1. BITCOIN
Market Capital: $1.24 trillion
Bitcoin, often called the “Father of Cryptocurrencies”, was the first original cryptocurrency created by an anonymous figure Satoshi Nakamoto. BITCOIN GAVE RISE TO THE BLOCKCHAIN TECHNOLOGY! renowned for its near-impenetrable security. Bitcoin is the primary choice for cryptocurrency investments due to its extensive adoption and recognition.
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Decentralized Network: Bitcoin operates on a network not controlled by any single entity (government, bank, etc.). This gives individuals more control over their finances.
Empowerment: Bitcoin, often called “The Peopleβs Money,” gives users more control over their funds than traditional bank accounts, which can be frozen or blocked..
Security: Bitcoin transactions are secured by blockchain technology, offering a potentially more secure alternative to traditional systems.
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Countries like El Salvador and the Central African Republic have adopted Bitcoin as their official currency for legal tender.
Numerous major companies, including Microsoft, Wikipedia, Ferrari, DELL, Starbucks, and Express VPN, Twitch among thousands of other enterprises, now accept Bitcoin as a valid payment method.
Recently Bitcoin has also been approved for ETF and large financial institutions such as Blackrock, Fidelity Investments, Grayscale etc are currently offering Bitcoin ETF.
President Donald Trump proposed Bitcoin as a reserve like the traditional reserve assets like gold. Trumpβs remarks hinted at an acknowledgement of Bitcoin’s growing acceptance
In conclusion, Bitcoin is considered the most ideal crypto investment for those new to crypto investing. Given its widespread use and trust and its recent major halving event, it looks promising with analysis suggesting its value beyond $100,000 per Bitcoin by 2030. It is recommended that Bitcoin should be your highest holding in your portfolio for smarter & safer investment.
2. ETHEREUM
Market Capital: $356 billion
Ethereum is often called the “Mother of Altcoins” as it birthed many significant cryptocurrencies. Vitalik Buterin founded it on July 30th 2015 and has significantly expanded its utility by initiating the use of SMART CONTRACTS. These smart contracts enable the creation of Decentralized Applications (DApps) and Non-Fungible Tokens (NFTs) as smart contracts eliminate third-party intervention because of their self-executing nature.
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Platform for Innovation: Ethereum acts as a platform for various sectors to leverage blockchain technology. This includes Decentralized Finance (DeFi), Decentralized Applications (DApps), Gaming & Metaverse, Healthcare, and more.
Backbone of Altcoins: Ethereum is the foundation for many altcoins. These cryptocurrencies are built on the Ethereum network. Some notable examples include USDT, USDC, Uniswap, and Polygon Matic.
Ethereum 2.0 (Serenity): This ongoing development aims to improve the scalability and sustainability of the Ethereum network
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Automatic actions: When the conditions you set are met (like putting in the money), the code runs automatically, without needing anyone else involved.
Trust & Transparency: Everyone can see the agreement and how it works, reducing the risk of cheating.
Faster & Cheaper: No middleman means potentially lower fees and quicker execution.
Secure & Unchangeable: The code is super secure and can’t be tampered with once it’s on the blockchain.
In conclusion, Ethereum is my number two recommendation for investment and also my second highest holding because it acts as a platform which houses a vast ecosystem and the growth potential is immense, it is speculated that Ethereum will grow ten times in the upcoming future.
3. POLYGON
β’ Market Capital: $6.24 million
Polygon, formerly recognized as Matic Network, is an Indian-based cryptocurrency project established in 2017. It functions as a layer 2 scaling solution for the Ethereum network. Layer 2 (off-chain) projects are built upon existing projects called layer 1(on-chain) such as Ethereum, Solana, and Polkadot.
In simpler terms, Polygon is constructed on the foundation of the Ethereum blockchain (Layer 1) to optimize its speed and efficiency. This optimization results in quicker transactions and reduced transaction gas fees. It can also handle thousands of transactions as compared to Ethereum.
Polygon Matic is a great project backed by an excellent development team with a solid background, which is why it is one of my favourite altcoins to invest in this year. It has great potential ranging from Web 3 to DeFi and another vast ecosystem. I prefer using Polygon Network for my crypto transactions because of cheaper fees and fast transactions.
In conclusion, Matic has huge potential to give a high return on investment (ROI) due to its amazing real-time practical utility.
4. AVALANCHE
β’ Market Capital: $12.74 billion
Avalanche, developed by Ava Labs, is a blockchain platform, a tough competitor of Ethereum it aims to be faster and cheaper than Ethereum, serving as a foundation for various decentralized applications (DApps), decentralized finance (DeFi) solutions, and other blockchain-based projects. It excels at executing smart contracts, facilitating seamless processes without the need for a third party.
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Avalanche Consensus Protocol: Avalanche uses Avalanche Consensus protocol, which enables high transaction throughput, rapid confirmation times, and low transaction fees.
Industry Partnerships: Strategic collaborations with major corporations, including Amazon Web Services (AWS), MasterCard, and JP Morgan, strengthen Avalancheβs credibility and influence in the blockchain space.
DeFi Platforms: Avalanche provides a high-performance, low-cost for DeFi platforms like decentralized exchanges, lending protocols, and stablecoin projects. Its fast transaction speeds and scalability ensure smooth and efficient financial operations.
dApp Development: Avalanche allows developers to create and deploy dApps seamlessly, benefiting from lower fees and faster processing. This makes it an appealing option for building various decentralized applications, including NFT marketplaces and gaming platforms.
In conclusion, Avalanche stands as a promising investment opportunity due to its strong potential for growth. With its ongoing development in the realms of DApps, DeFi, and Web3 applications, Avalanche appears to play a pivotal role in the future of blockchain technology.
5. Polkadot
β’ Market capital: $9.6 billion
Polkadot is a blockchain platform and cryptocurrency created by Ethereum co-founder Gavin Wood! and developed by the Web3 Foundation. The native cryptocurrency for the Polkadot blockchain is known as DOT. Its primary purpose is to enable secure communication and transactions between different blockchains without relying on a trusted third-party.
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Connect Blockchains: It allows different blockchains to communicate with each other and share information or assets, making them work together.
Handle More Transactions: Polkadot can process many transactions at once by using parachain (parallel chain), making it faster and more scalable than older blockchains.
Decentralized Control: People who hold Polkadotβs native token, DOT, can vote on changes to the network, such as upgrades or how the platform should evolve.
Provide Shared Security: Smaller blockchains can use Polkadot’s main chain called relay chain for security, so they donβt need to worry about building their own security systems
HOW POLKADOT WORKS!π‘π·ββοΈπ§
If you want to understand Polkdadot you have to know how Relay Chain and Parachain functions. It’s very simple!
Relay Chain (The Heart of Polkadot).
The Relay Chain is the main chain of Polkadot. Think of it as the central hub that connects and coordinates all the other blockchains (parachains) in the Polkadot network.
Parachains (Independent Blockchains on Polkadot)
Parachains are custom individual blockchains that run within the Polkadot network. Each parachain can have its own features, rules, and governance, but they all rely on the Relay Chain for security and consensus.
In simpler words Relay Chain in the main chain that controls all the other chains in the polkadot ecosystem.
In simpler words parachain are Independent blockchains e.g when we create a blockchain we can connect it to polkadot as parachain and we can rely on the Relay Chain for security and interoperability.
Polkadot operates as a multi-chain network, allowing separate blockchains to work together smoothly. This interoperability facilitates the development of various applications, including cryptocurrencies, apps, and websites that can work within the Polkadot ecosystem. Some well known projects under polkadot ecosystem are Chainlink, Kasuama, Acala, Moonbeam, Bitfrost.
Polkadot is a strong project I consider investing in and also with its alignment with the development of Web 3.0 which is the upcoming trend in the future. Web3 is the decentralized evolution from Web2 which we are currently using!
6. Litecoin
β’ Market Capital: $6.1 billion
Litcoin also historically referred to as the “Silver to bitcoin’s gold” has been around for a long time inspired by bitcoin. It stands as one of the earliest Altcoins, launched in 2011 by Charlie Lee.
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Decentralized P2P Cryptocurrency: Litecoin operates as a peer-to-peer decentralized currency, similar to Bitcoin, with modifications for faster transactions and lower fees.
Trusted Investment: It is considered more secure and reliable compared to many other altcoins, thanks to its long-standing presence in the crypto market.
Resilient Performance: Litecoin has shown the ability to endure harsh bear markets and sudden market downturns, maintaining user confidence over the years.
Simplicity and Reliability: Despite lacking flashy or innovative projects, Litecoin remains a solid investment choice due to its straightforward approach and consistent reliability.
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Litecoin Core
Litecoin enables instant payments to anyone, anywhere in the world using peer-to-peer technology without a central authority. The management and processing of these transactions is carried out collectively by the decentralized Litecoin network.
LIGHTNING NETWORK
The Lightning Network is a 2nd layer solution. Micropayments on the Lightning Network are guided byΒ smart contracts; sets of rules that must be followed for transactions to take place. The fees are likely to be very small compared to the fees charged by miners on the main blockchain. The work done by Lightning Network nodes are far easier than that done by miners.
Litecoin operates as a decentralized peer-to-peer (P2P) cryptocurrency, similar to Bitcoin, but with slight modifications that enable faster transactions and lower transaction fees. Similar to Bitcoin, Litecoin is often viewed as a more secure investment compared to other altcoins. This trust is rooted in its longevity, reliability, and the confidence it has garnered from users over time. This resilience has allowed Litecoin to withstand harsh bear market and sudden crashes.
In conclusion, while Litecoin may not feature extravagant or highly innovative projects in comparison to some other altcoins, it remains a solid investment choice due to its simplicity and reliability, which can outlast many other altcoins.
7. Aave
β’ Market Capital: $1.24 billion
Aave is a decentralized finance (DeFi) platform that allows people to lend and borrow funds. Aave was founded in 2017 by Stani Kulechov, who was still a law student at the time. Aave was originally called ETHLend and raised $16.2 million in an Initial Coin Offering (ICO).
Aave is like a digital bank on the internet. It lets people lend their cryptocurrency to others and earn interest in return. You can also borrow cryptocurrency from Aave by using your own cryptocurrency as collateral, which means you promise to give it back. Aave uses smart contracts to make sure everything happens securely without the need for a traditional bank.
In conclusion, DeFi is revolutionary, potentially reshaping traditional financial institutions such as Banks by promoting transparency and providing individuals with greater control over their financial assets, due to these reasons I believe Avve is one of the best DeFi projects to invest in.
8. RENDER NETWORK(RNDR)
β’ Market Capital: $4.32 billion
The Render Network is the World’s first decentralized GPU rendering platform, empowering artists to scale GPU rendering work on-demand to high performance around the world.
Render Network is a distributed GPU rendering network built on the Ethereum blockchain. It allows users like us to contribute GPU power from our computers through graphic cards (GPU) to help projects render motion graphics and visual effects. In exchange, we earn a Render token (RNDR), the native utility token of the Render Network. Render is also one of the best Artificial Intelligence (Al) based crypto projects as Al can be essential for animation, VFX rendering, and motion graphics, additionally render also helps in building metaverse-based projects.
Conclusion, Render Network is one of its kind and the first to decentralise GPU rendering service, considering the amount of potential Render Network holds it is a great investment option.
9. Chainlink
β’ Market Capital: $7.8 billion
Chainlink, created in 2017 by Sergey Nazarov and Steve Ellis, is a decentralized blockchain oracle network primarily built on the Ethereum platform. This network acts as a crucial bridge between smart contracts and real-world data, such as weather conditions or asset prices. Its role is to ensure that the data used by smart contracts is trustworthy, making Chainlink a standout project with substantial potential in the blockchain space.
The need for reliable real-world data in the cryptocurrency industry is immense, as numerous crypto projects employ smart contracts to eliminate the need for third-party intermediaries. Chainlink plays a significant role in advancing smart contract technology by providing this vital real-world data. Chainlink will play an important role beyond just cryptocurrencies but also including decentralized finance (DeFi), supply chain management chain etc.
In conclusion, chainlink has enormous potential for growth in the coming bull market and is easily going to be the top crypto in the future so l recommend you to hold some Link tokens.
10. Arweave
β’ Market Capital: $2.55 billion
Arweave is the World’s first decentralized network that uses blockchain technology to enable permanent data storage. Arweave was founded as a start-up Archana in early 2017 by Sam Williams and William
Jones. Its design allows anyone to preserve data forever with just a single, one-time fee in a system called permaweb. Its native token is AR, this token encourages miners to participate in the network, further strengthening data permanence.
As Arweave continues to mature, its potential applications extend to a wide array of field such as Web 3.0, decentralized finance (DeFi), healthcare data management, academic research, and more. It empowers users with the ability to store and access information in a manner that ensures its availability for future generations and safeguards against data censorship from the government and loss.
Conclusion, Arweave is a unique projects that has huge potential not only in the crypto industry but beyond, as permanent data storage solution is needed everywhere, beginning from our personal documents and photos. Arweave is one of the promising storage-based crypto projects I have been investing in for a long time.