4 New Cryptocurrencies You Need In Your Wallet

Much of the crypto community looks for quality in the whitepapers released by a cryptocurrency's creators. Cardano has written over 90, showing research matters a great deal to the team. This coin was trading for just a few cents a year ago. But it's rocketed as high as $1.56 since then. From $0.05 to $1.56 is more than a 3,000% return.

That's huge. But the greatest benefit of holding a cryptocurrency will be experienced in the long-term. People want a secure, well-designed cryptocurrency that can hang around for a while. Like Ethereum, the usefulness of Cardano is in its proof-of-stake consensus model.

Staking is an alternative to "mining." For actively validating transactions of the currency, you get more currency as a reward. The more you stake, the higher your rewards.

Unlike Ethereum, Cardano is deflationary; there is a limited supply. That means the value of Cardano becomes increasingly scarce the more is mined, which is a value-add to holding the currency. Cardano's vision is to establish decentralized financial products for the whole world and validate other contractual agreements with its blockchain.

Polkadot Brings Blockchains Together

Polkadot is another proof-of-stake coin with a slightly different purpose. Its goal is to bridge gaps between different blockchains. The best way to look at this is like a building where different blockchains can meet and talk to each other in the same language, even if they spoke different languages outside the building.

Polkadot also connects oracles, which are the trusted sources of online data for settling smart contracts. So, this coin really wants to serve as the prime connector of all things crypto. The coin was also founded by a founder of Ethereum who didn't like the way things were going.

Multiple projects are using Polkadot now, and its popularity is accelerating. Polkadot stands around a $30 billion market cap. This coin is up 1,130% in the last year, from a few cents to $33. Of course, it will soar much higher if adoption increases and it becomes a primary source for connecting blockchains and oracles.

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Disclaimer: Any performance results described herein are not based on actual trading of securities but are instead based on a hypothetical trading account which entered and exited the suggested ...

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Bitcoin Bandit 1 month ago Member's comment

How are these "new?" Newer than Bitcoin, sure. What not exactly new.

Andrew Armstrong 1 month ago Member's comment

To crypto investors that's true. But I doubt lay investors have ever heard of these lesser known cryptocurrencies.