It is possible that the pioneers of cryptocurrency, the ones that built the foundation on which a whole economic market rests, are not the only ones you need to look out for? When Bitcoin was successful, it was all the push people needed to develop cryptocurrencies that could revolutionize the economic conventions. Amongst the top cryptocurrency, there are a few that have proven to be more valuable than others. If you take a look at the future of finance you will see that these cryptocurrencies have modified the conventional mold and made way for a new era. Lastly, take a close look at these lucrative cryptocurrencies and why you can invest in them without hesitation.
Cryptocurrencies that will make a difference:
- Bitcoin– When the topic of lucrative cryptocurrency comes up, bitcoin is bound to be mentioned. Over a period of six years, Bitcoin has recorded close to 7800% growth. The founder of Bitcoin is a pseudonym and there is no real proof of their identity. It is capped and the last one is supposed to be mined in 2140. Bitcoin was launched to decentralize the authority over finances and other currencies. Being repeatedly referred to as liquid gold, Bitcoin has not been surpassed by any other cryptocurrency in value and the only one close to it is Ethereum.
- Ethereum– Ethereum was made to promote the progress of digital currency. Apart from Ether, which is the cryptocurrency used on the platform, Ethereum introduced well-developed smart contracts, tokenization of art, streamlining of information in healthcare, gaming, and much more. Ethereum is not capped. That can be viewed as an advantage and a disadvantage. It means, the market can get flooded with any number of Ether at any point and the value will plummet. At the same time, since the total number is not fixed, this could be the solution to most crypto problems, and the number of tokens will not limit the application of this vast network.
- Tether– Tether (USDT) is a stable coin, which means it is less volatile than most cryptocurrencies. It is backed by the US dollar and the value of Tether is generally the same as that of the dollar. This is a safe bet for those who are fed up with the uncertainty that comes with the volatile cryptocurrency.
- Binance Coin– This cryptocurrency powers Binance, one of the largest crypto exchanges in the world. Binance is evolving and keeping up with the times of the hour and has expanded its facilities to travel bookings as well.
- Ripple– Ripple is one of the very rare cryptocurrencies that have an entire team working towards the betterment of the company that owns the cryptocurrency. XRP is the cryptocurrency whereas Ripple Labs is a company for payment solutions that have been trusted by financial institutions and major companies. The formalized relations with financial institutes and lower fees than most cryptocurrencies have made this a favorite. When the rules regarding the crypto change, it is safe to assume that this particular cryptocurrency will be guarded against drastic changes. When the business doubles or triples, scalability will not be an issue for Ripple. Ripple to INR currency is hit in 2022 just like any other but it shows great promise for the future.
- Terra– Terra is a platform that plays an important role in the transitional plane between 2 currencies. It is a payment platform for stablecoins. Terra and Luna work together to maintain a balance. When the value of the stablecoin rises more than the currency, then users are incentivized to burn their Luna. When it is the other way around, they are urged to burn Terra. As more people adopt Terra, the value of Luna increases.
- Cardano– Cardano changed the game with the use of proof-of-stake validation. This method became increasingly popular due to its low carbon footprint. Cardano also works like Ethereum and supports smart contracts and dApps. It also makes the cryptocurrency easier to mine by eliminating the problem-solving aspect of it. For other cryptocurrencies like Bitcoin to be mined, you have to solve various complex mathematical equations.
- Solana– Solana was developed to power Defi uses, dApps, and smart contracts. Solana’s native token on the platform (SOL) powers the platform and helps process the transactions. Solana uses a hybrid model of proof of stake and proof of history. Read more about Can Cryptocurrency Help You Buy Your Dream House in the UK?
These 7 cryptocurrencies are the most powerful and popular cryptocurrencies in the world. They hold the maximum weightage when it comes to volume of business and also space in crypto wallets. There are very few who have come close to these and even amongst these if you see, the values are far apart. A few that are nowhere close but you should watch out for are tron to INR, Chz to INR, Dot to INR, and LTC to INR.