These coins could blow up big time!
Bitcoin has been the talk of the town for a long time now.
Think of it as the Sidney Crosby of the Pittsburgh Penguins. Sure, it's the breakout star that gets all the attention, but there are other members in the group with unique talents that shouldn't go unnoticed.
For those looking to make their first purchase, the Canadian trading company Coinsmart makes it super easy to buy and sell crypto—and they've added a lot of digital currencies to their exchange.
Did you know there are over 4,000 types of crypto to choose from?
While Bitcoin is an obvious choice for both beginners and experienced investors, there are other cryptocurrencies with massive growth potential.
XRPSam74100 | Dreamstime
What It Is : Also known as Ripple, XRP came into the spotlight in late 2017. It's the favourite currency among global banks because it's changing the way we transfer money and receive payments.
Why You Should Invest In It: It's the first digital currency to be used by mainstream financial institutions so it's picking up more and more steam every day. Many crypto specialists believe 2021 is the perfect time to start investing in XRP because the rates are so low compared to other currencies.
What Is it: Commonly referred to as Cardano, ADA is a public, open-sourced blockchain platform and it's now the third most popular cryptocurrency in the world next to Bitcoin and Ethereum. It was actually built by the co-founder of Ethereum, Charles Hoskinson.
Why You Should Invest In It: Simply put, Cardano aims to compete against Ethereum to offer better long term solutions in decentralized finance. With a current market cap about 1/6th of Ethereum's, it could offer high returns. It's had its shares of ups and downs on the market since its debut in 2017, but it hit an all-time high last month and is up an astounding 1750% over the past year. So, you really want to strike while the iron is still hot!
What It Is: It's one of the most practical platform blockchains for Dapps development. The coolest thing about it is that it aims to virtually eliminate transaction fees through its structuring. It's also highly scalable and can outperform major credit cards like Visa in terms of transactions per second.
Why You Should Invest In It: The Dapp market is getting bigger, the value of EOS is only going to increase. It's been lagging behind this year compared to other altcoins but many believe it's due for a rebound. Some analysts see the coin sitting at around $80 by 2023.
What It Is: Stellar Lumen, a.k.a. XLM, is the native cryptocurrency for an open source blockchain payment system called Stellar. It's purpose is to provide cheap transactions in developing markets.
Why You Should Invest In It: Many say XLM has long-term value. Its blockchain allows for the building of assets, meaning investors can launch tokens and build exchanges on it, which is a huge get! And because it's one of the few user-friendly cryptocurrencies in the market only adds to its appeal right now.
*Prices are subject to change