Cryptocurrencies are quickly emerging as the world’s next investment avenue. As the technology breaks into the mainstream, many wonder the best perspective assets to put money into. This post will go over just those.
Bitcoin is already experiencing a renaissance in 2020. It’s the world’s first and most popular cryptocurrency and one that’s finally breaking into the mainstream.
The asset is now seeing support from PayPal. It has been endorsed by experienced financial groups like BlackRock. Bitcoin currently has thousands of dollars going into it every day, and experts predict its value will continue to rise.
Why is this happening? People are finally beginning to recognize its value. While some might see Bitcoin as a store of value, like gold, others believe it to be a replacement for traditional currency. Either use case is valid, and both sides contribute to the asset’s overall prospect.
While Bitcoin is certainly still a volatile asset, users being aware of this uncertainty as they invest will normalize the risk. Much like the stock market and gold before it, Bitcoin is more likely to become mainstream now than ever before.
Second only to Bitcoin, Ethereum is prepping to have its own explosion over the next few years. The asset has recently upgraded to its 2.0 state, which will introduce a proof-of-stake consensus algorithm. This will ensure Ethereum is more accessible and scalable, opening it up to more users in the long run.
This is huge for the future of decentralized finance – blockchain-based versions of traditional finance applications. Ethereum is the biggest platform that supports such apps, meaning that if they’re meant to be, this is the space they’ll grow.
While its value will likely not reach the heights of Bitcoin, Ethereum is bound to grow over the next few years as the mainstream realizes its use case. That, and it brings with the idea of earning interest on your cryptocurrency.
With the move to proof-of-stake, users can stake, or lock-in, their Ethereum into the network. As a result, they’ll earn interest on what they’ve locked in, simply profiting off of holding their assets steady. It’s similar to holding funds in a savings account and earning interest on it.
If staking doesn’t bring users to Ethereum, nothing else will.
Interestingly, Litecoin might not be many investor’s first choice, due to its lack of a use case compared to Bitcoin. At least, that’s how the project used to be.
As you may know, Litecoin is a fork of Bitcoin that serves to be a little faster and more scalable than its predecessor. However, the platform recently got a new game that could increase users on the platform. That game is called LiteBringer.
LiteBringer is an RPG that appeals to hardcore gamers. Of course, it utilizes the Litecoin cryptocurrency to work, which will increase the asset’s value and transaction volume. However, this blockchain-based game also provides users with a way to earn based on their performance. Getting paid while playing a game? That’s the dream of many players.
Of course, Litecoin is also supported on the PayPal platform, which should help its discoverability as well.
A utility token, Ripple is a cryptocurrency that allows for fast, cheap international transfers. This technology is meant to improve upon the current, fiat, international system – SWIFT – utilized by banks.
As that use case makes its way to the mainstream, and as companies realize how useful it can be, we’re bound to see an increase in Ripple’s price. Many banks are already taking advantage of Ripple’s tech to push their transfers forward. More industries are bound to partner with Ripple over time, making it a project to invest in come future times.
How to Acquire These Cryptocurrencies?
Now that you’re aware of what cryptocurrencies are bound to explode come 2021, you might wonder how to acquire them.
The best way to do so is via a cryptocurrency exchange. Platforms like Crypto Exchange are a great place to start. All you need to do is set up an account, link a payment method, and purchase the assets.
Most of the time, you can hold your bought assets on the platform’s wallet. You can then trade them in the future, buy more to hold, or even sell them for profit. It’s all up to you.