Bitcoin is the original cryptocurrency, and also the most mainstream coin on the market. However, there are over 18,000 altcoins out there, which is an overwhelming figure to take in, especially for beginners. If you’re looking to bulk up your portfolio with some different assets, you’re in the right place; continue reading to learn about four altcoins.
Uniswap is a highly regarded blockchain project that first entered the space in 2018. Interestingly, this unique trading platform was amongst the first to toy with the idea of decentralized trading. To let this all work, the system isn’t built around the traditional ask/bid functionality. Instead, the platform utilizes AMM, which stands for the automated market maker. In simple terminology, this means that the price of the coin is decided based on capitalization, volume, and demand. Further, as long as you have altcoins sitting on the system, you will be rewarded in UNI, which is the native coin. Once you’ve built up your desired assets, you can transfer them to a crypto cold wallet, which can be accessed for future trading.
DeFi Coin (DEFC) forms the blockchain infrastructure for DeFi Swap, which is a decentralized exchange platform. With the nature of decentralization, the platform has an incredible reward system, which is directly related to the worth of the coin. As long as you are holding DEFC, you will constantly reap the benefits. In 2022, DeFi Swap hit an incredible milestone by surpassing 6000 users on its Telegram network, which is evidence to demonstrate backing from the community.
Decentraland (MANA), is a decentralized game that works around buying and selling land, which is in the form of NFTs. Even though the concept is simple, this altcoin is one of the most successful in 2022. There are thousands of users on Decentralized, which proves the popularity of the coin. When players are rewarded in the native token, they can stake it back into the system or use it to invest in the open marketplace. If you’re looking for a fun coin with promising market growth, Decentraland is the place to be.
Shiba Inu first entered the space as a meme currency, much like Dogecoin, and correlates to the dog of the same name. Surprisingly, all jokes aside, Shiba Inu’s worth is impressive and has boomed exponentially since 2020. In the current market, the Shiba Inu coin’s worth has been corrected, which essentially means that new investors will reap an enormous discount. If you’re looking for a cheap investment before a new bull run, this is where you want to be putting your money.
When it comes to cryptocurrency, Bitcoin is only the tip of the iceberg. There are over 18,000 altcoins out there, with many of them relating to innovative projects. Spreading your crypto assets across several coins is a great idea that mitigates risk. Explore the coins above to get started and carry out further research to decide which ecosystem to back.