Cryptocurrency is the biggest thing to invest in right now and this is due to the high return on investment. Lots of people trade in cryptocurrency and lots more are doing transactions with it. The benefit of this digital currency cannot be overemphasized as it allows users transact business without visiting the bank.
The oldest cryptocurrency which is the popular bitcoin has been in existence for over a decade now and its popularity has continue to grow. Bitcoin is very popular and the biggest digital currency in the market right now. While it has lots of investors and traders dealing with it and getting huge reward, there are other digital currencies that is considered the next big thing investors should be looking out for.
Today we will be looking at the next big cryptocurrency you should consider investing in. These currencies have high value and if you trade properly you will get high reward. The market capitalization and price of these currencies make them a great investment choice.
If you are very familiar with cryptocurrency you will know that there is volatility when it comes to the market price. One minute a currency can be high the next minute it will depreciate greatly. This is seen regularly with bitcoin and other currencies have also suffered this fall.
It is important you invest in a cryptocurrency that would cost you less risk and give you great interest for your investment. The less volatile the price, the better for the crypto’s value to remain stable. You also have to consider speed and supply when trading in a particular crypto. What we will be showing you today are crypto currencies you should be looking out for when trading.
While there are lots of cryptocurrency springing up everyday and over 6000 in existence at present these currencies in our list are known to be the best choice when it comes to buying and trading. They are the next big cryptocurrency asides Bitcoin you should consider investing in.
What Is The Next Big Cryptocurrency To Invest In
Aside Bitcoin (BTC) which is a popular and most traded cryptocurrency the other currencies in our list as regarded as the next big cryptocurrency you should be looking at.
1. Binance Coin (BNB)
Binance Coin is one of the most successful crypto exchanges globally that is when you talk about volumes. It was initially created to facilitate trade on Binance Exchange platform but it has now grown to be used to make travel payments, financial services, and entertainment, among others.
The Binance Exchange was launched in 2017 by Changpeng Zhao and is one of the most widely used exchanges in the world. One of its strength is that Binance Coin keeps a hard limit on the number of tokens in circulation. It has a strict maximum limit of 200 million BNB tokens. This has resulted in an exponential rise in the token price
Binance makes use of one-fifth of its profit every quarter to burn BNB token. Their reason for doing this is to increase the value of the remaining tokens. Due to the versatile use of the coin it has great value when traded with.
This cryptocurrency uses a a proof-of-stake consensus model network. It can be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. As of September 2021, Binance Coin has a $71 billion market capitalization. In October 2021 one BNB is valued at $474 .
2. Ethereum (ETH)
Ethereum whose cryptocurrency is called Ether is a decentralized blockchain-based software platform. Its platform enables smart contracts and decentralized applications (dapps) to be built and run without any downtime, fraud, control, or interference from a third party.
It is the world’s second-largest cryptocurrency trailing behind Bitcoin with a large margin. Ethereum was created to enable decentralized suite of financial products that anyone in the world can freely access, regardless of background. its platform-specific cryptographic token is Ether which is used by developers looking to run an application inside Ethereum and investors looking to purchase other digital currencies using Ether.
Ethereum uses proof of stake algorithm which allow Ethereum’s network to run itself with far less energy and improved transaction speed as well as to make for a more deflationary economic environment. Recently it introduced an upgrade to the system which comprises of a reduction in the supply of Ether.
The upgrade also includes Ethereum network handling more transactions per second, improving scalability, and bringing down transaction fees. It is also expected that the number of ether coins in circulation will decrease. This reduction will increase the value of Ether transaction.
3. Monero (XMR)
Monero has gained popularity recently due to how its system is patterned. It is a a secure, private, and untraceable currency. It was launched with a strong focus on decentralization and scalability. Monero uses special technique called Ring signatures and stealth addresses which helps in accomplishing this task.
These techniques help in hiding the identity of the sender and the receiver. This feature has helped pushed the price of this cryptocurrency. It is has made it more desirables for investors. If you are one that likes to be anonymous, this privacy-focused Monero should be your top choice.
It is an open source cryptocurrency and its developement is completely donation-based and community-driven. The market capitalization of Monero as at September 2021 is $245 million. It is definitely the next big cryptocurrency to invest in.
4. Algoran (ALGO)
Algoran makes use of proof of stake algorithm which is less energy-intensive to run. This algorithm requires less electricity than other platforms. Algoran was founded by Italian computer scientist Silvio Micali and this currency has gained the position of a competitor to Ethereum.
It has experienced great lift this year especially after El Salvador said it would establish its blockchain infrastructure using Algoran. Return on investment has soared this year for investors. This currency has gained more popularity in recent times giving it more value.
Algoran is definetly the next big cryptocurrency to invest in especially becasue of it proof of stake algorithm that gives it advantage over other cryptocurrency.
5. Litecoin (LTC)
This crypto was created by Charlie Lee, an MIT graduate, and former Google engineer. It has mirrored the footsteps of bitcoin. This currency is based on an open-source global payment network. This network is not controlled by any central authority.
Litcoin uses “scrypt” as a proof of work, which can be decoded with the help of consumer- grade CPUs. Litcoin has fast transaction confirmation time which is due to its fast block generation rate. This is a deviation from Bitcoin which it mirrors.
Lots of developers makes use of Litcoin as well as a good number of merchants. It is part of the list of largest cryptocurrency in the world. It is good to consider investing in this currency.
6. Tether (USDT)
Tether is one of the most popular stablecoin which is linked to external reference or an asset like the US dollar. In this case Tether is linked to the US dollar unlike other crypto which is digital and more volatile. The reason for this is an attempt to smooth out price fluctuations to attract users who may otherwise be cautious.
Tether allows you to transact in traditional currencies. It’s price is tied directly to the price of the US dollar. One of its main advantage is that it lets you make transactions in traditional currencies rather than having to dive into complex digital currencies.
Users can transfer other cryptocurrencies back to U.S. dollars in a less complex, faster manner. Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. It is the fifth largest cryptocurrency with a market capitalization of $68.3 billion as at September 2021.
Its price value is more stable than other crypto and investors who are wary of the wild swings that is prominent in other coins should consider investing in Tether.
As you move around the crypto market trying to identify the next big cryptocurrency to invest in, there are two things you should keep an eye on: market capitalization and price.
The known rule here is the larger the market capitalization the more stable the asset. While this is a guide that will aid you in deciding the next big cryptocurrency to invest in, you are the only one that can decide your risk limit.