Cryptocurrencies continue to prove that it has huge potential compared to any other traditional investment asset. It has positioned itself as a new asset class with high growth potential, accessibility, and plenty of opportunities for investors.
For those ready to dip their toes into the world of digital assets, here are 2 growth cryptocurrencies to buy with the market at all-time highs.
- Being one of the oldest and reliable altcoins in the market, Litecoin has high growth potential.
- Filecoin, one of the youngest cryptocurrencies in the market today, has seen tremendous growth over the past few years.
1. Litecoin (LTC)
The recent rise in Litecoin’s price indicates growing investor interest in cryptocurrency.
Litecoin has remained a dominant player in the market for over ten years. It is an open-source, peer-to-peer digital cash system that is one of the purest forks of Bitcoin. It was designed to overcome some of the limitations and challenges that BTC could not tackle. Thanks to its continuous network developments and adoptions, Litecoin is one of the best growth cryptocurrencies to buy, with the market at all-time highs.
Litecoin’s Significant Rally
There were features in Bitcoin that, if improved, could help drive the large-scale blockchain adoption amongst the masses. Litecoin was thus created with a major focus on reduced transaction times, fees, and the elimination of concentrated mining pools. With its advanced technology, LTC only took two years to hit a $1 billion market capitalization and reached its official all-time high of $360.93 on December 18th, 2017. The coin continues to dominate the crypto market with its significant rally. Litecoin started 2021 at $124.67 and kept surging to hit an all-time high of $412.96 on May 10th.
Litecoin’s Prominent Partnership And Upgrades
It is best to buy Litecoin now for future returns because the coin has entered into several partnerships and listings over the past few years. In addition, Litecoin remains a cheaper, safer highway for making payments, especially microtransactions. The Litecoin community is also working on implementing all kinds of new fintech gadgets.
The token has been included as a means of payment in Venezuela’s mainstream international payments system. Through the Remesas Online remittance platform, Venezuelans living abroad can seamlessly send Litecoin to family members and friends in the country, who will then receive Bolivars in their local bank account.
The cryptocurrency was also accepted on PayPal in March, which significantly boosted the price of LTC to over 60%. Further, the digital asset manager CoinShares Capital Markets launched a new physically backed cryptocurrency exchange-traded product (ETP) offering with a new LTC ETP in April. Each unit of the ETP was backed with 0.2 LTC during the launch.
Moreover, Litecoin received yet another boost on August 10, when the payment app Venmo announced that its 60 million users could now receive cashback rewards in Litecoin via the newly-launched ‘Cash Back to Crypto’ feature.
Advantages Of Litecoin over BTC
Litecoin developer Charlee Lee designed Litecoin by borrowing the core code from Bitcoin. Although Litecoin had few similarities with the de facto cryptocurrency, the developers have added few additional features to the protocol, making the network more efficient. For example, one significant upgrade introduced was reducing the block approval time from 10 minutes down to 2.5 minutes.
The block time reduction has made Litecoin more scalable and efficient than its predecessors. The primary reason for the popularity of Litecoin is its enhanced transaction speed. This also gives Litecoin a comparative advantage in retail use. Moreover, the transaction fee model within LTC is modified to be more appealing to the masses.
Litecoin is one of the best altcoins to buy now because of its cryptographic algorithms. BTC uses the SHA-256 algorithm while Litecoin employs a new algorithm known as Scrypt, which is relatively energy-efficient and highly scalable. Litecoin’s network also offers instant, near-zero cost payments that can be seamlessly conducted by individuals worldwide. These are many reasons why LTC is a growth cryptocurrency to buy when the market is at all-time highs.
Check Out: Pros and Cons of Investing in Litecoin
Filecoin could be a good investment for long-term investors due to its real-world uses.
Filecoin is a unique peer-to-peer decentralized storage network that enables users to rent out storage space in their computers or buy space to store their files. According to FIL's Whitepaper, it is a decentralized storage network designed to store humanity’s most important information. It is often known as the incentive layer of InterPlanetary File Storage (IPFS).
Since the project aims to provide peer-to-peer storage in the distributed web, FIL is one of the best growth cryptocurrencies to buy, with the market at all-time highs. The coin is still young and has plenty of room for growth, making FIL a good buy now for future returns.
People who offer storage services are incentivized with FIL tokens by those users who need space. Its promising uptrend has positioned it among the top 10 biggest cryptocurrencies in the world.
Decentralized Cloud Storage
Filecoin is one of the best cryptocurrencies to buy now as it aims to change cloud storage using decentralization. The network will also ensure that the data is safe from any threats through multi-layer protection.
Furthermore, Filecoin lets users benefit from each other’s spare storage. According to the Filecoin network, a user only needs a computer with powerful hardware to qualify as a storage miner. In addition, miners can earn incentives when people rent out this space. Filecoin also tackles the issue of security by using a decentralized storage system. It stores data in various computers around the world instead of a single central storage point.
Filecoin was the best choice for data storage as it is much cheaper and safer. The project aims to be more extensive, broadening its reach to a wider audience. As more people register as nodes, the network will expand, eventually driving the price of FIL to new heights.
Types Of Miners
Miners play a significant role in driving the performance of the Filecoin network. There are three types of miners in the network:
- Storage miners - They store data and files on the network.
- Retrieval miners - They allow others to access files quickly.
- Repair miners - They check for faults in the network.
However, the price of FIL has significantly surged over the past few months. Investors believe that Filecoin is a growth cryptocurrency because crypto cloud storage is the next step for keeping your files safe and secure. Multiple companies have already adopted Filecoin as their alternative data storage system. Moreover, Filecoin also has collaborations with major companies like Microsoft and Netflix.
Don't Miss: Could Filecoin Be A Millionaire-Maker Coin?
There are more than thousands of cryptocurrencies in the market today with tremendous growth potential. As a result, cryptocurrencies have become an alternative investment asset for investors worldwide. In addition, the crypto market is at its prime now, with several altcoins hitting record highs. Therefore, these 2 growth cryptocurrencies are the best to buy now, with the market at all-time highs.
However, the crypto market is highly volatile and has sudden, unpredictable price movements. Therefore it is always best to do detailed research before investing in any cryptocurrency.
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Virtual currencies are highly volatile. Your capital is at risk.