When it comes to cryptocurrencies, Bitcoin has emerged as a trendsetter. It was probably the first cryptocurrency hitting the market that became a big hit in the following years. Very few cryptocurrencies have managed to grab a spot near Bitcoin. Seeing Bitcoin’s success, many tried replicating its success by launching a new cryptocurrency. Over a period, thousands of new cryptocurrencies were launched, and people started to address them all under the same category called altcoins.
So basically, any cryptocurrency other than Bitcoin is called an altcoin. Currently, you can come across thousands of altcoins, but not all are worth investing. There have been a select few constantly ranking in the list of top 10 over a couple of years. If you’re a crypto investor willing to expand your portfolio and buy crypto that can give you considerable profits, we’d suggest including some potentially lucrative altcoins. After talking to various seasoned investors and crypto experts, we’ve compiled an ultimate list of altcoins that deserve your attention in 2022. So let’s quickly take a look at the altcoins shared below.
A unique cryptocurrency in the space, Polkadot aims to connect permissionless and permissioned blockchains with oracles so everything can work seamlessly under the same roof. It is a PoS cryptocurrency whose core competency lies in the relay chain. For those who don’t know, relay chains allow the interoperability of varying networks. Polkadot is a rare cryptocurrency that allows parallel blockchains or parachains for specific use cases with their individual tokens.
Many compare Polkadot with Ethereum, but the reality is Polkadot is better than Ethereum. If you’re looking for a utility-driven altcoin that has the potential to stay relevant even in the coming decade, you should take Polkadot seriously. But it doesn’t simply allow developers to create dApps on the Polkadot blockchain but also enables them to create their own blockchain while letting them take advantage of Polkadot’s security.
Popularly known as Ethereum killer by many, Solana is a decentralized blockchain platform aimed at supporting dApps. Those who have used both Ethereum and Solana will know the latter offers better transaction speed and charges reasonably low transaction fees. Solana also uses Proof-of-Stake (PoS) consensus method – a mining method Ethereum is planning to switch to. Since Solana can also be used to create reliable NFTs, marketplaces, dApps, and more, its popularity is increasing with time.
If till now you were only interested in investing in Bitcoin, and looking for ways on how to buy Bitcoin online, we’d suggest looking for more options, especially Solana. While Solana offers more or less the same features as Ethereum, it is the excellent transaction speed and low transaction fee that make Solana an absolute hit among developers. It has also resulted in a steady growth of the number of developers using Solana for their projects. And the more the number of users increases, the better its price will be.
Although Dogecoin is popularly known as a meme coin, it technically falls in the category of altcoins. Unlike other altcoins mentioned above, Dogecoin wasn’t created to provide any real-world utility. It was basically created to poke fun at the rapidly growing number of altcoins. But as Dogecoin started gaining popularity, the prices began to soar. The biggest event that led to skyrocketing growth was when Elon Musk tweeted in its favor.
According to Elon Musk, Dogecoin is the cryptocurrency of the future. It features the Japanese dog breed Shiba Inu as its mascot. Dogecoin has been sustaining its market prices owing to the online hype created on social media. The only drawback of investing in Dogecoin is that when the hype dies, so will the coin. So if your long-term investment aims to profit from cryptocurrencies that remain relevant in the future, Dogecoin might not be for you.
Invest in Altcoins that Align with Your Investment Goals
As the cryptocurrency space has thousands of altcoins to choose from, it is easy to feel overwhelmed while making any investment decision. But things will be much easier if you get the option to pick altcoins from a hand-curated range of options. To make things smooth for crypto enthusiasts and other crypto investors, we’ve shared the top three, most promising altcoins deserving your attention. But if you wish to profit from your crypto journey, we would suggest investing in these altcoins or any other cryptocurrency only if it matches your investment goals. Deep cryptocurrency research and consideration of risk appetite is crucial while making investment decisions.
An author of Namaste UI, published several articles focused on blogging, business, web design & development, e-commerce, finance, health, lifestyle, marketing, social media, SEO, travel.
For any types of queries, contact us on info[at]namasteui.com.