Tell me the best altcoins. There's no crystal ball to know for sure but there are insights to share to make a more informed decision.
Seems like anyone that is remotely connected to crypto wants the inside track on the best altcoins to buy? It makes sense when you consider that a miniscule investment can go nuts and turn into major profits overnight.
Stories of people turning what you’d spend on a meal at McDonalds into 6 figures is enough to peak anyone’s curiosity.
With that said, we are going to delve a bit further into the world of altcoins and explore what might be worth considering a few bucks on the table.
What is Altcoin?
You probably have already heard of Bitcoin. But what is an altcoin? The simplest way to explain is that any other cryptocurrency apart from Bitcoin is referred to as an altcoin. It derives the term from two words, ‘alternative' and ‘coin.' But the important thing to note is that despite sharing many similarities with Bitcoin, there are some differences in the way it operates. It comes in different features offered by each Altcoin, such as low-price entry points, smart contracts, tokenomics and more.
If you didn't know, you would be surprised at how many cryptocurrencies have entered the market apart from Bitcoin.
Data suggest that there are up to 9000 cryptocurrencies in the market as of March 2021!
Altcoins to buy
With a growing number of options entering the market at a brisk pace it makes it challenging to choose the best altcoins. You probably have other concerns regarding them, such as the risks involved, the potential for growth, the cost of the altcoin, etc. Nevertheless, here is a list of some of the altcoins that you can investigate a bit further:
- Binance coin
- Dodge coin
- Stellar Lumens
These are some worthwhile options if you want to dive a bit deeper into the altcoin market.
If you want to try an altcoin exchange, the first thing you need is a cryptocurrency exchange account. Note: there are crypto exchanges and they all contain altcoins.
But other platforms also allow altcoin swaps, and the options for each exchange vary from one platform to the next. Depending on the features available, you can buy and sell altcoins using Bitcoin, trade pairs of crypto etc. It's worth noting that the features of a platform and things like your choice of crypto investment vary with each exchange. Also note: if there’s a coin you’re looking and you don’t find it on one exchange, you may find it on another. Each exchange has specific cryptos (including alts) they hold on their exchange.
There are highs and lows in the crypto scene. When I say that, we are talking about bull markets and bear markets. When you hear the terms “bullish”, they are referring to positive outlooks for the crypto. It typically means that things are doing well.
When things aren’t doing well, then it’s labelled bearish or a bear market or you may even hear the term.. crypto winter.
There are seasons in crypto and again anything outside of Bitcoin is considered an alt, but both the bear and bull markets affect the crypto season that is being experienced or talked about.
If you want to invest in Altcoins, the options available are overwhelming. However, there are three altcoins worth considering that have potential.
This crypto (earlier called Matic Network) is one altcoin to watch out for. Ethereum stands as the second biggest crypto globally, and there are plenty of platforms that deal with this crypto. However, users face different problems due to things like high transaction costs and heavy congestion. So Polygon attempts to solve some of these issues by sitting on the Ethereum network to provide a friendly environment in the crypto market.
Cardano is another good altcoin that you can explore. It is highly regarded as the academics cryptocurrency because every development step is peer-reviewed. The best part is that transactions are handled faster and use a fraction of the energy from Bitcoin and Ethereum. Notably, Cardano is projected to reach its full potential only after years compared to other altcoins. But the good news is, Cardano has announced the option for smart contract liabilities.
Uniswap is another good altcoin if you want to go for a less popular decentralized coin. This crypto stands out because it uses an algorithm for calculating prices and sets liquidity pools for the users. More recently, it announced the version 3 rollout and introduced the Arbitrum system.
Best altcoins to buy
So what are the best altcoins that you can buy right now? There are quite a few of them that look promising according to data and analysis, and you can check these out.
- Binance coin
It’s worth noting that the market cap for all these altcoins varies. Ethereum still holds the largest market cap when it comes to altcoins.
Best altcoins to invest in
The term ‘best altcoins to invest' is subjective because, by nature, cryptocurrencies are highly volatile. So it keeps changing in the market quite rapidly.
However, you can always look at the current trends, data, and analysis to decide which altcoin to invest in. So, here are some of the current best altcoins that you can invest in no particular order. Be sure to do your own research before taking any investment actions on your own.
- Binance coin
- Lite coin
Altcoins with most potential
Altcoins have huge potential when it comes to growth. But many factors determine the growth and prospects. Nevertheless, if you want to know about some of the altcoins with the most potential for growth in the coming years, here are some of them for you.
Ethereum still holds probably the most significant potential for growth in the cryptocurrency market. Known as one of the pioneers that introduced DeFi (Decentralised Finance), the Ethereum blockchain is gaining more traction and will likely continue to do so, making it ideal for growth.
Stellar Lumens is another decentralized crypto that looks promising. One of the reasons it can experience some growth is that its closest rival, Ripple, is under SEC investigation. So it's an excellent opportunity for Stellar Lumens to become the payment network globally. It is one of the altcoins to keep an eye on.
Finally, Chainlink is another good altcoin with growth potential. The potential for Chainlink seems limitless because it deals with things like smart contracts, real-world data, tokens, etc., and many DeFi apps cash in huge sums to use the LINK token on their platform.
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