Is investing in cryptocurrency profitable in 2021by Jessica Smith Blogger
Undoubtedly cryptocurrency is the future of the monetary world. Traders have shown tremendous interest in crypto trading from the past few years. Moreover, we cannot ignore that it has provided traders with massive profit compared to conventional commodities and stocks.
If you are thinking of investing in 2021 and confused among various options, virtual coin trading is indeed a better and more profitable trading option. There are numerous options available in the cryptocurrency market to choose from popular bitcoin to ripple to several others. Let's look at the top 5 bitcoins to invest in 2021.
Top 5 bitcoins to invest in 2021
1) BAT or Basic Attention Token:
The BAT or Basic Attention Token reached the zenith of its popularity in the year 20218. But, this virtual coin has still many good things to offer to traders in the year 2021. It is an excellent choice for PR marketing people, web developers, IT industry professionals and content writers. It was developed by the co-founder of the famous Mozilla Firefox. This currency has earned a lot of respect from insider circles and shows a sharp growth each year.
The most interesting fact about the coin is that it is generally used with Brave Browser. You may also receive some Basic Attention token by watching the pricey-preserving advertisements. The advertiser provides you with the minimum amount of 2,5000 dollars per month to present their item to the brave community.
Etherum stands second in the list of popular cryptocurrencies after Bitcoin. It has an excellent market cap. The market price of this coin has skyrocketed in these months. The reason for this huge surge may be the up-gradation of the coin and decentralised finance system. The benefits of Ethereum include supporting smart agreements, enables for decentralised mobile dApps and applications and most liquid virtual currency.
3) Ripple or XPR: The ripple's major advantages include the instant verification of the transfers and the extremely low exchange rate because the verification process does not include the central bank. Ripply is also known for its own digital currency. Moreover, this crypto uses its services to help financial institutions and banks, which, as a result, add to its supports positive forecasts and reliability for the price growth.
The year 2021 is the best time to purchase ripple. You can purchase it this month as its market price is quite low right now. Thus, it is affordable in comparison to other virtual coins in the market today.
Litecoin is also known as the silver of virtual currency. It is a well-known cryptocurrency platform which has attracted a large number of followers. The price of litecoin in November 2020 was 68 dollars. The coin has shown tremendous growth in the current years, and it fell in the list of one of the largest crypto coins of 2020. However, in November of the same year, the coin showed improvement in its position and jumped to the eight positions (in the list of largest cryptocurrency). Analysts appreciated this quick and fast progress in a smaller span. The various advantages of Litcoin include a higher block reward ratio than other opponents and fast mining speed. The average time taken by the miner to mine block is 2 Minutes, which is very low.
5) Bitcoin: The bitcoin is the essence of the cryptocurrency market. You all must have heard about bitcoin. It is the first cryptocurrency launched in 2009. It falls in the list of most versatile and expensive virtual coins. The bitcoin's major benefits include peer-to-peer network, cryptography, user autonomy, absence of banking fees, secured transaction, low international transfer fees, and most importantly, accessibility.
The current forecast about the market price of bitcoin is very encouraging. The top analysts, bankers, and hedge funds experts predict that bitcoin's price will cross the mark of $100,000 by the end of the year 2021. The City bank prediction is that bitcoin may hit the mark of $300,000 in 2020. It is straight 15 times more than its currency value.
The bitcoin value has continued to surprise traders, and hence we can say that investing in such types of cryptocurrencies in 2021 is an excellent idea.
Top financial service providers to invest in cryptocurrency 2021
Till now you must have got that investing in cryptocurrency in 2021 will surely pave the way for massive profit. However, the investment cannot proceed without an authentic brokerage firm's intervention, and finding the best one is another complicated task of the financial world. Thus, we have listed some of the renowned and well-regulated firms for you. Choose the one who stands on your trading expectation better.
1) HFTrading: HFTrading established in the year 2019 and is a trading name of CTRL Investment Limited. The firm is well-regulated and licenced with two financial bodies: the Financial Markets Authority (FMA), and the Australian Securities and Investments Commission. The minimum deposit to open a trade with the broker is $250 with zero commission on trading. The broker earns through swaps and spreads. Though the firm is relatively new in the financial market, still it has attracted many traders and has received many awards for its trading services.
The broker also provides several research tools such as economic calendar, report season calendar, latest news, and trading signals to enhance investors' trading standards.
2) Global TradeATF: Global TradeATF is a trading brand of Bayline Trading Limited, established in 2013. The firm is a well-regulated venture authorised by the International Financial Services Commission of Belize. The broker provides high leverage on trading that is 1:500 and accepts the minimum deposit of $250 from traders. You can pursue trading through advanced platforms such as Meta Trader 4 and Web Trader.
The process of opening an account with the broker is simple and requires just five valuable minutes. The broker's research tools are economic session calendar, report season calendar, latest news, and trading signal. Moreover, you can avail the broker's educational courses, including article, tutorial, video on-demand, and webinars.
How to start cryptocurrency trading in 2021?
To start cryptocurrency trading, you require an online trading account with the broker. The steps for opening an account are the same for every broker. The steps are as follows:
1) Visit the site of the broker and get yourself registered by signing up. It requires your personal details including name, last name, country, email id and phone number for verification.
2) You are required to upload the desired documents after OTP verification. The documents include address proof, identity proof and financial statement.
3) The second last step is choosing the trade you wish to pursue and depositing the amount for the same.
4) Now you can start trading
The Bottom Line
By looking at predictions and market price fluctuations of virtual coins, we can surely say that cryptocurrency is the best investment option in 2021. Just the need is to stay vigilant towards the price shift to earn a better profit. For this, you can use various fundamental and technical indicators or check out the latest news from authentic sources and channels. Always remember that the greater the knowledge about market fundamentals, the greater is the size of profit.
Frequently asked questions
Q1) Which are some popular options for cryptocurrency investment in the year 2021?
Some popular virtual coins to invest in are Bitcoin, Litecoin and Etherum.
Q2) Is it worth investing in cryptocurrency in 2021?
Yes, the cryptocurrency is an ideal option to invest your money in the year 2021.
Created on Apr 26th 2021 02:37. Viewed 148 times.