With the ever-rising demand of digital currencies, we have seen a drastic rise in the popularity of cryptocurrencies from 2017. The amazing part is that these currencies are still growing exponentially even in 2020. The challenge a newbie into cryptocurrency may encounter is knowing which of the cryptocurrencies to invest in. Hence, this write-up sets to inform you about the cryptocurrencies to watch out for in 2021.
Bitcoin is the most popular digital currency and one of the cryptocurrencies to watch out for in 2021. It is currently the most valued digital currency with 1 bitcoin amounting to ₦3,668,551.62 as of June 2020.
It is worth nothing that if you must venture into Bitcoin, you must constantly keep yourself updated with changing information as this serves to guide you on when to invest and when not to. For the best rates to buy bitcoin in Nigeria, i will strongly recommend you visit Nairadirect or Exchange indeed.
Ethereum is a network which uses Ether as its digital currency. It holds second place in the world of cryptocurrencies and it’s seriously gaining popularity.
Ether can be used to transact and can be sent to people in any part of the world. Unlike most of the block chains we have in existence, Ether can be used for many things, such as making payments, investments in digital assets or even borrowing and lending via the enabling applications etc.
As of June 2020, 1 Ether equals ₦90,636.32 whereas in February 2020 it was about ₦50,429.40. This shows how much value the Ether has gained over just a short period.
3. (XRP) Ripple
The next on this list of cryptocurrency to watch out for is Ripple, which is only third after Bitcoin and Ethereum. It was first introduced in 2012. Ripple was conceived by Jed McCaleb and created by Arthur Britto and David Schwartz. Ripple has over one billion dollars worth of cryptocurrency on its network and it is an open source decentralized system that promotes a seamless transfer of money in any form, (yen, dollars, or Bitcoin)
The advantage of ripple is that Ripple uses a group of servers to confirm transactions. Ripple transactions use less energy than Bitcoin, and it takes seconds for transactions to be confirmed. Its confirmation costs very little, compared to its counterpart, Bitcoin and Ethereum, which is costly and takes minutes or a longer time to be confirmed.
There are so many cryptocurrencies in existence, but Bitcoin, Ethereum and Ripple are the most valued cryptocurrencies in the world. For your opinion on the three growing cryptocurrencies to watch out for, please a comment below.
Dogecoin is another cryptocurrency that is going to take the world by surprise. It was first introduced in December, 2013 as a lighthearted alternative to traditional crypto currencies like bitcoin, however there were over a million visitors to it’s official site DOgecoin.com. The site serves as a way of promoting the the currency as the “fun and friendly internet currency” with name Dogecoin and Shiba Inu logo based on a meme.
Dogecoin unlike bitcoin which is intentionally designed to be scarce, is meant to be in abundance. Dogecoin’s value on Coinbase platform as at 03:11pm today stands at ₦69.22, however there speculation that the price will surge to over ₦500.00 before the end of the year.