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7 best cryptos that can be bought instead of downed bitcoins

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The years of the pandemic were huge for the crypto market. Cryptocurrency investment has become the latest fad among novice investors, and smart money has begun to flow into the sector. However, with many headwinds on the back, bitcoin (BTC-USD) and other industry figures hid. However, there are some quality cryptocurrencies that can be bought that could explode in the coming years.

Investors are constantly looking for the next cryptocurrency to explode. However, I believe that the best coins for investing boast the strongest fundamentals and usage options. Being a believer in the long-term potential of the sector, it is ideal to have a balanced portfolio to get the most out of your money.

Let’s take a look at the best coins you can invest in other than beaten bitcoins.

Cardano (ADA-USD)

Source: Stanslavs / Shutterstock

There are many cryptocurrencies, but perhaps the best cryptocurrency you can invest in Cardano (ADA-USD). Its network is probably the most reliable from a technical point of view and could potentially handle a million transactions per second in the not-so-distant future.

Last year, it reached a significant milestone when it introduced smart contract functionality. This will allow developers to create decentralized applications directly on the blockchain. There are currently more than 2,000 smart contract scenarios in the Cardano blockchain.

With the introduction of the Hydra system, Cardano can process 1000 transactions per second per pool. The ADA is already working on a highly effective proof-of-stake concept, and new updates such as Hydra will take speed and scalability to new heights.

Polkadot (DOT-USD)

Polkadot altcoin logo on a pink background

Source: shutterstock.com/nurionstd

In peas (DOT-USD) is a blockchain protocol designed to create multiple compatible blockchains for effective interaction with each other. Its developers plan to eventually create a fully decentralized web. Web3 is at the heart of Polkadot’s growth history.

The new phenomenon will allow creators to create more interactive impressions and more control over their content. Once the Web3 revolution is in full swing, Polkadot is likely to get big growth. What’s more, it has time to further expand its ecosystem by adding new functionality to its parachutes.

Avalanche (AVAX-USD)

The concept of cryptocurrency gold Avalanche (AVAX).

Source: Hakan GERMAN / Shutterstock

Avalanche (AVAX-USD) is a leading decentralized application platform that is much cheaper and faster than its competitors. The crypto stands out for its deflationary design, which ensures that the price of AVAX increases over time. Its transaction speed is 1 an amazing 4500 per second.

Smart contracts are adapting to Avalanche, which is likely to increase development activity due to greater user demand. The Avalanche platform burns transaction fees by effectively removing coins from circulation. This increases the deficit relative to the market and effectively raises its price. The feature is much more attractive to long-term investors.

Ethereum (ETH-USD)

Conceptual image of a virtual coin based on the Ethereum logo.

Source: Filippo Ronca Cavalcanti / Shutterstock.com

Etherium (ETH-USD) is perhaps the largest player in cryptospace, offering the most real utility. It is the most widely used network for decentralized financial projects and indispensable token (NFT) markets. It is now more than 50% DeFi market share.

The main problem with the ETH bull is its low speed compared to other blockchains. Its developers have taken this into account, and the network is moving to a proof-of-stake model that will significantly increase speed and reduce transaction costs. The merger could take place before the end of this year or before the beginning of 2023. Thus, ETH may go into large growth around this time.

Solana (SOL-USD)

Salana Crypto currency Gold Solana SOL.  Blockchain concept on white background 3D rendering

Source: pasit chomying / Shutterstock.com

Salana (SOL-USD) is a smart contracts platform that has taken off over the last couple of years. Despite the current downturn, SOL has gained more than 1,000% since early 2021. Her success is largely due to his madness the transaction rate per second is 65,000.

What’s more, his latest project is called Solana Pay, a decentralized payment system. An energy efficient system allows transactions to be made instantly with a fraction of a penny. With Solana Pay SOL has become an even stronger payment coin. Diversity allows the coin to succeed in multiple areas and potentially compete with giants such as Visa (NYSE:In).

Solana boasts a military venture capital chest, lots of apps, incredible scalability and a passionate community that intends to take the coin to new heights.

Dogecoin (DOGE-USD)

A close-up shot of a shiba inu with a smiling face.

Source: Wollertz / Shutterstock

Dogecoin (DOGE-USD) for most of its life cycle flew by unnoticed. Then the retail craze in early 2021 lifted several struggling companies to new heights and propelled DOGE. Its price soared by May last year, get over 10,000% in price. Since then, the fascination with meme coins has quickly faded, negatively affecting DOGE. However, the token has a public and public image, effectively compensating for the lack of fundamental principles.

Some of the biggest names in the financial world are firmly behind the crypt, including Mark Cuban and Elon Musk. What’s more, many businesses include Dogecoin and other cryptocurrencies as payment options. The current macroeconomic climate has devastated more speculative proposals, but these conditions will eventually pass, which is good for Dogecoin.

Decentraland (MANA-USD)

Conceptual image representing Decentraland (MANA) with a marker displayed in front of a price chart and grid of points.

Source: moxumbic / Shutterstock.com

Decentraland (MANA-USD) is a 3D virtual reality world where users can buy digital real estate through crypto. It focuses on building real partnerships and giving its users the opportunity to interact in an integrated virtual environment.

Built on the Ethereum blockchain, it features a growing virtual economy based on developing and monetizing gaming experiences online. What’s more, Decentraland is also a Decentralized Autonomous Organization (DAO), unlike other metaverse coins. This allows users to use MANA to vote on various network development issues.

Decentraland attracts many real partnerships with companies, including Samsung. In addition, the platform hosted the first-ever metaverse of fashion week, in which several brands took part in the historic event. So MANA has the potential to make it great on the crypto scene in the future.

At the date of publication, the Muslim Farouk held a LONG position in Solana and Ethereum. The views expressed in this article are those of the writer, taking into account InvestorPlace.com Publication Guide.

Post 7 best cryptos that can be bought instead of downed bitcoins appeared first on InvestorPlace.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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