Top 7 best cryptocurrencies to trade in March 2021
There are over 5000 cryptos available online right now, and each has features that make them unique
As market trends show, many people are interested in the cryptocurrency market. When Bitcoin first hit the market back in 2009, it captured the attention of the financial and tech industries. For quite some time, nobody seemed to care until the price of each Bitcoin reached $20,000 in 2017. All of a sudden everyone wanted to join the revolution and own a portion of the digital gem.
Three advantages of using cryptocurrencies
Cryptocurrencies offer a platform where you can make secure transactions without delays and intermediaries. The crypto wallet can never be hacked, and the address on some market platforms is constantly changing. It is easy to track any transactions on some media since they record and store every data involved.
You can trade using safe and secure platforms like Bitcoin Evolution. The app uses advanced software that enables you to buy crypto below market value, thus increasing your chances of making a profit when you finally sell. You only need a minimum deposit of $250 and a transaction fee of $25 on each transaction you complete.
When trading with crypto, the transactions take a shorter period and few individuals. Compared to the fiat system, where a transaction can take over five working days to be complete, the transactions done with crypto are fast.
The fact that it also cuts off the need for go-betweens makes it quicker and cheaper. For a mediator to earn, he or she charges a fee on every transaction. You are charged lesser transaction fees when you use crypto. For a transaction to be complete, it does not involve going through many different channels. It involves you transferring or receiving crypto to another wallet.
A cryptocurrency is a decentralized form of currency. Decentralized means that no government can claim ownership. The people own it. The government cannot impose any rules like how much crypto you can trade within a day or documents you need to present for a transaction over a certain amount of crypto to be completed. Traders determine the market price; high demand with less supply leads to a high market price, while high supply with low demand leads to a decrease in price.
7 Best cryptos to trade in March 2021
There are over 5000 cryptos available online right now, and each has features that make them unique. The prices indicated below are as of 18th March 2021.
Bitcoin has been referred to by many traders as the gold of cryptocurrency. It is the first-ever cryptocurrency to be created and the most famous. It is currently trading at $58,969.63, and experts predict that by the end of 2021, it might have reached a high of $100,000.
Bitcoin can be used like any other fiat currency, for transactions, as a mode of payment. If you are selling a product or service and the payment method is Bitcoin, you only need to have a digital wallet from a reputable and safe app like Bitcoin Evolution. After you have received your crypto and the buyer receives their product or service, the transaction is complete. Bitcoin makes it easy to make fast transactions with fewer transaction fees.
Ethereum uses Ether (ETH) as gas to pay for fees incurred when making a transaction. Developers use ETH to issue new crypto and run decentralized apps(dApps). These new crypto are referred to as Ethereum tokens. It is typically referred to as the oil of the crypto world. Some altcoins(dApps) like Uniswap and Chainlink run on Ethereum. ETH is currently trading at $1,821.86, and it is expected to rise to $3968 by the end of 2021.
TRON uses smart contracts to enable the development of decentralized apps(dApps). It has a high transaction speed and no transaction fees. If you compare its performance, it resembles Paypal. With TRON(TRX), you do not need to use any web hosting service to run a website. You can just run it personally.TRX is currently trading at $0.0543, and it is expected to rise to $0.12 by the end of 2021.
ChainLink acts as a link to offline sources and online blockchain intelligent contracts using oracles to pass information. It aims to solve connectivity from inside to outside the node network when implementing smart contracts. Chainlink currently has partnerships with major companies like Oracle, Google cloud, Matic Network, and Hedera Hashgraph. It is currently trading at $29.98, and it is expected to rise to $ 50 by the end of 2021.
5. Bitcoin Cash
A hard fork, in layman’s language, means branching off. Bitcoin Cash is a hard fork of Bitcoin. It is currently trading at $538.71 and is expected to rise to $6700 by the end of 2021. BCH can handle more transactions than Bitcoin and does not take a lot of waiting time.
Litecoin is almost the same as Bitcoin. If Bitcoin is the gold of cryptocurrency, then Litecoin is the silver. Litecoin can accommodate more coins in circulation, up to 84 Million. Litecoin is used to purchase products or services or transfer funds. It is currently trading at $206.19, and it is expected to rise to $600 by the end of 2021.
7. Binance Coin
Binance coin is based on the Binance network. As Binance gains popularity, so does the Binance coin. After most people shifted to digital trading in 2020, Binance has seen a rise in the number of traders has led to the price rising to $275.51.It is expected to reach a high of $804 by the end of 2021.
Having all this information about how crypto is used, a secure marketplace that you can trade at, and the best cryptos to invest in is crucial. Another essential bit of information that acts as a disclaimer in the crypto world is that cryptocurrencies are extremely volatile. To understand more about this, google the price of Bitcoin and watch it for 5 seconds; you can see the price fall and rise.
The return rate on crypto is high compared to the traditional financial instruments such as stocks and currencies; however, one similarity they share is that there is a probability of incurring losses.
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