Since 2014, cryptocurrency has been turning heads. You can go to any news outlet and meet with the latest news of the crypto world. While it’s been quite lucrative, many others have dealt with significant losses. Regardless, there is enormous potential within the cryptocurrency market, and in 2022 that still lies in store.
Many investors ask themselves, “What should I invest in?” or “What ways could I mine for crypto?” which are both very fair questions considering there are numerous options on the market, and this number only continues to grow. So what about altcoins? Those were getting a lot of attention last year and this year. What are Altcoins? It’s essentially just crypto coins that can play as an alternative to Bitcoin.
Everyone knows what Bitcoin is; this is the one that has boosted some investors into millionaire status. Bitcoin is the first cryptocurrency. Therefore, it’s the first generation. Altcoins are all the other generations after the first generation of Bitcoin, specifically the second generation. Some altcoins on the market get compared to Bitcoin and are projected to be as valuable as Bitcoin. So these are the top 5 altcoins that you should buy right now!
Ethereum is the "next Bitcoin"; it's the second-largest and one of the oldest altcoins. However, while Ethereum does get many comparisons to Bitcoin, it is far from similar to Bitcoin.
Ethereum is mainly known for its decentralized software platform, enabling smart contracts and decentralized applications to build and run smoothly. The point is to run without the risk of any fraud, control, third-party interference, or downtime. It can allow users to make transactions anonymously, and this blanket of security is why so many investors are opting to use it.
Many Investors believe that ETH, specifically the blockchain, will play a significant role in the future of finance and transactions. Anyone can easily trade ETH for cash or other assets instantly. Since it’s believed to be the future for many industries, this gives the most significant push for why you may want to begin investing in Ethereum before it’s too late.
Like any other cryptocurrency on the market, Ethereum works thanks to a blockchain network. The entire goal of this altcoin is to create a more decentralized suite that anybody can access regardless of nationality or location. In addition, users can exchange money on this network without needing a central intermediary or structure, such as a bank.
BirdBot is a one-of-a-kind crypto that's not like any other. If you have a passion for fuelling machine-learning software and love wildlife, then it's something excellent to try.
The BirdBot tokenomics focuses on empowering people to engage more in the science community and learn about the birds that we have in our ecosystem. BirdBot is a great way to make a difference in wildlife and how science monitors the changes within the ecosystem. The health of the birds and their population is one of the most significant indicators of environmental change. That’s where Bird Bot steps in with BIRDS.
If you're interested in being a part of the blockchain solution, this is for you! When you invest in BirdBot, you're getting to be a part of a community. BIRDS is a great way to help push science forward by collecting data from wildlife. In addition, you'll be getting educated along the way. There are two options for earning BIRDS; you can either invest or earn BIRDS by uploading information in the blockchain.
The setup is easy to obtain BIRDS. First, you install the Bird Bot software and connect it to a camera, capture videos of birds in your garden; afterward, data is logged into the database and blockchain. So what happens afterward? You get paid in BIRDS every 24 hours.
Related: Biodiversity Has a New Ally: Citizen Science
Ripple Labs developed Ripple. This money transfer network is specifically designed to serve the financial services industry's needs, including banks. So how else does Ripple stand out? Ripple is a trusted agent that two parties can use for a transaction.
So how can Ripple be a transaction network and altcoin? XRP is the cryptocurrency by Ripple Labs, and it runs on the XRP Ledger.
Ripple is one of the most eco-friendly crypto currencies out on the market. The process for transactions only takes a couple of seconds, the cost is low, and on top of that, it uses minimal energy.
How does Ripple work?
Unlike other cryptocurrencies, XRP is a bit different. While the average crypto opens their transaction ledgers to solve equations, it's not the same for XRP. Ripple's XRP tries to centralize things. Other cryptocurrencies have a smooth verification process while Ripple decides the validators to approve.
Drove to popularity thanks to "meme status," this crypto has been making getting a lot of attention. So what's so grand about DOGE? How did it become so popular?
Dogecoin was created as a parody (or meme coin) because Bitcoin grew popular back in 2013. Doge is based on the meme with the same name, the loveable Shiba Inu. The rise of Dogecoin can be due to communities on Reddit, TikTok, and famous billionaire Elon Musk.
While the crypto coin started as a joke, it looks like a serious opportunity for investors. It's excellent for novice crypto investors looking to learn more about the crypto market (that's to its volatility). In addition, it can give an excellent perspective on the perks of holding out for long periods.
Like many other similar cryptocurrencies on the market, Dogecoin uses Scrypt, a simplified variant. The Dogecoin blockchain tends to process 30 transactions per second.
Related: Understanding Blockchain and Data Science Today
In 2020 the Polkadot blockchain was launched by the co-found of Ethereum from the Swiss-based company Web3 Foundation. This is one of the newer altcoins on the market that investors are still getting to know.
Polkadot is the blockchain that's meant to help other blockchains. This open-sourced multichain facility transfers data between two or more blockchains. It's best described as a bridge for blockchains. Polkadot has been compared to other cryptos thanks to its scalability and fast transaction processing.
Polkadot has become one of the fastest-growing cryptocurrencies on the market. It's been hyped by crypto investors within the community, and the developer pool that has played a role in building DOT has also affected the popularity. While it had a bumpy start, there is a lot of hope and expectation that this will have a significant return in the future.
Polkadot operates on the main network blockchain. All the transactions on the network are permanently recorded. This does connect blockchains as a part of its protocol. The DOT blockchain allows both value and data to be sent across incompatible networks such as ETH and BTC.
The price of altcoins can rise or fall rapidly, making them volatile and risky as investments. But with such high risk comes the potential for high reward. While there is a lot of volatility on the market regarding altcoins, it’s also essential to do thorough research before investing in any. Some altcoins have been associated with scams and frauds, while others have experienced a significant increase in price over short periods.
Altcoins such as BirdBot are solely dedicated to helping change the world and save the birds within our ecosystem. Help out science and learn all about the variety of birds in your own backyard. No matter what your age or experience is with birds, you can get started on helping out while earning crypto at the same time.
Looking for a sustainable Altcoin that can help the environment and advance science? Join the waitlist for Bird Bot!
Suppose you're getting tired of missing out on ample crypto opportunities, then one if not all of these altcoins listed could be the one that makes all the difference and has significant value. While investing in altcoins can be very risky, if done right, it can become a lucrative business if approached with caution. So get out there and take the opportunity by investing in these five altcoins today!
Related: What Is Tokenomics? Supply & Demand of Crypto Explained
