Bitcoin is the crypto king, but there are over thousands of altcoins ready to take its throne, are you wondering who will be the next big cryptocurrency? Let's talk about it.
Since the release of the original digital coin in 2009, over 5,000 altcoins have been created and put in circulation. Most of them claim to be better than Bitcoin and the rightful heir of the crypto world.
Keep reading this article, and you are going to know what are the cryptocurrencies with the most potential to become the new investment boom in the next year. Now that the market of digital coins has stabilized, it could be the time to get into it.
Read, learn, and act.
There were times where cryptocurrencies rose by double digits and also felt wildly, but now the market has stabilized itself, and most of the cryptos are trading more homogeneously.
Is that bad? Not at all, as you may know, volatility is good for trading but also regular trends, ranges, and channels.
That being said, if you are wondering if the crypto market still has room to grow, the answer doesn't lie in the charts but in your conception of what the future will be.
Do you believe that cryptocurrencies in their whole heterogeneity will rule the world in the next few years? If the answer is yes, of course, digital coins will grow in the future.
However, if you believe that altcoins are just a short term trend and everything will remain the same, the answer turns into a no, cryptos will not have room to grow.
However, if you think that cryptos are just a fashionable product, I would like to invite you to think twice. Look around you; watch how the technological revolution is changing everything and be aware of how digital coins are at the core of each disrupting new technology.
For example, Check how Ripple is changing the way how people send and receive money, and it is becoming the payment standard. Also, how the Ethereum platform is becoming the network for smart contracts and DApps, especially in the cargo industry.
Let's also see the Litecoin network, where you can have optimized transactions that are very recommendable for individuals or businesses to pay for everyday goods and services.
Finally, IOTA, which is the cryptocurrency of a blockchain platform that works with the Internet of Things devices. It facilitates communication between all platforms, tools, and operative systems.
Do you see the future? So, does the crypto trading.
So, what is the Next big cryptocurrency to invest in? With a market cap of more than 165 billion dollars and just turning ten this year, the crypto king is believed to be the gold standard of the digital assets. However, investors around the world are looking for a new grail with the ability to make themselves millionaires.
There are several factors to consider about the possible success of a cryptocurrency. As you may know it, cryptos don't have value by themselves, but for the network they represent. So, when considering a digital asset, you should watch the platform behind that asset, the technology it represents, how it is being implemented in the "real world," and how it is getting attention and traction in the industry.
Before going for the next great asset, let's make a clarification. Bitcoin is the original crypto, and the others are considered altcoins. The market calls them in that way as an abbreviation of the Alternative of Bitcoin: AltCoin.
Let's take a look at the most valuable cryptocurrencies in the market and the ones with the most potential to become a new crypto unicorn and worthy of getting your attention.
ETH - Ethereum
Launched on July 30, 2015, Ethereum is a decentralized network that provides optimized structures for DApps and smart contracts. Its coin is the Ether with a circulation of 108 millions of ETH coins and a market capitalization of almost 20 billion dollars.
Ethereum is historically the second crypto by popularity as well as per market cap. While Bitcoin is intended to be used as an alternative of traditional or fiat currencies, it is a utility altcoin to be used in the platform.
LTC - Litecoin
The Litecoin network provides faster block generation and optimized transaction confirmation. It was launched as one of the first altcoins in 2011, and there are 63.5 million of LTC in circulation with a worth of 3.7 billion of market capitalization. It is called the "silver to Bitcoin's gold."
LTC developers created the coin to be used as a means of payment for everyday goods and services. The option of Litecoin as the next big cryptocurrency lies in that transactions are confirmed by a P2P network more quickly than Bitcoin transactions.
XRP - Ripple
Is aims to become the payment standard. It is a utility token that represents a blockchain platform that facilitates cross-border, regional, and international transfers of fiat currencies with more efficiency.
Launched in 2012, XRP has known as the establishment cryptocurrency as banks and financial institutions back the coin since its beginning. Ripple has a circulating supply of 43 billion coins with a market capitalization of 12.7 billion dollars. Some experts believe it could be the next cryptocurrency to invest in as it has a broader acceptance within banks.
LINK - Chainlink
With over 350 million of LINKs circulating with a worth of 911 million dollars as market capitalization, Chainlink is a decentralized Oracle service focus on the connection between the real world and smart contracts.
Chainlink builds bridges between blockchain networks and applications, payment services, and other transactions as it feeds smart contracts with information.
BNB - Binance Coin
Launched on July 21, 2017, the Binance Coin is a utility token that can be used to pay commissions for transactions on the Binance exchange and with a discount. It has a supply of 155.5 million of BNB circulating with a market cap of 3 billion dollars.
As a utility token, its primary focus is to be a method of payment in the Binance network; however, it can also be traded by other cryptocurrencies. Remember that Binance only accepts transactions with cryptocurrency and none with fiat currency. So, BNB was created to facilitate that transition.
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Every day we watch many people claiming they became millionaires after investing in Bitcoin. One of the most curious cases is the Erik Finman story.
Finman took a 1,000-gift that his grandmother gave him when he was 12 years old to buy Bitcoins at the price of $12 per coin. Today, he owns around 400 bitcoins, which means he has a fortune of approximately 4 million dollars according to current BTC prices.
This is just a sample of what people who make the right investment at the right time could become. Today, Finman is a millionaire, but he didn't know much about Bitcoin and the blockchain technology in the past.
He first heard about Bitcoin after going to an Occupy Wall Street demonstration with his older brother. And he liked what he heard about that new cryptocurrency.
Did you like the story? Do you want to live something similar? Okay, but how we can fell in love with the next cryptocurrency to explode? Let's check some aspects you should take into account when identifying the next upcoming crypto boom.
● Technology behind
As mentioned before, a cryptocurrency doesn't have value by itself but because it represents a technology. Bitcoin represents the whole blockchain and crypto industry, but Ether represents the Ethereum Network in the same way XRP represents the Ripple and payments structure.
Is it a revolutionary technology that improves considerably traditional processes? Does it offer an improvement in people's quality of life?
● What it represents
All new technology represents a change, so, think about the possible change it can produce in society. Is it a big or small revolution in a sector? Think about what it will become if everything goes as planned, but also how it would be if something goes wrong.
What industries will affect these changes, how people would react after discovering the new technology, and how it will optimize processes. Do you see a significant difference?
● Potential adoption
Specific cryptocurrencies are more ready for massive adoption than others. Why? Because there are factors that can accelerate or cause a slowdown on its approval. For example, think about Ripple and how banks and financial institutions are adopting it because it is an excellent way to make transfers with optimization of time and fees.
Now think about central banks and possible adoptions after several officials and lawmakers are moving towards the crypto industry.
Another good sample is Ethereum. We are living in the age of DApps, and Ethereum is well-positioned in that field. As the Ethereum platform works on several industries, think about all the potential implementations of that network.
Price is fundamental as an average investor wouldn't be able to buy a very expensive token. So, consider how much are you willing to invest but also how many pieces you can buy with your funds.
Low price coins may offer more significant opportunities as the token can rise by double or even triple digits if it success; however, it also represents high levels of risk.
● Supply limits
Check if the coin has a supply limit. In other words, if there is a maximum number of coins allowed to be created. It is essential because once the roof has been reached, prices would go up naturally as the offer will remain the same, but if the technology is successful, the demand will increase.
The number of transactions in that given cryptocurrency will show you how well liquid is the market and how much interest is raising the token among investors. Cryptos with a vigorous level of volume is always better than others with nobody trading it.
Knowledge is power, and cryptocurrencies are not the exception. A well-informed investor is always two and three steps ahead of his peers. That's why your trading career needs to have a pool of sources that provide you with useful and critical information.
In your pursuit of the next big cryptocurrency to explode, we have identified some places you may want to have under your radar.
MIT Technology Review: This magazine covers all the latest technological developments and brings well-researched opinions about possible implementations and effects in the years ahead. Read it as a way to keep you on the vanguard of "important new technologies that will affect your organization, your career, your life."
Reddit - r/Cryptocurrencies: This forum covers all topics about cryptocurrencies and offers different points of view regarding the market, trading, regulations, and any tip of information you may find interesting.
CoinTelegraph: One of the essential crypto-related websites. It doesn't only offer news but also opinion on that news. Bookmark it as a source of news.
And here we are. We are just starting our search for the next cryptocurrency to explode. Will it be Ethereum, Monero, or Ripple? These coins are well-established digital assets. Besides those, you can also research for new projects and endeavors with inspiring entrepreneurs with energetic ideas.
However, be aware of the many scams that are in the industry and only care about your money. Pay attention and research well before investing your savings in something that claims to be "the next breaking and revolutionary dream."
We are living in a technological shift not seen in centuries. Everything is changing, and the opportunities are right there waiting for you, but you should prepare yourself to take profit from it.
Identify, research, act, and profit from it.
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