Which Altcoin Is Safe for Putting Your Money Into?

Which Altcoin Is Safe for Putting Your Money Into?

When it comes to investment, planning is important. Stock markets are popular in this context. However, all across the globe, crypto’s skyrocketing (or falling to ashes) values have piqued the interest of people. 

Of course, financial advice is not offered here. But, the article focuses on helping one find the best buy cryptocurrency based on the current trends. So, keep scrolling!

Bitcoin

Bitcoin, the most valuable crypto in the world, is also the first cryptocurrency. Also, the market cap of this currency is more than 813 billion dollars. The original digital coin still defines the crypto market.

Other than Bitcoin, all other cryptos are known as ‘altcoins’ or non-BTC tokens. Further, “Bitcoin dominance” is the meter that gauges the evolution of space. The latest value of this high liquidity currency is 39,693 USD, making it the best buy cryptocurrency.

Ether or ETH

Ether is far newer than the first currency, Bitcoin. It only came into the scene in 2015. Yet, it ranks second after BTC. Ethereum network’s innovation was to burgeon the field of DeFi or decentralized finance.

It is an expansive finance area. The market share is half of Bitcoin, 360 billion dollars. Ethereum allows peer-to-peer financial transactions (trustless). It processes five times as many transactions compared to Bitcoin. Moreover, it saves users money, time, and hassle, cutting out third parties.

SOL or Solana

Investors often debate the merits when they purchase cryptocurrency: Bitcoin v/s Ethereum. However, a dominant question here for those who buy crypto with a credit card is which network would be higher in DeFi.

The cryptocurrency market is massive. Although Solana is the fourth-best crypto, it is still way behind Ether. One can exclude stablecoins here. The market cap of SOL is 42 billion. That is one-tenth of the market cap of Ether.

On the bright side, Solana is the fastest blockchain. It processes 2500 transactions per second! Compared to 2021, SOL is 200 percent up. So, that suggests it is outperforming Ether and Bitcoin.

XRP

It is a digital asset by Ripple Labs and aims to make the global payment network strong. Also, XRP has greatly lowered third-party roles in financial transactions, thereby building DeFi. As of April 2022, this cryptocurrency’s price is 72 cents.

The market cap is 35 billion US dollars. However, due to a lawsuit, trading of XRP on the site isn’t permitted. So, one can buy crypto with a credit card on Kraken, Binance, and Huobi Globa.

 Bnb (Binance Coin)

Forget about COIN (Coinbase Global Inc.). For someone truly interested in the global asset class, cryptocurrency, go for the largest crypto exchange. Also, it transcends borders.

The native cryptocurrency of Binance is BNB. It is the most dominant cryptocurrency exchange on earth. Even though Binance isn’t in the same league as Ether and Bitcoin, it isn’t far behind. BNB has the third-largest market cap of 66 billion dollars, excluding stablecoins, among tokens.

LUNA (Terra)

 The fifth best purchase cryptocurrency in the market is LUNA. It is a resilient token, a native of the blockchain protocol, Terra. However, LUNA is quite different from the cryptos mentioned in the section above. Its stablecoin TerraUSD is the third-largest stablecoin in the market.

Investors may consider Terra’s LUNA as a bet on the stable coins’ growing popularity. It is a type whose value gets pegged to convert cryptocurrencies (fiat). Further, the good part is the UST market cap has reached 34 billion dollars. It is also 600 percent up compared to 2021. 

AAVE (Aave)

The next worthy cryptocurrency is AAVE. It is a player in the DeFi space. Also, DeFi, as mentioned above, is decentralized finance. Aave is the smallest crypto project here, with a market cap of just 2.42 billion dollars. So, that makes it more volatile.

However, a low market cap is a plus in bull markets, even though bad in bear markets. That goes to the remarkable rally of Aave of 53.2 percent in March. Further, Aave is also known as a decentralized lending protocol. It allows users to take out loans in twenty cryptocurrencies.

What Else Should You Know?

In the race of altcoin blockchain business, Ethereum isn’t the only leader. Cardano’s ADA is growing fast. More than four hundred projects are being built here.

Apart from that, Avalance is a smart-contracts platform worth an investment this April. It is also the fourth-most-used blockchain. Also, the market cap of Avalance is 21 billion dollars!

Conclusion

Altcoins are growing at an unexpectedly fast pace. Although Bitcoin leads the market in terms of investors’ faith, others do not lag far behind. So, this month, buy crypto at Ethereum, Solana, or LUNA.

John Norwood
John Norwood is best known as a technology journalist, currently at Ziddu where he focuses on tech startups, companies, and products.