Five Cryptocurrencies to Keep an Eye On

With Elon Musk's recent announcement that Tesla would not be accepting Bitcoin as a payment method, the cryptocurrency went through a major correction. His proclamation came about not because he rejected the idea of blockchain technology, but rather because of the large environmental costs in mining BTC.

With the future of BTC in doubt, here are five alt coins for investors to keep your eye on in 2021.

1. Ethereum

Created in 2015, Ether is the second-most valued cryptocurrency. With a market capitalization of $415 billion, this alt coin is not so alternative anymore. It is very widely accepted at places like Overstock, Amazon, or sports betting sites that you can find at MyTopSportsbooks .

Ethereum’s decentralized applications is what makes is so special. This enables users to make smart contracts, engage in decentralized finance (DeFi) . These features allow a higher number of public transactions, as compared to Bitcoin. This is more than an altcoin, it is a whole new way of conducting financial services. This one is here to stay.

2. Cardano

Founded by one of the five original members of Ethereum, Cardano is an alternative cryptocurrency with a lot of potential. In fact, its stellar development team is one of the driving forces behind its recent and potential growth. In January, it was valued at $0.18, and it is now at over $2.

This coin was developed through peer-reviewed research by mathematicians, engineers, and crypto experts. Transactions are light and cheap, and decentralized finance is available on its network. However, it is still in early stages of development, so it lacks many of the features already up and running with Ether.

3. Shiba Inu

Shiba Inu is looking to replicate the success of Dogecoin. Both dog-themed cryptos are billed as meme coins that deceptively appear as jokes, but are actually quite innovative. The Shiba Inu is incredibly lightweight and much more environmentally friendly than Bitcoin.

Its miniscule value at the moment, and recent buzz over some relevant Jeff Bezos comments, have many investors thinking that this is the next coin to make a set of millionaires out of nothing. Expect this coin’s value to sky rocket over the next year.

4. Dogecoin

Dogecoin is the main inspiration for the Shiba Inu. Both are dog-themed alternative coins meant to catch media fire. Dogecoins were, for a long time, the main way of tipping other users on Reddit. So far in 2021, the price has skyrocketed from $0.0054 to $0.40. While this is still a low value, this just means it will be all the easier for it to multiply in value.

Some look at the arrival of copycat canine coins as the death knell for Dogecoin. Rather, imitation is the true hallmark of success. Rather than the end, it actually marks the beginning of Dogecoin’s true launch.

5. Binance Coin

Binance Coin is the third-largest cryptocurrency. Launched in 2017 as part of the Binance platform, founder Changpeng Zhao is seeking to become the most important infrastructure service provider for all blockchain. It is a coin with power and ambition.

The Binance Exchange is one of the most used platforms for buying, selling, and trading cryptocurrencies. Those who use Binance Coin as a payment method get a discount on the network. Plus, it is a payment method used for transaction fees. In other words, there are important incentives to the continued use and therefore growth of this coin. Expect it to continue stabley for years to come.