Cryptocurrency investments are by far the most profitable investments in the financial market. But along with such profitability, there are several risks. That is why it is necessary to choose crypto assets for investment with extreme caution. In this article, we will analyze in detail which cryptocurrencies are worth investing in and, most importantly, why.
It would be strange not to mention the king of the cryptocurrency market. The project was released back in 2009, and since then, its capitalization has been growing by leaps and bounds. Bitcoin remains the leader and guide of the market because every trader knows that if the price of BTC has fallen, then all cryptocurrencies fall next. To date, Bitcoin is the most popular means of payment trusted by millions of people worldwide. Bitcoin is accepted for payment by such global corporations as Microsoft, Google, Overstock, and others. And since the demand for cryptocurrency is growing, the price will rise accordingly.
Do not ignore the second-largest cryptocurrency by capitalization. Ethereum was launched in 2015 and became the most innovative project at that time. To date, the platform is very popular among developers. Such well-known projects as Decentraland, CryptoKitties, MakerDAO, and many others have been launched on the Ethereum blockchain. Such demand makes Ethereum a truly reliable asset. In addition, one of the catalysts for the growth of the ETH price is the transition from PoW to PoS consensus algorithm. After this update, Ethereum will work even faster, more reliable, cost-effective, and more environmentally friendly.
Cardano is a decentralized blockchain system conceived as an alternative to Ethereum, but faster, more scalable, and more secure. Furthermore, Cardano is the first cryptocurrency based on a scientific approach (there are many engineers and scientists in the development team). The development of the Cardano project is divided into five stages. So in March 2021, the third stage was activated, after which work with smart contracts became available within the project, which made the project even more attractive and in demand. In addition, Cardano, unlike its rival, already operates on a PoS algorithm. To date, developers are focused on the final two stages, the implementation of which will make Cardano one of the most advanced projects on the market.
BNB is a token of the most famous and popular crypto exchange Binance. To date, the cryptocurrency is in the top 5 by market capitalization. Over the past year, the token has shown incredible growth. Binance is not just an exchange but a whole ecosystem in which everyone will find what they need: trading, passive earnings, decentralized applications, and much more. The BNB token is the fuel of the project, so the demand for cryptocurrency will grow as the platform itself develops.
Uniswap is one of the largest exchanges in the field of decentralized finance (DeFi). The Uniswap exchange functions as a fully automatic market-maker based on the Ethereum blockchain. It allows DeFi users to exchange any ERC-20 tokens without intermediaries, solving a massive part of the liquidity problems most decentralized exchanges face. The fact that the exchange is the most popular DEX on the market suggests that UNI is an asset with excellent prospects. In addition, the DeFi sector is by far the most prosperous industry now.
Polkadot is a network that connects blockchains into a single space that allows for fast and secure processing and exchange of data from various blockchains. It is like a translator who helps everyone to speak the same language.
Polkadot has solid foundations. It has an experienced management team and a broad and dedicated developer community. Most importantly, Polkadot technology can solve a key cryptographic problem: compatibility. As a result, Polkadot not only increases its status in the field of decentralized finance but is also established as one of the most popular cryptocurrencies.
Chainlink is a decentralized oracle network that provides secure interaction for millions of users. The Ethereum-based network connects real-world data and smart contracts on the blockchain. An essential advantage of Chainlink is that the system is entirely decentralized. Since the beginning of its foundation, the project has been actively developing, acquiring partners, and integrating into the decentralized finance sector. The development team is building ambitious plans to expand the Chainlink ecosystem and attract large partners, which in fact, can increase the price of LINK.
IOTA is a cryptocurrency platform that makes a considerable contribution to the Internet of Things development. In modern production, this is the technology by which various household items, starting with televisions and ending with furniture, can exchange information.
The Internet of Things is a trendy technology today. However, this technology did not have a successfully implemented “communication” protocol. And it was IOTA that became the project solving this problem. Many analysts predict that by the end of 2022, more than 1 billion devices will be involved in the Internet of Things scheme, which means that the prospects for IOTA in the cryptocurrency market are extremely positive.
VeChain is a blockchain platform designed to improve the control of supplies and business processes. The technology involves digitizing product labeling and storing data in the blockchain network. The goal is to improve processes for complex supply chains and allow market participants to work transparently. In 2021, the supply chain industry suffered significantly, and it is a project like VeChain that can help it to revive. The project already has a good reputation and provides advantages such as cost-effectiveness, transparency, and traceability. VeChain has occupied its niche and is actively improving in it, which makes VET an excellent investment.
Algorand is a cryptocurrency that has three key principles: the highest level of security, decentralization, and scalability. Furthermore, Algorand operates on the basis of a Pure Proof Stake consensus mechanism, which makes it the most environmentally friendly project on the market. Since eco-friendliness is one of the most important criteria for success today, we can say with confidence that ALGO will become one of the most popular cryptos. Coins and tokens such as ALGO, which were created from the beginning to ensure sustainability and environmental friendliness, have an advantage over cryptocurrencies such as Ethereum, which are forced to change according to new standards.
Shiba Inu is a meme coin created on the Ethereum blockchain; in 2021, its price increased thanks to a unique ecosystem and a robust community. Furthermore, in 2021, the founder of Shiba Inu Ryoshi announced that Shiba Inu was waiting for mass burning, which was positive news for investors. This step will prepare the network for the implementation of a significant project. Namely, The Shiba Inu Core Devs team is working on the creation of the Shiba Inu metaverse, which is called Oshiverse. This is great news that will add even more credibility and attractiveness to the project.
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The crypto market today is overflowing with cryptocurrencies that have the potential to grow. In this article, we have selected ten cryptocurrencies whose price is likely to soar. The selection took place after a thorough study of the project, its mission, upcoming updates, and other crucial factors. However, when investing in cryptocurrency, it is worth keeping in mind the possible risks. Therefore, we recommend conducting your own analysis, trusting only reputable sources, and also competently approach the diversification of your crypto portfolio.
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