The cryptocurrency market cap is increasing globally due to the growth of the crypto industry. Once upon a time, there must have been a thought in your head of investing in any cryptocurrency. Are you still thinking about that? Are you considering investing in cryptocurrencies?
Wait! In order to opt for the cryptos worth investing in, it’s a wise decision to analyze the market and listen to what the experts say.
Before investing in any cryptocurrency
If you are planning on investing in digital coins, please keep in mind:
- The digital currency market is known for its volatility and rapid pace.
- Investments can increase in value as well as decrease.
- If a trading platform promises you large returns, this is a scam.
- It’s important and useful to read the project’s white paper to decide if it is worth investing in.
- Always check the seller’s registration with the UK Financial Conduct Authority (FCA).
Are cryptocurrencies a safe investment?
The price of cryptocurrency changes constantly, causing it to be attractive when its candle is green, but less appealing when it’s red and pointing down.
Recent announcements from Musk sent the market into a tailspin after Tesla decided not to accept Bitcoin as payment for its products due to “environmental issues.” Another blow came when China announced plans to enact stricter laws around cryptocurrency trading and exchanges, which sent the market plummeting even more.
Cryptocurrencies are high-risk investments due to their volatility, and regulatory bodies such as the UK’s Financial Conduct Authority warn investors from this. Despite this, crypto users seem unphased, stating that the potential reward outweighs the risk.
Experts predict that many new cryptocurrencies, such as Snook, will become popular this fall. What is more, leading cryptos won’t lag behind. Which digital currencies are going up now? Which coins are worth investing in? We have made up the list of top 8 the most promising cryptos of the season. Continue reading to discover them all.
Note: All prices mentioned below are current as of September 20, 2021, according to the CEX crypto exchange.
Snook (SNK)
This is a multiplayer game similar to Snake. With “Play-to-earn” NFT games, it’s riding the fastest-growing niche in this industry. This game’s snook character is a minted NFT. Crypto technologies enable Snook to record achievements immutably (think of it as a Blockchain/crypto “barrel”). Under certain conditions, the player can access the game character, NFT, and even get a financial incentive when he/she does so.
$SNK is a Snook native crypto token. It functions as a currency and is fungible. The system uses the ERC-20 Ethereum protocol to keep track of coins and to make Snook.
Current Price: $1.64
Ethereum (ETH)
Ethereum is an open-source, decentralized blockchain system that uses its own digital currency, Ether. ETH is used for executing decentralized smart contracts as well as for a host of other cryptocurrencies. In 2018, Ethereum regained its position as the second-largest cryptocurrency by market capitalization and had remained there ever since.
A sharp spike to a new record high price of $4,000 followed steady market gains from December 2020 through the end of August.
Current price: $3,135
Cardano (ADA)
Elon Musk, Tesla’s CEO, was recently quoted as saying Cardano is “green.” As such, the cryptocurrency has weathered the storm brought on by Musk’s concerns. According to its creator Charles Hoskinson, Cardano consumes less than 0.01% of the energy that Bitcoin’s network and controversial mining process does.
Because of this, its value has increased 15.50% over the past month, despite blips related to the overall market experience.
Its current price of $2,12 is the result of massive growth during the year.
Current price: $2,12
XRP
The XRP digital asset is designed for payments. XRP is the native asset on the XRP Ledger—an open-source, permissionless, decentralized blockchain that is able to settle transactions in 3 to 5 seconds. Due to its direct transferability, XRP is a convenient way of linking two currencies rapidly and efficiently, especially when bridging two currencies with different assets.
XRP gained considerable market share above its more moderate competitors in April 2021, exceeding Bitcoin and Ethereum by a wide margin.
Its market cap of $44,48b is the sixth-largest of the current cryptocurrencies listed.
Current price: $0,95
Solana (SOL)
As a decentralized finance platform (DeFi), decentralized apps (DApps), and smart contract platform, Solana uses a unique hybrid proof-of-stake and proof-of-history mechanism to process transactions immediately and securely. A native token, SOL, powers the platform. Despite its decentralization, Solana claims it can support 50,000 transactions a second.
With Solana’s Proof-of-Stake consensus and “proof of history,” Solana can achieve high transaction speeds without all the computers on the network having to agree on timekeeping.
Launched in 2020, SOL’s price started at $0.77. At the beginning of August 2021, its price was $73.19, a rise by 9,405%.
Current price: $137,2
Bitcoin (BTC)
Bitcoin (BTC) is the original cryptocurrency, first created by someone in 2009 using Satoshi Nakamoto’s pseudonym. BTC runs on a blockchain or a distributed ledger, similar to the ones used by most cryptocurrencies. Cryptographic puzzles, that is, proof of work, verify every addition to the distributed ledgers, keeping Bitcoin safe from fraudsters.
Because of its reputation, Bitcoin has skyrocketed in price. Bitcoin used to be about $500 when it was first introduced. At the end of August 2021, Bitcoins were worth over $45,000. That’s an increase of about 8,900%.
Current price: $43,484
Dogecoin (DOGE)
With celebrity and billionaires Elon Musk’s support, Dogecoin has become a hot topic. With a massive community of enthusiasts and creative memes, Dogecoin has become one of the most popular cryptocurrencies since its launch in 2013. Dogecoins, unlike other cryptocurrencies such as Bitcoin, have no limit on how many can be created, so as the supply rises, the currency can devalue.
In 2017, the price of Dogecoin was $0.0002. By August 2021, its price reached $0.31, an increase of 154,900%.
Current price: $0,20
Also Read: 10 Different Ways You Can Become Rich By Earning Bitcoin
