With the prices of some cryptocurrencies rising, this is a great opportunity to buy at attractive starting prices. Note, however, that you need to consider your risk tolerance for digital asset investments before investing. In addition, the cryptocurrency you know can help you choose a coin wisely for investment.
You can buy cryptocurrencies for either investment or trading purposes, or both. With either option, it is never wrong to include digital assets in your portfolio.
Five encryption currencies to be purchased as encryption prices recover
1. Why buy Bitcoin
By USNews, Bitcoin will have a more dominant position in the smuggling market after the first coin mining in January 2009.
Although the price of BTC cannot be accurately predicted, it has always been dynamic. When you think of the world of cryptocurrencies, Bitcoin comes to mind first. BTC is called such in the cryptocurrency ecosystem.
In April 2021, Bitcoin spent an all-time high of $ 65,000. This upward rise represents a doubling of its price from $ 30,000 in January 2021. The new price represents more than 45% of the market value of more than $ 1 trillion.
A closer look at the encryption market shows that Bitcoin will have more than 70% of the market earlier this year. This further means that other cryptocurrencies are also on the rise. Bitcoin’s dominant position in the cryptographic market can never be overemphasized. In May, Market value of Bitcoin was over $ 1,000 billion.
Increase in value Bitcoin also relates to its use as collateral for loans in the DeFi sector. Bitcoin is also seen as Aitana against macroeconomic and inflation instability.
Although the market value in the press is $ 721,243,653,029, and the price is $ 38,559.92, there is hope that it will rise again. Of the latest Bitcoin price forecasts, some cryptocurrency forecasts predict a rise To $ 70,000 before the end of 2021. Investing in Bitcoin may later prove to be a wise investment.
2. Ethereum buys $ 2,791
Ethereum is classified as the second largest encryption after Bitcoin at market value. Ether was founded in 2015 and had a market value of more than $ 323 billion. The recent rise in prices suggests that ETH is preparing for the rise.
In addition, with the upgrade of the Ethereum block chain, it increases the value of Ethereum-based logos. With the launch of the Berlin Hard Fork in April 2021, the platform has some excellent functional features.
It now improves network security, optimizes the use of transaction fees, and allows a few types of new transactions. Looking forward to a new update in the summer of 2021, London Hard Fork, you can anticipate the bright future of ETH.
ETH also lowered its 20-day EMA from $ 2,762 to 1st in June. This shows that buyers were in no hurry to close their positions. Also, the leveling 20-day EMA and rising RSA near the midpoint show that the sales momentum surrounding encryption has recently ceased.
So if ETH buyers keep the price above the resistance line, the ETH / USDT pair can record a 61.8% Fibonacci retracement level at $ 3,362.72 and a 78% back level at $ 3,806.
If the ETH bulls do not keep the price above the triangle, the triangles in the ETH / USDT pair will merge for a few days. Every fall below the triangle gives the bears priority.
3. Buy Uniswap for $ 28.4
Uniswap acts as the leader in the Ethereum block chain in distributed encryption switching. It was created in 2018 as open source and is compatible with ERC-20 logos.
Distributed Exchange (DEX) Uniswap allows users to manage their funds at all times. Thus, it eliminates the risk of losing assets in cases where the stock exchange has been hacked.
Another distinguishing feature of Uniswap is its operation. No unit controls it. Uniswap users also have the privilege of a free token list on the stock exchange.
Uniswap’s protocol has more than $ 3 billion in digital assets, making it the world’s fourth-largest DEX platform. Its UNI code is an administrative code.
As a management token, UNI holders can decide on updates and developments on the Uniswap platform. The owners participate in a coin-operated distribution model for developers and the Uniswap community. They also affect changes in the payment structures of the Uniswap platform. This increases the value of UNI and makes it very competitive in the encryption market.
4. Buy Chainlink for $ 32
Chainlink is a distributed network that works with oracles to transfer data from the real world to the block chain. Data transfer is done through smart contracts. Chainlink was created in 2017.
It is intended to remove a block in the chain industry by allowing interoperability. Ethereum, Bitcoin and others are therefore compatible. Chainlink provides a platform for banks and other payment services in an encryption system.
Chainlink is unique in that it increases the accuracy and security of your data. Its ability to bring this stems from the decentralization of smart contracts in DEX.
A close study of the Chainlink logo, LINK, shows that it is a profitable investment for all investors. The price of LINK was $ 11.45 in January 2021. By May 2021, the price had risen to $ 51.17. Currently, the price is $ 31.95, and the market capitalization is over $ 13 million. However, most cryptography experts predict a possible price increase to $ 100.
5. Litecoin buy for $ 190
Litecoin’s cryptocurrency works with peer-to-peer technology. It was created in 2011. The nature of Litecoin complements Bitcoin. Just like Bitcoin, Litecoin makes its payments in an open source system. This removes control from all individuals or authorities.
Litecoin has more than 84 million LTCs as a delivery limit, while Bitcoin has only 21 million. Litecoin’s higher delivery limit makes it silver-Bitcoin gold.
Litecoin allows cheap and fast unlimited transactions. It is called the first successful altcoin (an alternative cryptocurrency to Bitcoin). It is quite stable and affordable for investors looking for altcoins.
The Litecoin logo, LTC, has risen a huge price increase from January 2021 to May 2021. The price rose from $ 126.23 to $ 477. This describes a resource that is very profitable for investment.
Currently, Litecoin is trading $ 189.95 and a market capitalization of over $ 12 million. According to cryptography experts, the price of LTC is projected to be $ 1,200 by the end of 2021.
Time to buy encryption – use the average dollar cost
It is never too late to buy cryptocurrencies. But if you can’t decide when to dive, then why not average the cost of the dollar by investing a manageable amount on a regular basis. Understanding the potential of each digital asset expands your vision as you choose what to buy. Bitcoin is king among digital assets. Its constant rise in prices makes it a very profitable cryptographic purchase.
However, it is the most expensive of all other smuggled coins. So, if you’re not ready for Bitcoin, you can switch to other altcoins that can accommodate your risk tolerance. This summary of the top 5 cryptocurrencies to buy will help you choose cryptographic coins that are more likely to rise in the future.