On 31 October 2008, Satoshi Nakamoto (a mysterious and pseudonymous person or persons) published a manifesto titled ”Bitcoin: A Peer-to-Peer Electronic Cash System” on bitcoin.org and the financial market has never been the same again after that night.
This manifesto opened a new era, a philosophy of libertarianism and decentralization.
Instead of IBAN numbers and intermediaries, Bitcoin is transferred on the peer-to-peer network, Blockchain. This was a revolution for finances that we were used to. Just like every new arrivals, naturally, crypto coins were criticized and brought up against arbitrary bias by superior authorities such as banks, ministries of economy and conservative investors at first. It was seen as a ponzi scheme that investors’ assets would melt away soon or later. Against all the odds and obstacles, Bitcoin and cryptocurrencies irreversibly alternated into something people crave for…
To be invisible in an ecosystem where every single move blinks just like a caution lamp.
An idea of anonymity!
Today, after 13 years, cryptocurrencies have become a tremendous industry and succeed to attract a lot of retail investors’ attention away from the traditional assets. Another reason for this demand is the volatility of the cryptocurrency market. The value of cryptocurrencies pass through depreciation and appreciation called bubbles and busts. You may think it is risky but these odds can be very advantageous if you are a top gun taking the pulse of the market and feel the aftershocks.
In this enormous ocean of altcoins and tokens, it is not simple to find one to pick up and invest in. However, according to the market analysts and developer communities, there are crypto coins with brighter future and functionality for the current ecosystem.
We have listed the most promising cryptocurrencies painting a rosier picture for their investors.
Ethereum (ETH)
”The gold of the digital currencies is Bitcoin and the fuel is Ethereum.” says Tyler Winklevoss, co-founder of Gemini.
Being the second largest volume in the market cap after Bitcoin, Ethereum is all-time-winner. It stands on a solid and forceful technology which creates a pillar in the blockchain. Although Ethereum transaction fees are the Achilles heel of Ethereum protocol and the currency has been criticized for environmental resistance for tremendous electricity consumption in mining, Ethereum is leading the attention of crypto investors with its unplaceable seat in Blockchain and its glorious background.
Tether (USDT)
As an open source, peer-to-peer blockchain system and the most attractive stablecoins in the sector, Tether is backed up with US dollars. Therefore, you may protect your belongings against the price volatility. The prodigious stability of Tether makes it a great medium for smooth exchanges and it has managed to fill the gap between fiat currencies and cryptocurrencies so far. Being pegged against the US dollar, Tether preserves the 1 to 1 ratio in terms of price. If you are into cryptocurrencies but feeling uneasy about high volatility in the market, Tether can be a good alternative for your position.
Cardano (ADA)
Cardano is a third-generation blockchain mechanism focusing on smart contracts, decentralized apps, sidechains, multipart calculations and metadata. In recent years, Cardano supporters underline that Cardano can rise against Ethereum as a future competitor on the smart contract-arena. Considering pricey Ethereum transaction fees and exhausting transaction duration, Cardano intends to defeat it by its lightweight design. Therefore, statistically, most of the Ethereum admirers also invest in ADA. Plus, IOHK, the developer company of Cardano decided to utilize Cardano’s blockchain technology to renovate Ethiopia’s current education system. If the tamper-proof system for recording data linking millions of Ethiopian students across 3,500 schools succeeds, this real-world application aspect will be a booster in trust and belief for Cardano.
Dogecoin (DOGE)
Indisputably, Dogecoin has been the cryptocurrency which was exposed to the most speculations and rapid changes in 2021. The coin was obviously manipulated by Tesla CEO, Elon Musk via praising the name of the digital token to his 52 million Twitter followers. If you want to play risky and profit from sudden ups and downs, Dogecoin can be the one you are looking for. However, we want to underline that popularity and reliability don’t always go hand in hand. Our conservative view is not to place any money that you aren’t prepared to lose thoroughly.
Binance Coin (BNB)
Launched in 2017 by the world’s most prestigious cryptocurrency exchange, Binance Coin took a successful rally in 2021 and also attracted the attention of multiple investors. BNB can be used to pay transaction fees on the Binance exchange or to simply trade with other crypto currencies in the exchange. Are you already a trader in Binance exchange? Purchase a small amount and see how it works.
NFT (Non-Fungible Token)
NFT can be easily defined as a unit of data in a blockchain. What differs it from others is the representation as a unique and interchangeable digital item. NFTs can represent digital files similar to art, audio, video, elements in video games, and other forms of creative work. While these digital files themselves can be endlessly re-copied, the NFTs that represent them are tracked on underlying blockchains and provide buyers with proof of ownership. The growing interest in the market for NFTs has led to increased speculation as the same investors started buying and selling NFTs in massively increasing volumes. Would you like to possess creative work just like an art collector? Why not to have a NFT?
Cryptocurrencies could potentially be the future of financial transactions. Considering the increase in participation from institutional players, it can be the right time to place altcoins and tokens into your investment portfolio. You can also browse through our article, “Top 10 Blockchain Influencers You Should Follow” to monitor the assessments of leading actors who mainly direct the cryptocurrency market and can view the whole picture much better than us.
