cryptocurrencies have been in the market for quite a few years now and have undoubtedly proven to be among the most profitable investment opportunities beating the profits from conventional stocks and commodities such as oil and gold bitcoin has been among the more widely popular choice but however not the only good one cryptocurrencies becoming more and more popular among investors gaining new positions and producing outstanding results the meteoric rise of bitcoin from 10 000 since last year's list to an all-time high of 65 000 this april and other major cryptocurrencies over the past few months secured a record eight spots on this year's fintech 50 list for blockchain and cryptocurrency focused companies cryptocurrency trading has exploded mostly due to the rise in the value of the infamous bitcoin since other cryptocurrencies like dogecoin and litecoin also performed well in the market for a while now this caught the attention of people from across the globe there are more than 1 000 cryptocurrencies in the digital currency world today while only a handful of them have made it to the infamous cryptocurrency list others are trying their best to boost their pricing and their market capitalization one of them being polka dot as 2021 goes on many investors have gotten more and more curious to learn whether it's a good choice to invest in the brand new polka dot crypto while many people are still divided on polka dot we'll be diving deep on this topic for you today hey guys welcome to altcoin paradise today we'll be talking about whether polkadot is still undervalued in 2021 and also talk about if polkadot is the perfect crypto for you to invest in 2021 stay tuned to find out but before we get started if you like such topics please press the like button and subscribe to our youtube channel also share this video with your friends your support motivates us to keep putting videos up like this on a regular basis so without any further ado getting into the topic now there are more than 7 000 coins in the crypto market right now which makes it okay for us to feel overwhelmed and confused choosing the right cryptocurrency needs intense level of research to make a wise investment choice before making the final purchase you also need a few things set up like a crypto wallet polka dot was launched only a year ago last may and is already establishing itself as a next generation blockchain polkadot is a blockchain protocol for the next generation that links several specialized blockchains into one unified network polkadot was built as a proof of authority protocol it allows data transfer across blockchains and supports multiple chains within a single network its main feature is its scalability and ability to achieve it as it is easy to upgrade its governance is controlled by a single super user account after launch validators joined the network to participate in its consensus protocol the volka.token is an open source project powered by the web 3 foundation in the present this universe consists of more than 4 000 cryptocurrencies but no one's rise has been as stratospheric as polka dots dot became a top 10 cryptocurrency within only a few months of polka dots launch now you might be thinking polka dot is undervalued this year why would i want to invest in polka dot crypto well in 2020 polka dot cryptocurrency was one of the most profitable and most trusted cryptocurrencies back in the year 2017 the polkadot foundation arranged an ico where it raised around 140 million dollars but with great success there comes great loss in the beginning when polkadot went into losses and unfortunately had to undergo two sales rounds in 2019 and 2020.

While in 2017 the price of a dot was 30 us dollars and the dot holdings were recovered in august 2020 which means users who purchased a 30 coin hundred dollar new coins were offered for six us dollars each not bad right the dot journey started at six us dollars however it encountered a sudden fall to 2.81 because of this it rendered multiple tokens that boosted its market capitalization from 0 to 5 billion us dollars in just one day hence in a very short time frame polka dot has acquired a top cryptocurrency position polka dots parachains enable faster processing of transactions in parallel which boosts throughout it's been said that the first power chains will launch later this year which can process around 1 million transactions per second since the start of 2021 the value of the price has increased from 9.31 per token to roughly 38.7 that represents a 315.7 percent gain year-to-date and it's been said by many experts that polka dot is most likely to go nothing but up in the future polka dot is one of the biggest and most reputable investments when it comes to blockchain scaling it is looking upon as a promising blockchain that can replace ethereum's dominance in 2021.

Recently bitcoin has processed three transactions per second and ethereum has processed 15 transactions per second this indicates the scalability issue both these cryptocurrencies face yet polkadot is a clear winner in scalability with such great prospects investors are moving far away from bitcoin and ethereum and investing in polkadot polkadot simply aims to deal with interoperability one of the most pressing problems in the blockchain market blockchains operate as isolated data islands with few opportunities to use the knowledge that other networks have if you've ever tried your hand at staking before then i bet it probably wasn't a good experience but with polka dot instead of all network participants simply being stakers they are all divided up into two groups such as validators and denominators the very simple explanation of these two groups is that validators are the ones that are actually creating the blocks and nominators vote on who gets to be a validator validators receive the biggest rewards however being a nominator is a lot easier and cheaper there are many advantages involved of staking polka dots such as there are many rewards involved validators offer an average return of 10 this rate will vary depending on different criteria such as the amount of the stake the number of validators and the commission another advantage of staking from polkadot is that you become a part of the network you participate in the polkadot network by nominating the most competent and trustworthy validators in order to make the network more efficient polkadot is clearly a better investment when compared to some newly introduced coins that also create waves in the crypto industry the ability of parachains to issue their token is something like what you find in ethereum's protocols and that is one of the reason polkadot rapidly grew into the ranks on top projects polkadot also has been heavily marketed as the ethereum killer so it's only fair to compare it to eth currently ethereum trades at one thousand two hundred thirty three dollars at a market capitalization of over 140 billion dollars while polka dot price is around 16.6 dollars with 15 billion dollars in the market cap polka dot is one of the world's fastest rising cryptocurrencies in the market and probably also the most price effective in the market as polka dot reached a 15 billion dollar market capitalization already placing above xrp at number four polkadot communicates information on public networks from private blockchains thus launching a new age of scalability interoperability and security building technology like smart contract systems is supported by a scalable and adaptive architecture developers may then start developing next generation applications that receive approved data from a private blockchain and use it on a public blockchain so now the question is is polkadot a good investment choice in 2021 yes definitely 2021 is the right time to be investing in polkadot while in may 2021 polkadot was hit hard due to the market volatility and came to 17.71 us dollars from an all-time high of 48.68 us dollars in june it has been fluctuating but has been growing steadily as well on june 12th the price of volca dot was 20.17 us dollars however since then it has only been going up at the time this video was released the price of polka dot is 25.26 us dollars and in 24 hours the price has changed by 16.16 percent and the market cap has increased by 16.19 the current market cap of polkadot currently is 57 million 83 041 us dollars so in conclusion it's the right time to want to invest in polka dot as it is steadily growing and is expected to grow even more in the future as per digital coin price polka dot rates are projected to grow toward the start of 2022.

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