You may be thinking that Bitcoin is the only cryptocurrency worth investing in. However, there are many other altcoins out there with promising features and use cases. There are over 2000 cryptocurrencies available on CoinMarketCap right now, and some of them will have a lot of value in 2021.
Bitcoin has a finite supply of 21 million coins that will ever exist, and the number of new bitcoins created each day is getting smaller. This means that the miners who are mining bitcoin are not going to be able to continue mining in the following years when only 5% of all bitcoins will still be available for them to mine. When this happens, many people believe that bitcoin’s price per coin may increase exponentially because it will become more difficult for miners to make money off their investment.
In this article I’ll cover 5 cryptocurrencies to look into for the new year:
- Cardano (ADA)
- Monero (XMR)
- Stellar Lumens (XLM)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
These coins offer varying degrees of security and utility, so you can find one that fits your needs best!
In light with this information, you might want to start investing in altcoins now so that when 2022 hits you can take advantage of the value increase as well as diversifying your portfolio by having some investments outside of just Bitcoin.
Cardano:
Cardano was founded in 2015 by Charles Hoskinson, a co-founder of Ethereum. The project is developing the blockchain technology that will allow users to send and receive digital currencies with privacy and security.
I have been an avid follower of the Cardano price trend since I first found out about it. It’s not often that you come across a coin with such potential, but Cardano seems to be one of those coins. What really stands out to me is how this company was created as a scientific research project at the University of Athens in 2015 by co-founder Charles Hoskinson who previously founded BitShares, Ethereum, and Invictus Innovations (as well as several other companies).
If you’re interested in following the success of cryptocurrency, Cardano is a hot topic that needs to be on your radar. The coin has been steadily climbing up in value and it’s not slowing down anytime soon!
Are you looking for a new cryptocurrency to invest in? Cardano is one of the newest and most promising cryptocurrencies on the market.
Monero:
The cryptocurrency craze has been a roller coaster ride for investors over the last couple of years. The prices have been skyrocketing, plummeting and everything in between. With all the volatility, it’s hard to know how to invest without getting burned or missing out on the next big thing.
In this section I’m going to focus on Monero and talk about why you should consider investing in it instead of Bitcoin.
What is Monero?
Monero, which means “coin” in Esperanto, was created to be a digital currency with more privacy. It’s called the “most secure and private cryptocurrency.”
At its core, Monero is based off of cryptonote protocol which includes ring signatures and stealth addresses. Ring signatures are utilized to make transactions private by mixing up the sender’s address or public key with other random members’ public keys from the blockchain ledger, thus making it more difficult for hackers or authorities to track where a transaction originated from. Stealth addresses also keep things private since they provide one-time destinations for all funds transferred between users, so only the receiver knows where their money came from
I’m not going to go too much into the technical details of Monero, but I will say that it’s a currency with privacy as its main focus. It was created in 2014 and since then has been steadily growing in value. Monero is currently ranked #10 by market cap on CoinMarketCap so if you’re looking for an alternative cryptocurrency to invest your money in, this may be one worth considering.
The coin has been around for about 7 years now. In that time it has grown substantially in terms of market capitalization and price.
Stellar Lumens (XLM):
The cryptocurrency industry is very competitive. There are many cryptocurrencies to choose from, but Stellar Lumens (XLM) has been making some big moves lately that make it worth considering as an investment.
What is Stellar Lumens XLM?
Stellar Lumens is a decentralized protocol for exchanging money. It provides a way to move money across borders quickly, reliably, and at almost no cost.
It’s been called “the next generation of crypto” by many experts in the blockchain space.
The team behind it has some serious credentials: Joyce Kim was formerly an associate professor at UC Berkeley where she co-founded the Blockchain at Berkeley research lab; David Mazieres was involved with ICANN’s management of domain names before developing technology for online voting systems; and Nicolas Barry helped create one of the first French websites on artificial intelligence while working as a researcher at INRIA (which is like France’s DARPA).
The token of the network is called XLM which has been increasing in popularity over recent months and seems to be on its way up currently as of 17th of May 2021 valued at $0.69 USD per coin.
Ethereum Classic (ETC):
The price of Ethereum Classic (ETC) has been soaring as traders have become more confident in the future of this digital currency.
Ethereum Classic is a decentralized platform that runs smart contracts on an immutable blockchain, meaning it can never be hacked or changed. This means all transactions are secure and verifiable by anyone with access to the network. Ethereum Classic has been around since July 2016 and was forked from the original Ethereum blockchain after the DAO hack in June 2016.
Ethereum Classic offers many benefits for users when compared to its sibling, Ethereum (ETH). The main difference is that while ETH requires users to pay for each transaction conducted through their network, ETC does not. This makes it much more affordable to use and will likely lead to wider adoption from businesses looking for a cost-effective way to conduct transactions.
One last benefit of Ethereum Classic is the larger block size. This means the network can process more transactions in a given time than Ethereum, which should lead to lower transaction prices over time.
In terms of trading, some investors are betting on ETH, while others may prefer ETC. But if you’re looking for a long-term crypto investment that promises both higher returns and lower transaction prices over time, then Ethereum Classic might be the way to go.
It’s also worth noting that unlike many other coins with only one specific use case (i.e., Bitcoin), Ethereum is versatile enough to provide smart contracts, create your own tokens, or even launch an ICO.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is the 10th most popular cryptocurrency in the world and is also considered more efficient than bitcoin.
Bitcoin Cash (BCH) has a faster transaction time, higher number of transactions per second, and lower fees compared to Bitcoin’s congestion issues
The BCH network can process about five times as many transactions as Bitcoin in the same amount of time with virtually no added cost
This makes Bitcoin Cash (BCH) an extremely attractive alternative for traders who are looking for an investment with low risk.
Are you interested in buying cryptocurrencies? Check out the Best Crypto Exchanges that can help you get started with Crypto Investing.
