2 Under-the-Radar Cryptocurrencies With More Potential Than Bitcoin - Our Picks
Let’s see why these 2 under-the-radar cryptocurrencies have more potential than Bitcoin in 2023.
Litecoin - The future of global payments
Dash - Digital cash with global scalability and value
A Closer Look At The 2 Under-the-Radar Cryptocurrencies With More Potential Than Bitcoin
Bitcoin has always been the go-to choice of crypto investment for years. It has always remained the dominant player and continues to be the largest crypto by market cap. Its current volatility, however, has opened the door for other altcoins to rise and leave their mark on the market. So here are the best 2 under-the-radar cryptocurrencies with more potential than Bitcoin to add to your watchlist now.
Litecoin (LTC)
Most altcoins have found it difficult to maintain their position in the market and stand out amongst crowded fields over the years. However, Litecoin has been in the market since 2011 and has managed to stand up to the competition against Bitcoin. The proposed goal of LTC was to simplify and enhance what Bitcoin offered in terms of faster, cheaper, and more efficient payments.
It has multiple similarities with Bitcoin, as it also shares a deflationary nature, with a maximum supply of 84,000,000 LTC coins, set to taper in the next few years. Following its goal, the crypto has successfully managed to improve Bitcoin in terms of its block generation time, as it has a time of 2.5 minutes, compared with 10 minutes for Bitcoin. A unique feature of LTC is its Scrypt proof of work algorithm, a safer hashing algorithm. Since it has a relatively simpler mining algorithm, it can be mined on computers that are less powerful and consume less energy.
LTC is widely adopted as a valuable medium of exchange for small transactions in particular, as it has relatively lower fees. It has experienced an increasing adoption rate by mainstream institutions lately. Around 3070 merchants accept Litecoin as payment now, including giants merchants like BitPay, Travala, and others. This increasing adoption rate makes LTC one of the top under-the-radar cryptos with more potential than Bitcoin to generate returns.
2022 was not the best year for cryptocurrencies, and LTC was not immune to the market crash and prolonged crypto winter. However, it was adopted as a payment method for a major company in Canada in May 2022. Oxio, the popular Internet service provider, allows customers to pay using LTC.
Also, LTC became the top-performing crypto in November, powered by optimism over its scheduled halvening event, expected to happen in 2023. The team would keep halving the block rewards until they become zero, which is predicted to happen by 2142.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dash (DASH)
Dash is a cryptocurrency that offers fast, cheap payments across the world. Although working under-the-radar, the payment protocol seeks to offer a user-friendly experience and privacy similar to cash. This makes platforms like BitPay and technology giants like PayPal the crypto’s potential competitors. DASH seeks to fulfill the rising demand for a borderless, private, quick, and affordable system to make purchases and send money.
It is one of the top under-the-radar cryptocurrencies with more potential than Bitcoin, as it was specifically designed to improve on Bitcoin’s flaws in terms of transaction times and privacy. The team envisions the crypto as the next logical step towards fully digital cash.
A unique feature of Dash is its masternodes system, which is a special server with a complete copy of the Dash blockchain. Users with at least 1,000 Dash can operate masternodes that power several features of the network. The platform has over 4,100 masternodes currently, making it one of the largest peer-to-peer networks in the world. Some notable features of the network include InstantSend, allowing for fully confirmed transactions within two seconds, and CoinJoin, a unique method of running a sequence of transactions, eventually making them harder to trace.
Dash was initially designed as a cryptocurrency that could be used in the same way as cash. DASH has again started to rebound significantly after its lows over the past and is currently trading at $47.08. The value of the crypto is predicted to increase even higher as more partnerships are signed and multiple avenues of utility are explored. Also, once online merchants start accepting Dash as a payment method, thanks to its instant pay function, the crypto would see a massive adoption rate and a gradual increase in its price. When the Venezuelan fiat currency, bolívar, crashed, Dash became the prevalent payment method in the country. This under-the-radar crypto also boasts a point-of-sale (POS) DashApp, an in-store payment option used only in the US, which is becoming increasingly popular among vendors.
The latest upgrade for DASH went live in September 2022 when the project forked to version 18 to improve user experience. In addition, the crypto has several network developments in the pipeline, which is expected to push its adoption rate higher.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Now is the best time to add potential cryptocurrencies to your investment portfolio as the market is nearing the end of a bear market and beginning a new year. However, price projections or forecasts should not be used as a substitute for your own research, as it is always important to conduct due diligence before investing in any cryptocurrency.
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