Consider investing in these top cryptocurrencies that are poised for price rallies in the future.
The cryptocurrency market has enjoyed immense popularity ever since people become aware of it. Since then, there has been no looking back. Considering how volatile the cryptocurrency market is, investors are always keen on knowing which are the altcoins that trade extensively.
Without a doubt, Bitcoin has a huge trading volume and a global user base that has helped it soar to unprecedented heights. But that does not mean Bitcoin is the only digital asset with growth potential. All cryptocurrencies other than Bitcoin are known as altcoins, and there is a good number of altcoins with high trading volumes, advanced network architectures, and planned future roadmaps.
So let us dig a little deeper into 7 of the best altcoins to buy now for long-term investors.
1. Ethereum (ETH)
Since its launch in 2015, Ethereum has only grown in popularity, and the cryptocurrency Ether (ETH) has impressed the crypto community with its price rallies. Experts predict that it could even grow in value by up to 400% over the course of 2022.
The Ethereum network is currently moving from a proof-of-work (PoW) mining protocol to a proof-of-stake (PoS) model. Essentially, this will make the blockchain faster and more energy-efficient. This update could be huge for Ethereum, as it will help it scale up faster and give it more competitive advantages. Not only could it potentially outpace Bitcoin, but it would also be easier for it to compete with up-and-coming cryptocurrencies like Cardano and Solana.
For these reasons, it is worthwhile to consider investing in Ether, one of the best altcoins for the long term.
2. Dogecoin (DOGE)
Dogecoin’s enormous volatility during the past year might make investors doubt the asset, but investing in meme-currencies requires a strong mindset. DOGE is a good investment for beginners because holding this altcoin for an extended period can give investors a view into what crypto investing is about and a chance to make immense returns over the long term.
Notably, Dogecoin has a brilliant feature called the Scrypt algorithm, a major point of divergence from Bitcoin’s SHA256 and facilitates much faster block creation, making it significantly faster than BTC.
Dogecoin’s mechanism is rooted in its intended usage as a highly accessible P2P method of exchange to minimize transaction fees. Therefore, not only is it one of the best altcoins to buy now, but Dogecoin can also be the most promising meme cryptocurrency investment for the long term.
3. Decentraland (MANA)
Built on the Ethereum network, Decentraland is powered by its native token MANA. As the official token of the Decentraland game, investors look to the value of MANA as representative of the value created on this network. Those looking for exposure to long-term growth in blockchain-powered games in the metaverse will like how this token is positioned.
There is a reason metaverse-themed cryptocurrencies such as Decentraland are taking off. Interest in what the future of the metaverse holds is currently sky-high. Indeed, there is no doubt that MANA is one of the best altcoins for investors to put their money into for the long run.
4. Apecoin (APE)
ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club (BAYC), which proved to be one of the hottest non-fungible token (NFT) collections in 2021. Notably, ApeCoin is a product of the ApeCoin decentralized autonomous organization (DAO).
Each token holder in the ApeCoin DAO has a say in the organization’s development. With a bright future ahead for the Bored Apes and BAYC associated projects, ApeCoin seems like a promising utility token for the trending ecosystem. So if you are looking for the best altcoin with massive earning potential in the coming years, consider investing in the APE coin.
5. Uniswap (UNI)
Uniswap is one of the largest decentralized exchanges (DEX) in the world in terms of market capitalization. UNI is the primary token of the exchange. Uniswap is also the most popular Ethereum dApp out there, and it plays a crucial role in promoting adoption and innovation across the cryptocurrency market.
Any user can swap tokens, add them to a pool, or list them on the exchange. The entire ecosystem utilizes UNI as its principal token. UNI is simply an ERC-20 token that is compatible with the Ethereum network. Currently, users can trade UNI on several other popular exchanges, including Coinbase Pro. Consider investing in UNI, one of the best altcoins for long-term yields.
6. Sushiswap (SUSHI)
SushiSwap (SUSHI) is a DeFi platform designed to improve on other Ethereum dApps out there. Specifically, SushiSwap has introduced additional community control mechanisms and DeFi features compared to other protocols.
The concept of the SUSHI token is similar to UNI. However, instead of just being able to earn rewards, holders also get to keep accruing fees. In addition, the token also allows holders of SUSHI to gain voting rights and appoint members to the platform’s board. Buying SUSHI now could help you generate massive returns in the future.
7. Chainlink (LINK)
Chainlink is an industry-standard oracle network that connects smart contracts with real-world data. Bridging the gap, it expands the capabilities of smart contracts by enabling access to payments, events, and much more. Moreover, it does this without compromising the network security and reliability.
In 2017, Chainlink hosted an ICO that was, at the time, one of the largest events to take place. The network has been in the spotlight ever since. In total, the crowdfunding event netted the platform a respectable sum of $32 million. This funding has helped Chainlink push the boundaries of oracle reliability and security to new heights.
Chainlink's native token LINK is one of the hottest coins in the market. LINK is an ERC-20 token secured by the Proof-of-Stake (PoS) consensus mechanism. Consider investing in LINK to become a part of the growing Chainlink ecosystem.