Well, many different cryptocurrencies are trending upward all the time. Don’t you wish you bought some Bitcoin 10 years ago when you could’ve had an entire coin for just a dollar? Today that same Bitcoin is worth tens of thousands of dollars. So what’s the best crypto to buy this year? More and more options are popping up all the time. It can be daunting for beginners to choose a strategy for getting started. Below we cover the best crypto to buy in 2021, as well as what you need in order to get started.
What Do You Need In Order to Buy Crypto?
Before diving into the specifics of the top cryptocurrencies to invest in, let’s talk about the basics. This is what you’ll need before you can buy your first coin.
Crypto Wallet
If you’re going to start buying crypto, you’re going to need a wallet to store them on. No, not a physical wallet. Cryptocurrencies are completely virtual. They are represented as coins or virtual tokens. So you’ll need a virtual storage device to keep them secure. For those just getting started, you can use any number of crypto wallets available on the iOS or Android app store. When you purchase cryptocurrencies in various places, they’ll get sent to your wallet. Once you have a large number of cryptocurrencies and a lot of money invested in them, you’ll want an external storage device. These function similar to an external hard drive, that stores files off your computer, but is easy enough to access the necessary. These cost money and are generally only needed by serious crypto investors.
How to Buy Crypto: Choosing a Crypto Exchange
Once you’ve got your wallet ready to fill, it’s time to choose a crypto exchange. There are many to choose from and all are different. They function as the platform to help you buy and eventually sell your cryptocurrencies. Some act as brokers, facilitating the entire transaction for a fee. These are the easiest and fastest, but the most expensive as well. Other platforms pair together individual buyers and sellers virtually. And still, others connect individual buyers and sellers to meet and handle their transactions in person. This is the only “free” way to complete a crypto transaction. Looking to convert money into different currencies? This can be helpful to do before or after a large crypto transaction. It’s also helpful when traveling. Look at this currency exchange for an affordable place to convert money.
What’s the Best Crypto to Buy?
Wondering what crypto to buy now that you know how to get started? Here are seven options as the best crypto to buy right now.
1. Bitcoin (BTC)
The original cryptocurrency was released in 2009 by an unknown individual or group using the alias Satoshi Nakamoto. There were 50 bitcoins released with the first block of Bitcoin. Over the last few years since its inception, the value of Bitcoin has fluctuated dramatically as people around the world have grappled with the idea of decentralized currency. Today, Bitcoin is responsible for the majority of value represented by all cryptocurrencies. While the value of the coin fluctuates daily, it was worth around $40,000 per coin during the first week of 2021.
2. Ethereum (ETH)
The first alternative cryptocurrency to Bitcoin was Ethereum. While the coin is very popular, and the value of the coin is very high, it has a larger mission. Ethereum exists as a platform that offers decentralized financial products available to those across borders and ethnic lines. This makes Ethereum popular in many nations around the world, as it allows those in unstable countries access to basic amenities such as bank accounts. Today, the value of Ethereum remains second under Bitcoin.
3. Litecoin (LTC)
Litecoin launched shortly after the release of Bitcoin. It was often considered to be silver in the light of Bitcoin, which was referred to as crypto gold. It was created by an MIT graduate and former Google employee. Litecoin offers a faster transaction than other coins such as Bitcoin, due to faster blocks. Today, it remains one of the largest and most valuable cryptocurrencies in the world. Even many merchants accept Litecoin as a method of purchase.
4. Bitcoin Cash (BCH)
Bitcoin Cash began as a split from the original Bitcoin. Since no one controls Bitcoin, changes cannot be easily made to the code underwriting the cryptocurrency. So in order to make changes, it’s up to the entire community of miners and software developers to come to an agreement before altering the code of Bitcoin. But that agreement just couldn’t happen. In this case, Bitcoin remained as it was, and a new currency was formed based on the original code of Bitcoin, with some changes. One of the biggest changes made with Bitcoin Cash has to do with the size of the blocks it uses in the blockchain. For normal Bitcoin, each block can only hold one MB of information. With the new Bitcoin Cash, each block can store eight MB of information. This means more transactions can be stored in each block, allowing for faster transactions to take place.
5. Cardano (ADA)
Cardano was found in part by one of the founders of Ethereum. When a disagreement about the future of Ethereum took place, he left to begin this new currency. Cardano was born out of extensive research on blockchain. While still a new coin, it currently has the goal of releasing extensive, decentralized financial products to be used across the globe.
6. Polkadot (DOT)
Polkadot was also founded by one of the original founders of Ethereum. Another disagreement led him to create a new currency; Polkadot. It exists to change the way blockchains operate. It allows for the use of para-chains, which are blockchains that can parallel its own chain.
7. Dogecoin
Dogecoin began as a joke, as its name is based on an ever-popular meme. Now, eight years after launching for laughs, it is one of the top five most valuable cryptocurrencies available. Today it sports one of the most passionate followings online and continues to experience regular growth.
Which Crypto to Choose
So what’s the best crypto to buy? It really depends on your goals. Any on this list are expected to increase in value and demand across the planet. Some are part of an effort to better serve people across the planet financially. And some offer more passionate communities that you can participate in. There’s no bad coin on this list. But you also don’t need to pick just one. No one’s going to stop you from stocking up on each one. Looking for more information like this? Be sure to check out our blog for more articles today.
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