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Some of these cryptocurrencies, or altcoins, are designed to handle more transactions than Bitcoin.
The top cryptocurrencies are attracting investors who are looking to diversify their portfolios. Several large tech and growing companies are accepting cryptocurrencies as payments. So, now would be a really good time to invest in cryptocurrencies based on your budget. Bitcoin has always been the center of attraction when it comes to cryptocurrencies. But at present, there are thousands of cryptocurrencies one can choose from. Some of these cryptocurrencies, or altcoins, are designed to handle more transactions than Bitcoin. Others are designed to protect user privacy or separate the process of finding the coins or “mining” them from the process of trading them. Still, others are designed to stand in for real currencies in international trade. Closer to reality, crypto traders are drawn to digital assets for a range of reasons: they can function as a store of value; they are a useful portfolio asset, and they can be used as a direct method of payment. This article features the top 10 Bitcoin alternatives with high-profit potential in 2022.
The first Bitcoin alternative on our list, Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith.
If you’re looking for which cryptocurrency to buy with a great use case, then Stellar is worth considering. Stellar is a distributed payments network operated through Stellar Lumens (XLM), the network’s native crypto. The network allows fast payments to be sent anywhere globally with low fees – regardless of the currency.
Aave is considered by numerous analysts to be the best new cryptocurrency to buy within the Defi space, as this protocol allows users to lend and borrow cryptocurrencies with ease. Through the use of ‘liquidity pools, which are operated via smart contracts, Aave automatically sets interest rates and collateral ratios.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon successfully transforms Ethereum into a full-fledged multi-chain system, along with ETH’s security, vibrant ecosystem, and openness.
Dogecoin, one of the biggest rivals of Shiba Inu, is also a top preference for investment for tech king Elon Musk. Quite similar to Shiba Inu, even DOGE originated out of a meme and face several criticisms from investors. But ultimately, it won the hearts of the investors after it showed its true potential in 2021. Even though Dogecoin plummeted quite a lot over the past couple of months, experts are quite sure that the crypto will jump to the expectations of the investors quite soon.
Cardano is a proof-of-stake blockchain platform and is also an open-source project that aims to redistribute power from unaccountable structures to marginalized individuals. It is a research-based cryptocurrency built by engineers, mathematicians, and cryptography experts.
Litecoin updates its blockchain more often than Bitcoin, and its Scrypt algorithm allows for mining on ordinary PCs rather than the expensive graphics systems required for Bitcoin. The Litecoin puzzle also has 84 million possible answers – four times that of Bitcoin. Litecoin’s price tends to mirror that of Bitcoin. In December, Lee wrote that he had “sold and donated” his holdings in Litecoin to avoid a conflict of interest. Litecoin prices fell in response – and the cryptocurrency has fallen even further alongside most of its brethren.
Avalanche, along with Solana, is another example of a crypto that has a clear purpose, as opposed to meme coins like Dogecoin, which have no purpose at all. Avalanche is one of the many projects seeking to “unseat Ethereum,” as one of the most widely used blockchain platforms, according to the cryptocurrency exchange Gemini.
USD Coin (USDC) describes itself as “the world’s digital dollar.” Created by a global financial firm called Circle, USDC is the result of work that has been invested in by Goldman Sachs, Baidu, and IDG Capital, among others. USD Coin is tied to the U.S. Dollar, which makes its price much more stable than other cryptocurrencies.
Fantom is a fast, high-throughput open-source smart contract platform for digital assets and dApps (or decentralized applications). According to its website, there are 80+ apps that have already been deployed on Fantom ranging from DEXes, cross-chain bridges, lending and borrowing, and yield optimizers to NFT platforms, tools, and wallets.