Categories
Cryptocurrency

Top 5 Altcoins 2021

Many experts predict Bitcoin price will achieve a price of $100-200K. Although we can’t advise you on what you should invest in, we will share some options for the top 5 altcoins 2021 which many investors are buying. In addition, we will discuss what cryptocurrency is, the pros and cons of owning cryptocurrency and some future price predictions.

2021 is definitely going to be a big year for Bitcoin and Ethereum, as well as several other cryptocurrencies. As institutional investors flood into Bitcoin and Ethereum, prices for altcoins are expect to rise exponentially. As they say, “a rising tide lifts all boats.” We will discuss why these two cryptocurrencies deserve serious consideration as the top 5 altcoins 2021. In addition, we will also briefly discuss some other cryptocurrencies worth noting.

What is Cryptocurrency?

Cryptocurrency is a digital asset. Payments occur between individuals on the internet. In addition, the best cryptocurrency uses cryptography to secure transactions on a network. Block chain technology is part of what makes the network secure. Miners use powerful computers to solve advanced equations in order to earn Bitcoin or other cryptocurrencies. Finally, mining makes the distributed ledger network secure. In addition, it ensures that transactions are complete. As a result, no one can cheat the system.

What is Block Chain?

The block chain stores data on a public database. The blocks of information include transaction data, participant data and distinguishing data. Moreover, each block of data stores thousands of transactions under cryptographic lock and key. A network of computers operates the blockchain. They make the network run and keep it secure by solving algorithmic hashes. The network computers earn cryptocurrency for their work. Finally, the bitcoin block chain technology uses a distributed ledger. Bitcoin’s network security hinges on the distributed ledger that the network participates in.

Ethereum: A Block Chain Project That Uses Smart Contracts to Power Other Projects

Ethereum is an open-source, decentralized block chain project. It is known for its smart contracts. It provides open access to money, via the Ether cryptocurrency coin (ETH), and technology, exemplified by the thousands of applications that are operating on the Ethereum network. The ETH coin of Ethereum is second only to bitcoin in market capitalization.

Like Bitcoin, Ethereum is a Proof of Work consensus system. This means that powerful computers all over the world are continuously solving complexed equations in order to build blocks on the Ethereum block chain. Whichever machine or miner solves the problem quickest, completes the block and receives a reward as payment: ETH coin.

Although Ethereum shares some features with Bitcoin, such as being able to make peer-to-peer transactions, they serve different purposes and audiences. Bitcoin was the original decentralized payment system. As a result, banks do not manage payments. Ethereum’s primary purpose is to serve as the core block chain on which newer projects operate.

Ethereum uses a payment system for ETH. In addition, it implements smart contracts which allows entirely new projects to run on top of the Ethereum block chain. For example, in November 2017, the decentralized application “CryptoKitties” was launched. It is a digital collecting and trading app of virtual felines that works on Ethereum. As a result, Ethereum may be one of the top 5 altcoins 2021.

Reasons Why Ethereum May Be One of the Top 5 Altcoins 2021

  • Industry leader in smart contracts
  • Widespread use and adoption
  • $40 Billion market capitalization
  • Home of block chain decentralized applications (DApps)
  • Well established decentralized payment network
  • Serves as the block chain base for hundreds of projects
  • Independence from Banks
  • Border-less Payments
  • Low Fees

Other Cryptocurrencies to Consider

Here are some other cryptocurrencies that are worth looking at more deeply. Although Bitcoin is the most dominant and most secure cryptocurrency, there are many other cryptocurrencies that have strong security and strong use case value. A cryptocurrency investment portfolio may include other cryptocurrencies.

Cardano (ADA)

Named after Gerolamo Cardano, a 16th century Italian polymath, the Cardano project began in 2015. It is an open-source software project. Moreover, it innovates the design of cryptocurrency. Cardano has a long-term plan called the Road Map. Cardano’s most notorious feature is its implementation of peer-reviewed research. Research and peer review are a part of project development. It has a $27Billion market capitalization in 2021, which is 9X higher than just a year ago in 2020.

Ada price prediction

A team of academics, researchers and developers manage Cardano. They focus on solving cryptocurrency problems. Moreover, Cardano doesn’t focus on one use case scenario for cryptocurrency; instead, it appears to be tacking many problems at once, such as currency, proof of stake, smart contracts, scalability, security and even scripting. In addition, Cardano uses the delegated proof-of-stake method to maintain the network functionality. This is different because it is more efficient for electricity consumption. Cardano is the closest and most powerful competitor to Ethereum. It is also the most decentralized smart contract token, making it a favorite of investors. Cardano is definitely one to watch if you are looking for one of the top 5 altcoins 2021.

Chainlink (LINK)

Developed in 2017, Chainlink is a decentralized network that connects smart contracts with real world data. Furthermore, the Chainlink decentralized oracle network is operated by node operators. In addition, operators that maintain nodes are paid LINK cryptocurrency. The nodes connect the system like links in a chain. Chainlink runs on the Ethereum network and plays a critical role in execution of smart contracts. It is one of the new rising stars of the cryptocurrency revolution and one of the top 5 altcoins 2021.

Polkadot (DOT)

polkadot cryptocurrency

Another new rising star in the cryptocurrency space is Polkadot. The Web3 Foundation created Polkadot. Its primary function is to facilitate the operation of block chains together. The DOT coin functions in three ways: staking, bonding and networking. Finally, Polkadot contains special tools like specialization, scale and inoperability which act as catalysts between block chains.

Binance Coin (BNB)

Binance coin is a utility token. It is used to pay for Binance exchange fees. In addition, it also helps power the Binance decentralized exchange (DEX). The Binance coin is a deflationary coin. It is burned frequently by Binance. Part of the reason that BNB is so popular and successful is due the success of the Binance exchange. Binance is definitely a strong consideration when looking for one of the top 5 altcoins 2021.

Bonus: More Top 5 Altcoins 2021

The altcoins discussed so far have demonstrated longevity, strong communities and real use cases for their growth and development. We believe they are legitimate projects and not $h*t coins. Here are a few more altcoins that are a little riskier, but offer more growth (and profit) potential (Remember: do your own research before investing).

  • Elrond (EGLD)
  • Aave (AAVE)
  • Uniswap (UNI)
  • Oasis Network (ROSE)
  • Ramp (RAMP)
  • Synthetix (SNX)
  • Zilliqa (ZIL)
  • VeChain (VET)
  • Kyber Network (KYB)

Note: Some of these altcoins may be more difficult to obtain, especially for US Citizens. Again, these are high risk, and you can easily lose money here. Buyer beware.

Pros of Owning Cryptocurrency

Owning Cryptocurrencies May Save A Failing System

Owning cryptocurrencies requires that you have a future vision that is radically different than our current banking system. In addition, cryptocurrency is inherently risky and volatile for investors. However, many believe that cryptocurrency investment is a vote for monetary freedom and independence from governments.

Bitcoin doesn’t require using a bank; the bitcoin holder is the bank. Making borderless payments between friends became easier and more private. In addition, Bitcoin is deflationary, with only 21 million Bitcoins available for use. And, if you are starting to have doubts about government money printing and overspending, then Bitcoin is an obvious candidate for safe-haven status.

Furthermore, it is clear that the US Dollar and many other leading world currencies are struggling. Central banks around the world are printing larger sums of cash to cover debts and expenses, which weakens the currencies. As a result, investors are looking for safe places to maintain their wealth and currencies like the US Dollar become weaker. Cryptocurrencies can be an option for investors looking for a place to park their cash.

Cons of Owning Cryptocurrency

Fraud, Theft and Volatility Are Still Issues with Cryptocurrencies

There are some cons to owning cryptocurrency. In addition, cryptocurrency and the block chain space are a very new industry. Bitcoin is only 11 years old and there have been growing pains in the space. First, cryptocurrency has been vulnerable to fraud in the past. For example, $800 Million worth of Bitcoin was stolen from “Mt. Gox” crypto exchange in 2014. Second, scams have been a problem in the industry, especially with new projects. Finally, price volatility has frightened away many new potential Bitcoin users.

Future Predictions of Bitcoin and Ethereum Prices

Reputable Investors Foresee Exponential Growth in Bitcoin and Ethereum Markets

It seems clear that in 2021, Bitcoin and Ethereum will begin the next phase of expansion and adoption. As a result, the price of both cryptocurrencies will likely go much, much higher. These are certainly important when determining the top 5 altcoins 2021.

Anthony Pompliano and Max Keiser, two well-known investors in the Bitcoin space believe that Bitcoin price will exceed $100,000 in the next few years. Other investors like Mike Novogratz and Chamath Palihapitiya believe Bitcoin price is destined to go even higher to levels like $400,000 and $1,000,000, respectively.

-CoinMarketCap Bitcoin Price Chart

As for Ethereum, investors are optimistic about its future price as well. Ethereum’s market capitalization was only $40 Billion in 2020. It has recently reached $200 Billion in market cap and is rising. Continual adoption of Ethereum by institutional investors could easily lead to a $1 Trillion market capitalization, equating to a $4,000-5,000 ETH price. Investors such as Nigel Green and Blockfyre co-founder Simon Dedic predicted much higher prices ($2,500 – $9,000) for Ethereum in the future.

It should be noted that several of the investors mentioned are worth Billions cumulatively and have a clear track record of investing in markets. As a result, their predictions should be seriously considered.

Altcoin Exchanges and More Information

Hopefully this article has given you some ideas about choosing the top 5 altcoins 2021. When making investing decisions it is important to do your own research and determine for yourself what is a good investment.

In addition, there are many exchanges that can be used to purchase cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Please do your research if you decide to invest. There are many scams in the crypto industry that are searching for an easy mark.

Wrap Up: Top 5 Altcoins 2021

Hopefully you have a better idea of how cryptocurrency works and what the top 5 altcoins 2021 are. This new technology is set to change the world and how we do things online.

If you want to learn more about Bitcoin and cryptocurrency, there are more articles by Piggy Bank Coins below.

Read More:

Cryptocurrency For Dummies

Prediction of Bitcoin Price

The Fastest Growing Cryptocurrency

Best Cryptocurrency

Bitcoin

Top 10 Cryptocurrency

How to Become a Millionaire from Nothing

Cardano ADA News

One World Currency

Disclaimer:

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, in order to help you make the best choice for you.

Categories
Cryptocurrency

Best Altcoins Under $1

In this article we discuss the best altcoins under $1. There are many options for potential winning cryptocurrencies under $1 that you may want to take a look at. In addition, we provide more information on blockchain technology and other projects to keep an eye on.

There are actually several cryptocurrencies that we think qualify as the best altcoins under $1. Read on to learn more about many growing cryptocurrency projects and the best altcoins under $1.

The Best Altcoins Under $1

There are 5 solid projects that we believe are going to be winners in the future. They have solid technology, a winning team of developers and a strong community of supporters. In addition, these projects serve a purpose in the crypto currency space and may be considered one of the best altcoins under $1.

Our Cryptocurrency Picks Under $1

Cardano (ADA)

Decentraland (MANA)

Hedera Hashgraph

Zilliqa

VeChain

Ada price prediction

I. The Cardano (ADA) Project

[Full Disclosure: Cardano is currently trading above $1. However, we want to included it in our list of the best altcoins under $1 because it is very affordable at slightly  more than $1.]

“Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (DApp).. [of] ..verifiable smart contracts…Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. [It] is designed to be the platform of choice for …the economy of the future.” Cardano Roadmap

“Ada” is the native token for Cardano. It is named in honor of Ada Lovelace. Ms. Lovelace was a 19th-century mathematician. Ada was the daughter of the famous poet, Lord Byron. In addition, Ada is known as the first programmer.

Ada is a decentralized digital currency. Second, Ada doesn’t require third party involvement. In addition, Ada is exchangeable world-wide. Finally, the blockchain records each transaction permanently.

Cardano has three primary partners which embody the advancement and evolution of the project: The Cardano Foundation, Emurgo and IOHK. The public face of Cardano is Charles Hoskinson, who was one of the founders and developers of Ethereum in the early days. He’s a cryptocurrency heavyweight who has quietly helped build the Cardano project over the years to where it is today. Hoskinson has a powerful vision and plan for Cardano and has helped to create a project that is a serious threat to Ethereum.

History of Cardano

Cardano started out in 2015 as a vision to address blockchain problems of scalability, interoperability and sustainability. Later, after much communication and coordination on GitHub, the Byron era began in 2017. The purpose of the Cardano project was to solve the problems encountered in the future for cryptocurrencies. It is a next generation crypto project.

The Cardano (ADA) Project Proof of Stake

The Ada token is part of the proof of stake methodology. For example, each Ada holder can hold a stake in the Cardano blockchain network. As a result, users who hold Ada will earn a reward for participating in the network. This proof of stake model really helps improve Ada coin price prediction  by increasing the overall value of the project. We believe that Ada will be a winner in the running of the best altcoins under $1.

II. Decentraland (MANA)

[Full Disclosure: Decentraland is currently trading above $1. However, we want to included it in our list of the best altcoins under $1 because it is very affordable at slightly  more than $1.]

Decentraland (MANA) is a virtual reality platform. The Ethereum blockchain powers the platform. Using Decentraland, users can create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.

Launched in 2017

Decentraland was launched during an ICO in 2017. In addition, the project was opened up to everyone to use in 2020. Currently, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.

How Decentraland Works

Decentraland uses two tokens: MANA and LAND. The MANA token is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of things, such as avatars, wearables, names, etc. The tokens are used on the Decentraland marketplace.

Decentraland is built for content creators, businesses and individuals that are looking for a new artistic medium, business opportunity, or source of entertainment.

The Metaverse Gaming World

In total, the Decentraland game world — termed the “Metaverse” — is divided into 90,601 individual parcels of LAND, each of which is represented by an ERC-721 non-fungible token. Each LAND is exactly 16m x 16m (100 square meters) and can be found at a particular coordinate in the Metaverse.

Though LAND holders are free to develop their plot into whatever they choose, much of the Metaverse is broadly divided into several districts, each of which has a different size and theme. These districts were generated through individual crowd sales for MANA tokens, and parcels of LAND in these districts cannot be traded.

Although Decentraland is not one of the best altcoins under $1, it appears to be a strong project with a promising future. Clearly, MANA is a great choice among the best altcoins under $1.

MANA Income

Besides being a creative outlet, many Decentraland users currently monetize their LAND through leasing, advertising and paid experiences. Likewise, other users generate an income by creating and selling items on the Decentraland marketplace for MANA tokens.

III. Hedera Hashgraph (HBAR)

Hedera Hashgraph is a public network that allows individuals to create decentralized applications (DApps). HBAR has also been called the “trust layer of the internet.” It is designed to be a fairer, more efficient system. It eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.

HBAR originated through an ICO in August 2018. Subsequently, the Hedera Hashgraph mainnet launched in 2019. The HBAR token has a dual role within the Hedera public network.

How Hedera Hashgraph Works

First, HBAR is the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions. Second, it’s used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.

Foundation

HBAR was co-founded by Dr. Leemon Baird and Mance Harmon. Dr. Baird is credited as the investor of the hashgraph distributed consensus algorithm. He currently works as Hedera’s chief scientist. Prior to founding Hedera Hashgraph, Baird accumulated more than a decade of experience in various computer science and security roles and previously worked as a senior research scientist at the Academy Center by Cyberspace Research. He also holds the position of co-founder and CTO at Swirlds Inc., a platform for building DApps.

HBAR’s cofounder, Mance Harmon, is the CEO and an experienced technology executive and seasoned entrepreneur. Harmon has around two decades of experience holding executive roles at prominent firms — many of which are in the IT security industry. Like Dr. Baird, Mance Harmon also holds a second position at Swirlds Inc., as its co-founder and CEO.

Hedera Hashgraph is Different than Regular Block Chains

Unlike most other cryptocurrency platforms, Hedera Hashgraph isn’t built on top of a conventional blockchain. Instead, it introduces a completely novel type of distributed ledger technology known as a Hashgraph. This technology allows it to improve upon many blockchain-based alternatives in several key areas, including speed, cost, and scalability. HBAR claims it can handle more than 10,000 transactions per second (TPS) — compared to the around 5-20 for most popular proof-of-work (PoW)-based blockchains. Clearly HH is a great choice for the best altcoins under $1.

Network Services Offered by Hedera Hashgraph:

  • Smart contract tools that let developers build powerful and efficient decentralized applications.
  • A consensus service that acts as a layer of trust for any application or network that needs a secure, verifiable log of events.
  • Decentralized file storage services with features include proof-of-deletion, controlled mutability, and time-based file expiry.
  • A token service that allows users to easily configure and mint both fungible and non-fungible tokens (NFTs) on Hedera with just a few lines of code.

IV. Zilliqa (ZIL)

zilliqa

Zilliqa is a blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications. In addition, it allows for staking and yield farming.

The project was founded in 2017 and launched its testnet in 2018. Later, in 2019, the Zilliqa platform launched its mainnet for everyone to participate. The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.

Founders

Zilliqa was first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena and several students in the School of Computing published a paper in 2016 that outlined how a sharding-focused blockchain could improve network efficiency and speed.

Zilliqa Scalability Solved?

The project states that they run entirely on a sharded network. As a result, this allows it to achieve a high rate of transactions per second, which may solve the scalability issue. Because each shard processes transactions individually, as the network grows and the number of shards increases, the number of transactions that can be processed per second also increases. As well, records are immediately added to the Zilliqa blockchain after being processed, meaning that no additional time for confirmation is required.

Zilliqa seeks to become the blockchain of choice for large-scale enterprise use, including among the advertising, gaming, entertainment and financial services and payments industries. In its 2018 position paper, its team states that the platform “aims to rival traditional centralized payment methods such as VISA and MasterCard.”

V. VeChain (VET)

VeChain (VET) is a blockchain-powered supply chain platform. It was founded in 2015 and launched in June 2016. It uses distributed governance and Internet of Things (IoT) technology to create an ecosystem which solves some of the major problems with supply chain management.

The VeChain platform uses two tokens, VET and VTHO, to manage and create value based on its VeChain Thor public blockchain. Using two in-house tokens boosts the efficiency, traceability and transparency of supply chains while reducing costs and placing more control in the hands of individual users. VeChain launched in 2016, making it one of the oldest dedicated blockchain supply chain platforms on the market.

Founders

VeChain is the product of creator and co-founder Sunny Lu, an IT executive who was formerly CIO of Louis Vuitton China. Fellow co-founder Jay Zhang, who directs VeChain’s global corporate structure, governance, and financial management, previously worked for both Deloitte and Price Waterhouse Coopers in the finance and risk management sphere.

Using transparent technology with no single point of weakness or control allows for greater security, efficiency and ease of tracking products in a given supply chain, while reducing cost through trustless automation. VeChain’s model thus appeals to businesses looking to reduce supply chain friction and give a more transparent impression to clients.

VeChain’s official literature notes that its unique proposition lies in its dual-token setup, among other features. In-house token fees combine with charges for various services to generate operating income for the company, while token holders can engage in activities such as staking, thus providing liquidity in return for rewards.

VTHO and VET Tokens

The VET token is used for transactions and other activities, while VTHO provides fee payments and thus functions as a “gas token,” similar to how gas functions for Ethereum (ETH) transactions. VET holders automatically generate a small amount of passive income in VTHO, while 70% of the VTHO used in a VET payment is destroyed. VTHO is generated based on VET holdings, while VET itself has a maximum fixed supply of 86,712,634,466 tokens.

What is Cryptocurrency?

Cryptocurrency is a digital asset that can be exchanged. It is a payment method between individuals. It is exchanged among individuals on the internet. Furthermore, cryptocurrencies use cryptography to secure transactions on a block chain network. Miners use powerful computers to solve advanced equations in order to earn Bitcoin or other cryptocurrencies. Finally, mining makes the distributed ledger network secure.

The first successful cryptocurrency was Bitcoin. It was introduced to the world in January 2009. After Bitcoin came Ethereum. If Bitcoin is king, then Ethereum would be the queen. These two cryptocurrencies may be the best crypto to buy now in our lifetime. However, all investments come risks and you must do your own research to determine how to invest personally. In addition, Bitcoin is not one of the best altcoins under $1, but is one to consider.

Bitcoin: A Peer-to-Peer Electronic Payment System Created by Satoshi Nakamoto

Bitcoin is an open-source, block chain-based technology that was designed as a peer-to-peer payment system. Furthermore, it is designed to be a decentralized electronic payment method. Payments can be conducted semi-anonymously among individuals. Bitcoin is digital cash. Many consider Bitcoin to be the best and most secure store of value coin you can own.

Furthermore, it uses block chain technology to maintain its function. In order for users to send and receive bitcoin, the block chain depends on miners. Miners use computers to complete complex calculations. The Bitcoin miners build blocks on the block chain. As a reward, the miners receive Bitcoin as payment.

Satoshi Nakamoto created Bitcoin in 2009. He wrote a 9-page white paper entitled, “Bitcoin: A Peer-to-Peer Electronic Cash System.” Bitcoin was the first cryptocurrency to experience widespread use and adoption. However, its use case has evolved over the years from a peer-to-peer payment method to a store of value model. Many Bitcoin users hold bitcoin much like you would hold silver or gold in an investment portfolio.

Why Bitcoin May Be the Winner (In the Long Run)

  • First cryptocurrency to experience widespread use and adoption
  • $1 Trillion market capitalization
  • Use case as a peer-to-peer payment method
  • Serves as a store of value much like silver or gold
  • Deflationary money: Limited supply of only 21 million Bitcoins
  • Replaces the US Dollar as World Reserve Currency
  • Privacy
  • Independence from Banks
  • Borderless Payments
  • Low Fees
  • Meets all the requirements of the definition of money

Ethereum: A Block Chain Project That Uses Smart Contracts to Power Other Projects

Ethereum is an open-source, decentralized block chain project that is known for its smart contracts. It provides open access to money, via the Ether cryptocurrency coin (ETH), and technology, exemplified by the thousands of applications that are operating on the Ethereum network. The ETH coin of Ethereum is second only to bitcoin in market capitalization.

Like Bitcoin, Ethereum is a Proof of Work consensus system. This means that powerful computers all over the world are continuously solving complexed equations in order to build blocks on the Ethereum block chain. Whichever machine or miner solves the problem quickest, completes the block and receives a reward as payment: ETH coin.

Although Ethereum shares some features with Bitcoin, such as being able to make peer-to-peer transactions, they serve different purposes and audiences. Moreover, Bitcoin was the original decentralized payment system that didn’t require a middleman bank to conduct payments. Although Ethereum is used for payment sometimes, its primary purpose is to serve as the core block chain on which newer projects operate.

Ethereum uses a payment system for ETH. In addition, it implements smart contracts which allows entirely new projects to run on top of the Ethereum block chain. For example, in November 2017, the decentralized application “CryptoKitties” was launched. It is a digital collecting and trading app of virtual felines that works on Ethereum.

Reasons Why Ethereum May Be a Future Winner

  • Industry leader in smart contracts
  • Widespread use and adoption
  • $120 Billion market capitalization
  • Home of block chain decentralized applications (dapps)
  • Well established decentralized payment network
  • Serves as the block chain base for hundreds of projects
  • Independence from Banks
  • Borderless Payments
  • Low Fees

Best Altcoins Under $1 in 2021

Currently, in 2021, Bitcoin is trading around $60,000 per Bitcoin. Obviously, it is the least affordable crypto out there. However, there are many analysts who believe it could go much higher. But even more importantly, Bitcoin and other cryptocurrencies may break the banking chains that imprison us today. And it’s no longer a conspiracy theory to discuss cryptocurrency. Respected investors are taking it seriously like never before.

Future Predictions of Bitcoin and Ethereum Prices

Reputable Investors Foresee Exponential Growth in Bitcoin and Ethereum Markets

It seems clear that in 2021, Bitcoin and Ethereum have begun the next phase of expansion and adoption. As a result, the price of both cryptocurrencies will likely go much, much higher. In addition, these may be the best crypto to buy now. However, there are other good choices as well.

Anthony Pompliano and Max Keiser, two well-known investors in the Bitcoin space believe that Bitcoin price will exceed $100,000 in the next few years. Other investors like Mike Novogratz and Chamath Palihapitiya believe Bitcoin price is destined to go even higher to levels like $400,000 and $1,000,000, respectively.

As for Ethereum, investors are optimistic about its future price as well. Because Ethereum’s market capitalization is only $200 Billion, there is much room for growth. Continual adoption of Ethereum by institutional investors could easily lead to a $1 Trillion market capitalization, equating to a $7,500 ETH price. Investors such as Nigel Green and Blockfyre co-founder Simon Dedic predicted much higher prices ($2,500 – $9,000) for Ethereum in the future.

Several of the investors mentioned are worth Billions cumulatively and have a clear track record of investing in markets. They have been advising investors of which is the best crypto to buy now for years. As a result, their predictions are very serious.

Bitcoin Exchanges and More Information

Hopefully this article has helped you make a better decision about the best altcoins under $1. There are many exchanges that can be used to purchase cryptocurrency. Binance, Gemini, Kraken, Coinbase and so many more. Please do your research if you decide to invest. There are many scams in the crypto industry that are searching for an easy mark. If you want to learn more about Bitcoin and cryptocurrency, there are more articles by Piggy Bank Coins below.

Best Altcoins Under $1 Wrap Up

As you can see, there are many choices for the best altcoins under $1. Cryptocurrency is a growing industry with a bright future. Blockchain technology is here to stay and will be a part of the growing tech revolution. As a result, cryptocurrency should play an important part in everyone’s investment strategy.

Read More:

Best Altcoins for 2021

Cryptocurrencies to Invest In

Cheapest Way to Buy Bitcoin

Cryptocurrency for Dummies

Bitcoin

Top 10 Cryptocurrency

One World Currency

Best altcoins Wallet in 2020

Best altcoins

Prediction of Bitcoin Price

The Fastest Growing Cryptocurrency

How to Become a Millionaire from Nothing

Cardano ADA News

Disclaimer

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

In addition, The Federal Trade Commission (FTC) requires that Piggy Bank Coins disclose to readers that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. Moreover, we try our best to keep things fair and balanced, in order to help you make the best choice for you.

Categories
Cryptocurrency

Ada Coin Price Prediction

On January 20th, 2021 PiggyBankCoins made a pretty wild Ada coin price prediction about Ada and the Cardano project. At the time, Ada was listed at $0.34 on Coin Market Cap. Since then, Ada has gone as high as $1.56 (April 14, 2021), a 5X jump in just a few months. Clearly, the Ada coin price prediction is well on its way to higher levels.

In this article we discuss Ada coin price prediction and why we think Cardano is important to future cryptocurrency development. In addition, we discuss why we think the price will go much higher, possibly as high as $3-4 per coin.

Prior to making the Ada coin price prediction, it is important to understand what Cardano and the associated token Ada are. In addition, we discuss the history of Cardano and why it was invented. Finally, this will help you better understand our Cardano price prediction.

What is Cardano?

“Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (DApp).. [of] ..verifiable smart contracts…Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. [It] is designed to be the platform of choice for …the economy of the future.” Cardano Roadmap

“Ada” is the native token for Cardano. The coin is named after Ada Lovelace. Ms. Lovelace was a 19th-century mathematician. Ada was the daughter of the famous poet, Lord Byron. In addition, Ada is known as the first programmer.

Cardano Logo

Ada is a decentralized digital currency. Second, Ada doesn’t require third party involvement. In addition, Ada is exchangeable world-wide. Finally, the blockchain records each transaction permanently.

Cardano has three primary partners which embody the advancement and evolution of the project: The Cardano Foundation, Emurgo and IOHK.

History of Cardano

Cardano started out in 2015 as a vision to address blockchain problems of scalability, interoperability and sustainability. Later, after much communication and coordination on GitHub, the Byron era began in 2017. The purpose of the Cardano project was to solve the problems encountered in the future for cryptocurrencies. It is a next generation crypto project.

Proof of Stake

The Ada token is part of the proof of stake methodology. For example, each Ada holder can hold a stake in the Cardano blockchain network. As a result, users who hold Ada will earn a reward for participating in the network. This proof of stake model really helps improve Ada coin price prediction  by increasing the overall value of the project.

Ada Cardano Wallets

Currently, there are two wallets for Cardano: Daedalus and Yoroi. The Daedalus wallet is the official desktop wallet for storing and transacting Ada. Moreover, IOHK created it. Emurgo, sister company to IOHK, created the Yoroi “light” wallet. Specifically, Yoroi is designed for daily usage, as well as quick transactions.

In addition, the Icarus wallet was released in 2018. It is an open-source, “lightweight” wallet that allowed developers to create their own wallets. Consequently, Icarus was a prototype of Emurgo. It later became the Yoroi wallet. In addition, having two working wallets for Cardano improves overall Ada coin price prediction  for the future.

Cardano Ada Roadmap

The Cardano project made up of five parts. Each part is part of the Cardano Roadmap. Ada coin price prediction  increase with progress. The Cardano Roadmap includes:

Byron – Foundation (Released)

The first incarnation of Cardano allowed users to buy and sell the Ada cryptocurrency – so named for revolutionary programmer Ada Lovelace – on a federated network running the groundbreaking Ouroboros consensus protocol. Ouroboros is the first proof-of-stake protocol created from academic research. It has a mathematically-proven level of security.

The Byron era also saw the delivery of the Daedalus wallet, IOHK’s official desktop wallet for Ada, as well as Yoroi, a light wallet from IOHK’s sister company Emurgo designed for quick transactions and day-to-day use.

Ada price prediction

Shelley – Decentralization (Released July 2020)

The Shelley era encompasses the critical early steps in Cardano’s journey to optimize decentralization – and like any first steps, these will be gradual but significant. The network was federated during the Byron era. In the future, nodes shift to run by the Cardano community. Eventually, the majority of nodes will run by network participants. As a result, Cardano will be more decentralized. It will enjoy greater security and robustness as a result.

Shelley will also see the introduction of a delegation and incentives scheme, a reward system to drive stake pools and community adoption. As a proof-of-stake network, users stake their Ada to participate in the network. Shelley is designed using game theory, as well as proof-of-stake networks. In addition, the delegation and incentive scheme will encourage users to delegate their stake to stake pools. The pools will operate on community-run network nodes. Network users are rewarded for participation.

Goguen – Smart Contracts (Scheduled Release: Mid-2021?)

The Goguen era also encompasses work to make Cardano accessible to wider audiences via Marlowe, allowing financial and business experts with no previous technical knowledge to create smart contracts. Marlowe is a high-level, domain-specific language (DSL) for financial contracts which is built on Plutus. Marlowe comes with the Marlowe Playground, an easy-to-use application-building platform that non-programmers can use to build financial smart contracts. Together, Marlowe and the Marlowe Playground simplify the process of creating smart contracts for financial applications, allowing subject matter experts to directly contribute without requiring deep programming skills. The combination of Plutus and Marlowe will enable a new class of enterprise-level smart contracts with verified functionality, capable of underpinning large-scale implementations in the real world.

More on Goguen

As well as adding functionality in the form of smart contracts, Goguen will also see improvements to the core Cardano offering. Most significantly, the addition of a multi-currency ledger will extend the usefulness of Cardano even further, enabling users to create new natively-supported tokens. This will allow the creation of fungible and non-fungible tokens, supporting the creation of new cryptocurrencies on Cardano as well as the tokenization of many types of digital and physical assets. Another benefit will be easier integration of smart contracts and DApps involving multiple cryptocurrencies.

Basho – Scaling (TBD)

Voltaire – Governance (TBD)

Recent Cardano Developments

In March 2021, the Cardano project became the first fully decentralized blockchain project in the world. It is quickly becoming a legitimate threat to its giant competitor, Ethereum.

“IOHK, a blockchain research and development company and the developers of the Cardano blockchain, reports that as of today Cardano block production has been successfully decentralized. In addition, IOHK states that they will no longer produce any blocks on Cardano, with the responsibility now fully in the hands of the blockchain’s community of over 2,000 community stake pools.” – CrowdFundInsider

Furthermore, “IOHK defines decentralization as requiring three distinct elements: block production, governance, and network. Staking provides a way for users to participate in the protocol and to create blocks. Only when all three of these elements have been achieved can a blockchain call itself fully decentralized and the community will be completely in charge.” – CrowdFundInsider

Yella Virtual Machine

IOHK announced recently that it had signed a six-figure contract with Runtime Verification to develop Yella. Moreover, this project is apparently one of Hoskinson’s favorite projects. He anticipates having many deliverables from Yella. Yella is a virtual machine, also called IELE.

Hoskinson believes Yella will make Ethereum’s virtual machine “look like a toy.” This is significant considering that Hoskinson was a co-founder of Ethereum. This is certainly big Cardano Ada news.

Goguen Release Scheduled For 2021

Cardano’s Goguen mainnet is scheduled to be released March 2021. Furthermore, Hoskinson has indicated that Goguen will be a work in progress after it is released.

Cardano Marketing Ramp Up

Hoskinson indicated that marketing of Cardano will begin to have some priority. He stated he is in daily communication with the new Cardano marketing director. She will initially focus on comparative blockchain marketing and then subsequently focus on campaign marketing.

New Cardano Stable Coin

At the end of August 2020, Charles Hoskinson announced some surprising Cardano Ada news. He said that Cardano was working on developing a stable coin that will be “better than MakerDAO.” He indicated that Cardano had created the partnership with Emurgo specifically to help launch a stable coin to improve on MakerDAO’s shortcomings.

Hoskinson went on to say of Emurgo and the new stable coin,

“For example, we’ve partnered with Emurgo, and we’re right now working on the logistics of a stable coin with them that we’re going to be building first on Emurgo to verify everything works correctly, and then we’ll pull it over into Cardano and this is going to be an algorithmic stable coin.” – Charles Hoskinson

Having a stable coin that is native to the Cardano space could really improve the future Ada coin price prediction . This may begin to unfold in 2021.

Ada News on Staking Rewards

You can find simplified explanation of how Cardano staking works at Cardano’s Website. The Cardano wallets that support staking are Yoroi and Daedalus. Users will delegate a stake of their Ada holdings to a stake pool. This will allow those users to earn rewards over time, paid in Ada. Staking allows the Cardano blockchain to remain functional while involving users directly in the process with an incentive. Staking became active for users in early 2021.

It’s important to note that specific staking rewards vary from person to person. The example provided for the Rewards Breakdown on the Cardano Staking Calculator Website is 5.14%. Obviously, this is simply an average. Again, rewards will vary over time. Use the calculator to estimate your individual staking rewards for Ada. Currently, users are reporting staking rewards approximating 4%.

Cardano News

To summarize where we are today in Cardano Ada news: Cardano is a working blockchain project with many active users, two functional wallets and a currency called Ada. Moreover, all future development and innovation expands upon this base of technology and increases the Ada coin price prediction .

If activity of a project is any indicator of future success, then Cardano has a serious chance at succeeding. For example, in 2019 Cardano was ranked #1 most developments on GitHub. GitHub is a collaboration bulletin board for software developers to share ideas and coordinate projects.  

Will Ada Reach $3 or $4?

First, Piggy Bank Coins believes that Ada coin price prediction  will continue to grow in price because of the potential of this project. In April 2021, Cardano rose above $1.50, which was the all-time high for the token. As of the writing of this article, Cardano is valued at $1.25. With Bitcoin price hovering near $55,000, there’s no reason to think that Cardano can’t do the same in the near future. As a result, the next target for Cardano is probably around $2.00 which may occur in 2021 or 2022.

Prime XBT: $1.50 – Achieved!

In the November 2020 Prime XBT article, they predicted Cardano would reach $0.36 by the end of 2020. On January 6, 2021 (just 6 days after the deadline), Cardano reached $0.35. in early 2021, this high was shattered as Ada reached an all-time high of $1.56 in April 2021. They go on to predict that Cardano will likely approach $1.50 in 2023-2025. This was achieved in April 2021, several years ahead of schedule. They subsequently believe that even higher prices are possible by Cardano as we approach 2025!

Future Ada Coin Price Prediction

Other Notable Ada coin price prediction :

  • DigitalCoinPrice estimates that Cardano will reach $0.57 by 2025 (Achieved in 2021)
  • LongForecast estimates that Cardano will reach almost $0.29 by end of 2021 (Achieved in 2021)
  • CoinFan predicts that Cardano will reach almost $0.19 by end of 2020 and $0.45 in 2025 (Achieved in 2021)
  • CoinSwitch predicts that Cardano will rise to $2-3 by 2025
  • Coinpedia estimates Cardano will be trading around $12 by 2022 and as high as $100 in 5 years.
  • Wallet Investor estimates that Cardano will reach $0.82 by 2026 (Achieved in 2021). The updated prediction states that Ada will reach $5.71 by 2026.

$3– $4 Price Range for Ada Based on Gold Market Capitalization

It seems clear that in 2021, Cardano has begun its next phase of expansion and adoption. As a result, Ada’s price will likely go much, much higher. We at Piggy Bank Coins believe the future is bright for Cardano. We have made a clear case that Cardano is a strong store of value, burgeoning technology, strong security and a growing network of users.

Historically, Cardano price has fluctuated, which hurt its reputation. However, Cardano price has stabilized over the past 12-18 months and in early 2021 has skyrocketed to new highs (as we predicted). As the world economy stumbles through a massive recession and the US Dollar struggles to maintain relevance in a changing world economy, Cardano may be the answer to future technology problems.

Future Cardano/Ada Market Capitalization $100 Billion May Be Within Reach

According to the Visual Capitalist, the world gold market has a $10.8 Trillion value. Less than half of the value is in jewelry. Therefore, we can assume that gold, the world’s favorite “store of value,” is a $5 Trillion market. Cardano has a market cap value of only $40 Billion (a tiny fraction of gold’s value). Imagine what Cardano will be valued at when it begins to realize its place as the digital silver to Bitcoin as Gold. A Cardano with a market capitalization of $100 Billion is not beyond reasonable calculation for Ada coin price prediction .

A Cardano market capitalization of $100 Billion equates to $3.25 Cardano, priced in US Dollars. Cardano’s all-time high of $1.56 in April 2021 is approximately half of the possible future high of $3.25 and seems completely reasonable. Pricing Cardano in this range does not require much imagination. In addition, we have not factored in price impacts such as US Dollar devaluation/failure, other money supplies moving to Cardano (M1, M1, M3, etc.), institutional adoption, and so much more. The Cardano sleeping giant has awakened. Get ready!

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Disclaimer

It is important to note that Piggy Bank Coins does not provide financial advice. We don’t endorse or recommend any financial investments. Instead, we provide information for educational purposes to those seeking knowledge regarding personal finance. However, in the spirit of transparency, note that the author is an investor in cryptocurrencies, precious metals and some equities.

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