At the moment, the crypto market consists of more than 1,500 digital currencies. When you have limited funds to invest, it is easy to overlook some of the altcoins. Also, you may completely miss the top 10 altcoins most likely to rise in 2022.
At the moment, some of these alternatives to Bitcoin have a market capitalization below 500 million dollars. Some of them are promising. Others deserve at least a look. Above all, they are all ready for investment and could provide an ROI of 100x or 1000x. And today we look at them more closely.
1. Nano (XNO)
Nano is a strong player in payment processing protocols. Furthermore, only Binance Coin (BNB) managed to beat it as the # 1 altcoin with the highest daily trading volume. latter recently managed to accumulate up to $ 50 million per day.
Nano uses DAG technology and low transaction fees to challenge traditional PoW or PoS coins. Also, it looks like you may become a pioneer in the virtual payments industry.
Lastly, Nano also has one of the strongest communities in crypto. Also, the project has some interesting partnerships on the horizon. So if you are looking for a long-term investment in strong community growth, Nano may be right for you.
2. Bytom (BTM)
Unlike other top 10 altcoins, Bytom Coin (BTM) is not dependent on mining. Instead, its proof-of-work consensus algorithm is similar to Ripple. For example, Bytom Holders can stake their coins and receive BTM dividends.
project has multiple blockchain applications that go far beyond cryptocurrencies, including data storage and artificial intelligence training. Its native token, BTM, is useful for completing transactions on the network. Today, more companies and individuals use Bytom systems to store their data or create smart applications. refore, the demand for BTM will continue to grow.
Long-term growth projections see its price reaching $ 30 per unit by 2023. That would make it one of the best altcoin investments today.
At the time of writing, BTM was trading at $ 1.50. However, it may soon rise and triple in value in early 2022. For many investors, it is an excellent investment opportunity for the future.
3. Bytecoin (BCN)
Bytecoin is a privacy-focused cryptocurrency with many unique features. For example, the development team recently implemented Cryptonote Ring Signatures, which adds traceability to transactions. Bytecoin’s high level of privacy sets it apart from other cryptocurrencies as it offers completely anonymous transactions.
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Bytecoin initially emerged as a fork of CryptoNote. However, it now has a proprietary code base with some modifications. In addition, it has state-of-the-art blockchain technology such as Segregated Witness (SegWit). This enables scalability and helps keep data safe on your blockchain.
Furthermore, its native token, BCN, is one of six cryptocurrencies that pass the Cryptonite algorithm test for nonstop cryptography. Additionally, each byte on the Bytecoin network requires at least two megabytes of RAM. As a result, it is very profitable for any mass adoption, further increasing your anonymity.
4. IOTA (MIOTA)
IOTA is a new distributed ledger protocol that goes beyond the blockchain through its main invention, the Blockless Tangle. IOTA Tangle is a quantum-proof directed acyclic chart, with no transaction fees. Also, you do not have a fixed limit on how many transactions can receive a confirmation per second. Instead, performance grows with activity on the network. refore, the more action required, the faster the network will function.
Unlike the blockchain architecture, IOTA has no separation between users and validators. Instead, validation is an intrinsic property of general ledger use, thus avoiding centralization. Initially, IOTA focused on serving as the backbone for Internet of Things (IoT) applications.
One of the most exciting aspects of IOTA is that, unlike other cryptocurrencies, it cannot be mined. On the other hand, each transaction must confirm two other transactions on the network. refore, hackers cannot attack IOTA because it is impossible to extract rewards without checking two previous transactions on random past dates.
5. Steem (STEEM)
Steem is one of the top 10 altcoins that is not just a digital currency. Instead, it has a built-in blogging platform that allows users to receive rewards for creating popular posts. At first, the currency rose rapidly, but then it declined dramatically. However, it can still be an attractive option for investors looking for low-risk investments.
system works with proof of stake instead of proof of work. So even though it only has a current market cap of $ 500 million, it is relatively stable compared to other altcoins. It is in your interest to participate and often rewards them handsomely. However, if you want to get a lot of money from your share, you will have to sell your share before someone else does.
6. Monero (XMR)
Monero is a digital currency that focuses on improving the privacy of transactional data through the use of ring signatures and hidden addresses. In addition to privacy improvements, Monero aims to provide functionality with its decentralized blockchain system.
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In Monero, transactions can take place using a pseudo-anonymous public address while hiding it from other parts of the network. Additionally, it limits approximately 18.4 million Monero coins that will ever exist through mining or transaction fees. refore, the maximum potential value of each Monero coin has a minimal risk of devaluation due to inflation.
7. Lisk (LSK)
Lisk is a relatively new currency. Thanks to its sidechain technology, it allows developers to create their custom blockchain for the development of applications and sidechain projects. Two former members of the Crypto team launched the project in May 2016. Today, Lisk has already made significant progress. For example, your ecosystem includes more than 250 dApps.
8. Waves (WAVES)
Waves is an open source blockchain platform that allows users to create their custom tokens. token can be part of free transactions on your decentralized exchange. Also, miners use a PoS system to mine each token. It has very low transaction fees and is scalable, but it’s not there in terms of adoption yet.
At Waves, users can create their own Waves wallets, with any supported cryptocurrency or fiat currency (USD / EUR). This universal support makes the project worthwhile. Perhaps, in 2022, companies will use this altcoin as a loyalty reward program.
9. RaiBlocks (XRB)
Among these top 10 altcoins, Raiblocks (XRB) is a cryptocurrency for easy use and applications. It employs a lattice structure of blocks instead of a chain of blocks. Raiblocks transactions are processed free of charge and transaction approval is not required. Instead, the altcoin uses an innovative PoS algorithm called Blocklattice. This allows each account to process transactions simultaneously with other accounts.
Also, accounts cannot be frozen and hacker attacks affect Raiblocks transaction data or money supply. Even though it’s been around since 2014, RaiBlocks still has a low profile. For example, the company even registered its activity anonymously at one point. In addition, it is listed on very few exchanges. However, if you want to invest in an alt currency with lightning-fast transactions, XRB might be what you need.
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10. NEO (NEO)
NEO is a platform for decentralized applications that uses blockchain technology and digital identity to digitize assets. In addition, it automates the management of digital assets through smart contracts and realizes an innovative economy with a distributed network. Some refer to it as China’s Ethereum because it has many similar use cases.
NEO tokens power transactions on your blockchain. Instead of mining, the new coins come into circulation through the sale of tokens. In addition, it powers a large number of decentralized applications and ICOs on its blockchain platform.
Lastly, NEO has a strong team, a lot of funding from the government of China. At the moment, it has developed significantly thanks to several successful projects that operate on it, such as AdEx. You may want to examine NEO if you want to expose yourself to altcoins.
Conclusion – Top 10 Altcoins to Consider
While everyone loves Bitcoin, putting too many eggs in one basket is risky. When you see that there are more than 1,000 cryptocurrencies available for investment, you should consider diversifying your portfolio. question is, how much risk should you take?
In general, the 5% allocation among the top 10 altcoins by market cap can smooth out volatility without sacrificing performance. This would mean buying a portfolio of major cryptocurrencies such as Lisk, IOTA, Nano, Bytom, and other of the above. But remember, these assets are ranked higher depending on their low risk and realistic growth potential.