Looking to diversify away from rapidly deteriorating fiat currency, and into something affordable that could produce 2x, 3x, 5x gains or more? Anything’s possible in the world of cryptocurrency, but they’re not all created equal.
Bitcoin and Ethereum are fine, but their prices have gone up considerably over the past few years. Frankly, it’s easier to get multi-bagger returns from a token that costs less than $50, than one that’s trading in the quadruple or quintuple digits.
With that in mind, here’s a sampling of three interesting crypto coins to consider adding to your portfolio. Just please keep in mind that these are highly volatile assets, so don’t invest any capital that you can’t afford to lose.
Ethereum isn’t the only cryptocurrency that’s associated with smart contracts. Another one is Chainlink (LINK), and its main idea is to expand “the capabilities of smart contracts by enabling access to real-world data and off-chain computation.”
A white paper which explains the Chainlink network’s main ideas observes that traditional blockchains on which smart contracts run aren’t able to support “native communication with external systems.”
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To solve this problem, Chainlink’s purpose is to furnish a decentralized oracle network which would allow smart contracts to “provide connectivity with the outside world.”
In other words, by furnishing a decentralized oracle network, Chainlink allows smart contracts to gain external connectivity. For a good analogy, you might think of the network as a bridge between conventional blockchains and the external, “off-chain” world.
Ready to take a position in Chainlink? At around $30 apiece, LINK isn’t the cheapest currency on this list, but it is based on an idea whose time has come.
If your budget only has room for the cheapest of coins, then VeChain (VET) should be right up your alley.
At around 12 cents, the VET coin probably won’t break your bank – and it’s truly unique among digital currencies.
That’s because it’s a crypto coin based on logistics – meaning, it’s focused on to helping to move goods and services across the global supply chain.
The VeChain white paper uses the food supply chain as an example of how there’s a need to improvement in logistics. The food industry is plagued by transparency and assurance issues, which can sometimes even lead to health problems for consumers.
But on the VeChain network, data is “time stamped and cryptographically signed” by the party that’s producing it. Plus, essential information will be secured by the blockchain, such as the source and ingredients of the products, the geographic location, logistics information, and inspection report, and even temperature data.
That’s just one example of how VeChain is addressing global supply chain issues today. If you’d like to support this cause while possibly also fattening up your trading account, then consider the VET token.
Courtesy: Hedera Hashgraph
It has an unusual name, but Hedera Hashgraph (HBAR) deserves the attention of any crypto trader with a penchant for into ESG (environmental, social and governance) investing.
You might call it a “green crypto” – technology’s answer to the issue of some other cryptocurrencies consuming a lot of energy.
How is Hedera Hashgraph cleaner and greener than many other tokens? It uses reduced bandwidth and energy by using a proof of stake concept instead of proof of work.
As the Hedera Hashgraph white paper observes, a major problem with proof of work, “winner-take-all” networks is that the “mining nodes expend energy to try to solve the cryptographic puzzle, but only the winner receives a payment.”
The Hedera Hashgraph network, on the other hand, has a less competitive system in which “no energy is wasted, as nodes do not expend energy on useless math problems, but directly on communicating, validating, and supporting transactions.”
This means that the miners aren’t rewarded for expending large amounts of energy to compete with each other. It’s a highly evolved and mindful model for a crypto network – and by the way, the HBAR tokens are a steal at just 22 cents apiece.
So, if you’re in the mood for a currency (or two, or three) with something different to offer, try these digital coins and just maybe, you’ll enjoy some powerful blockchain-based gains.
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