Is it ideal to Invest in Cryptocurrencies during the Second Wave Pandemic of 2021?

Cryptocurrency is digital money that isn’t like the normal currency as it is never managed by a central institution like the government of a country. This cryptocurrency is based on blockchain technology and Bitcoin is definitely the most common one. As digital currencies start gaining momentum on Wall Street, there are increasingly large numbers of options that become available. Did you know that there are presently more than 5000 cryptocurrencies in the market?

How to rate the best cryptocurrency choices?

If you had to choose the best picks, here are the few factors that need to be considered for choosing the best:

ü  Longevity: For how much time has this cryptocurrency been in the market? Although the newer ones aren’t ruled out instantly when they have historical data to fall back on, they are seen as more reliable.

ü  Technology: Can you compare your platform in terms of security and usability? The foremost thing to consider is the speed through which the transactions may occur. You also have to ensure that your investment is secure and safe.

ü  Track Record: How has the respective company performed in the last years of its business? Do you stability in prices? If yes, this is a positive sign!

ü  Adoption Rate: Are there too many people who are investing in the cryptocurrency that you’re choosing? If there is a high level of adoption, the cryptocurrency will have better liquidity.

Best Cryptocurrency Investments to watch out for in 2021

1.       BITCOIN

Bitcoin has been in the business for a pretty long time now and you’ll easily know what makes it the leader. With a price, market cap, and volume which is higher than all other investment options, it is, therefore, a leader. Bitcoin still represents 50% of the cryptocurrency market cap.

2.      ETHEREUM (ETH)

Ethereum is not similar to Bitcoin as this is not just a cryptocurrency but also a network that lets developers in creating their own cryptocurrency by using the Ethereum network. While its value is much behind Bitcoin, it is certainly ahead of its other competitors.

3.      BINANCE COIN

Binance is one of the few cryptocurrencies which saw its peak level post-2017 and during that year, a bull market and the cost of all cryptocurrencies rose, reaching a peak before again decreasing in value. Binance is slow as its consistent trend.

4.      TETHER (USDT)

This is said to be the most stable among all cryptocurrencies as it is tied to the American dollar. For every unit of Tether, there is 1 dollar in the Federal Reserve Bank and this makes it perfect for investors to transact with this cryptocurrency.

5.      CARDANO

The Cardano network has a rather smaller footprint and this is also appealing to investors for several reasons. Transactions are cheaper and faster with Cardano and it claims to be more secure and adaptable. Cardano keeps improving its development for moving ahead of its hackers.

Therefore, now that you’re wondering about whether or not to invest in the cryptocurrency market, you may choose to do so with the above-listed cryptocurrency options.