Which Altcoins to Buy Now? Check Out These 10 Coins!

The altcoin market has been moving sideways for a long time without the power of the bulls. Bitcoin’s gradual drop to $18,600 trapped every buying opportunity. Analysts now interpret current levels as the bottom, based on the December 2017 peak. If this opinion is correct, the following 10 coins will be the best ones to buy, according to analyst Tony Philip.

10 altcoin projects you should follow closely

Bitcoin (BTC)

Bitcoin is the forerunner of its alternatives, altcoins. It has a market cap of just over $350 billion in recent months. Bitcoin embraces the concept of scarcity. Its ability as a store of assets continues to attract real investors. The maximum Bitcoin supply is 21 million; other than that, about 19.15 million are essentially in circulation. Moreover, Bitcoin uses PoW system for the security of its funds. In particular, Bitcoin is not backed by any government authority. Nor does it have a central bank to facilitate its use.

In addition, many companies such as Visa and MasterCard allow the use of Bitcoin to facilitate payments. This increases the chances of adoption as more people shop using crypto. As a result of its growth, leading crypto is also gaining more institutional acceptance. Nasdaq (NDAQ), the second largest exchange operator in the US, announced that it will launch a crypto custody service in September 2022. Nasdaq’s goal is to capitalize on the growing demand for cryptocurrencies amid institutional investors. BlackRock, the world’s largest asset management firm, also announced in August that it will provide cryptocurrency services, including Bitcoin, to its institutional clients.

Investment giant Fidelity has also added Bitcoin to its exchange-traded funds (ETFs). At the same time, Bitcoin ETFs continue to rise.

Ethereum (ETH)

Ethereum is the largest cryptocurrency after Bitcoin. It is a contract platform established in July 2015 under the leadership of Vitalik Buterin. It attracts multiple developers due to its ability to support multiple use cases such as NFTs. Since its launch, Ethereum has witnessed a tremendous growth of 14,155% as of the beginning of September 2022. According to experts, it is far beyond multiple crypto projects and has only Bitcoin to beat in the crypto space.

Ethereum’s unique Blockchain technology puts it in the middle of the most affordable cryptocurrencies to buy now. For example, it allows developers to create their own cryptocurrencies and set up smart contracts using Blockchain. More importantly, analysts expect it to gain more traction as it successfully completes its “merge” upgrade on September 15, 2022, which sees the transition from Proof-of-Work to Proof-of-Stake (PoS) consensus mechanism. This upgrade aims to reduce the power consumption and gas prices of the network and make it more easily scalable one-on-one.

With these changes, Ethereum will attract investors looking for low gas prices. However, as a precaution, processes take longer to process on the Ethereum network due to heavy loading. Those who want to buy Ethereum should be aware that its security has also been a bit of a problem on the platform before. But the upgrade aims to make him more faithful.

Cardano (ADA)

Cardano is a Blockchain that uses the Proof-of-Stake consensus algorithm and features increased scalability. These features enable Cardano to power decentralized finance (DeFi) projects and NFTs. Blockchain can also be done in a variety of different areas, including the construction of dapps, gaming, voting, and access administration.

Launched in September 2021, Alonzo included smart contract capabilities, a valuable update for Cardano. With Alanzo, ADA is now capable of scaling and operating at greater speed than in the past. In addition to this capability, it enabled ADA to provide the developer community with a DeFi application development platform and advanced programmability.

The upgrade also included the ability to run smart contracts on the Cardano Blockchain. In particular, Plutus smart contracts facilitate robust, fast and reliable development of dApps. In addition, a second hard fork known as Vasil was released on September 22, 2022. This fork is expected to further increase the scalability of the network.

Finally, Cardano plans to set up a launchpad to help solve everyday challenges in Africa. If this plan achieves its objectives, your goals for the next ten years will go a valuable way.

Binance Coin (BNB)

Binance Coin (BNB) is the cryptocurrency that underpins the Binance ecosystem. It is a Binance Smart Chain (BSC) based cryptocurrency that complies with BEP-20 standards. In addition, it is the local token of the Binance crypto exchange, which it processes, as in many other exchanges and platforms. BNB provides users with cheaper costs and additional advantages to invest.

In 2017, when it was first released, BNB was worth only $0.10. On May 10, 2021, it broke a record with an all-time high of $690.93. Altcoin has proven to be a very useful cryptocurrency for the Binance ecosystem over the years. It’s not just the local cryptocurrency that exists in this thriving ecosystem. Their one-on-one usage has also increased significantly, for example BNB users can:

  • Earn rewards by staking on BSC.
  • Paying for goods and services with the Binance Card feature;
  • accepting and making payments on the Binance Shares service;
  • Request discounts on transaction prices in spot, margin and futures market processes.

Binance implements a token burning process for BNB in ​​systematic periods. In December 2021, the company started a three-month automatic burning process that allows for automatic calculations. However, one thing to know is that BNB is also vulnerable to regulatory issues. For example, in June 2022, BNB was dropped following an investigation by the SEC into whether Binance followed procedures during its first ICO in 2017.

Ripple (XRP)

The primary use case of XRP, a project of the Ripple company, is to build a Blockchain that facilitates cheaper and more convenient cross-border processes. The altcoin uses neither the PoW nor the PoS consensus mechanism. Instead, it uses validation servers that validate the requested changes in the final ledger. XRP uses central authority to determine who can set up a node or approve processes. This helps it process processes in the middle of multiple currencies instantly and attract more investors who are moving away from the legacy SWIFT network, which can cause delays.

XRP has fast process settlement as ledgers are produced every three to five seconds. Ripple says that the XRP ledger can usually process 1,500 processes per second (TPS). It also estimates that it can scale up to 65,000 TPS. In contrast, settlement rates of Bitcoin and Ethereum are 5 TPS and 15 TPS, respectively.

More importantly, while Ripple is still in a two-year lawsuit with the SEC, the company is confident that it will win. On the development side, it also collaborates with universities around the world to accelerate its network. For example, XRP Ledger is managed by more than 150 independent organizations, including universities and crypto exchanges. All in all, these developments are preparing a valuable price boost for XRP.

Polygon (MATIC)

Polygon is a cryptocurrency developed from the Ethereum network that aims to improve Ethereum scalability and infrastructure. It adopts the concept of “layer two” that extends Ethereum into a multi-chain network to streamline processes and approval times. Additionally, Polygon is highly reliable, highly scalable and interoperable. It provides robust user and developer experience with flexible and customizable frameworks. Every dApp at Polygon runs on a fully customizable technology stack with dedicated resources and independent governance.

Based on the Binance and Coinbase crypto exchanges, MATIC is used on platforms such as payment currency, prices and payment services. Due to its presence on the main crypto exchanges, it is able to reach many users. In July 2022, the altcoin released the zkEVM scalability solution to reduce process costs while increasing the process.

However, a number of large companies, including Meta and Stripe, are actually getting involved with the Polygon platform. Additionally, the altcoin project supports the Polygon Tether (USDT) stablecoin. Both are investing in carbon neutrality that will boost their future growth.

Decentraland (MANA)

Decentraland is an Ethereum-based virtual reality platform. It is the pioneer of the metaverse market with a market capitalization of over 1 billion dollars. MANA uses DAO technology as one of its most valuable features. DAO technology provides true decentralized governance where users have full control.

Over the past year, Decentraland has made millions of dollars from virtual land sales. These sales must be paid in MANA, the local currency of the platform. With more than 20,000 benefits since its official launch in February 2020, Decentraland is geared towards greater achievement. This makes it one of the smoothest cryptocurrencies to buy now.

Left (LEFT)

Solana, one of the advantages of the platform is a highly effective Blockchain with lower process prices that attracts more investors to the platform. Thanks to the Proof-of-Stake mechanism that increases the verification speed, SOL can perform 50,000 processes per second. In September 2022, Solana-based processes reached the 100 billion milestone. It also uses Proof of History, the optimized time tracking extension of the consensus algorithm.

Although it has stiff competition with Ethereum, Solana’s fast network and low prices have put it in the middle of the top 10 cryptocurrencies by market size. More importantly, the altcoin is quite different from Ethereum in how it stores and manipulates data. For example, it separates state data and executable code and puts them at different addresses.

Launched in 2020, the price of SOL had an impressive 4,000% benefit by November 2021. They are local assets used for the transfer of assets, particularly in Solana-based NFT markets including SOL, Solanart, Solsea and Margin Eden. SOL is used in the manufacture, sale and purchase of these NFTs. Finally, as a PoS network, Solana allows organizations to stake SOL tokens and run them to validator node operators or delegate stakeholder rights to validators for a reward.

Polkadot (DOT)

Polkadot is another relatively new crypto asset that is currently in the midst of the smoothest cryptos to buy, based on its interoperability and long-term prospects that can ensure a solid future. DOT also offers impressive technology that attracts more investors and users to the platform. For example, it runs on the Nominated Proof-of-Stake (NPoS) system, which allows all native tokens. For investors looking for a Blockchain platform that solves the interoperability bottleneck, increases scalability, and offers a multi-chain network, Polkadot is a solid offering.

Avalanche (AVAX)

Avalanche is a layer one Blockchain designed to enhance the underlying protocol and increase the scalability of the system. It consists of thousands of subnets that make up a diversified, interoperable network of several Blockchains. Avalanche is highly scalable and can handle up to 4,500 processes per second per subnet.

Initially launched as an Ethereum competitor, Avalanche adopts three other Blockchains that work independently to verify every process on the network. The platform is decentralized and allows tens of thousands of validators. It also has a strict latency that allows it to receive confirmations within three seconds, with multiple confirmations under one second. All processes are completely irreversible and irreversible.

Compared to the leading altcoin, Avalanche is more scalable and better suited for performing batch processes. This has increased its popularity amid Ethereum projects. Launched in 2020, the price of AVAX rose from $4.5 at launch to an all-time high of $146.22 in November 2021.

While Avalanche is a young project with not much history for comparison, it is gaining traction as the world’s fastest platform for smart contracts. Even in the bear market that took up most of 2022, AVAX has still nearly quadrupled since its launch.

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