Bitcoin, Ethereum, Litecoin, Dogecoin… These are some of the cryptocurrencies that have gained much popularity these days. But, the truth is there are also many other cryptocurrencies that are just as promising.
In this article, we’ll take a look at some of the rising stars of crypto. We hope that the entries we’ve selected will give you fresh investment ideas on how to diversify your portfolio. After all, spreading your investments among different assets is the recommended strategy for lowering the risks associated with financial trading.
As these coins gather steam, we’re sure you will be able to find them in the listings of most trading platforms. Whether you’re sticking to the big ones like Coinbase and Kraken, or going with a smaller, regulation-focused platform such as Immediate Edge, you will be able to trade the increasingly popular assets suggested here.
Curious to see which cryptocurrencies made the list? Let’s go over them now.
Basic Attention Token (BAT)
Who’s behind the creation of BAT? Its founder is named Brendan Eich, who is also the co-creator of Javascript and a co-founder of Mozilla Firefox. With this wealth of knowledge and skills, it is easy to say that he knows very well how the field of business and technology operates.
Basic Attention Token is utilised to tip content creators. The BAT can be used for tipping content creators on a monthly basis. This token can also be used to send payments to people. BAT is also used as a reward for watching specific ads. The use of smart contracts allows advertisers to lock up Basic Attention Tokens. When the ads posted by advertisers are viewed, the funds are given to the end viewer as well as to the Brave Browser.
There are a total of 1.5 billion Basic Attention Tokens currently existing. As the demand for this token grows, its value will also follow suit.
Monero XMR
The creation of Monero was spearheaded by Riccardo Spagni, a cryptocurrency expert and a skilled developer. There are 18.4 million Monero XMR currently in circulation as of May 2022. After May 2022, Monero developers say that .3 XMR will be in circulation every minute.
Most people who opted for Monero do so because of the privacy features it offers. If you have been eyeing cryptocurrencies while trading, you may also consider adding this crypto coin to your investment plans.
Monero is a cryptocurrency released in 2014 which makes use of both privacy logic and cryptography. It is the native cryptocurrency of the Monero network that exists in a privacy-focused blockchain. This is an open-source project developed and maintained by a group of developers.
NEO
The Chinese founders of NEO are Erik Zhang and Da Hongfei, who also serve as the leaders of the company named Onchain. How many NEO cryptocurrencies are being created? 200 million. There are now 100 million existing at the genesis block, and 50 million were in the possession of early investors.
Some 15 million tokens are set aside for funding development. In other words, the supply of NEO is already in the hands of its users. We just have to wait for its demand to increase as time goes by.
NEO is referred to by many as China’s version of Ethereum because it also utilises a smart contract platform. This is the kind of platform that developers use when launching their dApps on the blockchain.
Nevertheless, NEO is a bit more centralised compared to Ethereum. Unlike Ethereum, NEO does not solely depend on hundreds of nodes but rather only on less than ten nodes when making decisions.
Beam
The CEO of Beam is Alexander Zaidelson, who is known to possess vast knowledge regarding P2P technology. In fact, he is also the co-founder of Nareos, which is a company for P2P sharing.
The Beam is a cryptocurrency that is somewhat similar to Monero in the sense that it also makes use of a privacy-focused blockchain protocol referred to by its creators as Mimblewimble. This privacy-focused blockchain has been found helpful in terms of scaling and in boosting the speed of transactions. All these have been achieved with Mimblewimble while simultaneously maintaining the anonymity and privacy of all transactions.
The beam will only have a maximum supply of 262,800,000. This cryptocurrency starts at 80 coins for each block and will subsequently be reduced to 40 coins per block. Its price increase will largely depend on the growth of its demand.
Conclusion
These are just a few of the many promising cryptocurrencies that will exist in the digital world for all of us to see, trade, and invest in. Don’t forget to always exercise caution when investing. Never put all your eggs in one basket and never invest more than what you can emotionally and financially afford to lose.