What Cryptocurrency Should We Invest in Right Now?
The financial world has changed significantly in the past few years. But the pandemic has shown us that the old system is cracking down beyond repairs.
FIAT currencies are just being printed and printed, without control. In the past year, also it proved dangerous to our health to be handling regular cash. Money is dirty. Let’s say it the way it is. It’s one of the dirtiest things one can touch. Many governments are trying to go cashless and this is one of the reasons.
I honestly do not see my grandchildren be using FIAT currency. It’s outdated and with many flaws. What do I think my children and grandchildren will use? Digital and CryptoCurrency.
That is one of the reasons, why cryptocurrency is on the rise. We already know that 2021 is the Year of Bitcoin. But not only Bitcoin. People and many large companies are investing in Crypto and so should you. Apple, Google, Tesla, Samsung, Facebook, Paypal, and even Deutsche Bank made cryptocurrencies part of their investment plans. Cryptocurrency is experiencing widespread adoption and is no longer the exclusive domain of Fintech disruptors and day traders.
What are some of the benefits of crypto trading? Well, if you invested 1.000 dollars in Bitcoin in 2010, when many were still laughing at the subject, you would have we worth approx. 300 million today. If that doesn’t portray the extraordinary opportunities, that crypto presents, I don’t know what does.
Crypto can also function as a store of value, they are a very good portfolio asset and can also be used as a payment method. It is easier to store than gold, which has similar benefits. It is also easier to transfer and trade. You can also buy just a fraction of any crypto coin, which allows for a low investment threshold and is available basically to anyone. Cryptocurrency exchanges operate 24/7 so you can buy or sell anytime. As the majority of crypto transactions are recorded using blockchain, they are reliable, transparent and the information cannot be altered. The fees are also lower, compared to stock trading. As there is a vast selection of cryptocurrencies, it allows for a diversified portfolio.
So which Altcoins are great in my opinion?
Let’s start with Ethereum (ETH). By January, when we discussed it with my followers, ETH was on 660 USD and as of now, at the end of August, is over 3000 USD. That is more than 2300 dollars gain per coin. Together with Dodge coin, Ethereum is leading when it comes to Altcoins and if Bitcoin is the king of crypto, Ethereum is the new prince.
Ethereum also has a very strong market cap. As of February 2021, the Ethereum market cap reached new heights and grew to over 100 million dollars. (for comparison, the market capitalization in August 2020 was half of this amount).
Ethereum’s advantages are that it is the second most liquid cryptocurrency in the world, supports smart contracts, and allows for decentralized mobile applications, dApps.
Ripple ($XRP) — Ripple is both a cryptocurrency and a digital payment network for financial transactions. They remain one of the most undervalued crypto assets in the world. XRP is a token that was created by Ripple Labs in 2012, to be used on their decentralized payment system. While it started with a blockchain-based system, it is used with a network of validation nodes rather than a blockchain. It isn’t mined in the same way as BTC or ETH, which is seen as one of its advantages. It is widely popular in Japan. SBI Holdings was one of the original investors in Ripple, so many Japanese investors added XRP to their investment portfolio. Japanese regulators even said that XRP is not a security, but an asset and with that, created a better environment for Ripple and they are including it in its digital currency lending service ad helping put XRP back in the game. So if you are in Japan, XRP is a good coin to look into.
Litecoin (LTC) Litecoin was created to play the role of “silver” to Bitcoin “gold”. It adopted many of Bitcoin’s best features, but with its own twist. Litecoin transactions are faster, taking less than 3 minutes, and have much lower system requirements, so even an ordinary PC is capable of mining for it. And we know that faster and easier is a very powerful combination for both users and investors.
Uniswap ($UNI) Uniswap is one of those to watch in 2021. It was only introduced in September 2020, to users, who previously used Uniswap’s services. They only distributed 4000 free tokens, but they are now valued at 12.000 $.
Bitcoin Cash ($BCH) Bitcoin Cash is described as a “software upgrade” and was created in 2017. The intention was to accommodate a larger block see when compared to Bitcoin and allow for more transactions into a single block. So comparing to Bitcoin, it allows for faster and more frequent transactions with lower fees. Bitcoin Cash and Bitcoin have many technical similarities and have their supply capped at 21 million. Many say that Bitcoin cash is the Blockchain world’s answer to the most significant challenges facing the global financial system. Japanese e-commerce company Rakuten now accepts payments in cryptocurrency, including Bitcoin Cash, which will help BCH greatly. Its scalability also means it has great growth potential and might be in the running for the best cryptocurrency.
Of course, there are more than these five altcoins, but I wanted to introduce the ones that in my opinion will prove a valuable asset. But remember, the best cryptocurrency for you to buy really depends on your familiarity with the subject and your risk tolerance. Do not borrow money to invest and only invest the money that you won’t be needed in near future and can potentially afford to lose.
Kingsley Kobayashi is a serial entrepreneur, CEO of Kobayashi Group Japan, and many more companies. He is also Bitcoin-Fintech Expert and advisor. To learn more about Kingsley and investments, follow him on Instagram, Facebook, and Twitter
