February 15, 2021 | AtoZ Markets – As cryptocurrencies break more and more into the mainstream, aspiring investors might wonder which are best to invest in. We’ve put together this guide to help break it down.
If you’re interested in precious metals but don’t care for rules and precautions standing in the way, Platinum Coin is the asset for you. Considered a stablecoin, this cryptocurrency is tied to the value of platinum. By purchasing it, you’re literally investing in platinum assets, just without the need to store them.
Platinum Coin stores its assets in a high-security vault, which is audited on a monthly basis by GDA Capital. It’s incredibly easy to buy, and you don’t even have to reveal your identity to do so. Plus, you can redeem your cryptocurrency for the physical bullion if you’d so prefer. Note, however, that you cannot do so anonymously. Platinum Coin needs to make sure they’re providing the bullion to the right person.
Built on the Ethereum network, Platinum Coin is purchased automatically with no input necessary from the company. This also eliminates any additional fees or transaction times, ensuring you have access to your investment ASAP. All you need is an Ethereum-compatible wallet to store it.
Bitcoin is on the rise, and many experts believe it’s gonna keep going. The asset has broken and held way above the $30,000 mark, making it an ideal one to get involved with.
After all, institutional investors and other big groups are putting money into Bitcoin. If these financial geniuses are pouring in their funds, they certainly believe in Bitcoin’s potential. It’s also becoming more of a widespread cryptocurrency. PayPal, for instance, now allows users to trade and hold assets on the platform. More companies are bound to follow.
Bitcoin’s price might jump even more as regulators are prepping for proper laws and taxation to go into effect this year. Projections are reaching into the hundreds of thousands. While it’s a speculative asset, and there’s always the chance of it failing, many have reason to believe Bitcoin is only just starting.
Speaking of Ethereum, this is another project that might break big in 2021. Toward the end of 2020, Ethereum moved to a proof-of-stake consensus method. This means there’s no longer any way to mine it. Instead, the network asks users to lock-in their hard-earned tokens. In return, these users are considered transaction validators and are rewarded in Ethereum for doing just that.
More exciting is the prospect of earning interest. On top of earning for validating transactions, validators earn interest based on how much Ethereum they’ve staked. The more they stake, the more interest they earn. It’s very similar to a traditional savings account.
This platform is also the home of decentralized finance applications. Essentially, these are traditional finance apps moved onto the blockchain network. That decentralization allows apps to work autonomously, with users saving on fees and other charges. Similar to the previous two assets, Ethereum is projected to grow quite a bit this year.
Finally, we have Monero. A privacy coin, this asset is for traders and investors who want to remain anonymous during all of the future regulations. It’s one of the only cryptocurrencies that is truly private, meaning anyone can send transactions without worry. This will only become more valuable as cryptocurrency is more mainstream.
On top of that, the asset is less risky to invest in than smaller projects like Huobi and IOTA.
As regulations come into place, and cryptocurrencies find more of a use case, investors will flock to them. It’s good to do some research and get involved early before the massive rush occurs. Hopefully, this guide helps you decide on the best digital asset to invest in for 2021. Just keep in mind that all crypto investments are speculative.