Friday, January 21

Six altcoins that have swept Bitcoin


Bitcoin’s 366% growth in the last 12 months is staggering when compared to stocks like Tesla (up 202% in a year) or Apple (up 37%).

Compare that to the performance of these six heavyweight altcoins (an altcoin is a non-Bitcoin cryptocurrency) over the past 12 months:

Source: Revix

All of the above are offered as standalone cryptocurrencies by the Revix cryptocurrency platform (which also offers investors the opportunity to acquire crypto as part of a ‘bundled’ investment, such as the Top 10 Bundle, which distributes their investment equally among the investors. Top 10 Cryptos as Measured by Market Cap).

This article analyzes the case of investing in these cryptocurrencies as independent investments.

First of all, it should be noted that the chart above shows some truly remarkable 12-month returns, but these are historical returns and there is no guarantee that this rate of gain will continue.

But strong arguments can be made for including them in a diversified crypto portfolio, according to Brett Hope Robertson, an investment analyst at Revix.

“What we are witnessing is something that rarely happens in the investment arena: the emergence of a completely new asset class. Like the emergence of the internet, blockchain technologies are adapting [to] the way we interact in our daily lives and we are still a bit far from mass adoption, ”he says.

“These adoption cycles can be extremely fast; Before you know it, technology is part of your daily life. With this rapid adoption, the opportunity arises to benefit from the winners of this race, but there is also the risk that 95% of them will lose. Therefore, an educated and diversified approach is always recommended when investing in new technologies. “

Here is a brief explanation of the six altcoins, their function, and the technology behind them:

6th – Uniswap (+1 041%)

Uniswap is the world’s largest decentralized exchange and its UNI token provides exposure to the emerging world of decentralized finance (DeFi).

The Uniswap digital exchange is designed to facilitate the exchange of Ethereum (ERC-20) tokens. Think of it as the decentralized version of the New York Stock Exchange. The difference is that Uniswap does not have a central operator or administrator, which makes it completely decentralized.

Unlike most exchanges, which are designed to charge fees, Uniswap is designed to function as a public good, a tool for the community to exchange tokens without intermediaries. Also, unlike most exchanges, which bring buyers and sellers together to determine prices and execute trades, Uniswap uses a simple mathematical equation and pools of tokens and ETH to do the same job.

UNI is the token that powers Uniswap: anyone who owns the cryptocurrency can participate in the governance of the protocol.

5th – Ethereum (+1 060%)

Ethereum is an open source decentralized blockchain system that features its own cryptocurrency, Ether (ETH). ETH works as a platform for many other cryptocurrencies, as well as for the execution of decentralized smart contracts that allow users to transfer, lend, borrow and earn interest on their cryptocurrencies, all without any human intervention (this is why they are called ‘smart contracts ‘).

Ethereum’s goal is to become a global platform for decentralized applications, enabling users around the world to write and run software that is resistant to censorship, downtime, and fraud.

“ETH is ideal for both beginners and veterans in cryptocurrencies, as it is one of the largest, most proven and most reputable cryptocurrencies,” says Hope Robertson.

4th – Moles (+1 200%)

Polkadot (DOT) is a blockchain designed to connect the dots with all other blockchain networks. It is commonly known as a multi-chain blockchain network because it can link different networks together.

Polkadot essentially provides the infrastructure that other blockchains can use to interact with each other securely. Polkadot has been designed with one purpose in mind: to tie together an entire network of blockchains, from Bitcoin to Ethereum and everything in between.

This allows developers to customize the specific features they want, giving them the flexibility to choose those parts of the Polkadot network that suit their project and steer clear of those that don’t.

“As it is, developers have to choose which blockchain to build their applications on. Each chain is unique and has its own strengths and weaknesses that developers must weigh when deciding where to develop. So many blockchains make different trade-offs to support specific features and use cases, and as blockchain specialization increases, the need to transact between them will only increase over time, ”says Hope Robertson.

3rd – Binance Coin (+ 1860%)

Binance Coin (BNB) is the native cryptocurrency of the Binance network.

Binance is one of the largest cryptocurrency exchanges in the world and has its own blockchain, Binance Smart Chain.

BNB was created as a utility token for the Binance exchange. BNB’s original use case was to offer Binance users discounted trading rates when paying in BNB. However, since then, BNB has become much more useful, allowing holders to access Binance features including trading, investing, earning interest, borrowing, borrowing, and much more.

Binance Smart Chain offers similar features to Ethereum, Cardano, and Solana in that it seeks to allow an ecosystem of DApps (decentralized applications) to operate on top of its network.

2nd – Cardano (+ 2038%)

Cardano (ADA) is a third generation blockchain that offers smart contract functionality and uses ADA as its native cryptocurrency. Cardano offers similar features to Ethereum with the advantages of handling a higher number of transactions per second, operating at a lower cost and with greater energy efficiency.

ADA holders use their coins to vote on improvements or amendments to the Cardano blockchain, thus participating in its development.

1st – Solana (+13 878%)

Solana (SOL) is a blockchain network that seeks to develop an ecosystem of products and services powered by cryptocurrencies. Some have labeled it an ‘Ethereum killer’ because it set out to rival Ethereum, but with faster transaction settlement times, lower fees, and a scheduling ability that focuses on flexibility.

Currently, Solana can handle more than 50,000 transactions per second, more than Ethereum and Bitcoin combined, and at a fraction of the cost.

Developers can also write and launch customizable applications known as DApps in multiple programming languages ​​on the Solana blockchain.

Solana’s native cryptocurrency SOL is used to pay for running custom programs and sending transactions.

There is the potential for ETH and SOL (as well as Cardano and Polkadot) to coexist with each other in this evolving universe of DeFi, which competes with banks, insurers, and other traditional players in the financial space.

“There is a good case to be made for owning some of these cryptocurrencies as standalone, as they all rank in the top 10 cryptocurrencies, measured by market capitalization,” says Hope Robertson. “As always, care must be taken to diversify one’s portfolio to avoid excessive concentration on a few cryptocurrencies.”

Revix: zero purchase fees in major altcoins

Revix, a Cape Town-based crypto investment platform, offers crypto investors an excellent opportunity to add high-yielding large-cap altcoins to their portfolios.

Between November 5 and 11, you will pay zero fees when you buy Cardano, Uniswap, Moles, Solarium or Binance Currency on purchases made with ZAR or GBP.

Revix is backed by JSE-listed Sabvest, offering access to all the individual cryptocurrencies mentioned in this article, such as Cardano, Ethereum, Polkadot, Solana, and many more.

You can start with as little as R500. Signing up is quick and effortless, and you can withdraw your funds at any time.

About Revix

Revix brings simplicity, confidence and excellent customer service to the investment. Its easy-to-use online platform enables anyone to securely own the world’s top investments with just a few clicks.

Revix guides new clients through the registration process to their first deposit and first investment. Once configured, most clients manage their own portfolio, but can access support from the Revix team at any time.

For more information please visit www.revix.com

This article is intended for informational purposes only. The opinions expressed are not and should not be construed as investment advice or recommendations. This article is not an offer, nor is it a solicitation of an offer, to buy or sell any of the assets or securities mentioned herein. You should not invest more than you can afford to lose, and before investing, consider your level of experience, your investment objectives, and seek independent financial advice if necessary.

Presented by Revix.

Moneyweb does not endorse any product or service that is advertised in sponsored articles on our platform.


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