There are over 4,600 different cryptocurrencies that can be invested in. Most of them are considered altcoins. These are small and opaque cryptocurrency projects trying to get off the ground. While technically any currency other than mainstream tokens like Bitcoin is considered altcoins, most people consider altcoins to be any project that isn’t in the top 10 cryptos by market cap.

Regardless of how you choose to define an altcoin, there are thousands of them available in the markets right now. Most of them have a market cap of less than $ 10 million and probably won’t even exceed that number. If you are wondering exactly where to look for a promising altcoin investment, here is everything you need to know.

Promising altcoin projects

Some altcoin projects are dedicated to addressing the existing challenges of current blockchain platforms. Cardano (ADA) falls into this category. The project, founded by Ethereum co-founder Charles Hoskinson, is touting Ethereum as the next and features faster transaction speeds, processing capacity and overall lower fees.

Source: Cardano Facebook

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Polkadot (DOT) is another alternative that addresses the current limitations of blockchain technology. Polkadot allows crypto projects to develop their own parallel blockchains that can be easily integrated with other blockchains such as Ethereum. In this way, projects that were not created in the Ethereum network can also be linked via these Polkadot sidechains.

One of the main attractions of cryptocurrency is its decentralized, private nature. It is this idea of ​​giving people back a sense of privacy that has been lost with the growth of regulated banking and financial services. Monero (XMR) touts as the world’s first non-trackable currency that allows anyone to sell crypto without being tracked.

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All three projects are also among the top 30 cryptocurrencies by market capitalization. There are also many other promising projects. Just make sure that any altcoin you choose has a legitimate, long-term use case.

Source: Pixabay

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