Cryptocurrency, which has revolutionized the entire industry, continues to rise rapidly. It has become a great platform to invest money, whether you are a buyer or a seller. Altcoin refers to any other type of cryptocurrency other than Bitcoin.
However, before you invest your money, make sure you are investing in the correct cryptocurrency, as there are a number of them out there. To make it easy for you, we’ll go over a few of them that have the potential to grow this year, so you do not end up trading the wrong one. Let’s have a look!
A programmable blockchain system that allows you to send and receive cryptocurrency to anyone without the need for third-party involvement. It charges a small fee on every transaction.
Because they are programmable, they can be used for a wide range of digital assets (decentralized apps, dApps). You have the option of gaining access to any program or creating your own.
It’s more of a marketplace of financial services and apps that won’t steal your information. The incredible increase in value over time is a compelling incentive to consider when investing in Ethereum this year.
Solana, the fifth-largest cryptocurrency among a thousand others, is another blockchain platform worth investing in. The blockchain manages the currency by recording each transaction, whilst the computer network is responsible for verifying them.
It can handle roughly 50,000 transactions per second, whereas Ethereum can only manage 15 transactions per second and even has a higher fee than Solana. As a result, it outperforms Ethereum in processing speed and cost.
However, when comparing the two in terms of market capitalization, Ethereum is considered the second most valuable cryptocurrency after Bitcoin. The architecture has all three desirable attributes, decentralization and scalability. With these features, you no longer have to worry about the transactions as the network remains open to run applications.
Another cryptocurrency that has made it into the top ten by market capitalization is Avalanche. Although it is new to the market, it has quickly gained popularity. It uses the same technology as Bitcoin to power online transactions.
It’s a decentralized program that lets you borrow, lend, and earn interest without the involvement of a third party. According to industry analysts, the current trend is likely to continue in the upcoming years, making it an effective Bitcoin investment.
Although it is not among the top ten cryptocurrencies, it is rapidly growing. Uniswap is a decentralized exchange with no third-party involvement, as previously said, and you no longer need to register.
You can start trading cryptocurrencies after connecting your crypto wallet to your Uniswap app. Its blockchain architecture is based on Ethereum, so you need to pay fees for it.
Other names on the list include Stellar, Cardano, Chainlink, Tether, and others, which are also rapidly growing and will continue to do so this year. You should update yourself with the latest trends to decide which one works best for you!