Top 5 Altcoins With The Best Growth Potential In August 2022

Last Updated August 4th 2022
5 Min Read

Invest in these top altcoins and generate profitable returns over the long run. 

Any cryptocurrency other than Bitcoin is referred to as an altcoin. Earlier, when investors were looking to diversify their portfolio beyond Bitcoins, there were only a handful of options like Ethereum, Ripple, or Cardano. But today, thanks to advanced technology, there are numerous altcoins with high growth potential. Currently, as we head further into the second quarter of 2022, many investors are wondering which altcoins are set to rally to new highs in the coming years. Here are the top 5 altcoins with the best growth potential in August 2022. 

 

Skale Network (SKL)

SKL investors could expect numerous partnerships and integrations this year, making it one of the top altcoins to buy in August. 

Skale grabbed the attention of investors lately due to its unique ecosystem and advantages like complete decentralization, security, and low transaction costs. SKL has just started to recover from its high fall in 2021, and analysts see a bright future for the asset in the coming years. 

The Skale Network describes itself as a complete elastic network that brings scalability to Ethereum. Additionally, the network boosts transaction capacity, along with reducing latency to ensure that payments can be completed as cheaply as possible. Delayed transaction time is another problem that Skale aims to address. With combined low latency SKL features an ultra-high throughput. 

The updates planned for the SKL network and its upcoming partnerships make SKL one of the top 5 altcoins with the best growth potential in August 2022. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Monero (XMR)

Monero is one of the fastest-growing altcoins with the potential to generate good returns in 2022. 

Monero is designed to maximize privacy and anonymity. Transactions using other cryptocurrencies can be traced to a unique digital address that gives specific hints about the owner’s online activities and identity. By hiding the user data and other transaction details, Monero solves this issue efficiently. The network employs a unique CryptoNote protocol to ensure user data privacy and security. 

One key reason XMR is one of the best altcoins with the best growth potential in August 2022 is its rapid growth rate. Additionally, it is one of the top altcoins with a well-defined roadmap, technical specs, real-world utilities, and an early-mover advantage. This will eventually boost the adoption of the Monero network, pushing the price of XMR to new highs. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Filecoin (FIL)

Decentralized file-sharing platforms are now more popular than ever, and Filecoin is the best altcoin on this list.

Filecoin is a decentralized file storage network that turns cloud storage into an algorithmic market and offers users a safe haven to store their sensitive data. By combining various technologies, Filecoin offers users more opportunities to earn more crypto.

Moreover, it offers an open market for file storage where users can choose the miners of their choice that can provide them with the best balance of speed, cost, security, and reliability to meet their needs. FIL has the best growth potential in August 2022 as the team is working with other developers within the crypto space to expand its ecosystem.

It has already announced numerous collaborations over the past few years. Earlier this year, the Filecoin foundation partnered with Protocol Labs to launch the Orbit Community Program. The program aimed to promote the growth of diversified crypto hubs with borderless reach, facilitating equal opportunities, facilitating people of all backgrounds equal opportunity to learn more about the Web3 technologies and its various applications. 

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cosmos (ATOM)

Numerous partnerships, collaborations, and community funding are around the corner for Cosmos, making ATOM the best altcoin to buy in August 2022. 

The price of ATOM has been growing tremendously lately. Cosmos is hailed as the “Blockchain 3.0”. Apart from featuring efficient smart contract capabilities, it offers a safe and highly secure system of transactions and trading without any intermediaries. 

This network is dubbed the Internet of Blockchains and aims to build an ecosystem of independent interconnected blockchains. It allows users to interoperate while maintaining their security properties. Its role in the development of Web 3.0 makes ATOM one of the top altcoins with the best growth potential in August 2022. 

Cosmos employs a unique Tendermint Byzantine Fault Tolerance (BFT) consensus algorithm, which ensures finality, order consistency, and optional availability. Furthermore, the introduction

DeFi into the Cosmos ecosystem is yet another reason why it has the best growth potential in the market.  

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Concordium (CCD)

As a public-permissionless layer one blockchain with strong leadership, Concordium is one of the top altcoins to drive profit in crypto in 2022. 

Concordium is an innovative future-ready blockchain that has an ambitious goal. The team aims to address numerous issues that are plaguing the blockchain ecosystem. Therefore, Concordium is a blockchain that is “compliance-ready with today’s and tomorrow’s economies.”

It is one of the best choices for developers as the network offers high throughput, fast transactions, and relatively fewer fees. Moreover, with zero-knowledge proofs, the crypto offers complete privacy with blockchain technology. With its built-in ID, CCD aims to solve the trifecta of the blockchain sphere, scalability, security, and decentralization.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Bottomline 

After the recent market crash, many crypto investors have started preferring altcoins to diversify their portfolios and generate massive returns in the long run. Invest in these top 5 altcoins with the best growth potential in August 2022 and generate good returns in the long run.

Read More:

Where To Buy SKALE Network (SKL)

How To Buy Filecoin (FIL)

The 5 Best Ways to Buy Cosmos (ATOM)

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