Bitcoin is the first cryptocurrency that paved the new concept of new decentralized money where there will be no interference from any central authority. After the global success of Bitcoin, came new alternatives to compete against the foremost crypto coin. But dethroning the latter is not that possible for any altcoin, due to its global popularity. However, there are top 6 altcoins that have the potential to outshone Bitcoin if not completely snatch its dominance.
Witnessing crypto acceptance by big companies for payment and support from celebrities are some of the examples that define the rapid growth of the crypto industry. Akin to penny stocks, investors have been attracted to penny altcoins also. Due to small market capitalization, investment in altcoins is a high-risk factor. Still, one can make the best choice by investing in altcoins as they are low-priced.
Altcoins as the name suggests are alternatives to the first cryptocurrency Bitcoin. If there is any close competitor to the latter dominant crypto coin, then it is Ethereum. This altcoin is also known to be the second-largest cryptocurrency after it. But it is not the only alternative coin to consider. Today we are going to list down some of the top 10 altcoins for August in the current year. Before beginning, let us remind you one thing, be fully prepared while bumping into the crypto market.
Better do your own research before finally diving into the crypto asset class. This article features some of the top altcoins for August 2022. Read it till the end, and decide which of the altcoins you would pick for investment. So let’s check out.
Top 6 altcoins to buy and hold in August 2022 for huge gains
Here are those top altcoins that you can prefer to buy or hold in August 2022 for immense growth.
Shiba Inu is one of the top 6 altcoins that you can buy and hold in August 2022. It gained attention with its explosion of 1000% in 2021 October. Kudos to the ample attention it got from Reddit, a social media site. Like Dogecoin, SHIB also began its journey of being a meme coin. Both rose to popularity with the hype around them. $0.0000241 is the current price of Shiba Inu.
Tether tops the list of being the best stablecoin in terms of liquidity for crypto trading platforms and the investors regarding no-cost exit strategies and stability and moldability in their portfolios. Adding another big advantage of Tether is it can be sent very fast anywhere around the globe. Also, it has minimum fees in comparison to regular banks transactions. Current price – $1.00
Yes, it has been through some rough phases, still, this open-source blockchain network can be expected for its outstanding prospects. Developers find Cardano very useful for the creation of decentralzed applications and the release of smart contracts. The framework of Cardano’s structure is planned with special academics and literature from the peer’s perspective. This altcoin joins the list of altcoins that can be purchased and held in August 2022.
Current price – $0.8905.
Binance USD is a newbie NYDFS (New York State Department of Financial Services) USD-pegged stablecoin. It got launched with the partnership of Binance and Paxos. This altcoin aims to become a trustable and structured marketplace facilitating access and trading across a thriving variety of crypto assets. Current price – $1.00.
Dogecoin is the open-source digital currency that began its journey nine years ago. Billy Markus and Jackson Palmer are the software engineers who are behind the creation of this crypto meme altcoin. Dogecoin began its journey as a joke inspired by a famous theme. It got much support from the Tesla founder and CEO Elon Musk’s series of tweets. The creators of Dogecoin created it for the fun motive, But now it is listed among the top-rated altcoins that you can buy in the current year. Current price – $0.1356.
If you are looking for the best-performing crypto asset with the best use case, then Stellar cryptocurrency is the answer. Stellar is a distributive payments network. It is operated via its native cryptocurrency Stellar Lumens (XLM). The network lets speedy payments that can be sent around the globe, and that with minimum fees. Current price: $0.1929.
Bitcoin might be a globally popular cryptocurrency. Still, now it is not the only digital currency left to think for investment. There are several alternate coins now in the crypto market. Stellar, Dogecoin, Cardano, Shiba Inu, Binance USD, and Tether are the top 6 altcoins that you can choose to buy in 2022 for immense growth. To know about the current price and price prediction for upcoming years of these digital currencies, then better log on to Cryptoknowmics. It is the best crypto guide that every crypto enthusiast must follow. Here you can search for any topic as per your curiosity, be it airdrops, ICO, STO, IPO, crypto whales, and more.