Currently, Bitcoin is trading around $39,000 which means for your investment to double, the market cap has to increase by hundreds of billions. Obviously, altcoins are not this way. But, it’s really not easy to choose the right altcoin. In this article, we will go over the the top 5 altcoins to buy in 2022. Primarily, these top 5 altcoins are chosen for the long haul hence the low-risk nature.
Ask any crypto skeptic about their greatest concerns over the market and they will surely tell you the primary reason for their cynical view is simply the volatility. The meme wars on twitter and the absolute swarm of shitcoins in the market is also not helping. In a decentralized and low-regulated market, Investors need to feel safe about their investments.
- What Distinguishes the Top 5 Altcoins?
- Where to buy the top 5 altcoins
What Distinguishes the Top 5 Altcoins?
To begin with, an investor must look for the chief premise behind the cryptocurrency to invest in. There are questions to ask and certain information gaps to fill. In that case, we should look for certain qualities such as the infrastructure, the platform, the function and the possible progress in the future. Fortunately, the top 5 altcoins we are going to introduce are well-known for providing solid platforms with revolutionary technological inventions. Despite moving in different directions, all of them are highly progressive, especially when it comes to adoption of new technology. According to numerous analysts, these 5 altcoins are safe bets for the future:
Long and short of it, Ethereum is a decentralized blockchain platform. It is essentially a decentralized public ledger for verifying and recording transactions. However, it is considered as one of the largest and most diverse networks out there.
The open-source platform provides a plethora of services to millions of people without geographical restrictions. On the platform, users can create or share services such as business, financial or even entertainment. Therefore, we have an ecosystem where users can pay fees in form of crypto to use the services.
The native cryptocurrency of the platform is Ether (ETH). In terms of market value, it is second, standing only behind Bitcoin. ETH was a revolutionary currency since it managed to compensate for many of Bitcoin`s shortcomings. Problems such as, high gas fees, scalability and even the high transaction fees. However, day by day we see the Ethereum platform utilize revolutionary methods to make the ecosystem even more efficient.
Considering the progressive outlook and the impressive background, investing on ETH can be considered as a safe bet for the future.
And here we have a crowd favorite! The third generation of the blockchain platform that has a cult following. It was Founded by Charles Hoskinson, one of the main creators of Ethereum. The Cardano project not only was more efficient than the previous ones, it revolutionized the blockchain technology. The Cardano project is one of the leading pioneers of the proof of stake algorithm. As compared with the proof of work, it is vastly more efficient and eco-friendly. You can read a more extensive introduction in What is ADA.
ADA, the native token of the Cardano platform is currently the number 5 cryptocurrency by market cap. In terms of investments, as of August 3, 2021, there is more than $31 billion in the stake pools. A staggering number that is almost double of what ETH investors have staked.
The distinguishing element for ADA is that Cardano has a huge emphasis on scientific literature. Their progressive methods must be approved by academics all around the world. In a sense, they care equally for both quality and quantity of progress.
The rate at which Cardano is expanding is a testament to their forward thinking methods. With smart contracts, stablecoin “Djed” and many more additions coming to the platform, ADA is looking like a snack!
Officially launched in 2019, Algorand is a proof of stake blockchain network with great emphasis on scalability and speed. As on open-source and decentralized network, Algorand is not a new idea to begin with. However, where it proves to be different is the unique design that allows for faster consensus. With a two-tiered structure, this payment-focused network achieves amazing scalability.
Currently, Algorand network can process over 1000 transactions per second while transaction finality takes less than five seconds. At this point you might say that there are faster networks out there. Well, yes but actually no!
We’ve previously talked about the blockchain trilemma on this blog. Essentially, it is difficult and rare for a blockchain to offer security, speed and decentralization. For example, Solana network is one of the fastest ones out there but it is not that decentralized. In that regard, Algorand is maintaining all positive aspects of an ideal blockchain at once.
ALGO is currently 29th in the ranks with a market cap of $4.6 billion. You can buy ALGO on HiExchange.
And here we have yet another third generation blockchain network found by a previous Ethereum member. Initially, Gavin James Wood had a different vision in mind about the (PoS) algorithm. The final goal is to create an infrastructure to create a network of blockchains that are effortlessly communicating with each other.
The multiple blockchain approach provides a better cross-chain interoperability and easier communication. Gavin believes that a single blockchain network can never be complete and a multi-chain architecture will be much more efficient.
The DOT is the token for this multi-chain network. It is currently number 9 by market cap. With the first ICO in 2017, it managed to raise $145 million. Despite being relatively new, it has experienced a huge growth in popularity. DOT has had one of the most successful initial coin offerings in history, raising over 200 million in two ICOs, first one in 2017 and the other in 2020.
All in all, DOT is a solid choice for investment for three reasons: first, the infrastructure is solid and forward looking. Second, the tremendous success can be a testament of the potential for growth. Third, the network is in no way limited to one blockchain making the future technology implementations effortless.
At this point, we all know how blockchain technology can go far beyond a platform for cryptocurrencies. VeChain is a perfect example of a pragmatic blockchain network designed to increase efficiency in business.
The network utilizes distributed ledger technology (DLT) to streamline and manage supply chain complexities. Basically, the VeChain platform enhances supply chain management and business related processes and eases the flow of information. As a sophisticated data management network, it provides a mapped out view of an organization by managing all data.
In a conventional supply chain ecosystem, the data for business processes can be distributed in multiple silos. This can negatively affect business flow in the ecosystem which could ultimately decrease efficiency. VeChain network solves this issue by disintermediating information from all data silos.
VET is currently 42 in the ranks with a market cap of almost $3 billion. It is also one of the low risk altcoins with a good track record. You can also Buy VET on HiExchange.
You can Buy The Top 5 Altcoins on HiExchange
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