Talk about cryptocurrencies and chances are that your discussion would mostly start and end with Bitcoin. With Bitcoin being the first-ever crypto launched in 2009, it’s no surprise. It has not just set trends for the entire crypto market but also the performance of other altcoins.
But did you know that there are more than 11,000 altcoins in existence! And all with their unique features and benefits. So, how do you expand your crypto portfolio beyond Bitcoin and generate good returns with the new emerging currencies?
Here, we have explored the top cryptocurrencies that deserve your attention. Read on to find the best digital currencies that you can invest in the coming year.
- Dogecoin (DOGE): What started as a meme token, is not a laughing matter anymore! Launched in 2021 as a joke on how wildly speculative the cryptocurrency markets were, Dogecoin has steadily grown in terms of its market capitalisation. It is now the 11th largest crypto in the world with a market cap of almost $21.7 billion. Its pricing is at a low currently, which means that you can invest in it at economical prices and gain when the markets pick up again. You can know Dogecoin price INR
- Cardano (ADA): This is the first crypto to have been founded on peer-review research. Its founders, including researchers, cryptography experts, and mathematicians, have used an evidence-based approach to create this currency. Often dubbed as the ‘Ethereum killer’, because of the technical capacity of its blockchain to do much more than just transact in digital currency. For some time, it was the third-largest currency after Bitcoin and Ethereum and had a market cap of almost $100 billion. In the coming year, it is poised to scale up through non-fungible tokens and improvements in its metaverse.
- Luckyblock: One of the most exciting and promising currencies to hit the market is Luckyblock. This is an online lottery company that uses blockchain to allow fair play between the participants. There are no geographical restrictions on the players and they can participate from anywhere in the world. Since it uses smart contact technology, its games are 100% random, making them completely credible. Luckyblock will soon list on exchanges such as Binance.
- Ripple: Ripple is a platform that uses technology for enabling faster transactions between financial institutions. It also works as a tool for settling remittances and an asset exchange. Its digital currency is known as XRP or simply Ripple. This currency is used to allow quick conversions between different currencies. Currently, its market capitalisation stands around $10 billion and is poised to grow even more. It is amongst the most sought after cryptos for long term investment. Check the Ripple price INR before investing.
- Ethereum (ETH): Ethereum is a powerful blockchain technology-powered platform that is amongst the world’s most popular contract platforms that supports gaming, applications, and global remittances. The native currency of this platform is known as Ether or Ethereum. The currency has been growing steadily and is touted as the second-largest currency in the world after Bitcoin. Just last year, its market capitalisation stood at $250 billion and is one of the most credible currencies to invest in this year.
These are the topmost promising cryptocurrencies that will be worth your investment in the coming year. While these are undoubtedly promising, you must be mindful of the volatile nature of the crypto market and how quickly things change. We advise you to be mindful of your financial capacity and risk-taking appetite before you part with your monies and invest in any of these currencies. You can consult a qualified professional before finalising any investment.