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How to Identify Promising Altcoins: A Guide for New Investors
The post How to Identify Promising Altcoins: A Guide for New Investors appeared on BitcoinEthereumNews.com. Investing in cryptocurrencies is one of the best ways to diversify your investment portfolio and increase interest exponentially. When managed properly, crypto price volatility can offer you a good return on your investment within a short period compared to traditional stocks. This has led to the global popularity of traders seeking new alternative coins to invest in. However, navigating the crypto market can be confusing for new investors. With over 17,000 altcoins currently in the market, making a good investment decision can be quite challenging. Here’s why we’ve provided this guide to assist you in identifying promising altcoins that will be good a fit for your investments based on their technology viability, market capitalization, and the team behind the project. What are Altcoins? Altcoins is the general term used to describe all other types of crypto coins and tokens issued after Bitcoin – the world’s first cryptocurrency. The term “Altcoins” was derived from the phrase alternative coins. These digital assets are being introduced to serve as an alternative to Bitcoin. After Bitcoin was issued in 2009, it had some significant drawbacks such as high fees and slow speed of transactions. To make up for this drawback altcoins were introduced and have indeed been able to achieve this. Every altcoin created is unique in its characteristics and use. Here’s a general classification based on their uniqueness: Stablecoins These are crypto tokens or coins linked to an existing stable asset to reduce its volatility. These coins may be linked to the US dollar, the euro, or any other stable asset like oil or gold. Some examples are Tether (USDT) and USD Coin(USDC), both are currently pegged to the US dollar. Stablecoins have a fairly higher level of security and profitability than other groups of altcoins. Utility or Service Tokens These are tokens that…
The post How to Identify Promising Altcoins: A Guide for New Investors appeared on BitcoinEthereumNews.com.
Investing in cryptocurrencies is one of the best ways to diversify your investment portfolio and increase interest exponentially. When managed properly, crypto price volatility can offer you a good return on your investment within a short period compared to traditional stocks. This has led to the global popularity of traders seeking new alternative coins to invest in. However, navigating the crypto market can be confusing for new investors. With over 17,000 altcoins currently in the market, making a good investment decision can be quite challenging. Here’s why we’ve provided this guide to assist you in identifying promising altcoins that will be good a fit for your investments based on their technology viability, market capitalization, and the team behind the project. What are Altcoins? Altcoins is the general term used to describe all other types of crypto coins and tokens issued after Bitcoin – the world’s first cryptocurrency. The term “Altcoins” was derived from the phrase alternative coins. These digital assets are being introduced to serve as an alternative to Bitcoin. After Bitcoin was issued in 2009, it had some significant drawbacks such as high fees and slow speed of transactions. To make up for this drawback altcoins were introduced and have indeed been able to achieve this. Every altcoin created is unique in its characteristics and use. Here’s a general classification based on their uniqueness: Stablecoins These are crypto tokens or coins linked to an existing stable asset to reduce its volatility. These coins may be linked to the US dollar, the euro, or any other stable asset like oil or gold. Some examples are Tether (USDT) and USD Coin(USDC), both are currently pegged to the US dollar. Stablecoins have a fairly higher level of security and profitability than other groups of altcoins. Utility or Service Tokens These are tokens that…
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