Altcoin trading

As per reports, more than 5000 altcoins are present in the crypto market globally. Identifying the best altcoins to invest in is difficult, especially when you are just starting.

So, we have prepared a list of the most ideal altcoins after studying market cap, current price, volatility, liquidity, risk, community, and many other factors:

Litecoin

Litecoin got the first place in our top altcoins list with a market cap of around 5 Billion. It was developed in 2011 to counter the issues related to Bitcoin mining.

Litecoin is the most popular alternative for Bitcoin and its features are quite similar to it. You can identify significant price swings in this altcoin prices since its launch. Also, the crypto coin is available on every crypto exchange, and broker platform. So, traders from all around the world can easily get access to them.

XRP

XRP is a cryptocurrency developed by a software company named Ripple Labs. The major aim behind its development is to increase the efficiency of cross-border transactions.

Many traders prefer XRP over Bitcoin due to its cost-effectiveness and low energy requirement. XRP is based on the pre-mined model with a supply limit of 100 Billion.

It is based on open-source blockchain technology and follows a proper mechanism. So it is amongst the most promising crypto to invest in with many benefits.

Solana

Solana is another altcoin renowned for its scalability and fast-paced transactions. It is considered a prominent rival of Ethereum with lower transaction costs. So if you are looking for an Ethereum alternative, Solana can be the best altcoin to buy.

Many cryptocurrencies are based on proof of work mechanism that makes them slow. However, Solana is based on the proof of history mechanism, making it a more suitable option for altocoin trading. Solana was launched in 2020, and within four years, the crypto has significantly expanded its market.

USDC

USDC is becoming increasingly popular amongst traders and investors these days. Like tether, the altcoin is pegged against USD and tries to maintain its value similar to USD.

Cryptocurrencies are the most volatile asset and are the riskiest to trade. So new crypto traders who fear volatility can consider stable altcoins like USDC.

Further, if you are a forex trader then it is the most promising crypto for you. As USDC is affected by all the factors that affect US Dollars. Thus it became easy for you to predict the rise and fall and make trade decisions effectively.

Binance

Binance is an altcoin by the largest cryptocurrency exchange platform. The coin is widely used for paying transaction fees for trading services. The main reason for its popularity is the exclusive rewards and discount offers.

Binance Exchange has a large community of traders and investors globally. And, the platforms encourage traders to transact using Binance coins by offering bonuses. As a result, traders started using BNB and are now amongst the most traded altcoins.

Dogecoin

The above altcoins are based on complex blockchain technology, proof of work, or proof of stake mechanism. However, a dogecoin is developed due to a joke. It is the coin that gave birth to meme coins and many other coins were also developed similarly.

Dogecoin has a similar importance in the meme coin world that Bitcoin has in the crypto market. It was launched in 2013 with the image of a Shiba Inu dog as its logo. It started as a joke that became viral on social media and frequently got the attention of traders.

The meme coin saw a significant rise and fall in history. It has become a popular option for altcoin trading amongst crypto traders. However, it is the most volatile coins that lack proper technology and involve a potential risk.

Cardano

Cardano was founded by Charles Hoskinson, one of the founding members of Ethereum who left the project due to some disagreement. He later cofounded Cardano an updated version of ETH, thus the altcoin also known as Ethereum Killer.

Cardano uses Ouroboros proof of stake mechanism and has the most environmental family blockchain. The altcoin is developed after in-depth research by a team of experts. With a market cap of around 14 Billion, Cardona is amongst the best altcoins to invest in.

Shiba Inu

Shiba Inu is another popular meme coin that is catching all the eyeballs of traders. Many people in the market believe that it has significant growth potential. The altcoin is represented by Shiba Inu, a Japanese breed of hunting dog. It was created in 2020 and has no value till 2023.

However, in the last year, the coin saw potential price movement and formed a large community of traders. Even after a huge community and price swings, being a meme coin, Shiba Inu is quite risky to trade.

Stellar

Stellar is popularly known as a competitor of XRP. It is based on the decentralized peer-to-peer framework. The main aim behind the development is to make any kind of transaction smooth by using it. The altcoin was developed by Jed McCaleb, who was chief technology officer of Ripple.

Stellar has premium features like ease of use and access, fast transaction speed, support for multiple assets and currencies, and much more. In addition, secure storage features and support from global giants, make it a suitable option to invest your money.