Everyone would like to find ways of making a passive income through investments. Nowadays, more and more people are venturing away from traditional stocks and shares and moving towards investing. However, for many new investors, the world of cryptocurrency is not just full of unknowns, but it can also feel vast and overwhelming. Despite hearing many good things about crypto, it can be hard to know what to invest in, especially with it being a volatile environment.
While Bitcoin still finds itself in pole position when it comes to lucrative potential in the realm of crypto, any good investor knows it’s never wise to put all your eggs in one basket. In fact, whether you want to reap the benefits instantaneously or in a few years’ time, it’s always great to invest in multiple cryptos. Just over a decade ago, the skepticism many felt towards cryptocurrencies was palpable. Today, the situation is quite the contrary. Case in point, many businesses – both established and newly founded ones – are not only cozying up to such payment methods but exclusively transacting with them. Perhaps it’s because, unlike fiat payment, crypto offers features like efficiency, security and anonymity. Indeed, one equally booming sector is online gambling, so it is no surprise why many operators welcome such forms of advanced, digital payment.
Investing in an established cryptocurrency that is already accepted by vendors such as Bitcoin or Ethereum, if you are looking to profit in the long-term, you’ll probably want to explore some less prominent alternatives if you want to reap greater returns further down the line. In this post, we’ll provide some insights into some potentially lucrative alternatives to bitcoin that are worth looking into in 2022:
Shiba Inu
Shiba Inu first took the crypto world by storm at the end of 2021 by exploding in value by over 1000% in over a month. Known as the most famous ‘meme’ coin, Shiba Inu created a huge buzz on social media platforms, such as Reddit. Like its dog-themed counterpart, the Dogecoin, much of Shiba Inu’s appeal stems from the social-media hype around it. With that being said, thanks to tangible concepts such as ShibaSwap, it looks highly likely that the value of this coin will continue to increase through 2022.
Lucky Block
When it comes to the latest altcoins, Lucky Block is another popular option that looks to create waves in the crypto world in 2022. Hosted on Binance Smart Chain, LuckY Block is all about using blockchain technology to revolutionize the lottery industry by increasing transparency, increasing the chances of winning and reducing draw times. The fact that Lucky Block has a limited supply means that the value will naturally increase over time, making it a lucrative option when it comes to investing.
Curve
Built on the established Ethereum network, Curve is a decentralized exchange that allows people to swap stablecoins easily. Curve allows anyone to lend coins and generate high rewards relative to traditional asset classes. Curve protocol has demonstrated fast growth in the decentralized finance (DeFi) sector, which proves it has significant promise for the future.
Ripple
Ripple is an exciting altcoin that shows huge potential. From the company behind RippleNet, an exchange network and payment system which offers consumers a more efficient and cost-effective to move money than the traditional banking system. By using Ripple as a ‘bridge’, people can exchange money easily regardless of the currency they are using. What’s more, the Ripple system allows cross-border payments to arrive almost instantly, unlike traditional systems, which take time. With the demand for the movement of money to be faster, it looks like that Ripple will go from strength to strength in 2022.
Aave
Another altcoin that is worth keeping an eye on if you are looking to invest in 2022 is Aave. It has had a notable impact on the DeFi space. This protocol allows users to brown and lend crypto easily. The use of ‘liquidity pools’ operated via smart contracts forms the basis of the system. Aave also automatically sets collateral raptors and interest rates.
The Sandbox
If you want to invest in an altcoin with a difference, Sandbox might be the thing for you. The platform is an ecosystem designed for gamers. Through the use of non-fungible tokens (NFTs) and The Sandbox utility token, gamers can create, own and monetize their activities. In effect, NFTs are the digital certificate of ownership. Players can use NFTs to assign verifiable ownerships to their digital assets, which can then be used to trade or play games.
Sandbox provides tools such as the Game Maker to enable player engagement. Another element of the system is The Sandbox metaverse which comprises digital real estate which can be bought using LAND tokens. While it may seem far-fetched, a anonymous buyer recently purchased a patch of virtual land next to Snoop Dogg’s Sandbox ‘residence’ for a whopping USD 450,000
Enjin
Another game-focused altcoin that is gaining traction in the crypto world is Enjin Coin. It currently boasts the involvement of 250,000 active gaming communities and over 18 million gamers. In this case, the brains behind the coin want it to become the go-to digital token for purchasing in-game items.
Concluding Thoughts
Whether you are new to the world of cryptocurrencies or an old hand looking to grow your portfolio, it is important to be ahead of the game if you want to make real money. We all know that diversifying our investments is key. So while it is essential to acknowledge the volatility of crypto markets, you should also take the time to research some of the new altcoins on the block when it comes to making investments in this space.
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