You have heard about Bitcoins but wonder what Altcoins are? How they word? How are they different from their big brother i.e. Bitcoin and how can they get you more from the financial market? Altcoins are also cryptocurrencies but they are best known as an alternative to Bitcoin. Many experts call them 2nd generation of cryptocurrencies.
There are many Altcoins which are considered as best investment option in the year 2022. So, we have curated a list of the top 7 Altcoins that you should watch out for. Have a look –
1. Polygon (MATIC)
Polygon is the best bet for solving the scalability issues faced by Ethereum Blockchain. If you want to start accumulating Polygon Matic coins, the best strategy to invest in Polygon is to buy the dip whenever the Fear and Greed Index is in the extreme fear stage.
2. Algorand (ALGO)
Algorand’s model is not the only reason for considering investing in it, but also the fact that it plays into people’s sentiment. With huge proponents of preserving the climate, Algorand has a sentimental edge as it has achieved Carbon negative status, unlike Bitcoin.
3. Avalanche (AVAX)
Avalanche would be a stellar investment considering the surge in dApp projects which ticks developers’ criteria of a low-cost, scalable blockchain.
4. Polkadot (DOT)
It is one of the most promising multi-chain platform and very user and developer-friendly. Polkadot is also preferred over the likes of Ethereum because they need not have to create its own security measures.
5. Stellar Lumens (XLM)
Stellar network’s main objective is to cement the cracks that persist between the centralized finance world and the crypto world. To make that a reality, it has to connect laymen, financial institutions, and payment systems, and Stellar is doing just that.
6. FTX Token (FTT)
FTX is a centralized crypto exchange that offers a lot of facilities under one roof. By far, this is one of the tokens with the most utility. Owning the FTT token can reduce your trading fee by 3%-60% based on the quantity you own. You can also use it as collateral against futures, and earn interest by staking.
7. Hedera (HBAR)
Hedera has been utilized for various projects in sectors like finance, retail, healthcare, logistics, and agriculture to name a few. Tech giants like IBM, Google, and Boeing Co. have already partnered with Hedera. The growth potential is massive, and who wouldn’t want to invest in patented technology such as this.