Best Cryptocurrency to Invest in October 2021 Reddit

InternetBest Cryptocurrency to Invest in October 2021 Reddit

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The growth of the crypto market as a whole has been just as impressive, with the current crypto market cap at almost $1.5 trillion. Such price increases make many people wonder whether cryptocurrency is still a good investment, and specifically what cryptocurrencies are the best cryptos to buy right now.

Because of the sheer number of cryptocurrencies available can be challenging to tell the difference between a project with long-term development potential and simply looking for fast cash. We've prepared a list of some of the finest cryptocurrencies to invest in for the year 2021. Taking into account a cryptocurrency's market value, development team, and market position.

More about Cryptocurrencies:
1. Is Cryptocurrency a Good Investment in 2021?
2. 10 Best Cryptocurrency Apps to Buy, Trade, and Stake

Compared to Bitcoin, altcoins tend to carry a higher level of risk, but they also tend to provide more significant rewards during a bull market. In imperfect markets, altcoins, on the other hand, tend to lose value faster. Smaller market capitalization cryptocurrencies, such as Bitcoin and Ethereum, are more volatile than more significant others. This list includes the top 100 cryptocurrencies, with a market capitalization of at least $1 billion for each project. Start investing in the future of finance now with our selection of the best cryptocurrencies for 2021. For more information, visit maximusedge-autobot.com

 

5 Best Cryptocurrencies to Buy in 2021 (Reddit Suggestion)

This list is a selection from the Cryptocurrency investors and from the major Reddit communities.

Before we begin with our list, let me make it clear that the crypto industry is an incredibly volatile and risky industry. It’s one of the riskier investments you can do, and you need to do your own research before putting any money in.

Never put in more than you can afford to lose, and do not let only this article convince you what to invest in. All that being said, let’s begin.

Crypto Fee Table

Before checking our list of best cryptos, please go through this list of popular Cryptos with the Transaction Time and Fees.

CryptocurrencyTimeFees
1. Nano0.14 Sec$0 (Yes, Zero)
2. Digibyte5 Mins$0.0005
3. Bitcoin SV7 Days$0.00055
4. XRP4 Secs$0.00078
5. Bitcoin Cash2.5 Hours$0.0024
6. Stellar4 Secs$0.004
7. Dash15 Mins$0.0043
8. Litecoin30 Mins$0.041
9. Monero30 Mins$0.0696
10. Doge20 Mins$0.239
Source: Lowest Fee Crypto

1. Nano. The fastest, feeless and green crypto

In our opinion, the single biggest opportunity in 2021 comes from Nano. Having already seen a price increase of 500% since a year ago, Nano is only getting started. So why Nano?

nano Coin

Nano has many properties that make us enthusiastic. First of all, transfers are instant. It takes an average of 0.14 seconds to fully confirm a Nano transaction. When you’re trying it out for yourself you’ll see that by the time you hit send and check to see whether it’s arrived, it’s already there. It does so while having the highest security in the market. Don’t take our word for it — Kraken considers Bitcoin deposits “secure” after 4 confirmations (40 minutes), while they consider Nano securely confirmed instantly. When Elon Musk talks about “least error & latency”, Nano is what comes to mind.

Second, Nano is feeless. That’s right, fees are absolutely $0. This isn’t some temporary gimmick either, transactions are feeless forever. Nano accomplishes this through the innovative Open Representative Voting mechanism. 

A third advantage of Open Representative Voting is that no mining is involved. Because of this, Nano has a good claim to being an extremely green cryptocurrency. To put this into context — a single Bitcoin transaction uses so much energy that you could drive a Tesla for 3000 miles with the same energy used. Nano on the other hand is so efficient that a single wind turbine can power the entire network. With the increasing focus on energy efficiency and saving the planet, this is going to become increasingly important.

The final impressive aspect of Nano that we would to highlight is its scalability. Nano has no upper limit. While Bitcoin tops out at 7 transactions per second on its best day, Nano has been tested at over 200 confirmations per second and scales with hardware. It uses whatever resources are available, and doesn’t stop growing.

Someone summarised it well by saying Nano is like Bitcoin, just 1000x faster, millions of times cheaper to use, with 30x the transaction capacity, 1 million times as energy efficient, while being more decentralised and more secure. 

Despite all this, Nano is priced lower than Bitcoin. In fact, its market cap is about 1/1000th of Bitcoin’s. We personally see massive growth potential here, and Nano takes the #1 spot on our list by a landslide.

2. Ethereum. The platform crypto 

Coming in at second place is far better-known crypto than Nano, yet it offers something very different. Ethereum (ETH) is the largest cryptocurrency when it comes to decentralized apps and smart contracts, and most of the Defi sector is built on top of it. It’s the father of the platform space and is still being developed.

Ethereum

What could potentially spell trouble for Ethereum is the high fees the chain is currently experiencing. Fees for smart contracts sometimes run into the hundreds of dollars, and people are desperately looking for alternatives. However, Ethereum started the lengthy process of switching to Ethereum 2.0 in December 2020. 

While this process will take a while to complete (estimates are 2+ years), ETH will become a lot safer, faster, and more usable when it’s done. There are a lot of good developers working on this, and because of the large industry built on Ethereum, there is every incentive to make this project a success. While it’s always a gamble to invest in a product that is still being developed, we believe Ethereum’s broad backing and the fact that it’s the base layer for so many blockchains gives it a strong position in the long run.

3. Bitcoin. The grandfather of the crypto space

Bitcoin, the undisputed king of cryptocurrencies, was the first and best-known digital money. It has the most significant market capitalization and is one of the most actively traded cryptocurrencies, providing investors with a high level of liquidity. Because most altcoins track the price of Bitcoin, if Bitcoin's price falls, it's probable that altcoins will as well.

Bitcoin

While Bitcoin is still below its all-time high price of $64,000, purchasing now might prove to be a wise financial decision. As long as the number of Bitcoin users increases, the asset's value will rise in value. The inflation rate of bitcoin is now 1.7 percent, and it is halved every four years in a process known as the bitcoin halving.

While we wouldn’t bet on Bitcoin (BTC) in the long run (see #1 for why we think it will face stiff competition), it’s still got plenty of momentum behind it. It’s a household name and is by far the largest cryptocurrency on the planet. Having recently come under fire for the high fees ($30+) and the pollution caused by Bitcoin mining, Bitcoin nevertheless is seeing increased adoption by institutional investors.

We believe that in the long run, Bitcoin will be seen as the first version that failed to innovate, and we believe it’s unsuitable to be an actual currency, for now, the crypto space is still largely linked to Bitcoin’s price and it is a relatively safe bet, in crypto terms, for gains in the next year. Just don’t expect to be able to actually use it.

4. Binance Coin.

The exchange token Binance coin (BNB) is a bit of an odd one out in the list. While it’s commonly derided for being a centralized cryptocurrency due to its link to Binance, no one can deny that it has a clear use case. Binance is one of the largest cryptocurrency exchanges right now, and BNB is the exchange’s token. It can be used to lower your transaction fees, and nowadays serves as the native token of the Binance Chain and the Binance Smart Chain (BSC), both of which are seeing strong growth too.

Binance coin

Is it a true cryptocurrency? Perhaps not. But for those looking to invest, there is clear value in crypto that almost everyone getting into cryptocurrency can profit from, and that will be heavily pushed by the largest exchange in the world.

5. Cardano - Ada

Cardano is another decentralized and Open source. You can use the Cardano Blockchain to send and receive Ada Cryptocurrency. This Cryptocurrency currently stands at $0.9 with 31,112,484,646 ADA circulating supply. Ada reached $1.1 in 2018.

cardano

Bitcoin takes more time for transaction which will make the users wait for a long time, and Ethereum is not scalable. Cardano was made to be a 3rd Gen Cryptocurrency. Cardano's Vision is to create an "Internet of Blockchains".

After struggling in September, Cardano is to have one of the highest growth potentials in October. The market capitalization went from $90 million to $66 billion in a matter of months. During October, the price of bitcoin dropped to US$2.20 from US$1.19. To make a comeback in October, both the 25-day and 50-day moving averages produced a bearish crossing. Cardano's cryptocurrency will become more established in the future, with a higher market cap and the ability to execute smart contracts.

6. LINK

The Chainlink decentralized oracle network is by the Ethereum currency Chainlink (LINK). After a brief hiatus, SmartContract.com relaunched as Chainlink in 2014. To better represent its primary market, Chainlink rebranded after the company went public.

In 2019, Chainlink and Google formed a strategic collaboration. Chainlink's protocol was as part of Google's intelligent contract strategy as a result of the deal. Because it allows customers to connect to Google's two most popular cloud services, this move was by investors a big victory. Chainlink may be bought and sold on both Coinbase and Gemini, according to your preference.

7. Polkadot

The cryptocurrency price is to climb in October due to a significant increase in market capitalization. During October, it is doing everything to return to the top of the green rising trend line. It allows DOT to stay on the upward trend while still providing certain products that are accessible to new users.

8. USD Coin

The price of USD Coin is currently $1.00, and analysts predict that it will rise to US$1.28 in October, before peaking at US$1.60 in the future. It's a stable coin backed by one US dollar at a 1:1 ratio. It's a good investment. Ethereum likewise powers the digital wallet, so volatility is to a minimum.

9. BNB

Binance Coin, like Bitcoin, has a hard cap on the number of tokens in circulation is one of its significant advantages. Because of this cap, BNB's value has risen to the fourth-highest level in the world's cryptocurrency market. With a 700% gain in 2021, the cryptocurrency is now the native currency of the well-known Binance exchange. Unlike many other cryptocurrencies on the market, it uses one-fifth of its revenues to destroy or "burn" a significant portion of its money annually. With a market valuation of over $50 billion, Binance Coin is no longer just a speculative investment; instead, as long as the hugely popular Binance platform continues to expand, the BNB coin has a positive future.

10. SUSHI

Decentralized exchange SUSHI Sushi, also known as SushiSwap, was founded as a competitor to Uniswap in the early days of cryptocurrency. Since its start, the application's creators have added several new features, and more are on the way. Uniswap does not provide dividends to holders of its tokens, but Sushi does. For every SUSHI token, token owners earn a fee of 0.05 percent of the total trading volume on the platform.

Token launch pads, loan markets, and even leverage trading are all part of the decentralized application. While OpenSea, currently the largest NFT marketplace, wants to establish its own NFT platform, Sushi intends to compete by launching Shoyu. NFT sales will be charged a 2.5 percent fee, with the money going to SUSHI token holders as dividends.

11. Tether

Tether is a prominent stable coin in investors' digital wallets and one of the top cryptocurrencies. It's well-known for bringing stability to the bitcoin market, as opposed to volatility. According to forecasts, the cryptocurrency price will touch US$1.28 on October 1st, while the current price is US$1.

# Just for fun in the list

Dogecoin is an absolute wildcard that we added because well, who can dislike his Dogeness? Started as a meme token, Doge quickly gained prominence and nowadays is recently “shilled” by Elon Musk. We could write about its fundamentals, which to be honest are abysmal (high transfer fees, high inflation, low usage), but that’s not the point with Doge. 

Doge coin

Doge is a pure funny coin, one whose value comes from the number of people who think it’s fun to create memes about the prime barker, and surprisingly this has launched Doge into the top 10 cryptocurrencies by market cap recently. Know getting in that this is by far the most speculative crypto on this list, and use it with play money only. 

Since the beginning of the year, the value of this cryptocurrency has increased by more than four thousand percent, making it the seventh most valuable one. Its value peaked at almost 70 cents in early May, but it has since fallen. As a result of its higher circulation and the ability to produce an infinite number of more coins, Dogecoin's price has remained significantly below the US dollar. While the total number of Bitcoins is limited to 21 million, the total number of Dogecoins is 130 billion, and new blocks add every year. Despite its wild speculation, Dogecoin has a higher hash rate than Bitcoin, which gives it a measurable edge over the most popular crypto.

Final thoughts on the Best Cryptocurrency to Invest

Cryptocurrency is a very volatile and irrational market. In the short run, prices can easily drop 30% in a day, or triple in a week. What we personally like to do is look towards the longer-term trends, and figure out which cryptocurrencies have the strongest fundamentals to merit high valuations through their possible usage in the real world, away from exchanges and speculators. We hope this list can help you and would like to reiterate once again that it’s of the utmost importance to do your own research before buying in. Good luck, and may the gains be on your side.

Author:
This is a guest post by Mira Hurley (@mira_hurley).
"$Nano is like #Bitcoin, just greener, without fees, instantly settled, and scalable."

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