Guide to Top Altcoins
Guide to Top Altcoins of cryptocurrencies in existence, but only a few dozen or so have significant market capitalization and are commonly known as “alt coins.” Some, like Dogecoin (DOGE) and Shiba Inu (SHIB), belong to the group of meme coins, which gain popularity due to virality or other factors. These coins are highly speculative and can be very volatile.
Others are utility tokens, which are used to support a blockchain network. Some of these, like Ethereum (ETH) and Ripple (XRP), have become the host blockchains upon which almost all DeFi projects are built. Others, like Chainlink (LINK) and Cardano (ADA) are focused on scalability and sustainability. Finally, there are stablecoins, which are cryptos that aim to preserve their value by pegging them to a fiat currency like the US dollar.
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Knowing how to distinguish between these types of coins is important to make smarter investment decisions. Having a diverse portfolio of different altcoins is like having a toolbox with tools for every job. This way, you’re less likely to see your entire portfolio wiped out by one setback. In addition to studying the technical and economics of each coin, you should also take the time to read crypto journalism, seeking out expert reviews and user experiences. This can help you to identify any problems with a project and understand its potential for success. This can save you from the frustration that comes with investing in a cryptocurrency project that has not proven itself.…