Altcoins are cryptocurrencies other than Bitcoin. There are a lot of altcoins popping up every day in the market, choosing the best altcoins to buy is not that easy. With the total cryptocurrency market cap at $1.82 Trillion, altcoins alone constitute more than $1 Trillion of the total cryptocurrency market cap.
In this article we will explore some best altcoins to buy in 2022 and why they can change your life in a few years.
10 Best Altcoins to Buy 2022
- Ethereum(ETH) - Top Altcoin in Marketcap
- Binance Coin(BNB) - Top Crypto currency Exchange in the world
- Polkadot(DOT) - Best Smart Contracts Platform
- The Sandbox(SAND) - Best Metaverse Crypto
- Uniswap(UNI) - Top Decentralized Exchange
- Polygon(MATIC) - Top Ethereum Layer 2 Platform
- AAVE(AAVE) - Decentralized Borrowing & Lending
- Basic Attention Token(BAT) - Decentralized Advertising platform
- Filecoin(FIL) - Top Decentralized Storage
- Chiliz(CHZ) - Top Sports crypto
1. Ethereum(ETH) - Top Altcoin in Marketcap
Ethereum is the best cryptocurrency after Bitcoin. Ethereum is the platform for building decentralized applications and non-fungible tokens. All top decentralized applications are running on Ethereum. ETH is the native currency of the Ethereum network and it is used to pay transaction fees on the network. Ethereum has recently implemented a hard fork that burns ETH gradually. Ethereum is also going to implement ETH 2.0 in the coming months to increase scalability and lower fees.
2. Binance Coin(BNB) - Top Crypto currency Exchange in the world
Binance is the largest crypto currency exchange. Binance supports 365 cryptocurrencies and has a daily trading volume of $20 billion on average. Binance Coin or BNB is the exchange token of Binance. BNB is used to get discounts on trading fees on the Binance exchange. BNB is also used to participate in various activities and in Binance Launchpad. BNB is recently changed its name to 'Build and Build'. BNB is also used to pay transaction fees on Binance Smart Chain(BSC). BSC is similar to Ethereum but transactions are way cheaper.
3. Polkadot(DOT) - Best Smart Contracts Platform
Polkadot is the upcoming smart contracts platform that uses parallel chains called Parachains. These parachains act as individual blockchains for distributed computing. Gavin Wood, co-founder of Ethereum is the creator of Polkadot. DOT is the native token of the Polkadot network. DOT is used to stake and elect parachains and earn rewards. Polkadot is said to improve the scalability and adoption of blockchains.
4. The Sandbox(SAND) - Best Metaverse Crypto
Sandbox is a virtual world in which users can own, create, build, buy and sell digital assets. Sandbox leverages blockchain and NFTs which have enabled ownership of digital assets. SAND is the utility token that enables the purchase of LAND in Sandbox. After Facebook has renamed itself to Meta, SAND has become popular as it is considered as one of the Metaverse platforms. Sandbox enables users to be creators and gamers simultaneously.
5. Uniswap(UNI) - Top Decentralized Exchange
Uniswap is the number one decentralized exchange that is built on the Ethereum network. Uniswap enables you to swap cryptocurrencies right from your Ethereum wallet. You don't need to get registered or KYCed on any centralized exchange. Uniswap has an average trading volume of $2 billion every day. UNI is the governance token of the Uniswap protocol. UNI holders can vote for the betterment of the protocol. Users can also add liquidity to earn rewards.
6. Polygon(MATIC) - Top Ethereum Layer 2 Platform
Due to the recent surge in decentralized applications on Ethereum, the gas fees or transaction fees have skyrocketed and the network also has scalability issues. Polygon aims to solve these issues as an Ethereum layer 2 platforms. Transactions take place on Polygon for low fees and they are batched and settled on Ethereum(Layer 1). MATIC is the native token of the Polygon network. MATIC can also be staked to earn staking rewards and to pay transaction fees on the Polygon network.
7. AAVE(AAVE) - Decentralized Borrowing & Lending
AAVE is a decentralized borrowing and lending protocol. Users can borrow and lend to other users without any intermediaries. AAVE issues collateralized loans. For example, users can deposit their ETH to borrow USDT or vice-versa. It is similar to banks issuing Gold loans. AAVE is the governance token of the AAVE protocol. AAVE users can vote and decide the future of the protocol.
8. Basic Attention Token(BAT) - Decentralized Advertising platform
Basic Attention Token(BAT) is issued for the Brave web browser. Brandon Eich, the founder of Java Script, created Brave browser. Users are rewarded in BAT for privacy-respecting ads. Publishers can verify with the Brave browser to receive BAT tips from the users. Using Brave browser advertising, advertisers can achieve higher ROI, better targeting, and reduced fraud. Brave browser has 20M monthly active users worldwide.
9. Filecoin(FIL) - Top Decentralized Storage
Filecoin is a decentralized storage platform. Filecoin aims to store data in a decentralized manner unlike cloud storage offered by Amazon Web Services or Google Cloud. FIL is the native currency of Filecoin. Nodes compete to store data of clients for a specific length of time. FIL incentivizes nodes to act honestly by rewarding them for their storage.
10. Chiliz(CHZ) - Top Sports crypto
Chiliz issues fan tokens of famous sports brands across the world. Users can participate in the governance of their favorite sports brands. Fans can purchase CHZ and get access to various fan tokens and can have a stake in popular clubs like FC Barcelona, Manchester City, Juventus Turin etc.
*Cryptocurrencies are highly volatile and risky. Invest only what you can afford to lose.
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