3 Cryptocurrencies to Grow Your Portfolio
Cryptocurrencies have had a big year in 2021, from the explosion of the meme-inspired cryptocurrency Dogecoin to the adoption of Bitcoin as legal tender in El Salvador. While there has been huge growth in the market with the rise of now 6,500 cryptocurrencies, the crypto evolution is still in its early stages, presenting investors with plenty of opportunities to invest.
Here are three cryptocurrencies that can grow your portfolio.
With a nearly $407 billion market cap, Ethereum (CRYPTO: ETH) is the second-largest cryptocurrency behind Bitcoin, and probably the second most well-known cryptocurrency as well. Ethereum is the name of the decentralized blockchain technology network that maintains a digital ledger of transactions, while the actual cryptocurrency tokens that run on top of the network are called Ether tokens. Like most cryptocurrencies, Ethereum can be used to transmit money to anyone, which is great for those without bank accounts. But the main draw for investors is that applications can be programmed on the network -- as can smart contracts -- which are essentially contracts that are automatically carried out in a very secure manner and cannot be altered after they have been executed and certain conditions are met. For instance, a landlord could create a smart contract with one of her tenants, where the rent is automatically transferred to the landlord on a set day each month as long as all of the conditions in the contract are met.
Source Fool.com
