Choosing a promising cryptocurrency among more than 1,500 existing ones is not easy. However, some promising cryptocurrencies have been selected, taking into account the main factors that are crucial for a cryptocurrency’s success. These factors include the project’s purpose, market capitalization and potential of the coin. Here is a look at the promising cryptocurrencies in the market to keep your eye out for.
1. Vibe
The vibe is a virtual reality marketplace and hub where users can create their VR content and sell it on the platform. The project utilizes the Ethereum blockchain and uses smart contracts to make fast transactions between buyers and sellers. Currently, Vibe has already created its VR platform available in our SmartBettingGuide in beta testing mode with more than 25,000 users.
2. Quantstamp
Quantstamp is a smart contract protocol using formal verification to find bugs in Ethereum contracts. The QSP token is usable by developers to run security audits on their contracts, which are then submitted to the blockchain. Once the audit is complete, the auditors get rewarded with QSP. Quantstamp started partnerships with Kyber Network and Bi nance, two of the hottest names in crypto right now.
3. Tronix (TRX)
Tron ix is an ambitious project that aims to decentralize the internet. It is a young cryptocurrency, with its ICO ending just six months ago. The Tron ix team is working hard to develop a fully functional ecosystem, Moreover, when success follows, it will undoubtedly be huge for cryptocurrency. Like Ethereum, Tron ix will allow users to create Dapps with apps running on the blockchain.
4. ZClassic (ZCL)
ZClassic has been around for a while now. Its main claim to fame is that it is a fork of ZCash (ZEC). Now, this might be the most promising new cryptocurrency on the market. It’s based on the same technology as ZCash. However, the idea behind it is that it is much fairer. ZCL offers all the same anonymity features as ZEC.
5. Bit connect (BCC)
Bit connect (BCC) is a cryptocurrency launched in January 2017. It is a decentralized, open-source, peer-to-peer lending platform. You can invest your Bitcoins in Bit connect’s Lending program to earn daily profit. When you lend at Bit connect, you are purchasing BCC loans with Bitcoin. You will use this money to trade on the volatility software. The profit made from trades leads to sharing with Bit connect investors.
6. Litecoin (LTC)
Litecoin (LTC) is one of the oldest cryptocurrencies after Bitcoin, Moreover, the cryptocurrency launched operations in October 2011. It has a market capitalization of $2,084,746,867 at the time of writing, making it the third-largest cryptocurrency. The creators based it on the Bitcoin framework and launched it before Ethereum and other major cryptocurrencies. Like Bitcoin, Litecoin is a decentralized peer-to-peer (P2P) payment network.
The currency sector is in constant development. In addition, there are now close to a thousand distinct cryptocurrencies existing in this space. Tracking the new ones emerging can be challenging. However, it’s good to keep an eye on promising new currencies. From collectables to innovative contract platforms. These five have the potential to change the world of digital currency as we know it.
Why should you invest in new cryptocurrencies?
The most common question people often ask is whether they should invest in the latest digital currencies or not. Well, it depends on a lot of factors. You have to consider everything before deciding the same. Here are some things that make new cryptocurrencies suitable for investment.
• A decentralized form of currency:
The most significant advantage of buying new digital currencies is that nobody can control the supply. The government or banks are not involved in the same. They are free from rules and regulations.
Any third party does not rule the cryptocurrency market. That is what makes new digital currencies excellent for investment.
No one decides the value of these digital currencies. It depends on various market factors that you need to know before investing in them. So, you must read them in detail and then decide what is best for you.
• Security like never before:
Have you ever wondered why people always prefer this source of investment over others. Well, it is because these new cryptocurrencies remain safe in your digital wallet. You will get total control of your account. It is your responsibility to set a strong password so that cyber attackers can’t steal the latest digital currencies.
The best part is that various digital wallets provide many options to the users regarding security. You will have the complete freedom to choose the options that might help you secure your account and virtual currencies.
• Numerous platforms and exchanges:
Another good thing about purchasing the latest cryptocurrencies is numerous exchanges to buy them. You have the right to select the platform from where you want to purchase these virtual currencies. But before choosing a reliable exchange, you should know whether they provide that new digital currency you want or not.
Once you find it, you can proceed to make an account. One advantage of using these platforms and exchanges is learning new things every day. In this way, you can improve your trading techniques after a while.
• Higher returns due to volatility:
The crypto market is highly volatile, and many investors already know that. Well, there are some pros and cons of the same. However, it depends on the factors affecting the price of digital currencies.
If you want to buy the latest digital currencies, it is a great option. Why? Because their price might rise in the future. You can get higher returns from them. That is the only objective of investors investing in various new cryptocurrencies.
The risk factor is also involved because the same volatility can decrease the value. Unfortunately, you won’t have any control over the same.
• The long-term investment is possible:
Looking for long-term investment but not purchasing new digital currencies is strange. You must purchase them if you want a long-term investment. Many people are into them because of this benefit.
The Bottom Line
Investing in new cryptocurrencies always comes with hesitation. But there are many benefits of purchasing them. We hope now you have understood everything in detail.
