In the digital market, there are thousands of cryptocurrencies to explore and just as many opportunities to embrace. The crypto world is often associated with the most popular coin of all time, Bitcoin. In fact, BTC was the first cryptocurrency in the world, and since its launch in 2009, it has experienced considerable growth. However, you should know that to become a committed investor and ensure high returns, it’s crucial to create a balanced portfolio and diversify your choices. So, in order to achieve that, you should consider altcoins, which are some cryptocurrencies other than Bitcoin. For example, the first altcoin that took over the world with an innovative concept that web3 has never seen before is Ethereum, which brought incredible opportunities in the market thanks to its programmable blockchain. Inspired by the success of ETH, other coins entered the market as well, such as Toncoin, Solana, XRP, Dogecoin, and Tron, that promise great outcomes in the near future. So, if you are willing to experience the power of altcoins, in this article, you can find 7 cryptocurrencies to consider this year:
Toncoin
Toncoin can be described as an open network for everyone. The open-source platform is designed by the popular platform Telegram, and since its launch in 2020, its popularity has increased constantly. The widespread adoption of the coin has pushed the barriers of the blockchain, and now, TON aims to improve the capabilities of the network and provide users with increased scalability, enhanced security, speed, efficiency, and low fees. The network relies on a proof-of-stake mechanism, which is a green alternative to other systems and strengthens the decentralization model. So, if you want to embrace the currency, you can check the Toncoin price to identify the best opportunities for you.
Ethereum
Ethereum is the world’s first programmable blockchain. The coin was launched in 2015, reshaping the future of blockchain technologies. Nowadays, it ranks second at the top of cryptocurrencies, and it hosts a broad range of decentralized applications, including decentralized financial services that promote inclusion and games, and it has a wide market of NFTs. Like TON, the currency relies on a PoS mechanism, putting a green label on the network. ETH is adopted in the business landscape by companies who want to innovate their brand, so they have the opportunity to globalize their name, access a broad audience, and embrace the latest technologies to make the most of their activities.
Solana
Solana is known for being an alternative to Ethereum, or even its biggest rival in the altcoins world. SOL follows the eth model, and its programmable nature offers the same opportunities, providing users with various decentralized applications. However, many experts believe that SOL surpasses Ethereum in terms of scalability and speed, so the network could become even greater than ETH. Solana combines proof-of-stake with a proof-of-history mechanism, which enhances security significantly, focusing on the protection of the network and maintaining the privacy of users.
XRP
XRP is a coin that focuses on serving the needs of institutions and banks, encouraging them to enter the network and benefit from incredible speed, reliability, transparency, and more. XRP has created a payment system that became outstanding in the web3, and the institutional involvement in the technology votes on its trustworthiness and provides the blockchain with a clear regulatory framework. Ripple relies on a consensus mechanism, and this kind of approach helps XRP process over 1500 transactions per second. The currency addresses the issues of traditional finance, providing users with increased speed and transparency, which are both aspects that traditional banks often lack.
Dogecoin
Dogecoin is the first meme coin in the world. The currency has immediately grabbed the attention of investors thanks to its funny nature, as it’s inspired by the viral Shiba Inu meme. It was designed to poke at the success of Bitcoin and with the intention of making a light-hearted joke to the crypto community. However, even if the joke was welcomed by crypto enthusiasts, investors also saw the potential in the blockchain, so they decided to give it a chance. The coin has seen a growth of 10.000% in the first month, and it inspired the surge of other meme coins, building a successful new market.
Tron
Tron is designed to host decentralized applications, enabling developers to hop on the latest tech trends to make a profit and offering users the opportunity to experience the power of programmability. The main goal of the blockchain is to become a distributed virtual machine for the development of dApps, aiming to surpass its rivals in matters of programmability. Tron uses a proof-of-stake mechanism, and it also provides users with incentives, named Bandwidth, that act like points for their activities in the network. Usually, investors receive points based on the amount of coins they stake into the blockchain, embracing a HODL strategy for long-term investment.
Binance coin
Binance coin was designed to pay fees and be traded on the Binance exchange. The currency ranks as one of the most popular cryptocurrencies thanks to its adoption for various platforms, such as booking and traveling applications, online services, entertainment, and even various financial services. To maintain a deflationary model, BNB burns one-fifth of the total supply every quarter. The popularity of the coin for real-world use cases is one of the main aspects that drive its success, and it pushes the limits of the blockchain to further innovations and improvements that promise great outcomes in the near future.
The bottom line
Becoming outstanding in the crypto market is not easy because competition is tough, but all the altcoins we presented above prove how innovative concepts can completely reshape the web3. So, if you are willing to start your digital journey, we hope this article inspires you to create a balanced portfolio and embrace the best opportunities to gain high returns. Making the right choice in the crypto market can help you get a few steps closer to financial independence.
