Billionaire Elon Musk, CEO of SpaceX and Tesla, frequently tweets about various cryptocurrencies, affecting their prices. For example, Musk posted a photo of his Shiba Inu puppy several times during 2021, which seems to have pushed the price of the Shiba Inu token up. But on October 24, Musk stated that he did not buy any cryptocurrencies other than Bitcoin, Ethereum, and Dogecoin. The Shiba Inu rate reacted with a drop of 20%. To avoid losing on unreliable currencies, we recommend focusing on the promising assets alternative to Bitcoin.
Top-5 Currencies to Invest in 2021
1) Ethereum
Throughout 2020, Ethereum strengthened its position in the market, and in 2021, it broke its price record by two times, reaching 4.3 thousand dollars. Interest in Ethereum is fueled today by the launch of Ethereum 2.0, which will be completed by the end of this year. The coin will move to the Proof-Of-Stake algorithm, which allows the decentralized application to run more smoothly and efficiently. It is also the most popular NEXO crypto, alongside BTC and NEXO itself.
2) Litecoin
Litecoin is the younger brother of Bitcoin, based on its protocol. Litecoin differs from its “big brother” in ease of use and transaction speed. We can compare the speed of sending and receiving the Litecoin payments to sending a message in instant messengers. Plus, the withdrawal fees are lower than those offered by a credit card company.
3) Ripple
Another dynamically developing cryptocurrency from China is Ripple. Its developers do not focus on ordinary users as many other cryptocurrencies do, but giant financial corporations. They see their product as a bridge between traditional banking systems and digital payment technologies. The development team is making a considerable effort to modernize and promote their brainchild.
4) Chainlink
In 2020, the cryptocurrency occupied first place in the list of digital assets with the highest return on investment. This is one of the main arguments for investing in this token, especially in the long run. Last year, the coin rate increased from $1.5 to $20 to be a solid dynamic for the beginner. If the trend continues, then according to the forecasts, the cryptocurrency will compete with Bitcoin and Ethereum by 2022.
5) Binance coin
This cryptocurrency comes from the largest cryptocurrency exchange — Binance. There was a positive trend in the token throughout the year, including the Binance exchange itself. If the forecasts come true, the coin will have excellent prospects in 2022. In particular, it will be possible to reduce commissions on the Binance exchange, which will positively affect its competitive position.
Finally, it is essential to understand the risks of investing in electronic assets. The rate of many coins and tokens depends on the difficult-to-track factors. Therefore, it is crucial to be wise when choosing a cryptocurrency for investment.
