The cryptocurrency industry is always buzzing with exciting developments.
A cryptocurrency is a form of currency that relies on digital files as its base. Most files use the same techniques as cryptography (which conceals information). It isn’t possible for governments or individuals to control cryptocurrency, as it uses “decentralized control.”
Here are seven of the best cryptos to buy right now:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Axie Infinity Shards (AXS)
- Cardano (ADA)
- Binance Coin (BNB)
- Wilder World (WILD)
As a field, cryptography is characterized by big ideas with a capital B. In a white paper from circa 2009, Bitcoin explains a global electronic currency that’s decentralized, peer-to-peer, and scarce. After 12 years, it has grossed over 2 trillion US$ with the options to choose from thousands of digital currencies and projects. It is a lot of work involving research and in-depth knowledge as there are no analytical reports or references available in the standard formats. So be ready at the back of your mind to invest with the equal chance to lose. Each cryptocurrency is not the same, but we have the top seven to look for in the last quarter of 2021.
When Bitcoin was created in 2009, it forever altered how money worked and allowed just about unlimited possibilities for its improvement. Bitcoin and the blockchain it fueled are monumentally important, but it isn’t easy to understate how important they have become 12 years after bitcoin’s launch. It isn’t just tried and true, but BTC keeps setting new milestones as the top “blue chip” cryptocurrency. Tesla Inc. (ticker: TSLA) is doing a great thing by adding Bitcoin to its balance sheet. El Salvador has also made significant progress with the legalization of the money. BTC has become mainstream thanks to these two landmarks actions. As of now, BTC is still in its early stages of corporate finance penetration, given that trillions of dollars still sit idle on balance sheets as cash or cash equivalents.
Ethereum became the second-biggest crypto in 2015 and is perhaps the only one considered a blue-chip token by businesses. The digital currency has slowly eroded Bitcoin’s share of the overall crypto market thanks to its growing market share in the nascent and quickly growing field of decentralized finance. There is a dramatic drop of 15% in the BTC to ETH ratio in today’s market, with BTC now holding 45.1% of the market. The first quarter of 2021 saw Bitcoin dominate the market with 70.7%, while Ethereum had a meager 10.8% share. Currently, BTC stands at 45.1%, while ETH is at 18%. The decline in Bitcoin’s market share is attributed to ETH by a third of the extent.
Solana, bursting onto the scene from obscurity, began the year with a 0.01% market share and will become one of the top 10 cryptocurrencies by market capitalization by the end of the year. Decentralized apps, or Dapps, are created on Solana, like Ethereum. In this way, traditional financial gatekeeping was eliminated. Examples include exchanges, brokers, clearinghouses, and banks.
When it comes to Solana, novelty is a plus. Solana is based on the Rust programming language – one of the easiest programming languages available. Ethereum-like networks have drawn fantastic engineering talent. In addition to its superior speed, SOL offers a much lower fee structure than ETH. Its value has soared from $1.51 to over $160 in just 2021, about 100fold.