7 Cryptocurrencies that Will Make You a Millionaire in 2021
Top Cryptocurrencies and Exchanges
Bitcoin has attained the status of the “Alpha coin” leading the pack of other altcoins.
Investors that missed the Bitcoin rush in late 2016 – early 2017 when Bitcoin was below $1,000/BTC may struggle to own one BTC.
📌A large stake in Altcoins may become a feasible strategy for future cryptocurrency millionaires.
📌 Cardano (ADA), Ripple (XRP), Polkadot (DOT) & Dogecoin (DOGE) has shown upside potentials with growing market capitalization. See full list.
📌 83% of Americans don’t keep their wealth in crypto, 1 in 10 hold more than 10% of their assets in cryptocurrencies, according to CNBC.
📌 The Winklewolves twins entered the cryptocurrency race intending to spur the blockchain industry. In 2012, both bought Bitcoins for $10 million when the top cryptocurrency’s price was trending around $8.
Let us delve further into the subject…
7 Cryptocurrencies that Will Make You a Millionaire in 2021
1. Bitcoin (BTC)
Cooper Turley, 25, started investing in cryptocurrency in 2017 when Bitcoin was trading a little above $2,000. Turley told CNBC that those early investments made him a millionaire worth 7 figures with 90% of earnings made within 2 years.
Bitcoin still maintains the same trajectory and is still one of the cryptocurrencies that could make you a millionaire.
This is so for three reasons:
1. Market dominance since its inception in 2009
2. High market value and capitalization.
3. Highly market liquidity (easy to sell, buy, swap)
Bitcoin has been performing well, recently, and it is expected that this upward trend should continue…
According to a report from Yahoo Finance, the cryptocurrency (Bitcoin) would eventually hit a value of $1 million per coin.
Despite Bitcoin’s fall in April 2021, Bitcoin still has great upside potentials. Investors that are optimistic about Bitcoin’s growth and anticipated returns can start adding BTC to their portfolio.
2. Ethereum (ETH)
Ethereum is one of the most flexible open-source cryptocurrencies with smart contract functionalities. Ethereum is known to power a lot of global payment platforms, and applications. Ethereum is also known to have a booming community of programmers.
Ethereum is trailing strongly after Bitcoin but has never overtaken it yet. Ether and BTC follow the same market path. As the price of BTC goes up, ETH follows. Ethereum is considered an alternative to BTC.
Buying Ethereum now is like buying the Bitcoin of the future. Although, Ethereum is valued at $2,500+ as of the time of writing. ETH still has lots of potentials.
3:Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is the fork of Bitcoin. It is also referred to as the spin-off or altcoin created in 2017. In November 2018, Bitcoin Cash split further into 2 other cryptocurrencies, Bitcoin Cash and Bitcoin SV(BSV).
Bitcoin Cash cryptocurrency was created to be a better version of Bitcoin (a Bitcoin-like cryptocurrency, without the flaws of Bitcoin). Bitcoin Cash increases the size of blocks allowing more transactions to go through.
BCH is permissionless and allows you to interact with other users without obstruction making its peer-to-peer cash system effective and reliable.
At over $600/BCH, Bitcoin Cash is just starting to gain momentum and early investors will be set for the kill once it inches above a $1,000 mark. BCH may not be able to compete in price compared to the “parent coin” – Bitcoin.
Bitcoin Cash is a cryptocurrency that investors could consider in their portfolio.
4. Ripple (XRP)
Ripple (XPR) is the native cryptocurrency of a blockchain platform called Ripple.
Ripple is a centralized blockchain platform developed to be a platform suitable for organizations to exchange large sums of money.
Despite lawsuits against Ripple Labs Inc. and its two executives in December 2020 by SEC for conducting $1.3 billion unregistered securities offerings, the coin’s travails and temporary setbacks did not push it below the top 10 cryptocurrencies on the market
Litecoin is a cryptocurrency very similar to Bitcoin; in fact, the codes behind the currency are modifications of those of Bitcoin.
Litecoin was created to address three of the major issues Bitcoin had: Speed, Cost, and the 51% attack vulnerability.
The average time for Bitcoin transaction confirmation by a miner is 10 minutes. Litecoin transactions require less time of about 2.5 minutes, putting it ahead of BTC in terms of efficient payment solutions.
During peak traffic, the cost of making a Bitcoin transaction rises, sometimes to an unbearable rate. People who use Bitcoin daily found this a serious problem. This problem ended up being one of the factors that triggered the creator of Litecoin to create the new cryptocurrency.
C: 51 percent attack vulnerability
It is often said that no one can control Bitcoin. This has been true so far, but it is not theoretically impossible to gain control of the platform.
If a person can contribute 51-per-cent of the computing power powering Bitcoin, they can gain control of the platform.
Due to the introduction of special mining computers called ASICs, it became increasingly feasible for someone to take over Bitcoin.
This realization was disturbing to a lot of people. This problem ended up being one of the factors that triggered the creator of Litecoin to create the new cryptocurrency.
There are presently many platforms that better solve the problems Litecoin solves. Despite that, Litecoin continues to grow in value – there are speculations that the growth will even explode in the coming months.
Algorand is a relatively young cryptocurrency. It was launched in 2019, but it has seen unprecedented adoption.
In just the past few months, it has experienced major events like the launching of Six Clove (a technology created by two former PayPal tech leads, to enable organizations to make large cross-border money transfers in real-time).
Algorand is expected to maintain its impressive growth in the coming months. Consequently, it can make millions for people who invest in it.
Algorand trades less than a dollar and it’s a coin to pick at its early phase of growth.
Tether is a cryptocurrency created to be a crypto equivalent of the US Dollars; for this reason, the price of 1 Tether has always been $1.
Owning to this nature of this cryptocurrency, Tether has always been of interest to investors and it is expected to see more investment in the coming months.
With the volatility of the cryptocurrency market, it is expected the more coins will contest for the top 10 positions.
New coins will emerge from the background due to promotions, market demand, valuation, and other market pressures.
To become a millionaire in crypto, it pays to start early with a diversified mix of Bitcoin and altcoins.