- 1 Altcoins do a great job of bringing profits and scalability to the overall trading scenario.
- 2 Developed on different protocols, they offer better solutions on various fronts.
- 3 With these coins, investors make their portfolios profitable and diversified.
Altcoins are responsible for taking the blockchain to the length and breadth of the world. Besides the original crypto (Bitcoin), every other cryptocurrency is an altcoin. However, some people also coin Ethereum as a cryptocurrency. That is due to its high value and ubiquitous presence. All in all, altcoins are all the rage and they’ve become a favorite of crypto investors.
They enable token holders to diversify their portfolios. Moreover, they are cheaper and have great potential to gain higher value. Developers create these assorted tokens on different protocols. Each of them comes with distinct attributes. Thus, they become prized possessions to crypto investors.
Altcoins That Every Crypto Investor Should Know About
These tokens have performed exceptionally well in the markets, belonging to different blockchain ecosystems. They certainly take crypto ahead with more scalability and features.
Ethereum (Market Cap: $205 Billion)
In many ways, it is the original altcoin and is the biggest crypto after Bitcoin. The total market capture of Ethereum is 17% with $837 Billion in net valuation. Also, it is the first digital asset that extended support to DeFi-based programs. It emerges as the best utility token that enables its users to do a lot more.
XRP (Market Cap: $19 Billion)
XRP is the native token of Ripple Labs. Since its launch, it has become quite popular due to its payment processing abilities. It has a very low transaction fee and high security. Recently, the SEC brought a lawsuit against Ripple which had some impact on the token as well. However, it is currency doing fine, and market participants are buying/selling it too.
Dogecoin (Market Cap: $11 Billion)
It is the original meme coin that grew exponentially in the last few years. Though the meme coin space has seen many other tokens, this has maintained its supremacy. For so many people in the community, Dogecoin is synonymous with meme coin. It works on the Poof-of-Work protocol and has an uncapped total supply. Thus, it has limits on its generation and performs great in the markets.
Cardano (Market Cap: $13.7 Billion)
Cardano became a sensation soon after its launch. It was an early adopter of the Proof-of-Stake mechanism which expedites transaction time tremendously. In addition to that, it solves problems of energy consumption as well. Rolled out in 2012, its smart contract functionality has improved immensely. Besides, it has achieved many other remarkable feats which makes it a reliable buy.
Litecoin (Market Cap: $6.7 Billion)
It’s one of the original altcoins that improve the blockchain in many ways. While speeding up the transactions, it helps in eliminating mining monopolies. Litecoin has been developed to be a high-utility token. It has the ability to be highly used in day-to-day scenarios and addresses problems faced by Bitcoin.
With Altcoins, investors get to pocket decent profits frequently. They also secure long-term gains and various other advantages. These varied assets have emerged as the best solution for investors who want to make the most of market trends. It is because altcoins reflect the movement of the whole market very closely. They make investors wise and keep their trades lucrative all the time.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.