Cryptocurrencies continue to improve as well as to innovate the world of finance. Blockchain technology, which is the system behind most cryptocurrencies like Bitcoin, is now being innovated and further developed by developers. Thus, the creation of more altcoins (alternative coin, term used for all other cryptocurrencies aside from Bitcoin). Bitcoins blockchain technology is now becoming obsolete. Many experts even dared to say that Bitcoins will be overvalued by altcoins soon due to its slowly becoming obsolete blockchain technology.
For this reason, researching and looking into altcoins with better potential is now a must since as a crypto trader there is a need to prepare yourself in the future and to avoid or at least lessen possible losses that might happen in due time.
Since, there are altcoins in there in the mix of thousands of cryptocurrencies which could equate to new and improved blockchain networks, thus more potential value in the future.
This is why if you are interested in cryptocurrency trades, you should also look to expand your crypto portfolio by adding a few more altcoins that hold good potential value in the crypto market. This can possibly secure you with better profits in the near future as you ensure balance in your portfolio. Buying and exchanging altcoins happens on trading platforms such as the Bitcoin Loophole website.
This article will guide you through three altcoins you should consider investing in, for they have good potential value and could possibly provide you with better trade opportunities and profit gains in the future.
Celo is a blockchain technology that innovated its blockchain technology features to provide access to a user-friendly crypto experience to anyone who has smartphones. Its aim is to provide its users with ease of remittance from their digital wallets from one phone number to another without using the computer.
Its other features include peer-to-peer trades of digital apps, crypto as well as lending crypto, and more using its users’ digital wallets. Furthermore, its surge in value, which accounts for more than 200% of its first market value, soared in November 2021, is mainly because of its project on Optics Smart Contracts which aims to interconnect other blockchains to its technology thus, there is better access for DeFi applications and its developers.
The Celo network does not just offer one kind of crypto; the platform has different cryptos for different functions, features, and benefits. First, Celo (CGLD)’s market price is at $5 and is Celo’s official token. This is primarily used for governance across the platform. It allows its users to vote for projects being developed on the platform. There are also stablecoins in Celo, and these are Celo Dollar (cUSD) and Celo Euro (cEUR), which are backed up by US Dollar and Euro, respectively. These two stablecoins are used for cost-efficient value transfers from the user’s mobile device to anyone in the world.
Chainlink is a decentralised network developed by Sergey Nazarov and Steve Ellis. This network utilises its oracle networks which work to provide its blockchain with real-world data and connect it with their network. Blockchains outside Chainlinks are unable to create connections to outside application data in a secure and trusted manner. However, this is possible through Chainlink’s innovation of its oracle network, thus bridging the gap between its blockchain data and real-world data.
This is possible through executing data from outside networks then providing a secure and trusted contract once the condition set by the user is met. Take this as an example, monitoring water supplies for pollution or even illegal siphoning in different cities then executing a command to send flood warnings, to execute fines to every violation of companies, as well as send a summary of violators are all possible through using the incoming data from the Chainlink’s oracle network.
Chainlink’s project’s potential to solve global problems is what makes it worth investing in since these kinds of solutions are very much needed even in the future. Experts say that if Chainlink continues as it is now with its potential to grow in value, Chainlink is expected to have an additional 380% revenue in the next five years.
Stellar is under the Stellar Development Foundation, founded by Jed McCaleb, one of the founders of Ripple Labs and developer of Ripple protocols. Stellar is very much similar to Ripple Labs, which aims to ease transactions involving multiple cryptocurrencies. However, its definite difference is that Stellar is non-profit, aimed at individuals, not institutions, unlike Ripple.
We can say that Stellar is at the highest form of being decentralised, for it is run by a peer-to-peer network rather than being owned by anyone, though it is supported by the non-profit foundation.
Stellar uses an open-source blockchain network that targets financial transactions to be faster and easier, even across border transactions. Through the Stellar network, financial transactions which take days to complete with much more cost can now be done immediately with lesser cost and is open and available to multiple types of fiat currencies and cryptocurrencies.
Stellar keeps the average transaction cost to a millionth of a US Dollar cent, which is a huge difference as compared to other forms of remittance done through the traditional means like the bank, remittance centres, and cash apps, even some other cryptocurrency apps, and platforms.
Stellar keeps the interest of its users and investors due to its affordability and potential growth. Stellar is currently at $0.35 and is expecting a potential market growth of $1.53 in the next five years.
These three altcoins listed here do have the benefits mentioned earlier. These facts cannot be ignored though it is still not exempt from risks, for any kind of investment has its own set of risks, especially in volatile crypto markets. Thus, knowledge is still crucial when entering investment of any kind, especially if you want better profit gains and lesser investment risks as much as possible. If you want to diversify your portfolio, research more about other cryptocurrencies and find out which best fits your portfolio to ensure it keeps its balance.