In cryptocurrencies, other cryptos other than Bitcoin are called altcoins. Altcoins are important for diversifying your crypto portfolio. It offers the opportunity to reduce your risk by offering the opportunity to diversify your portfolio by investing in altcoins with good potentials and projects.
1.Ethereum (ETH)
Ethereum is the token of the Ethereum platform created in 2015 with Vitalik Buterin and his team. Ethereum is a major technological advancement in the cryptocurrency system and is known as the original second-generation blockchain.
It has taken the decentralization principles of Bitcoin. Scripts, known as smart contracts, are self-executing and work according to the developer’s rules.
The biggest advantage of Ethereum is that it has different applications. To give an example, Non-Fungible Token (NFT) is based on the blockchain and decentralized finance of unique digital assets.
2.Litecoin ( LTC )
Litecoin is open source on the market and is a cryptocurrency coined by Charlie Lee, a former Google employee. 6 days after its launch, the Litecoin network was activated, the biggest feature of LTC is that it is the payment system on the network. Litecoin, which makes money transfer transactions, does this with the least cost.
Although LTC was inspired by bitcoin during development, this information is not kept secret, but there have been some changes, such as Litecoin mining. It allows you to mine on your own computers.
3.Chalink ( LINK )
Aiming to bridge payment services and blockchain network infrastructures, LINK wants a match between blockchain and traditional systems. What it promises to its users is that when a person or organization wants to transfer a data that is not included in the blockchain to the chain, it needs contracts. The data contained in the contract is transmitted to the LINK network and through this network, the most suitable bidder among the nodes takes over the task by creating this connection so that the off-chain data is transferred to the blockchain.
4.Polkadot ( DOT )
Dot is an affordable and functional ecosystem that provides a fully interoperable platform. With these features and the parachain update, it is not difficult to say that it is an altcoin with high potential.
5.Avalanche ( AVAX )
AVACX is an altcoin developed by Ava Labs and released in September 2020. Avax is an altcoin that allows blockchains to operate on a single network and is among the decentralized financial assets. Unlike a classical blockchain, Avalanche does not proceed as blocks on a single chain and is designed as a subnet. Among the features we have encountered is that it is possible to perform transactions through Avax in under 3 seconds. Avalanche has made it its main goal to make a structure that does not require mining resilient like bitcoin.
It is necessary to say that Avax has made its investors very happy with its recent price movement. Positive comments continue to be made going forward for the cryptocurrency, which has shown similar price rises before. We will follow together which innovations we will see in the coming period for the Avalanche platform, which is also referred to as “Ethereum Killer” from time to time.
6.Stellar lumens (XLM)
In 2014, Stellar Lumens was a work that set out to bridge the gap between cryptocurrency and the economic world. XLM has since collaborated with very large companies in the field of cryptocurrency, technology and finance. These collaborations include IBM, Stripe and Deloitte, as well as many companies from Europe and Asia.
XLM’s main goal is to bring people, banks and payment systems together and to become the world’s digital payment way. For less than a penny (the British currency worth one hundredth of a pound sterling) for a transaction fee, it allows you to make a fast and secure money transfer to anyone in the world. It is a work that can even cause Western Union to be disabled.
Ripple ( XRP )
Although the idea of XRP dates back to 2004, it is a payment network system and crypto money value that came out in 2012. The most important feature that distinguishes it from many cryptocurrencies is a centralized cryptocurrency.
Thanks to Blockchain technology, it provides very low cost and short time delivery. It is among the popular crypto coins known for being traded on many exchanges.
It stands out as an important factor affecting the price movements of
XRP
, especially with the litigation process. However, XRP, which has many fans and loyal investors, is often preferred for investment among altcoins.