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With all the different cryptocurrencies and interesting projects out there, it’s disappointing to see how many people are still stuck on Bitcoin or Ether. These are both great coins, don’t get us wrong, but you are seriously limiting yourself by looking at them only. Most of these coins are slightly overvalued and if you weren’t there to invest in them early, then you may have missed out on most of their growth. New, more obscure coins, on the other hand, have much more potential and one might break out at any given time. This is why it’s important to play the field and look at all your options. Here are some of the altcoins you should look at in 2022.
Litecoin
Many people referred to litecoin as silver to bitcoin’s gold, and it’s a somewhat apt comparison. One thing that separates the two coins, however, is that litecoin was made to be a true transactional coin. While bitcoin tries to present itself as a true currency, it’s largely unusable as such. The transaction fees are so high and take so much time to be confirmed. There’s also the limited supply that will eventually cause issues. Litecoin solves both of these issues and has a chance at becoming an actual currency one day and is also a great gateway coin that you can use on virtually any exchange, so you need to at least have some.
Tether
Tether is a stablecoin and you should hold a few of these in your wallet too. Stablecoins are, as their name implies, attached to a stable asset, in this case, the US dollar. The goal of stablecoins is to allow people to have easy access to cryptocurrency markets and exchanges without the volatility that comes with cryptos. This is because many crypto exchanges will not accept fiat. If you don’t want to go through the trouble of finding altcoins just so you can trade, however, then you can go for one of the few exchanges that allow you to directly exchange fiat for crypto, like Cryptology, for instance.
XRP
The opinion on XRP is not unanimous in the community. This is because XRP is a largely centralized cryptocurrency made for legacy systems. This pretty much goes against everything religious crypto investors stand for, but if you’re not ideological, then you need to have some of these in your wallet. Since they have a governing board behind them, actions can be taken to promote stability. It is also one of the only coins with a clear demonstrable use case that is being actively used in that capacity. So, if you still believe in mainstream banking institutions and would like to invest in a coin that will bridge the gap between traditional banking and the crypto world, get some XRP.
These are some of the top altcoins that should be on your list for 2022. They all have something interesting to offer and have lots of potential, so read about them in more detail and keep scouring the altcoin space for the next big opportunity.
Reviewed and edited by Albert Fang.
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Article Title: 3 Altcoins Everyone Should Have in their Wallet in 2023
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