Altcoins are cryptocurrencies that originated after the success of Bitcoin, which tend to act as improved alternatives. The more people around the world will practice these currencies, the greater their value will be, which means it is more beneficial to get them as soon as possible. Consider the seven altcoins with the most potential for 2021.
Top 7 Altcoins That Will Cause the Most Advantages in 2023
- Cardano (ADA)
It is a decentralized protocol that seeks to make up for the shortcomings of Ethereum. Cardano uses PoS (Proof-of-Stake) instead of Proof-of-Work (Proof-of-Work). It means that the currency does not consume as much energy as Bitcoin and Ethereum. You can also earn rewards for staking Cardano, usually around 5%.
The currency is often underestimated as it does not yet carry smart contracts and installed tokens. However, these features should be coming soon, making Cardano a threat to Ethereum.
Other good-to-know features are below.
- Over 50% of Cardano wallets are in staking;
- This currency is much more decentralized than Ethereum;
- In most cases, Cardano’s money turnover is higher than that of Ethereum;
- Several facts indicate that Elon Musk is associated with Cardano.
Recommended exchanges are Binance and Crypto.com.
- Enjin (ENJ)
Enjin enables you to install NFT tokens and cryptocurrencies into any video game, including Minecraft. Minecraft has been amazingly successful in the past and is still on the wave of success. It is continuously appearing on Twitter trending and amassing hundreds of thousands of viewers on Twitch streams. The integration of NFT tokens into Minecraft servers will bring benefits and user flow for Enjin.
- Uniswap (UNI)
It is a decentralized replacement for trading nearly any ERC-20 token. Yet, due to the high prices for Ethereum gas, transporting Uniswap tokens is quite costly. Gas is the total payment for purchases on the Ethereum blockchain.
It should change soon: Ethereum 2.0 will work on the Proof-of-Validation system, which will reduce the cost of gas. According to rumors, Ethereum mining requirements will be changed, allowing people to use Uniswap again. Taking these factors into account the UNI token will continue to grow.
- Litecoin (LTC)
Litecoin is observed by many as the “silver” of the cryptocurrency world, while Bitcoin is considered gold. Litecoin is an alternative method of collecting Bitcoin’s value. While this currency needs many conventional features, there are two reasons to be positive about it.
- It is a convenient way to transfer funds due to its low fees and equally widespread use. Also, it has potential stability in the future. Plus, Litecoin is backed by PayPal. This quarter, the payment system will provide for settlements in cryptocurrencies with its sellers, which may grow the interest for Litecoin.
- A privacy feature is currently being developed. It will allow for both public and private transactions. It will make Litecoin the only one of the top 10 cryptocurrencies to support embedded private transfers. Also, it is available in almost every crypto exchange.
At the moment, Litecoin is also working on a partnership with Cardano, which could potentially lead to even more growth.
- Binance (BNB)
The Binance currency was started by the eponymous cryptocurrency program and is built on top of the Binance channels. It is a competitor to the Ethereum ecosystem. Most lately, Binance has grown into the third-largest cryptocurrency by market capitalization.
Despite the potential for extra extension, you should be cautious with Binance. Before investing, wait for its value to decrease.
- Filecoin (FILE)
IT is one of the unique crypto projects: it allows users to store files across the blockchain. Potentially, this technology can be used in many courses – from decentralized cloud storage to CDN networks.
Besides, Filecoin shows relative stability compared to other cryptocurrencies, making it an excellent source of constant profit in the future.
- Crypto.com (CRO)
Possessors of the CRO token from the Crypto.com startup can apply for a payment card that entitles them to gain higher rewards and other benefits.
Crypto.com was launched back in 2016 and has seen significant growth over the past two years. At the current pace, the platform can overtake Binance and Coinbase. The increase in the number of users of the currency will ultimately lead to a rise in its value and demand.
Besides, when receiving a card, users must put CRO tokens for a certain period, thereby removing them from circulation. To cut the supply even further, Crypto burned the largest number of tokens in cryptocurrency history in February, namely CRO 70 billion. Such actions will undoubtedly help to raise their price.
Other altcoins
In addition to the above, you should additionally pay attention to the coming cryptocurrencies.
- Aave (AAVE) authorizes you to issue decentralized credits and fast loans;
- 1Inch (1INCH) is similar to Uniswap, but always at a better price;
- Polkadot (DOT) is another possible Ethereum killer with interesting features;
- Pancake Swap (CAKE) is an analog of Uniswap on the Binance network;
- Chainlink (LINK) connects the real world with cryptocurrency.
