The first thing that might come to mind when discussing cryptocurrency is Bitcoin. It is easy to fall into the trap of believing Bitcoin is the only safe crypto asset in the market. On the contrary, other viable options from the thousands of cryptocurrencies have already been developed. Dan Schatt of Earnity, the world’s first community-based crypto marketplace and platform, discusses some of the alternatives.
The next best coin, according to numerous crypto enthusiasts, is Ethereum. Like Bitcoin, Ethereum is an open-source network managed by a community of users. It is known for its stability, making it a relatively safe cryptocurrency to hold on to. It is also second to Bitcoin based on market capitalization (or an asset’s total value based on its share on the market.)
A public and open-source blockchain, Solana has become well-known in the DeFi (decentralized finance) space among users searching for an alternative to Bitcoin and Ethereum. One of the reasons more individuals are engaging with its network is the fact that Solana supports smart contracts, notes Earnity’s Dan Schatt. That capability facilitates access to NFT projects minted and transferred using smart contracts. Other factors that have boosted the popularity of Solana are the high speed and low fees involved in transactions.
Binance Coin (BNB)
Binance is one of the largest cryptocurrency exchanges. The medium used to transact in the entire network is Binance Coin, one of the biggest cryptocurrencies utilized worldwide in terms of the daily transaction volume. Binance Coin has a market value of over $53 billion and growing, making it a reliable asset to buy.
Another decentralized exchange that has made waves among crypto enthusiasts recently is Polkadot. It functions similarly to Bitcoin, serving as a token and decentralized exchange. A good reason to buy Polkadot is that the cryptocurrency’s network can interact with other blockchains, providing scalability advantages and increased governance for upgrades or protocol changes.