Top 3 cryptocurrency altcoins to watch

Since Bitcoin was launched in 2009, many other cryptocurrencies have been developed to try to solve issues like fighting inflation, providing better equality when it comes to money management, finding ways to improve trust, etc.

Top three cryptocurrency altcoins to watch. [investorplace]

While at the beginning the most popular altcoins were Ethereum, Litecoin, and Ripple, the boom of Decentralized Finance (DeFi) has increased the use of Smart Contracts and triggered many blockchain companies to issue their tokens to allow their users to better interact with their platforms.

Let’s now have a look at the top five cryptocurrency altcoins to watch now.

Uniswap is one of the most popular decentralized exchanges (or “DEX”), using Smart Contracts based on the Ethereum blockchain. Like most exchanges, Uniswap offers many services for crypto-users to buy and sell cryptocurrencies, but with the benefits of decentralization.

This means that users can trade faster and without any intermediaries, enjoy more privacy protection and less censorship, and profit from cheaper fees thanks to the Smart Contracts used in its protocol.

The platform has a government token called UNI that is used throughout the entire system. Uni token owners can therefore vote on new developments on the platform and enjoy other benefits. While the coin was recently launched (last quarter of 2020), its price has already surged beyond $43 in just a few months.

If you’ve been trading Litecoin for a while, you know that this cryptocurrency is one of the oldest digital currencies around. Created in 2013 by a former Google engineer and Coinbase employee, Charlie Lee, Litecoin provides a faster and cheaper solution than Bitcoin for peer-to-peer transactions. Because using LTC tokens incurs fewer fees and is faster than using BTCcoins, Litecoin is a better option for small payments in everyday transactions.

LTC has been one of the most popular altcoin for investing and trading since its creation, supporting the token's price and making the coin one of the top 10 most popular cryptocurrencies almost since it first launched. In 2021, the price of the LTC has spiked to its highest level ever at $384, which makes it one of the most popular altcoins around.

What started as a joke coin in 2013 to make fun of Bitcoin believers and owners has become quite a popular token recently, especially since it has been endorsed by Elon Musk, Tesla's CEO. Musk believes in DOGE and even described it as the “people’s crypto”. Despite its unusual story, this meme coin doesn’t seem to be a joke anymore, as more and more people use it as a means of investment and trading, pushing the token in the top 5 most important cryptocurrencies by market cap.

DOGE has enjoyed impressively bullish momentum this year, going from roughly $0.0048 on January 1st to $0.7028 at its highest level at the beginning of May. Moreover, the token is cheap compared to other popular altcoins, which makes it an affordable choice for crypto-owners that are considering accumulating tokens during this retracement phase.

Remember that cryptocurrencies are a relatively new financial asset that is really volatile, which can be risky. However, if this asset class fits your financial goals, your risk tolerance, and your trading plan, then you might want to consider these tokens to aim for higher profits than with traditional financial assets.

Depending on your goals and your investment horizon, you can either buy tokens to own them and use them however you want, expecting the price to go up over the long term. Alternatively you can trade the tokens through derivative products like CFDs (Contract For Differences) that are available via online brokers such as easyMarkets and others, to take advantage of rising and falling markets without owning the coins.

#FeaturedbyMarketAcross

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

OctaFX celebrates 10 years in business

5 things you need to know about Wema Bank’s SME Business School

Globacom announces 1TB Mega Data offer for heavy subscribers

Does your PC security work from home?

Move operations to digital, Ojeikhoa advises agencies

CBN directs banks to set up teller points for forex requests

Glo rewards subscribers with 22X value on every recharge

3 myths about creativity we should debunk [Pulse Contributor's Opinion]

UBA, A bank that made a difference through lending in a turbulent time