A lot of people find it difficult to get on board the crypto hype because of the high risk involved in these digital assets. But aside from that, people are also hesitant about investing in crypto because it can be extremely complicated. Moreover, it can be difficult to choose what crypto to invest in due to the sheer number of coins on the market. According to a CoinMarketCap report, there were approximately 10,115 different cryptocurrencies listed on the website as of May 2021, with a total market cap of $1,559,079,159,418.
If you’re on the hunt for a digital asset that can potentially bring in high returns, we’ve listed below four up-and-coming cryptocurrencies you should consider.
Created by famed computer scientist Silvio Micali, ALGO has proven itself as a worthy competitor to Ethereum. The reason why ALGO is slowly entering widespread use is due to its “proof-of-stake” algorithm, which allows it to provide a more secure and scalable service. Moreover, it also uses significantly less electricity than other popular cryptos like Bitcoin. Today, hundreds of companies use ALGO and the country of El Salvador has recently said that it’ll build a blockchain infrastructure based on Algorand, the public network ALGO runs on.
MANA is one of the two main tokens that is being used in Decentraland, a 3D virtual world browser-based platform. The crypto can be used for transactions inside the Decentraland ecosystem, as well as allowing users to participate in discussions and decisions regarding the software. Investing and trading MANA can prove to be a worthwhile activity as it showed more growth than Bitcoin during a 6-month period last year. In addition, it’s one of the world’s largest gaming cryptos, only second to the famed Axie Infinity. As virtual worlds and the Metaverse gain more prominence, cryptos like MANA will surely soar in value.
Buffer Finance’s iBFR is slowly proving itself as one of the top cryptocurrencies to watch. Launched last September, options trading platform Buffer Finance says that it allows users to buy cryptocurrency options without a seller at the end of the trade. This is made possible thanks to their peer-to-pool mechanism that uses a liquidity pool in lieu of options sellers. iBFR is the token behind the protocol of the company and can be used by token holders as an alternative income source and gives them the privilege to vote on decisions concerning the platform. While it may not have received the same fame as some of the other cryptos on this list, the endorsement of Goldman Sachs should be enough to interest you in this crypto.
Depository Network is the world’s first decentralized multi-market aggregator. On this platform, users can trade, store, and manage their digital assets in one unified dashboard. In the middle of this platform is DEPO, which is the platform’s token that can be used to create passive income. In addition, trading DEPO is also a great investment for social butterflies thanks to their tiered referral system that shares the revenue to the holder.
There’s no doubt that cryptocurrencies will soon play a larger part in today’s society. If you don’t want to miss out on potentially huge gains, be sure to consider the cryptos we’ve listed above.