Cryptocurrencies - what to mine in 2021? To dig or not to dig, the Miner replies



19 października 2021
Cryptocurrencies - what to mine in 2021?  To dig or not to dig, the Miner replies

Cryptocurrencies - what to mine in 2021

By definition, cryptocurrencies are electronic currencies invented in 2008, which differ from traditional currencies by the fact that they are completely decentralized. Until their introduction to global stock exchanges, only Central Banks of selected countries were (and still are) the only entity that can issue legal currency in a given country. However, the creators of cryptocurrencies, moving with the times, wanted to create a currency that is not subject to the actions of governments and lawmakers, and that at the same time does not have its physical form - which has also succeeded. Therefore, investing in cryptocurrencies in 2021 may turn out to be not only a safe option to accumulate wealth, but also can increase the state of profits held by a selected investor.

Cryptocurrencies are built on the basis of blockchain technology. In short, blockchain is a public register of transactions performed with the use of selected cryptocurrencies. Using a number of computers (and people who support them), you can constantly update the value of cryptocurrencies. What's more, they are not subject to any jurisdiction and therefore have significantly better features than fiat money, i.e. paper money, issued in a selected country as the only legal tender.

Which cryptocurrencies are worth investing in in 2021?

There are several cryptocurrencies that experts say are safe in 2021 that can bring you big profits at the same time. They include, among others:

Bitcoin - one of the most popular and quite well constructed cryptocurrencies based on blockchain technology. In addition, Bitcoin has a number of features that put it much higher than other cryptocurrencies. First of all, it is not controlled by any government, institutions or other organs of administration and fiscal and state control. Second, when using this cryptocurrency in the settlement of transactions, there is no need for intermediaries between the buyer and seller. What's more, transactions take place in seconds, which is even ahead of the time of using payment cards in the terminal. In addition, there is a limited supply (quantity) of Bitcoin available on the market, so it is not possible to print it indefinitely (as is the case with traditional currencies).

Ripple - it is a cryptocurrency that is gaining more and more popularity, which in 2021 may also turn out to be an investment opportunity on this market. It is mainly used when settling transactions by selected entities in cross-border areas (where completely different currencies are used on a daily basis in close proximity). It has features similar to Bitcoin, which also proves its security.

Litecoin - although it is not as fast and profitable as Bitcoin, it also looks quite promising. If you are wondering what cryptocurrencies to mine in 2021, this investment could pay off (especially for people playing computer games). This is where this cryptocurrency is used as the settlement of the transaction after any move by the players.

As we wrote earlier, if you invest in cryptocurrencies such as Bitcoin, Litecoin or Ripple, it can bring you significant profits in a short time. Additionally, you will be able to learn how to use electronic currencies, which will probably serve as legal tender in the future. However, it is worth remembering that mining cryptocurrencies in 2021 and investing in cryptocurrencies this year may involve a significant risk. Just like on a traditional stock exchange, if you do not have the appropriate experience or knowledge, you can expose yourself to considerable losses. Even so, learning to invest in cryptocurrencies is fairly straightforward, and it is worth realizing the enormous benefits it can bring.

Attention! The above article neither in whole nor in part constitutes a "recommendation" within the meaning of the provisions of the Act of July 29, 2005 on trading in financial instruments or the Regulation of the European Parliament and of the Council (EU) No. 596/2014 of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC and Commission Delegated Regulations (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65 / EU of the European Parliament and of the Council as regards organizational requirements and operating conditions for investment firms and defined terms for the purposes of this directive. The content contained on the website does not meet the requirements for recommendations within the meaning of the above-mentioned act, incl. do not contain a specific valuation of any financial instrument, do not rely on any valuation method, and do not identify investment risk.

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