Written by Robert Thompson Jr. | 1/14/21

This article provides information and education for investors only. FeedYourEmpire does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.

Is Cryptocurrency the future? Firstly, Cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority.

Most importantly, Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. In fact, when a cryptocurrency is mined it is generally considered centralized. Besides when implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

The Start of Bitcoin

In fact, it’s been 12 years since Satoshi Nakamoto created bitcoin. Meanwhile, Bitcoin is the most popular cryptocurrency in the world right now. Still, the market has more than 7,000 coins therefore, there is a lot of cryptocurrencies that can explode just like Bitcoin. For example, bitcoin first started with as little as $00.8 per bitcoin, now it is at $39,547.08. Here’s the 4-year cycle chart of Bitcoin

2010 9,900%

2011 1,473%

2012 186%

2013 5,481% (Bull)

2014 -57%

2015 34%

2016 123%

2017 1,368% (Bull)

2018 -73%

2019 92%

2020 121%

2021 91.06%+…. (Bull)

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Investors Thoughts on Cryptocurrencies

Firstly Mark Cuban believes that Bitcoin and Ethereum and a few other household names will survive. Next, there is JPMorgan who stated that bitcoin could rally as high as $146,000 in the long term as it competes with gold as an “alternative” currency. Warren Buffett dismissed bitcoin and other cryptocurrencies as “worthless” in a CNBC interview on Monday. However, his reason for saying that you could not do anything with crypto could not be further from the truth. Furthermore, Bitcoin could eventually gain widescale use as a digital form of cash. In fact, with some going so far as to say it has the potential to become the first truly global currency.

Lastly, watch out for many cryptocurrency news as there are rumors that investors want your bitcoin, and don’t want you to believe in cryptocurrency at all. Here’s what we think are the 7 best cryptocurrencies to invest in.

7. Ethereum (ETH)

Since Ethereum first launched in 2015 and is an open-source platform that uses blockchain technology to create and run decentralized digital applications or “dapps”. As a result, that enables users to make agreements and conduct transactions directly with each other to buy, sell, and trade goods and services without a middle man.

6. Tron (TRX)

On the other hand, Tron is a cryptocurrency that powers the Tron protocol. That aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology.

5. Binance coin (BNB)

Since Binance Coin is a cryptocurrency used to pay fees on the Binance cryptocurrency exchange. Fees paid in Binance Coin on the exchange receive a discount.

4. Steller (XLM)

For instance, Stellar is an open-source, decentralized protocol for digital currency to fiat money transfers which allows cross-border transactions between any pair of currencies. Steller price is $00.30 per coin.

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3. Litecoin (LTC)

Meanwhile, Litecoin is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. A crypto forecast website called trading beasts predicted in their Litecoin forecast that by the end of 2021, LTC expected price will be around $47.

2. Chainlink (LINK)

For example, Chainlink is an Ethereum token that powers the Chainlink decentralized oracle network. This network allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.

1. Bitcoin (BTC)

Firstly, Bitcoin the most popular cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009. It’s the Fastest growing cryptocurrency with an average growth rate of 91.06% and a price of 39,382.40.

Conclusion

Finally, Cryptocurrency has been the best performing asset in the last decade. Bitcoin has been the best performing coin but there are over 7k coins.

7 Best Cryptocurrencies You need to invest in 2021