Morning Brew Altcoins Guide – Morning Brew | Omd Cialis

Bitcoin has long been the star attraction in a crowded crypto market: McDonald’s in a neighborhood full of promising but untrustworthy deals. For more aggressive investors, this uncertainty could mean a get-rich-quick opportunity with an unexpected gem. For others, the risk may be enough to steer them to the safety of McNuggets.

Enter the altcoin — the term for essentially any cryptocurrency that isn’t bitcoin. (Yes, even well-known coins like Ether.) There are thousands of altcoins floating around, made for everyone from the impulsive crypto dreamer to the ever-nervous crypto doubter.

Altcoins are not exempt from the crypto winter that has sent digital currency prices plummeting. There is a lot of uncertainty surrounding altcoins, but freezing presents interesting opportunities: each coin is effectively competing for the least catastrophic drop into the red and the fastest bull run as the market recovers.

Which altcoin would be right for you? It depends on your priorities and your willingness to take risks. Here are some of the most popular altcoins:

Baby’s First Altcoin: Avalanche (AVAX)

Avalanche could be a really good choice for altcoin beginners. AVAX runs on a blockchain platform with an emphasis on fast transactions and low costs.

Many users are choosing AVAX, the Avalanche blockchain’s native cryptocurrency, as a currency that sits and grows passively. In a market with heavyweights that can cost you thousands of dollars a coin and pennies struggling to be worth a Lincoln, AVAX draws a pretty good line between affordable and worthwhile.

The Conservative Investor’s Altcoin: Binance USD (BUSD)

This might be the one you should write your grandpa about – if your grandpa is a crypto enthusiast. Launched in 2019, Binance USD strikes a good balance between user-friendly functionality and overall security. It’s also traded on the already established Ethereum blockchain and pegged to the US dollar, putting it in line with other stablecoins. (ICYMI – Stablecoins are cryptocurrencies pegged to a stable asset like the US dollar or gold.)

Unlike most digital currencies, it’s also regulated by a government agency: the New York State Department of Financial Services, which ensures crypto deals are fair to consumers. (Indeed, the same department has been investigating crypto exchange platform Coinbase since February for potential violations of the Bank Secrecy Act.)

While stablecoins offer a less scary crypto experience, they are still subject to market volatility and are not comparable to widely accepted stable assets like bonds. Still, this could be desirable, especially as the current bear market drags on.

The coin with a mission: Cardano (ADA)

Created in 2017 by Charles Hoskinson, one of the founding members of the Ethereum platform, the ADA coin shows promise: it is proof-of-stake crypto, which means that no crypto mining is involved, but other users on the network are involved incentivized to validate transactions by “pinning” their own ADA on its reliability and it’s a rising star. Cardano’s framework has been backed by over 100 peer-reviewed articles.

Cardano even carries the distinction of being an “Ethereum killer,” according to crypto fanatics who say its blockchain is superior. Its mission is to build a connected, decentralized system for its users and for those who don’t have access to proper banking services. The coin has traded at around 50 cents since the crypto freeze, but has always been fairly affordable.

Stablecoins old brother: Dai (DAI)

The dai stablecoin is a cryptocurrency that runs on the Ethereum blockchain and has proven to be a fairly stable choice in a memecoin-plagued market. The MakerDao organization that creates the coin pegs the coin’s value to its collateral to try to keep its value as close to $1 as possible. (MakerDao users vote on Ethereum-based assets to use as collateral for the Dai coin.)

Despite its base on the Ethereum blockchain, Dai is much more consistent than Ether: users can rest easier since transactions are based on verifiable code and not on mutual agreement between humans like Ether. MakerDao’s mission with dai is to offer investors and consumers a non-volatile alternative to other cryptocurrencies, and while dai has had an impressive run and stayed extremely close to a dollar, it is still susceptible to the same volatility as other altcoins.

The one for aspiring Edgelords: Dogecoin (DOGE)

The meme that became memecoin, that became surefire investment, that became memecoin remains one of the most popular altcoins.

Dogecoin started out as a meme to poke fun at Bitcoin in 2014, but after the infamous subreddit r/WallStreetBets garnered screams promoting the crypto and a shout out from Elon Musk, the coin quickly rose to the top 5 cryptocurrencies by market cap. It runs on its own Proof-of-Work blockchain, but since there is no cap on how many Dogecoins can be created, it is subject to severe inflation.

Despite the recent drop in value, Musk has remained supportive. On June 21, he said, “I intend to personally support Dogecoin because I just know a lot of people who are not that wealthy and have encouraged me to buy and support Dogecoin, so I am responding to those people.”

However, the internet hype surrounding the coin is really all that goes in its favour, as it has been a frequent target of user inflation. In 2021, CoinDesk outlined the top five Dogecoin pump-and-dump schemes that are so prevalent at the coin that there could be a top 5 list. Dogecoin started out as a joke and a coin to play around with, not a legitimate investment, and it has largely remained so. Despite Musk’s support, it’s worth remembering that he has come under fire for using his fame to profit from Dogecoin’s inflation mechanism.

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The “Your First Album Was Better” Coin: Ethereum (ETH)

Once considered the Bitcoin killer, Ether has earned its place as the most popular altcoin in the seven years since its official launch. Next month it will transition from a proof-of-work concept to a proof-of-stake concept, freeing it from the energy-intensive mining that has fallen out of favor with government skeptics and energy enthusiasts. Still, the powerhouse remains vulnerable to the cold of the crypto winter: despite returning to a price point around $1,700, NextAdvisor data shows Ethereum is down 77% year-to-date since July 8.

The Futurist’s Altcoin: Polkadot (DOT)

Founded by Gavin Wood, a key member of the Ethereum founding team, DOT is a proof-of-stake cryptocurrency focused on transforming how blockchains are used. While other cryptocurrencies try to juggle the three blockchain variables – decentralization of large financial institutions, speed of processes and security of transactions – they usually only successfully manage two at a time. Polkadot hopes to address all three by allowing different blockchains to work together in a secure and fast way (eg, users on Polkadot’s blockchain can interact with users on another blockchain while remaining on Polkadot’s secure network).

Having weathered the crypto winter better than most other cryptocurrencies, Polkadot’s technology is giving investors hope that the coin will remain a major player. As of now, it’s also fairly affordable: a DOT coin probably won’t get you more than $10.

Frivolous Investor’s Altcoin: Shiba Inu (SHIB)

Don’t confuse SHIB with Dogecoin, which uses the same breed of dog as its mascot – in fact, the SHIB coin calls itself the “Dogecoin Killer.” Notice a trend? Every coin in the multiverse of cryptocurrencies is a killer and Has a murderer.

But the price of a single SHIB coin is well under one cent, and trillions of the coin are currently in circulation. The coin peaked in October 2021 but has lost almost 70% of its value by July 2022. The company’s move to sever ties with Ethereum and launch its NFT minting service should be SHIB’s hope for the future, but NFTs are now suffering their own freeze. OpenSea, the largest NFT marketplace, announced in early July that 20% of its employees would be laid off.

“Crypto is the new Venmo” Coin: Solana (SOL)

Despite the recent bumps in the Solana platform’s efficiency, the SOL coin offers a major alternative to the leading altcoin, Ether. It is miles ahead of ETH in transaction time: SOL can process thousands of transactions in a single second.

This is due to Solana’s proof-of-history blockchain, on which existing functions, known as Verifiable Delay Functions (VDFs), predict transaction times and are verified afterwards. This makes SOL transactions look more like a Venmo to your friend and less like a lengthy bank transaction.

In addition, solana does not require the mining procedures associated with proof-of-work models, thus avoiding the environmental damage associated with traditional mining. However, this opens up the platform to bugs and platform issues that have caused the coin’s price to drop sharply over the past few months. Investors are still hoping for this innovative coin.

Daredevil’s Coin: Tether (USDT)

Developed as a realcoin in Hong Kong in 2014, Tether is an aptly named “stablecoin” that works on a number of different popular blockchains. Stablecoin is in quotes because Tether is kind of a stable coin and kind of isn’t.

The company once claimed that each USDT coin was backed by one US dollar. But after being snubbed by the New York Attorney General, the company released a list of what the coin was tied to: a large amount of cash reserves, commercial paper (money the company owes Tether), and money market funds (funds with cash). and other low-risk securities). Of some concern is the inclusion of commercial paper, which is difficult to convert to cash.

In May, investors withdrew nearly $10 billion from Tether in just a week and a half after concerns about its stability. Still, the coin’s price fell by less than two cents.

The Nervous Investor’s Coin: USD Coin (USDC)

USDC coin, not to be confused with Tether’s USDT, is the light in the dark for investors too cautious to dip their feet in crypto. Each USDC unit is pegged to one US dollar through cash reserves and bonds, strengthening the coin against speculation and trend volatility.

The value of the coin has never changed by more than three cents since its creation. But making money isn’t the only benefit of holding crypto – it also allows you to eliminate the middlemen between transactions. Whether you’re paying a friend back after a night out on too many Moscow Mules, or doing something we won’t mention here, USDC is a great way to keep it between the two beneficiaries.

If you are put off by the “get rich quick” or “get broke quick” nature of more unstable altcoins and just want to use a decentralized currency for reasons, USDC is for you.

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