Crypto Alternatives: Different Cryptos You Can Invest in to Potentially Generate More Income

Cryptocurrency’s popularity has gone over the roof this year, and many experts have shared their opinion on how it might become even better in the following years. Despite crypto having alarming risks, it didn’t seem to affect the spirit of investors. That’s why, if you haven’t started investing in crypto, now is potentially the best time to do so. 

If you are new to cryptocurrency, one of the things that you should is that there are currently thousands of different cryptos you can choose from. Aside from the top-performing cryptos in the market, there are other coins that were built for different purposes. If you choose the right crypto for your goal, your investment can come a long way. 

On the other hand, if you want to start with cryptocurrencies that could earn you more income, below are some of the best options you can choose from.

When it comes to buying the cryptocurrencies featured on this list, it’s important to choose reliable trading platforms with beginner-friendly services like Kraken or Bitcoin Up.

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Source: https://bitcoin-up.io/

Ethereum (ETH)

Going down the list of rankings for strong crypto coins in the market today, the next one along the line that isn’t Bitcoin would be Ethereum. So what makes Ethereum something that you should keep your eyes on?

Well, not only is Ethereum a decentralised software that can be used to develop new decentralised apps(Dapps) and new cryptocurrencies – it’s also its form of cryptocurrency.

If developers use the software that can be used to develop centralised apps, then the possibilities for new cryptos and decentralised apps would increase. Not to mention how Ethereum is currently the second-highest ranking in the crypto market – so it wouldn’t hurt to invest, trade, and buy Ethereum.

Binance Coin (BNB)

If you’re already a long-time in the crypto market, you would have heard about the world’s leading crypto exchange platform, Binance, right? They have their cryptocurrency that you can use to earn yourself some extra cash! If you’re using the Binance coins to pay for the fees that Binance has when exchanging, you will get a discount. Great for those who want to utilise lower trading fees.

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Cardano (ADA)

What’s interesting about the history of Cardano is that it was created by cryptography experts, engineers, and mathematicians with a more research-based approach. Cardano was co-founded by one of the five founding members of Ethereum. Still, he left Ethereum because he didn’t like their approach and decided to create Cardano.

Cardano is deemed the Ethereum-killer since it’s been said their blockchain could be more capable than Ethereum. Although still in its early stages, its proof-of-stake model is already better than what Ethereum offers and is currently ranked 6th in the cryptocurrency market. It can’t compare to Ethereum if we’re talking about decentralised financial applications.

Solana (SOL)

Solana was first developed to help spearhead decentralised finance, decentralised apps, and smart contracts. Though now its cryptocurrency with its proof-of-stake and proof-of-history mechanics helps it quickly and securely process all of the transactions and exchanges that go on with Solana. SOL is the cryptocurrency that is currently being used within its native platform.

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Dogecoin (DOGE)

Dogecoin is probably the first coin to emerge in the crypto market as a meme coin. Its price skyrocketed this year because of the support garnered from many meme lovers. Funnily enough, the crypto coin uses the very Shiba Inu meme as its avatar and is completely accepted as payment in plenty of companies in the US – namely SpaceX, the aerospace manufacturing company owned by Elon Musk.

Conclusion

Many of these cryptocurrencies exist on a blockchain since many of them are blockchain-based. This means anybody who has internet access can exchange with peers or even get into contracts without having to be constrained by third parties like banks. 

You’ll need to do some additional research if you’re going to invest in one of these coins fully and start with a reputable crypto exchange.

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