When looking to invest in cryptocurrencies, bitcoin is usually the first name that comes to mind. And why not? It’s the most popular cryptocurrency out there. Founded more than 10 years ago, bitcoin is still the undisputed king of the crypto market, with a market cap of almost over a trillion USD. But, that doesn’t mean it’s the best or only cryptocurrency for investment out there.
Inspired by the success of bitcoin and to overcome its limits, many new cryptocurrencies have been created in the past decade or so. Collectively known as altcoins, many of these coins are as good, if not more, as bitcoin and can make a wonderful investment choice, both for beginners and institutional investors.
In this article, we will talk about some top altcoins for investment.
How to find the best cryptocurrency for investment
To be able to find the right coin for investment, one needs to have a basic knowledge of the crypto market, including how blockchain works, as well as the ability to analyse a cryptocurrency for factors such as:
- Uniqueness and feasibility of the cryptocurrency concept
- The team behind the coin
- The project community
- Tokenomics - total supply, circulating supply, price, market cap, trading volume, etc.
Here are some of the best cryptocurrencies that you can invest in.
1. Libra Coin (LC)
Libra Coin is a digital currency that was created as a utility token for the Libra Ecosystem, which is a decentralized platform for e-commerce. The Libra Ecosystem comprises tools, products and services for the development of decentralized applications, including smart contracts, for the betterment of the e-commerce industry. Besides that, the platform provides a comprehensive crypto-backed digital payment system that can be readily integrated into existing e-commerce systems for secure and low-cost global payments.
Invest in Libra Coin or find out more at https://libraecosystem.com/
2. Ethereum (ETH)
Founded in 2015, ETH is now the second-biggest cryptocurrency in the world. Unlike Bitcoin, which is a pure payment-focused digital currency, ETH is more focused on promoting and increasing actual uses of blockchain technology for creating advanced decentralized applications and smart contracts. In fact, the Ethereum blockchain is publicly available for anyone to build their own customised applications based on Ethereum.
If you want to invest in the best alternative to Bitcoin, this is the one.
3. Cardano (ADA)
Cardano is a relatively newer but fast-growing cryptocurrency that is based on the proof-of-stake consensus. ADA was created by a team of engineers and blockchain scientists through extensive research and review of existing peer-to-peer systems and to overcome the limitations of existing cryptocurrencies, particularly Ethereum.
For those looking for a PoS alternative to Ethereum, ADA might just be the one.
4. Tether (USDT)
Tether is a stable coin, i.e. a cryptocurrency whose value is relatively stable and linked with the value of the US dollar. Unlike regular cryptocurrencies that are volatile in nature, i.e. whose prices may change abruptly, the market value of USDT remains fairly stable, the same as the US dollar. The major benefit of investing in Tether is that you get access to global cryptocurrencies without all the volatility.
5. Binance Coin (BNB)
Binance Coin is a utility cryptocurrency that was created as the native coin for the Binance crypto exchange. Initially, the coin was used by the platform users for paying the trading fee and other platform charges, but now it’s a fully-fledged digital currency and can be traded against many top coins, including bitcoin and ETH. As the native cryptocurrency of the world’s biggest cryptocurrency exchange, BNB is likely to be a good investment for the future.
So, that’s all about the best alternatives to bitcoin for anyone looking to invest in high-potential cryptocurrencies. Know that the crypto space is changing very frequently, and new coins are emerging almost every day. So, keep yourself updated and keep researching the market to find and invest in the best altcoins.