a convenient alternative to investing in fiat. As of January 24, 2020, Tether USDT is trading at $ 1.00 (blockchain.info).

The choice of investment must be made based on the characteristics of the digital asset and goals. For example, the stablecoin Tether is not suitable for making money on the difference in exchange rates. Manipulations with the XRP rate – on the contrary, can attract traders. Most often, the leaders in terms of the total trading volume are the most popular cryptocurrencies. These are the ones that traders usually pay attention to.

Conclusions

Cryptocurrencies are not suitable for all investors, but if you were going to enter this market, then now is the right time for this. The journey will be challenging but exciting.

Returning to our metaphors, the bitcoin train started moving, but did not leave the station. You can still jump into it. Cast aside doubts and run while you have time!

Leave a Comment