2021 was the year of altcoins, and this calendar year is predicted to be no different. The cryptocurrency market has started to gain wider acceptance, but investors are still in a fix. With the constantly launching altcoins, investors are finding it challenging to pick the digital currencies with the highest upside potential. A quick look at the MATIC coin price in INR and other altcoins is evidence enough of how well alternate coins are performing in the cryptocurrency space.
If you’re planning to get into crypto trading in 2022 or want to add some promising cryptocurrencies to your portfolio, we’re here to guide you in the right direction. After talking to some crypto experts, we’ve found a few crypto coins that have promising growth potential. If you’re looking for some worthy cryptocurrencies to consider this year, the following curated list of altcoins might help.
- Lucky Block (LBLOCK)
Hosted on the Binance Smart Chain, Lucky Chain aims to revolutionize the lottery industry. LBLOCK is the native cryptocurrency of the Lucky Block platform that is used to facilitate every transaction or activity on the block. Using Lucky Block, people can expect to receive more transparency, increased chances of winning, reduced draw times, and more.
What makes this cryptocurrency valuable and worth your attention is that the network has its built-in burn rate. It implies the supply of LBLOCK coins reduces over a period, which would result in increasing the coin’s price.
- Ethereum (ETH)
The second most popular cryptocurrency and altcoin, Ethereum, needs no introduction to most. It is a blockchain-based decentralized platform that allows developers to create and host dApps using their platform’s advanced smart contract features. Thanks to the network’s smart contracts, various popular decentralized applications, NFTs, Defi, and more are hosted on Ethereum.
And the number of people adopting this platform is only expected to increase, which would ultimately lead to a significant increase in the cryptocurreny’s price. A quick look at the Ethereum price of today and the past few years will show you a promising trend, which can be enough of a reason for some to invest in it.
- Ripple (XRP)
Created by Ripple Labs, the XRP Ledger is a blockchain-based decentralized ledger that helps financial institutions make faster and more affordable cross-border transfers. You can view Ripple as a payment and exchange platform that is affordable and easily accessible. It aims to compete with SWIFT and become the world’s go-to platform to make international transfers.
At present, many top financial institutions worldwide are using Ripple to facilitate faster international monetary transfers. American Express, Bank of America, MoneyGram, Standard Chartered Bank, National Bank of Fujairah PJSC, Royal Bank of Canada, and Westpac Institutional Bank and Bank of Australia are some of the leading names using XRP in current times.
- Shiba Inu (SHIB)
Those who like investing with the aim of profiting from the short-term hype should consider adding Shiba Inu to their portfolio. Shiba Inu is Dogecoin’s competitor that is used solely used by investors who want to make some quick profits in the short run. As this meme coin has no real intrinsic value, seasoned investors with a long-term goal in mind prefer staying away from it.
Some consider Shiba Inu to be purely entertainment-based, but seeing the hype associated with the coin at present; it can be a wise option to take it seriously this year. However, we always advise that you do your own research before adding any cryptocurrency to your portfolio.
- Decentraland (MANA)
If you like to play games and take part in virtual world activities, Decentraland might be for you. It is a user-owned virtual world built on Ethereum where you can explore, play, and interact with other users. Users can also purchase parcels of land in this virtual land using the platform’s native currency, MANA. With 3D video games rapidly growing in popularity, investing in Decentraland (MANA) can be an excellent choice.
This has been a phenomenal investment for the last calendar year, but this metaverse token crashed in November 2021 after reaching its all-time high. Experts predict MANA to recover in the coming time and prove to give promising returns. However, any investment in any cryptocurrency should be made after analyzing one’s risk appetite and investment goals.
Get Altcoins that are Reasonably Priced Yet Lucrative
The cryptocurrency market is more crowded than ever, and the range of coins is enough to confuse even the most seasoned crypto traders. To assist crypto enthusiasts and investors, we’ve listed above some cryptocurrencies, other than Bitcoin, that have high growth potential and are expected to boom this calendar year. So if you were looking to shortlist some altcoins for research and consideration purposes, you might want to check out the altcoins mentioned above.
However, to be safer throughout the trading journey, never invest without doing thorough research on the cryptocurrency you plan to buy and the associated aspects. If the chosen cryptocurrency aligns perfectly with your investment goal and you’re ready to take on the risks, you might want to proceed with it.