What Is the Best Altcoin?
Crypto is a market that has grown massively in recent years, largely thanks to the prominence of Bitcoin, but there are many other coins that you should be aware of. These coins, called altcoins, are well worth looking into as they have a lot of potential, especially when compared with the more popular coins, which have recently stabilised in price.
In this article, we'll be looking at which altcoin is the best and why it might make for a smart investment. These altcoins can be traded on almost any cryptocurrency exchange and should be thoroughly researched before you invest.
You Absolutely Need to Invest in Ethereum (ETH)
Ethereum is a decentralised coin and platform that runs digital contracts and can even be used to pay for goods and services. These contracts can be used to create decentralised applications, which look set to become more popular with the rollout of the Web3 initiative. Ethereum is regarded by many as a good investment as it has a broad range of use cases and is widely supported by users and developers alike
What makes Ethereum so useful is that it supports decentralised applications (dApps), which don't suffer from the same downtime and interference issues as many other applications, as well as having greater fraud and security measures. This makes it an attractive proposition for companies looking to create a community that is easily manageable and largely secure.
Although Ethereum is not yet where the developers want it to be, the end goal is to have a coin that can be easily accessed and a platform that is accessible from anywhere in the world, regardless of where a user might be located and the obstacles that would usually prevent participation. The team behind Ethereum have made huge strides in recent years, but they'll be the first to admit that they have plenty more work to do.
Ethereum is seen by many as being a coin that can be utilised in countries and regions that lack the usual infrastructure necessary for safe trading and online activity. It provides the opportunity for many to get involved in online trading and financial activities, even though they may not have access to many of the tools that others have, including bank accounts and ID-backed services.
A recent development in 2022 saw the Ethereum network complete its highly anticipated and long-awaited transition to the proof-of-stake (PoS) validation method. What this means is that the Ethereum blockchain is now a lot more efficient and able to operate at a higher level, boosting scalability and therefore increasing how attractive of an investment it is to many traders and developers.
What Other Altcoins Should You Be Aware of?
Here we’ve listed some of the other altcoins that you should be aware of which could one day prove to be even better investments than Ethereum.
Tether (USDT)
Although not the most exciting of altcoins, Tether is tied to the US Dollar and so enjoys much of the stability that the dollar does, proving to be an excellent store of value for those in between trades and looking for somewhere safe to store their funds. Although your investment in Tether won't make you rich anytime soon, it's still definitely an altcoin worth looking into as a safer alternative.
Ripple (XRP)
Another one of the big boys in the crypto world, Ripple has been around for a while but has yet to reach the heights that many expect it to reach. It has plenty of real-world uses too, though one of the central aims of the developers was to increase the speed and lower the cost of international payments, which at the moment can be prohibitively slow and expensive. It has tons of potential, and is worth following.
EOS (EOS)
Seen by many as being one of the best among the rest, EOS looks set for a big future in the upcoming metaverse move with one of its design tenets being the ability to run online gaming applications. The EOS platform uses a new technology called “delegated proof-of-stake” (DPoS), which enables it to run even faster than most platforms, including many of the larger coins, highlighting its immense value.
Cardano (ADA)
Cardano is an interesting platform which has the potential to grow massively in the future, often teasing a breakthrough moment. It's only been around for a short while, but it’s increasing in terms of market capitalisation, although it doesn't yet have enough real-world usage to challenge some of the more established cryptocurrency coins and online platforms. This is definitely one to watch, though.
Neo (NEO)
Neo is a decentralised platform that supports online contracts and digital assets. Neo uses delegated Byzantine Fault Tolerance (dBFT), which makes it much faster than other similar platforms, as well as being hugely accessible for developers and users alike. It has emerged as one of the leading altcoins in recent years, and its recent price recovery shows promising signs of resilience.
