What is the next Bitcoin?
Below the top cryptos, lots of altcoins are shaping up to become the next Bitcoin. The mainstream is gushing about the big names nowadays. Little do they know, there’s also money in the underdogs below the top 10 list!
We’ll start with a basic rundown of how cryptocurrencies are doing. Then, we’ll check out the top 4 that you may want to add to your portfolio. Make sure you don’t miss out on their growth potential!
Crypto investing isn’t just about backing popular coins. It’s about finding the options that may one day reach the top. Support the right cryptocurrency, and you’ll earn huge rewards as they grow!
Rising stars in the crypto market
The crypto craze all started with Bitcoin’s launch in 2009. It was designed as a peer-to-peer, open-source digital currency. Simply put, it will allow transactions without the need for banks.
Instead, it uses blockchain technology. It’s a network of computers spread across the globe. These machines confirm each transaction and reward their users with more crypto.
People didn’t take this dream of decentralized finance (DeFi) seriously back then. Now, the cryptocurrency market has gripped the world’s attention.
Bitcoin (BTC) grew into the most prominent cryptocurrency. At the time of writing, one coin is worth around $56,000. Its market capitalization or market cap is roughly $1.06 trillion!
The media has its eyes on Bitcoin and Ethereum nowadays. If you look below the top 10, numerous altcoins may soon take their place.
For example, Dogecoin (DOGE) stands as the top 4. Tesla CEO Elon Musk’s tweets often rave about Doge. He even teased his appearance on Saturday Night Live as “The Dogefather”!
SNL May 8
— Elon Musk (@elonmusk) April 28, 2021
Other coins have been competing well too. They come with a better blockchain network and several other upgrades. Many of them have applications beyond DeFi.
Top 4 picks for the next Bitcoin
Cryptocurrency isn’t going to replace fiat very soon. Yet, several financial systems are getting into these digital assets. For instance, some say PayPal may launch a stable coin soon.
There is a lot of hidden potentials further in the crypto space. These coins got into the top recommendations as they could grow long-term value.
Take Dogecoin as an example. If you bought $1,000 worth of Doge in 2010, it would be worth $48 million in February 2021!
Buy them while the prices haven’t skyrocketed yet. Eventually, they’ll become more valuable and multiply your earnings.
People often see crypto assets as a way to get rich quickly. Blockchain technology is much more than a way to buy stuff, though. Ethereum (ETH) taps into this potential.
It enables smart contracts. These agreements don’t need a third party to verify them. They won’t execute unless its conditions are met. They have other use-cases besides finance.
Also, it lets people create non-fungible tokens (NFTs). The first one fetched a $70 million price tag. As a result, artists want to sell their works as NFTs for better profits.
Ethereum also enables decentralized applications (dapps). They’re like regular apps, but they’re powered by blockchain. Many of them let you buy NFT art and music.
Its crypto coin is called Ether. Just like Bitcoin, you could mine them. Include your PC in its blockchain network, and it could earn more cash for you!
Ethereum plans several upgrades in the future. This could make it far better than Bitcoin. As we said, it already has more uses.
At the time of writing, it’s reached an all-time high. It costs around $3,000 compared to Bitcoin’s $55,000. Based on its current performance, ETH might just beat BTC.
The cryptocurrency world is constantly improving. The coins always go for more updates. Cardano (ADA) is one of those cryptos. It’s meant to be a much better alternative to Ethereum.
It was made by one of the co-founders of Ethereum, Charles Hoskinson. That’s why it has similar features like smart contracts and dapps.
What sets it apart is its mining method. Ether mining takes a toll on the environment. Also, you’ll need a powerful PC. Those who can’t afford a fancy computer are just out of luck.
On the other hand, you can’t mine ADA. Investors must “stake” some of their coins in a Cardano pool. The more they allocate, the bigger the yields become.
This doesn’t require investors to have a high-end PC. Moreover, the system makes it more environment-friendly than Ethereum.
Ether mining uses massive amounts of electricity. This leaves a considerable carbon footprint. Some organizations are against other cryptos because of similar problems.
Cardano lets more people invest. As more people buy ADA coins, their prices will increase. This makes it a promising contender for Bitcoin.
Binance Coin (BNB)
People buy cryptocurrencies on online exchange platforms. As more people buy cryptos, they benefit far greater. They’ve grown so much that even Coinbase has a stock option.
Meanwhile, Binance has a cryptocurrency. Binance Coin (BNB) lets you spend on the exchange platform. It could pay for transaction fees and other services.
NFT trends continue upward. Also, more people buy and sell cryptos more than ever. This means Binance and its coin have a bright future ahead.
This crypto was meant as a joke. Billy Markus and Jackson Palmer grew tired of people taking the coins too seriously. One day, they found inspiration in the Doge internet meme.
Soon after, they released the meme coin into the world. Little did they know, Dogecoin (DOGE) would quickly become one of the largest cryptocurrencies!
What makes it appealing is its low price. Bitcoin is way too expensive nowadays. You could buy cheaper fractions of bitcoin or satoshis, though.
Dogecoin is still worth less than a dollar. This makes it ideal for long-term investment. Buy it cheap now, and reap the benefits as it grows!
What’s more, Elon Musk or “The Dogefather” backs the coin. His tweets alone cause massive price increases for the DOGE. His presence draws people into this crypto.
The support from Elon Musk encourages people to back the DOGE. That’s why Dogecoin could be a good investment in the long run.
How to invest in the next Bitcoin
Anyone who invests in cryptocurrencies starts with their preferred crypto exchange. Some examples are Binance, Coinbase, and Kraken.
Read all you can about the platform. See if its features work for you. It might not be available depending on your country. Here are the next steps after you picked a platform:
1. Create an account.
2. Wait for a few moments. You should get a verification email eventually.
3. Follow its instructions to confirm your account.
4. Choose one of your bank accounts, credit cards, or debit cards. Link it to your account.
5. Pick a cryptocurrency. The platform will show you the current prices.
6. Confirm your purchase. Your coins should appear in your account shortly.
This is how most crypto exchanges work. Note that your platform may have slight differences. Also, check if it has extra features. For example, Coinbase Pro has lower costs than the original.
Investors don’t stick with just one crypto asset. It would help if you researched other coins that may have huge potential. There are others like Bitcoin Cash (BCH), Litecoin (LTC), and Stellar (XLM).
Moreover, look for someone else who buys and sells cryptos. You may have a friend who could provide more crypto advice.
The internet provides all the knowledge and tools you need to start investing. However, it would help if you only supported what you’re willing to lose.
Learn more about the next Bitcoin
What will be the next Bitcoin?
It’s probably one of the cryptos below Bitcoin. These include Dogecoin, Ethereum, and Ripple. However, there are other coins further below that have potential as well.
Is it wise to invest in Bitcoin right now?
Yes, it would help if you got Bitcoin as soon as you can. You may want to watch out for a dip before buying, though. This lets you buy BTC at a lower price with more enormous long-term profits.
Is one Bitcoin enough to own?
If $55,000 is enough for you, then yes! Even better, its value continues to increase. You could still buy portions of bitcoin or satoshis at a lower price.