As the pandemic brought economies to a halt and people found their assets performing deplorably, crypto enthusiasts had plenty to rejoice about. Interestingly, the Bitcoin kept climbing, reaching unprecedented heights, even when the so-called safe assets like gold, crumbled. So, it is only natural that this development will pique the interest of investors who had so far not considered dabbling in crypto coins. What is then the next big thing in the crypto world after the Bitcoin?
The year 2020 witnessed an explosion of sorts in the crypto world. More and more businesses started accepting crypto payments and embracing the blockchain to streamline their operations. Today, peer-to-peer payment networks have become the order of the day. There is no one authority such as a central bank to issue or regulate cryptos. In the last decade and more after the Bitcoin made its appearance, the crypto space has expanded exponentially. Several crypto projects have come about, some centralized and some decentralized. Today, you have as many as 4000 cryptocurrencies to choose from; many of these appear reasonable and potentially lucrative. Especially, cryptocurrency and its trading have become widespread among investors. In particular, bots like Bitcoin Profit made it possible for anyone to take advantage of cryptocurrency trading. To learn more, check out the Bitcoin Profit bewertung blog and make more profit with less risk.
- Dogecoin: The Dogecoin, for instance, is the new kid on the crypto block; one that has taken the crypto world by storm. It was launched in 2013 founded on a meme with a Shiba Inu dog as a logo. This coin has a market cap of $92 billion at its peak. Elon Mask, Tesla, CEO, has proclaimed to be “Dogefather” and claims that Dogecoin will soon become the currency of the future. Dogecoin is a P2P, open-source digital asset which came for a low price that made it ideal as rewards for filling out surveys and for tipping purposes. Dogecoin does not have a cap on its supply; this means it is prone to inflation like any fiat currency.
- Enjin (ENJ): This Ethereum-based crypto was meant to give support to non-fungible tokens. Developers used this for managing in-game buys. Enjin has a total market cap of about $1 billion and can be bought from different markets like Crypto.com and Binance.
- SafeMoon: This altcoin made its debut in March, 2021 and is a fair-launched community-driven DeFi token. Within a very short time, it has managed to secure 2million plus holders. SafeMoon has a total market cap of about $2.2 billion. It penalizes those who sell the tokens; a 10% fee will charged to the seller and of this, half will be redistributed to holders.
- Diem: This crypto is a Facebook offering and one of the most-anticipated cryptos to make its debut in 2021. It was originally coined Libra and is a stable, centralized crypto project for investors looking for stability. Diem is also believed to have low volatility as it has reserves of other assets and currencies.
- Cardano: Like the Ethereum, Cardano is a decentralized crypto platform using a native cryptocurrency called ADA for facilitating peer-to-peer transactions. This was started in 2015 by Charles Hoskinson, co-founder of the Ethereum platform. This is designed to take up only about 1/3 rd of the energy that Bitcoin or Ethereum required. This has been possible through a Proof-of-Sake algorithm that refrains from incentivizing high-energy consumption. Rather, this is being used by blockchains for validating transactions in a safer manner. Today, Cardano is the 5th ranking crypto in a list of the most valuable cryptos and is slowly moving towards enabling smart contract. This is likely to become completely functional in 2021. So, Cardano may be the new platform to watch out for!