Which Cryptocurrencies Should You Trade in 2021?
Whether you are new to the world of cryptos or you are a self-assured Bitcoin investor, it might be worthwhile to look at all the alternatives that might be the next Bitcoin. If you invested $1000 in Bitcoin in 2010, you now have around $280million. Imagine what you could do if you discover the new Bitcoin in 2021?
*Sage FX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.
- Why should you invest in cryptocurrencies?
- Which are the cryptos making the headlines?
- Sage FX expands its portfolio of cryptocurrencies
Why Should You Invest in Cryptocurrencies?
When the international financial markets were reeling from market crashes and traditional currencies were dropping by the minute during the Covid-19 pandemic earlier this year, Bitcoin was reaching new heights with one Bitcoin being valued at $50,000 or more. JP Morgan, the multibillion-dollar bank that once called Bitcoin a scam is predicting the currency’s value to go up to $146,000. Even the most sceptical investor is bound to be curious about such encouraging news.
As of March 2021, there are now 7000 different altcoins to choose from. Crypto experts are certain that 2021 is the year for cryptos as the market is rife with developments and updates such as the long-awaited update to Ethereum. With so many altcoins on the market, it might be a struggle to find the right cryptocurrency for you. You need a concise breakdown of the cryptos to look out for. The ones that are on the rise, the ones that are most suited to your lifestyle, and the ones that might make all your dreams come true. You need to read on.
Which Are the Cryptos Making the Headlines?
Bitcoin Cash (BCH)
Meet Bitcoin’s lesser-known sister; Bitcoin Cash. BCH was invented by developers and bitcoin miners who were worried that the cryptocurrency industry will fail to scale efficiently. Bitcoin Cash was the perfect solution as it allows the processing of more transactions per block. To put you in the picture, Bitcoin’s average number of transactions is around 1000. BCH can process 25,00 transactions per block. That is quite a leap!
So, why should you trade Bitcoin Cash? Bitcoin cash will process your transactions much faster. This means that you won’t have to wait long for your transactions to be processed and their processing fees are lower. Bitcoin Cash is a fork of the most popular cryptocurrency around (Bitcoin Cash). It was widely popularized and prominent brokers started offering trading in Bitcoin Cash, making it easier for you to trade.
Binance Coin (BNB)
Binance Coin is the brainchild of the popular Binance Exchange. After Bitcoin, Binance is by far the most well-known cryptocurrency exchange, having a daily trading volume of $1.5billion. It is very important to note that Binance Coin will exceed Bitcoin when it comes to volume as it is capped at 200 million. If you want stability and efficiency when trading, then most definitely Binance Coin is for you.
Basic Attention Token (BAT)
This blockchain-based system is a revolutionary new technology that can track media consumers’ time and attention on websites that use the Brave web browser. Its main aim is to pay money between advertisers, publishers, and consumers of online marketing content and advertising. This sounds great however, what about trading BAT?
Before you start trading BAT, it is essential to know that BAT is interchangeably linked with Ethereum, given it was built on this blockchain technology. As the price of Ethereum drops or rises, the price of BAT will be adjusted proportionally. According to Digital Price Coin, this crypto will most definitely rise in 2021 and they predict that it will rise up to twice the price, estimating it at roughly up to $1.38 in 1 years’ time.
Stellar Lumens (XLM)
This currency shares the same founding father as crypto giant Ripple. However, in contrast to Ripple, Lumens is more targeted towards individuals rather than institutions. Jed Mc Caleb, the founder of both cryptos, decided to go for the distinctive and innovative bottom-up approach rather than the more conservative top-down approach he implemented in Ripple. As of March 2021, this altcoin seems to be on the rise, having gained popularity with investors seeking to remit funds overseas and across borders. It also seems to be quite a popular crypto among institutional investors, solidifying its position as one of the stronger altcoins out there.
Sage FX Adds New Altcoins to Its Portfolio
Did you know that you can now trade all of these cryptocurrencies and more on your favourite online broker? Sage FX has now added the below crypto pairs to its already vast range of cryptocurrency pairs that you can trade live on the market:
BCHUSD BitCoin Cash vs US Dollar
BNBUSD Binance Coin vs US Dollar
BATUSD Basic Attention Token vs US Dollar
ETCUSD Ethereum Classic vs US Dollar
TRXUSD TRON vs US Dollar
XLMUSD Stellar Lumens vs US Dollar