Best Cryptocurrency in 2021 – In 2021, some daunting cryptocurrencies are taking the world by storm and there is no stopping them. Some cryptocurrencies are taking it to a whole new level when it comes to the value and the ease of use they offer.
Most of these cryptocurrencies are not just stores of value, rather they offer practical services for businesses, developers, digital artists, and so many others.
We will be unveiling best cryptocurrency in 2021 which are currently making waves and taking the world by storm.
Monero aka the privacy currency is a privacy-centric digital asset. Currently, Monero (XMR) is a high-demand confidential currency. This cryptocurrency is one that you would purchase for high-level privacy and anonymity. Popular cryptocurrencies like Bitcoin and Ethereum operate transparent blockchains which means their transaction can be traced and linked to real-world identities. With Monero it is different.
Monero operates a dark blockchain which means recipients won’t know who you are or how you received your money. This is because Monero uses privacy-enhancing technologies to ensure anonymity. According to Monero, the platform offers fast electronic cash with no multi-day holding periods, check clearing fees, or other things that can keep transactions pending.
Additionally, Monero is decentralized, which means users don’t have to bother about a single controlling authority being in charge of their transactions. Since there’s always a demand for private, anonymous currency, Monero still ranks as the best cryptocurrency in 2021.
However on the downside, Monero is always delisted from exchanges owing to its non-transparent operations. You can buy Monero at Binance.
Ethereum is the most popular cryptocurrency after Bitcoin. This cryptocurrency has an upward trajectory and is the best in terms of utility because of the booming NFT market.
Launched in 2015, Ethereum seeks to create a platform where developers can build and host apps without centralized entities like Google and Apple. Ethereum’s mode of operation is allowing decentralized apps (dApps) to run on the blockchain (a peer-to-peer network of computers). This cryptocurrency also has a smart contracts functionality which boycotts middlemen by using code which auto-executes actions once certain terms and conditions are met.
On the downside, Ethereum has ridiculously high gas fees and is also slow in processing transactions. You can buy Ethereum at Binance, Bittrex, Coinbase, Coinmama, Gemini and on Kraken.
VeChain is one of the best business-centric cryptocurrencies that you can invest in in 2021. This cryptocurrency uses business-oriented blockchain technology and has quite some big-name partnerships. VeChain targets several industries, including healthcare, logistics, automobile, and fashion.
This cryptocurrency was originally launched as an avenue of thwarting knock-offs. VeChain uses blockchain technology, which means the data can’t be changed, which comes as a huge advantage for businesses. In the event where anything goes wrong on the supply chain, the blockchain record will reveal where things went wrong.
The cryptocurrency that lives on the VeChain network is VET. To get more priority while using VeChain resources is dependent on the VET an enterprise holds. Another token used by VeChain is VTHO, which pays for the power and energy required to carry out transactions. VeChain has already secured partnerships with established companies like BMW and Sam’s Club.
On the downside, VeChain’s two-token network can confuse investors.
You can buy VeChain at Binance.
AAVE is one of the best cryptocurrency for the peer-to-peer lending. Priced at $454, this cryptocurrency is one of the most useful cryptocurrencies. First launched in 2017 under a different name, ETHLend, in 2019, the crypto project was rebranded as “AAVE”. AAVE, runs on the Ethereum blockchain and according to WealthSimple, there are three major advantages to AAVE’s peer-to-peer ending project.
First, AAVE allows users to take out loans for cryptocurrencies. Secondly, users do not need to submit personal information in order to get approved for loans. AAVE is not particular about your credit score, race, socio-economic status, and other social factors. Once you have cryptocurrency that you can use as collateral you are to go to borrow on AAVE. For the third advantage, acquiring loans on AAVE is reportedly almost instantly.
On the downside, AAVE is not a beginner-friendly cryptocurrency or platform. You can buy AAVE at Binance, SushiSwap
Polkadot is adjudged to be the best cryptocurrency for blockchain interconnectedness and priced at $38. Polkadot aims to connect all major blockchains under one network and has room for a lot if growth. This is to enable them to communicate and carry out operations together. Polkadot has a concept called cross-platform interoperability (CPI), which can be said to be a cross-platform play for cryptocurrencies.
The downside of Polkadot is that its CPI concept has not come into reality yet. You can buy Polkadot at Binance, Digifinex.
Cardano is priced at $1.75 and takes less energy consumption as compared to BTC. The ADA cryptocurrency lives on the Cardano blockchain. Founded by Ethereum co-founder Charles Hoskinson in 2015, Cardano seeks to feature smart contract functionality. One of Cardano’s objectives is to offer speedy cryptocurrency transactions.
Cardano uses the proof-of-stake (PoS) algorithm. PoS, is quicker and consumes less energy than the PoW method. Cardano boasts of being a peer-to-peer reviewed blockchain, which means any updates to the platform are thoroughly researched and validated by experts.
The downside about Cardano is that it is still being developed. Also is does not have smart contract or dApp capabilities yet. You can buy Cardano at Coinbase, Binance.