Viable Altcoins investment options

Fredrick Awino
23.04.2022
154 Views

Cryptocurrency use and acceptance is growing and so should be our knowledge about them. The digital currencies are a product of human genius and technology that grows very fast. Currently, cryptocurrencies come in two primary forms including coins and tokens. This difference in cryptocurrencies forms a key subject of discussion in our other post.

Bitcoin is the most popular cryptocurrency coin. Today, bitcoin is almost in the mouths of everyone who has heard about cryptocurrencies. At some point, bitcoins were almost synonymous with cryptocurrency. However, the fact of the matter is that bitcoin’s popularity does not take away the fact that it is just one coin amongst many.

Most early investors in cryptocurrencies started with bitcoin. Actually, bitcoin  was first created in January 2009 which  is somewhat the reason it is so popular. At this point, bitcoin is not only the oldest coin in the cryptocurrency chain but also stands out as the best cryptocurrency across the globe. Nonetheless, it is important that investors engage in spreading risks as other new valuable coins hit the market. It is  blind loyalty to just invest in bitcoin alone and ignore other upcoming options which promise to be equally valuable.

With your initial investment in bitcoin, you can easily change a little bit of it to other coins. Today, 19,018,168.75 BTC  are in circulation and held by more than 633,008 people. It’s a good investment strategy to transfer your bitcoin investments to Altcoins. Altcoins, just like Bitcoins, are highly valued.

Brief about Altcoins

The term altcoins may look so complicated and confusing. But it simply means any coin other than bitcoin. Bitcoin having been the first crypto to hit the market, it got almost exclusive status which then makes other new currencies to fall under it. Early cryptocurrency investors probably have a great regard for bitcoin. This darling for bitcoin is a result of its longstanding  reputation at the top before any other types of coins were minted on the blockchain.

The fact that bitcoin was an early cryptocurrency that ranks high in reputation and popularity does not make altcoins any lesser . By November 2021,  the cryptocurrency offers had increased to over 14,000. This happened within just 8 years since bitcoin was introduced. You will really be spoiled for choices on which altcoins to invest in. It’s therefore necessary that you  spare a little of your time to know the details for therein lies the angel or devil.

Shiba Inu

Shiba Inu is considered a supporter-driven and community altcoin. It enjoys advanced features as well as the security of the Ethereum ecosystem . Over the past months, it has posted important growth. Data from the CoinMarketCap shows that in the mid-2020, it was trading at $ 0.0000000005, but currently, it is trading at $ 0.00008. this is a confirmation that it has grown highly within a short period.

Ethereum

Ethereum is believed to be the second-largest cryptocurrency globally. The company boasts of potential application, especially smart contracts, which executes automatically as long as the conditions are met. Besides, most people believe that this cryptocurrency has a high price potential as compared to bitcoin .

Solana

Solana works with a blend of proof of history and proof of stake mechanisms. Solana altcoin has fetched so much returns to the  investors who readily understand and take the necessary risks. The cryptocurrency is believed to be a high cost effective network and quicker as compared to the other altcoins. Moreover, Solana offers a way of transferring value and blockchain security through staking.

Lucky Block

The lucky block is a global competition and games platform in which the players utilize blockchain protocols. The current price of Lucky Block is $ 0.001871. Besides, it is currently trading at PancakeSwap (V2) and LBank.

In the Lucky block, the players utilize Blockchain protocols operating in the Binance smart chain. It provides faster prize pay-out as well as full recording and tracking irrespective of the win size. Lucky Block is unique since it is a blockchain that certifies both players as well as their tickets, reducing tampering, destruction, and information loss likelihood.

Polkadot

Polkadot is one of the fastest-growing cryptocurrencies on the globe. It is highly valued. Besides, it has the ability to connect the different heterogeneous blockchain networks. The cryptocurrency is unique since it gives the developers the chance to create their blockchain while leaning on the security it offers.

Cross-chain interoperability is mainly achieved by offering different systems to work in unison as blockchains, permissionless, and oracles. Through permission, they are all connected using the Polkadot’s protocol. The main types of Polkadot networks include para chain, bridge chain, and relay chain.

Stellar Lumens (XLM)

The main aim of Stellar Lumens is to cement the cracks persisting in the crypto world and centralized finance world. In enhancing reality to the users, it connects the payment systems , financial institutions, and laymen.

Besides, Stellar Lumens utilizes the Stellar Consensus Protocol (SCP), which is its Proof-of-Stake consensus mechanism. Stellar Lumens also stands out as an open network for moving and storing money. Stellar’s SDKs and APIs are ready to assist an individual in transforming the finance world.

Dogecoin

Dogecoin was launched in 2013. Since then, it has evolved highly and become among the top cryptocurrencies in the market. Main companies, including SpaceX, Kronos, and Dallas Mavericks, rely on Dogecoin. This is an indication that it is doing well in the market. Thus, it is worth an investment after selling bitcoin.

Terra (L | / UNA)

Terra specifically works for stable coins. This reality is because Terra relies on keeping a balance between two kinds of cryptocurrencies. Terra-backed stablecoins, including TerraUSD, are linked to the physical currencies’ value. Luna and Terra’s stable coins work in relation to the demand and supply.

Tether (USDT)

The current market cap of this altcoin is £ 61 billion. As compared to the other kinds of cryptocurrencies, this one is a stable coin. It is mainly based on tokens. Moreover, it tries to peg its market value to an external reference. It is also backed by developed fiat currencies, including the euro, US dollars, and UK pounds, that play an important role in keeping a value equal to the three denominations.

Cardano

Cardano is among the best performing altcoin in the market. It has grown well since it was launched in 2021. It is through Cardano that Ouroboros was introduced . The good thing about it is that it has reduced energy consumption and transaction time. Therefore, investors should consider it as a good investment after selling bitcoin as it can earn good returns. Cardano has a similar thing to Ethereum of having a new function.

 

Author Fredrick Awino