Everyone gets fixated on bitcoin but in reality there are many other altcoins that are out there that have a lot to offer. The biggest thing that you need to focus on is the utility of any altcoin, if it was created just for the purpose of it being a crypto then it’s a bad investment. Chances are that you will see the hype machine come out in droves to push it up on fluff.
The altcoins that have utility those are the ones to embrace and take a serious interest in because there is growth potential, they are serving a purpose and have the best shot of accruing in value over time. The ones that don’t have that utility will fizzle out once the hype machine ends.
Let’s go through a few altcoins that have the most potential for future growth due to their utility and not a hype machine.
Of course Ethereum is top of the heap as it allows for other crypto’s to build on it’s backbone but also with NFT’s on the rise this has given a major utility for Ethereum as it also allows for NFT’s to be minted on it’s backbone. This growth will continue to drive it’s value and that game has only just begun, just look at the likes of Beeple who has been selling their digital art for ten’s of millions. The only issue will be the high gas fee’s it charges, that is the only downside.
Solana is very promising and fast, it is a scalable blockchain platform that using protocols different than Ethereum or Bitcoin does. It pushed away from the typical proof of work or proof of stake protocols typically used and leaped all the way into the proof of history protocols. This is a relatively new protocol that if heavily adopted will send this soaring in value. Being a direct competitor of Ethereum and having different, faster and cheaper protocols than they do may make them as big if not bigger than Ethereum over time.
Monero is popular for those that are looking to move their money quietly, whether it be transactional or other. It’s that privacy that has made it popular with the people looking to move cash from one place to another or one person to another without being watched. It’s fast and inexpensive but because it’s that type of altcoin it is in the position of not meeting KYC guidelines as more countries demand transparency to avoid fraud, money laundering and other from occuring.
Pecu Novus was built for business transactions where transparency and security are the standard. A proprietary escrow system allows for businesses to have more control over their transactions where most networks only offer final transactions. The network provides fraud protection, swift international transactions, dual confirmations and more. It has recently allowed for NFT’s to be issued on it’s backbone so that along with it’s proprietary escrow system makes it a value. The downside is the lack of liquidity, it isn’t widely available on exchanges as of yet but once the crypto community gets involved that is sure to change.
VeChain was also built for business and their network is pretty interesting, they have a two token system that has led them to inking partnerships with big name players. They developed this to enhance the supply chain industry, keeping things moving with security and transparency at the forefront. They have their VeChain Network and their VeChain coin, so in short the more VeChain coins a business holds the higher priority they get which increases the speed of transactions. It’s an interesting concept that seems to have been embraced but it may not be for everyone unless you believe in the growth prospects of their network.
Bitcoin isn’t the only game in town and investors in cryptocurrency need to be smarter about where they put their hard earned cash. Chasing the hype machines on social media like the Silicon Investor website used to do for penny stocks is the absolutely wrong way to invest in crypto. If you’re rolling the dice with money you don’t have an issue with losing then roll the dice but looking for serious growth is more than throwing a dart at a board. This is why the altcoins mentioned have the greatest potential for growth long term and continue innovation will allow them to expand their reach and horizons beyond where they currently are, so definitely worth looking into.
UCW MAGAZINE NOV 2021