Best Cryptocurrency To Invest In India – Cryptocurrency is gaining popularity among investors as a means of long-term investment as well as for short-term profit.
The aggressive marketing tactics of cryptocurrency exchange companies appear to have rubbed off on people in India out of nowhere.
Every day, you hear people talking about investing in cryptocurrencies or at the very least dabbling in this field to satisfy their curiosity. And recent developments indicate that the youth’s thinking is shifting.
Cryptocurrency is barely considered a speculative investment. Digital assets are being taken seriously by both retail and institutional investors.
With so much buzz surrounding digital currency, investors are seeing it as a viable option for both short-term profit and long-term investment.
But which ones should you put your money into? To make things easier for you, we’ll go over some crypto coins that have consistently topped the market cap charts.
These could be good long-term investment options due to their relative stability. So without wasting time let’s moove to our topic Best Cryptocurrency to Invest in India.
Top 10 Best Cryptocurrency to Invest in India 2021
|1.||Bitcoin (BTC)||Best Store of Value|
|2.||Ethereum (ETH)||Top Defi Platform|
|3.||Cardano (ADA)||Best Alternative to Ethereum|
|4.||Binance Coin (BNB)||Best Exchange Utility Token|
|5.||Polkadot (DOT)||Best to Allow Interoperability Among Chains|
|6.||Tether (USDT)||Best Stable Cryptocurrency|
|7.||Ripple (XRP)||Best for real-time payment|
|8.||Dogecoin (DOGE)||Best for good long-term investment|
|9.||Helium (HNT)||Decentralized wireless solution|
|10.||Stellar Lumens (XLM)||Best for High-speed Transfers|
1. Bitcoin (BTC)
In 2021, Bitcoin has to be one of the best cryptocurrencies to invest in in India. Since its creation in 2009, the Bitcoin has spawned a slew of new digital currencies.
Also Read – Simple Definition of Bitcoin | How it Works?
By market capitalization, it is the most valuable cryptocurrency on the planet. El Salvador has made Bitcoin legal tender, and some businesses have begun to accept it as a form of payment.
Having said that, the altcoin has gone through multiple boom and bust cycles throughout its brief existence. For the most part, though, it has been profitable.
2. Ethereum (ETH)
In India in 2021, there will be another cryptocurrency to invest in. Almost usually, Ethereum or ether is in competition with Bitcoin, Ethereum, or ether. Its market share in the cryptocurrency sector recently increased from 18% to 20%. It’s a decentralised blockchain network that eliminates the need for third-party intermediaries.
Ether is the second-largest altcoin in terms of market capitalization. However, at its current rate of growth, the altcoin is predicted to exceed Bitcoin in a few of years. Ethereum, a decentralised open-source blockchain platform for transferring and receiving value internationally, is in charge of the cryptocurrency.
3. Cardano (ADA)
Cardano is a decentralised blockchain platform with its own money. It makes it possible to conduct secure peer-to-peer transactions. It is planned to allow smart contracts on it as soon as possible.
Cardano was first introduced in 2015 with the intention of creating a decentralised financial goods ecosystem akin to Ethereum. This year will see the debut of DeFi applications based on Cardano smart contracts.
Cardano is promising because it addresses a number of issues that plague Ethereum, such as transaction speed and cost. It will be interesting to see how they compare with the current ETH 1559 upgrade.
4. Binance Coin (BNB)
Binance Coin, or BNB, has had a stellar year in 2021, making it one of the finest cryptocurrencies to invest in right now in India.
Its prices have risen by about 90% since the beginning of the year. Binance Exchange, the world’s largest cryptocurrency exchange, is in charge of the Binance Coin (based on daily trading volume).
The cryptocurrency was first released on the Ethereum blockchain in 2017, however it has subsequently become the Binance chain’s native coin.
Binance released BNB, a utility coin, as the world’s largest cryptocurrency exchange by trading volume. Binance coins (BNB) can be used to pay for transaction fees on the Binance crypto market.
5. Polkadot (DOT)
This currency provides as a network bridge, allowing many Polkadot-based applications to work with Ethereum and Bitcoin. It is, nevertheless, more scalable and speedier.
Hundreds of blockchains are constructed in a vacuum, unable to connect with one another. There was, for example, no way for a Bitcoin blockchain to communicate with an Ethereum blockchain until recently.
Polkadot is a bridge-like protocol that intends to facilitate interoperability (communication and value transfer) between different blockchains.
Polkadot is built to connect several blockchains and allow them to coexist in a single network.
6. Tether (USDT)
It was one among the first digital currencies to be linked to the US dollar. It is a cryptocurrency built on the blockchain. The coins are backed by bank-held fiat money.
Tether is considered one of the most stable cryptocurrencies available. Its value does not experience the same dramatic volatility as other major cryptocurrencies such as Bitcoin and Ethereum.
Tether prices are normally equal to $1, providing crypto traders with an opportunity to invest in a more stable asset. That isn’t to say Tether is the most secure altcoin. The currency has had its share of problems, including poor dollar reserves.
7. XRP Ripple (XRP)
RippleNet is a payment platform administered by Ripple Labs, and XRP is a digital currency that runs on it. The company is notable for its real-time payment system, which allows individuals to swap money regardless of their location or bank.
Ripple’s payment solution is now used by a number of financial institutions, including American Express, Santander, and MoneyGram. Many cryptocurrency and financial experts believe Ripple has the potential to become the most secure, standardised, and trustworthy global payment network.
This makes it a desirable alternative for both new and experienced traders. When you buy Ripple, you’re buying XRP as well.
8. Dogecoin (DOGE)
Dogecoin began as a meme coin in 2013, but it has since gained a devoted following. The currency’s biggest boost came earlier this year, when Elon Musk praised it in one of his tweets, and the Dogecoin price skyrocketed. The unlimited supply and low price of this contentious currency are its most prominent attributes.
Since its introduction, the coin has had a strong mining rate. It’s still speculative and hasn’t broken through the $1 threshold. It, on the other hand, has a wider circulation and an endless capacity to mine.
9. Helium (HNT)
By leveraging your wifi as a hotspot, the Helium Network (HNT) blockchain allows for the decentralisation of long-range wireless networks.
You can rent your spare wifi bandwidth to the HNT network and use it as a hotspot. You will be awarded with HNT cryptos in exchange. HNT wireless is presently available in North America and will be available in Europe soon.
Hotspots on the HNT blockchain enable public network coverage for IoT (internet of things) devices.
10. Stellar (XLM)
The typical large value B2B cross-border transaction is $50,000 USD. Transferring such a large sum of money takes 2-7 days, involves several middlemen, and is expensive in terms of commissions and bank fees.
The Stellar blockchain is an open network that aims to make large-value B2B cross-border payments quick and affordable.
Stellar accomplishes this by establishing connections between global financial organisations such as large banks and investment businesses.
The Stellar blockchain’s coin is called Lumens (XLM). To make a cross-border transaction on the network, you must have Lumens.
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Conclusion – Best Cryptocurrency to Invest in India
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Disclaimer – This article does not encourage you to buy any of the cryptocurrencies / or investing at all. This is just the opinion of an amateur, not a financial advisor. Before investing in cryptocurrency, I recommend talking to your financial advisor and do your own research.