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Many investors prefer to put their money exclusively into cryptocurrencies that are at the top of the capitalization ratings. However, when focusing on the leaders, market participants sometimes fail to appreciate the prospects for profit presented by other coins.
Here, we present 5 non-obvious cryptocurrencies for your consideration that could be great investments in 2021.
XRP is a token issued by the California startup Ripple. As of June 16, 2021, the cryptocurrency is 7th in terms of the capitalization according to CoinMarketCap.
In late 2020, the US Securities and Exchange Commission (SEC) accused Ripple of illegally selling securities in the form of XRP tokens, but the project’s representatives are certain they haven’t broken the law.
Many investors chose to abandon XRP amid the pressure put on Ripple by the SEC, and the price of the cryptocurrency fell as a result.
As of the time of writing, the conflict between the parties is still unresolved, but it is important to note that, at the end of May 2021, the Ripple team managed to block the SEC from accessing documents that could have helped the regulator back its position in court.
In addition, many large financial organizations around the world make use of the startup’s services and don’t intend to abandon these tools. In particular, the National Bank of Egypt (NBE) has utilized Ripples technological innovations.
The project has also garnered the support of regulators in a number of countries. For example, Japan recognized XRP as a cryptocurrency in early January 2021.
Thus, support from regulators and market participants, as well as the Ripple team’s success in protecting the startup’s interests in court, suggest that the SEC may lose its case against the project. If the company secures victory over the Commission, the value of its token is likely to rise.
P.S. Information recently appeared on the network stating that the SEC’s court case against Ripple may be delayed until 2022. Investors who believe the startup will be exonerated of the Commission’s accusations can use this delay to purchase XRP.
Dogecoin is a very famous cryptocurrency meme that managed to grow from a developers’ joke into a full-fledged crypto project. As of the time of writing, the coin holds 6th place in terms of capitalization, according to CoinMarketCap.
In the crypto community, everyone knows Dogecoin is the favorite cryptocurrency of Tesla founder Elon Musk. In May 2021, the developer announced that he was personally working on technologically improving the coin. Even before this mention in Musk’s microblog, the coin had been demonstrating impressive growth.
Elon Musk confirmed his belief in the future of Dogecoin by agreeing to accept the project’s coins as payment for putting a satellite into lunar orbit. The launch will be handled by SpaceX, which also belongs to the car manufacturer.
In early March 2021, the results of a study conducted by an analytics company named Piplsay appeared on the network that suggested many investors take inspiration from the messages posted by the head of the electric car manufacturer.
The analysis showed that about 37% of market participants consider Musk’s messages to be a direct guide to action. Some 48 percent of the respondents polled by Piplsay think Elon Musk is a genius.
The developer’s love for Dogecoin, as evidenced by his frequent mentions of the coin in his microblog and other resources, suggests that the head of Tesla can influence investors and spur the growth of this digital asset on a repeated basis.
Uniswap’s UNI-token. At the time of writing, the popular DeFi protocol’s coin is 10th in terms of capitalization rating.
The decentralized finance (DeFi) market is becoming more and more popular. In many ways, this is largely due to the benefits that can be reaped from such projects. For example, DeFi-protocols offer ways of earning passive income and favorable terms for obtaining loans.
Uniswap is one of the most popular decentralized projects. You can earn money by supplying liquidity to pools within the platform. Simply put, the project provides tools for market participants to earn passive income by their locking assets.
Since the onset of the coronavirus in 2020, Uniswap’s offerings have become increasingly appealing, which has had a positive impact on its token’s value.
Litecoin is one of the oldest cryptocurrencies. As of the time of writing, the coin holds 12th place in CoinMarketCap’s capitalization ratings.
Many consider Litecoin to be one of the most stable cryptocurrencies in terms of price fluctuations. The coin’s creator, Charlie Lee, presents LTC as digital silver, as compared to bitcon (BTC), which is sometimes called digital gold.
According to the developer, over time, Bitcoin will become a place to save assets, while the technologically lighter Litecoin will remain a tool for conducting daily transactions.
In many ways, Charlie Lee’s prediction is coming true today. Many companies, including Tesla and Meitu, are now investing part of their capital in Bitcoin. At the same time, Litecoin remains among the capitalization leaders and has not lost its relevance, which indicates a high level of investor confidence.
Interesting fact! Many members of the crypto community believe that Charlie Lee is Satoshi Nakamoto – the creator of Bitcoin, whose identity has never been accurately established. The developer himself denies any involvement in the release of BTC.
Monero is a cryptocurrency with a high level of anonymity. As of the time of writing, the coin is 26th in terms of capitalization.
Regulators in most countries are working to create their own central bank digital currencies (CBDCs). With this new financial instrument, the authorities will be able to harness the advantages virtual assets have over traditional money to tighten their control over the population’s monetary transactions. For example, China and Russia are now in the process of developing CBDCs for this purpose.
This trend may spur interest in more anonymous cryptocurrencies. Boris Schlossberg, Managing Director of FX Strategy, expressed this point of view during an interview with CNBC at the end of May 2021. Many analysts agree with his opinion.
Bitcoin and other classic cryptocurrencies do not possess a high degree of anonymity. Monero appeared on the market to address the problems that can arise with digital assets that lack strong privacy attributes.
Monero allows you to maintain your anonymity when conducting transactions. Consequently, this cryptocurrency may become one of the most attractive financial tools on the market as countries work on releasing CBDCs that will allow them to monitor their citizens’ financial transactions.
How to Profitably Invest in Cryptocurrencies
There are many platforms on the market that can be used to buy crypto coins. Unfortunately, not all offer advantageous terms without hidden commissions.
At the same time, there are also noteworthy projects on the market, such as Alfacash, that have managed to gain the trust of crypto market participants.
Alfacash allows you to use a wide range of payment methods to purchase cryptocurrencies anonymously and at low prices, while bypassing the unpleasant conversion process.
The platform’s other advantages include high transaction speeds, prompt customer service, and a user-friendly interface. Alfacash’s wide range of cryptocurrency offerings also compares favorably to its competitors’.
To Sum Up
A detailed study of the many projects on the digital asset market can reveal their investment potential. To earn maximum profit from a purchase, you should choose time-tested trading platforms. For example, you can profitably purchase cryptocurrency on Alfacash.