The mind-blowing innovation of cryptocurrency is not just limited to bitxtapp and ethereum but it has brought more than 18,000 other cryptocurrencies a lot of which have recently come under the spotlight. After 2009 when bitcoin was introduced, it started making fame rapidly and in a decade it became the most popular crypto in the world. Till then, bitcoin is seen as separate from other cryptos and the other cryptos are known as altcoins.
Stellar, Dogecoin, Binance coin, Monero, PolkaDot, etc. are such cryptos that have grown up a few years back and trying to make their names as profitable cryptocurrencies in the crypto trading market. People are showing interest in investing in these particular cryptocurrencies. So, it is now a crucial time to understand more about these cryptos. More information empowers you to have more meaningful strategies on trading these cryptocurrencies.
1. 5 Promising Cryptocurrencies To Keep An Eye On
Stellar is a decentralized open-sourced network that transfers digital currency to fiat money between banks, other payment systems, and people. It is a Blockchain-based protocol that maintains peer-to-peer or direct transactions of fiat currency and cryptocurrency. The cryptocurrency that gets converted and transferred through the stellar network is Lumen.
Stellar is created to work in those remote places where banking services have not reached yet. Stellar network is currently working in so many places all over the world to develop the economy differently.
The second crypto in the list is Dogecoin that has a funny creation story. After bitcoin was created speculations were there spread around about the practicality of cryptocurrencies and that was the reason two software engineers namely Billy Markus and Jackson Palmer decided to create another crypto that functions better than bitcoin.
They started their work to make a joke about the issue of speculation. But, the work ended up differently and the cryptocurrency Dogecoin was formed on 6th December 2013 that has some better characteristics than bitcoin in some aspects.
Dogecoin is also a decentralized open-sourced network like bitcoin but it has unlimited supply at a very low price because it applies a script algorithm. The network allows peer-to-peer transactions between its users.
Dogecoin is famous as a tipping currency on social media platforms. It is mainly used by its supporters on social networking sites. However, in recent years, it is being popular as trading crypto too.
3. Binance Coin (BNB):
Binance Coin is another cryptocurrency that has recently become popular. It was created by Binance in 2017. Binance Coin is also based on Blockchain technology; however, still regarded as acrypto token. Initially, after it was created, the token was using Ethereum Blockchain but once its Blockchain, Binance Blockchain was introduced, it is now run on it.
You can use Binance Coin for trading, transferring, investment, loans, and also to give transaction fees in exchange platforms. You can also use this popular crypto for credit card payment, travel booking, entertainment purposes, etc.
4. Monero (XMR):
Monero is another cryptocurrency with a decentralized network. It uses a technology of distributed public ledger that provides ultimate security to every transaction. Your transaction through Monero remains confidential because the transaction amount, transaction addresses, transaction histories, etc. are not traceable.
Monero has an unlimited supply of its native cryptocurrency and it takes a little time for every transaction to get verified that is around 2 minutes.
PolkaDot is an interesting cryptocurrency that is based on the cross-blockchain method. Its network is created with multiple Blockchain that is interconnected. However, cross-blockchain transfers are done in the network without any interference from a third-party governing body.
The PolkaDot network is decentralized and facilitates one-to-one transfer. It is a unique and convenient network to use and thus for the last two years, this cryptocurrency is being preferred by people more.
These are the top five cryptocurrencies that are performing well over the last few years. You can use these cryptos for direct trading as well as making a diversified portfolio with your main bitcoin trading. If you are using the famous app Bitcoin Erafor trading bitcoin, you can also check the availability of these coins there. So, research more about these coins and start investing to make money out of them.