From big cryptocurrencies to affordable ones, here’s a guide to finding the right investment.
Cryptocurrencies have seen their biggest boom since late 2017 that has attracted a lot of eyeballs. Investors are eyeing the top cryptocurrencies to add a mix to their portfolios. Bitcoin, the most popular cryptocurrency, recently hit a record high of $63,000 before seeing high sales, giving investors a window to buy bitcoins before the price spikes again. Today, one bitcoin is valued at $56,000.
In the past few months, cryptocurrency prices came down from their highs after US President Joe Biden signaled plans to increase capital gains taxes which lead to some investors selling off their holdings. However, this did not stop financial services from having a positive outlook towards digital currency.
Visa said in a statement at the end of March that it will allow the usage of USDC Stablecoin to make transactions. The Gemini cryptocurrency exchange announced this week that it will launch a rewards-based credit card with Mastercard. The idea is to allow users to earn cash back in the form of cryptocurrencies. The investment banking giant JP Morgan is also preparing to launch a managed bitcoin fund for its clients. Not just bitcoins, the meme crypto that was doing the rounds on social media, dogecoin, is also being accepted by merchants like the online tech retailer NewEgg, The Kessler Collection luxury hotel chain, and the Dallas Mavericks NBA team. Not to forget, Elon Musk’s Tesla Inc. will start accepting bitcoin as payment for electronic cars.
With several businesses accepting cryptocurrency as an authentic form of payment, this is the time to invest in some cryptocurrencies according to your budget. If you are wondering what are the best coins to invest in May, here’s a guide that can help you.
Top Cryptocurrencies In May 2021
With a market capitalization of $316 billion, Ether is the second-largest cryptocurrency created in 2015. The Ethereum blockchain works on smart contracts that enable decentralized applications like the popular decentralized finance services (DeFi). While investors look at bitcoins like gold, this one feature of Ether allows a higher number of public blockchain transactions.
Ether’s current value in USD – $3,376.34
With a market capitalization of $90.9 billion, this is the third-largest cryptocurrency launched in 2017. The coin is native to the Binance exchange and the new ecosystem the company is developing – Binance Smart Chain. Being one of the largest in the world, the company aims to become the primary infrastructure service provider for the entire blockchain ecosystem.
Binance coin’s current value in USD – $663.43
Solana is one of the fastest-growing DeFi ecosystems and now has a native cryptocurrency coin that saw its value peak last month. Launched in March 2020, within a short span it has managed to become the 14th largest cryptocurrency with a market capitalization of $11.19 billion. The Proof-of-History algorithm that it uses has the highest speeds of transaction. As compared to Ether, Solana offers low transaction fees.
Solana’s coin current value in USD – $47.07
This is the cheapest cryptocurrency to buy in 2021. Thanks to Elon Musk calling himself the ‘Dodgemaster’, this coin has seen the spotlight after a dodgy history. Created in 2013 as a meme coin, nobody expected this coin to become legit, let alone be included in the top list of cryptocurrencies. The price spiked from $0.007635 to an all-time high of $0.074398 in less than two weeks. All this came after the GameStop incident and Elon Musk’s tweets.
Dogecoin’s current value in USD – $0.4392
Cardano is projecting a promising growth potential. The coin has surpassed its value of $0.182 in January to $1.45 in February, making it the best affordable cryptocurrency to invest in. The reason behind this price hike is the recent update that brought the ability to create smart contracts that will allow developers to start working on dApps, many new cryptocurrencies, and the DeFi sector. This coin also boasts cheap transactions and a good development team that is taking this project towards full decentralization.
Cardano’s current value in USD – $1.32