Cryptocurrencies are the crown of the contemporary digital era we are living in. Blockchain, a transformative technology, laid the foundation of crypto and NFTs. And their adoption has spread like wildfire. Bitcoin has been sitting on the crypto throne for over a decade now. No other digital currency has come even close to challenging its dominance and authority. Today, businesses and investors are investing millions of dollars in Bitcoin owing to its unique benefits.
Bitcoin has proved itself to be such a marvelous investment opportunity that it has made its adopters millionaires overnight.
Carl Runefelt is one of the prominent Bitcoin investors who is now a multi-millionaire. Barely a few years ago, he was taking orders from his supervisors while working as a cashier in a supermarket.
While speaking to his millions of followers on his YouTube channel, The Moon, he says, “If you’re really feeling worried, get your money into Bitcoin because Bitcoin is the safest asset out there. “I am very confident that this will be a very good investment. I believe that Bitcoin is not only going to go to $500,000, I think that Bitcoin is gonna go to five million dollars per Bitcoin in today’s money. Obviously, with inflation, bitcoin could go to trillions of dollars per Bitcoin.”
But as an investor, should you invest in some other digital currencies to diversify your crypto portfolio?
Yes, you should.
Let’s discuss some of the altcoins that have the potential to go through the roof in the near future.
Altcoins That Will Take Off Soon
Some experts believe that Bitcoin is overrated. Just because it is a pioneer, it has remained excessively in the spotlight.
But some altcoins are making rounds in the news lately owing to the massive potential and innovation they offer.
Carl Runefelt advises investing in altcoins. He says, “I would also say that, of course, you can diversify into other coins as well. Personally, I have bought a bunch of other coins that I hold in my portfolio, and I think some diversification is fine, but in the bear market and even in the bull market, I always think that you should have the vast majority of your crypto portfolio.”
Let’s discuss some of them that will soon rise from the ashes.
It is an altcoin cryptocurrency that has a massive potential to rise in the crypto industry.
Waves stand out from the crowd of crypto owing to its unique capabilities. Some of them are:
- With waves, you can launch custom crypto tokens
- You can trade tokens without having to do smart contract programming
- You can manage your tokens by scripts
- With its smart contract functionality, you can create decentralized applications
- Waves crypto utilizes the proof-of-stake method
- Waves crypto can create smart assets
Another altcoin that has been gaining popularity and rapid adoption is Decentraland. It is a platform of 3d online existence that is run on the Ethereum network.
It is now touted as a virtual destination for digital assets by many experts.
Here’s how it is distinguished from other altcoins:
- You can build new games on Decentraland
- You can design 3d pictures on it
- It allows you to get paid for the amount of work you have done
- The tokens of Decentraland are LAND (ERC-721 token) and MANA
- Create scenes, artworks, challenges, and more, using the simple Decentraland builder tool
Another altcoin that is set for bigger things in the future is Solana. Experts often cite Solana as the biggest contender for replacing Bitcoin and Ethereum in the long run.
Its popularity has been skyrocketing in the last couple of years; the year 2021 was its best performing year.
One of the unique and distinguishable features of Solana is the proof-of-history – a distinctive approach to other cryptocurrencies out there.
Carl Runefelt recommends making money by investing in altcoins. He explains, “Sell coins when they hit the top value and purchase another coin, take your profits, and buy other coins as cryptocurrencies are highly volatile. This applies to everything, whether it is Bitcoin or any other coin.”
Altcoins Are Slowly Rising
There is a widespread consensus now that cryptocurrencies will replace fiat currency in some time. Once that happens, you’ll have an enormous amount of digital coins to choose from.
It’s only a matter of time now that Bitcoin dominance will be challenged by the above-discussed underdogs.
They are catching up to Bitcoin – you never know one of them might dethrone BTC.