Bitcoin, the world’s oldest and most famous cryptocurrency, has now become a household name. This has got investors to look for assets that have a lot of room for growth. So after evaluating various crucial considerations, we have put together a list of 3 cryptocurrencies that could make you much richer over the long run than Bitcoin will.
There are thousands of digital assets to choose from, and the list keeps growing. Many cryptocurrencies offer attractive investment opportunities, depending on what your investment goals are.
While there is no single cryptocurrency we can point out as the best of the best, these three cryptocurrencies can help you generate sizable returns and become rich in the long run.
3 Cryptocurrencies That Could Make You Much Richer Over The Long Run Than Bitcoin Will
1. Cardano (ADA)
Cardano (ADA) has seen one of the most significant growth records of all cryptocurrencies in 2021 so far.
The coin has risen more than ten times in value since the beginning of the year as it kickstarted 2021 priced at $0.17. It went on to reach its all-time high price of $2.3 on May 16. Thanks to its solid fundamentals, Cardano has managed to get a spot in the top ten cryptocurrencies by market cap.
Cardano was one of the first blockchain platforms to introduce the concept of Proof-of-Stake (PoS). Popular blockchain networks like Bitcoin and Ethereum use the Proof-of-Work (PoW) consensus to secure their platforms. The latter is energy inefficient and requires power machines to run the network.
Cardano’s Ouroboros PoS mechanism is scalable and can process up to 1,000 transactions per second (TPS). On the other hand, Bitcoin can handle 3-7 TPS and Ethereum 10-20 TPS (not factoring in Layer 2 technology or Ethereum 2.0).
As a third-generation blockchain network, Cardano has learned from the failures of its predecessors to try and build a more cost-effective and energy-efficient system. Additionally, it is based on peer-reviewed scientific research, with sufficient time and energy dedicated to exploring the technical possibilities. The fundamentals behind Cardano appear to be strong. Given the current low price per coin, many investors see it as a worthy long-term bet on a promising cryptocurrency project.
Considering these factors, buying ADA now could make you rich in the long run by doubling your investment.
Check Out: Why Cardano Will Skyrocket
2. Chainlink (LINK)
Leading oracle solution Chainlink aims to tackle some of the biggest problems facing the blockchain sector.
It strives to enable seamless communication of information to and from the blockchain by using sensors known as oracles. Oracles are used to monitor nearly anything. For instance, various oracles monitor the weather, sports scores, account balances, and the value of stocks, among other things. Oracles expand the usability of blockchains as they provide a secure way to initiate smart contracts when outside parameters are met.
On April 15, 2021, Chainlink 2.0 was unveiled, promising significant enhancements and fixes to ordinarily faced issues with oracles. The upgrade aims to fix scalability and cost issues by proposing an off-chain processing blockchain called Decentralized Oracles Networks (DONs), which reduces congestion on the primary blockchain and only communicates with it for final results.
These DONs procure their security from the primary blockchain but enable complex design and rapid processing, which wasn't possible before. Chainlink 2.0 will facilitate a new generation of smart contracts, particularly those related to decentralized finance (DeFi). Chainlink's multi-year plan represents the forward-looking vision of the team and the determined efforts to keep the oracle system modernized.
Since Chainlink was the first oracle platform and has a robust design, it is the preferred oracle provider for most prevailing projects. Thus, it is the most integrated service in the crypto ecosystem. For this reason, its network effect cannot be overstated and has the potential to grow further.
Chainlink boasts of 512+ projects and ventures, both inside and outside the native crypto space. These include enterprises in blockchain, compliance, data providers, infrastructure, DeFi, gaming, NFTs, payments, storage, real estate, developer tools, marketing, etc.
It is now clear that Chainlink benefits from access to multiple sorts of data and experience with different ecosystems. Having a diversified profile of clients creates a synergistic effect between its platform and all other parties in the ecosystem. These are some of the reasons why buying LINK now could double your investment and make you rich in the long run by generating massive returns.
Don't Miss: Could Chainlink Be A Millionaire-Maker Coin?
3. Uniswap (UNI)
UNI is the governance token of Uniswap is one of the fastest-growing decentralized exchanges (DEX) in the entire industry.
DEXs have seen rapid growth in popularity and usage over the past couple of years. The crypto community widely attributes this to the rise of decentralized finance (DeFi) in 2020 and the users' focus shift on the non-custodial exchange of assets. The centralized counterparts of DEXs have seen insolvency, regulatory troubles, hacks, etc., which pushed people towards exploring a decentralized solution.
But is buying UNI a worthy investment?
UNI is the native token of the Uniswap platform. The exchange rolled out UNI in September 2020 through a retroactive airdrop program, meaning that all addresses that interacted with the protocol or provided liquidity to it during a certain period were eligible to receive the airdrop. This ensured fitting distribution of tokens to protocol users, also known as a fair launch. Thus, Uniswap created a grass-root community and promoted decentralized governance. Uniswap is integrated with nearly all major DeFi protocols due to its value in providing a core DeFi functionality of asset exchange.
Since its initiation, the UNI token has performed exceptionally. It faced high selling pressure initially because of the wide distribution and general propensity of users to sell airdrops. However, it recovered quickly and has appreciated well since then. An investor who purchased UNI and kept it since the original distribution date would have received an ROI of over 600% by now. UNI has the potential to surpass its previous highs and rise as one of the hottest crypto tokens.
Due to its unique nature and success, Uniswap is finding utility for various purposes. Earlier, Ethereum founder Vitalik Buterin proposed that Uniswap become an oracle token, providing reliable price feeds to the smart contracts. It appears to be suited for that purpose because of its deep liquidity and heavy usage, ensuring that prices are not manipulatable on the protocol. This would benefit the crypto ecosystem as it will decentralize the oracle space, which Chainlink currently dominates.
For these reasons, buying UNI now could help you realize massive returns in the long run.
Read Also: Will Uniswap Make Me Rich in 10 Years?
In Conclusion
If you are a novice investor looking for promising crypto projects, these 3 cryptocurrencies could make you much richer over the long run than Bitcoin will. That said, cryptocurrencies are volatile by nature. Investors must perform due research before investing.