The emergence of blockchain technology has generated plenty of cryptocurrencies. Given the sheer number of coins and tokens issued nowadays, it can be quite a headache choosing which crypto is worth investing in, especially as the markets fluctuate so rapidly.
Elastos Coin
Elastos is ranked on 74th on the CoinMarketCap (CMC), having a market capitalization of $192,363,537 USD and is currently trading at $38.28 USD.
Elastos is a blockchain based operating system which aims to become the first open source Internet Operating System. Elastos’s objective is to establish an internet which does not require interference from third-parties when users want to watch movies or play games.
Through its distributed architecture, the Elastos platform intends on providing a generalized infrastructure for the future IOT – ‘internet of things’ – financial system.
Among the offered services are the ability to link digital IDs to digital content, bringing forth a new model that can be used in the purchasing of movies, books, music, and games.
Through this platform, original content creators can benefit from a peer-to-peer marketplace in which seed investors are paid through the use of smart contracts, the funds being allocated in real-time.
Elastos can also be used as an environment for P2P Dapps development – similar to a distributed AppStore or GooglePlay Store – which runs with no centralized control, still being able to function seamlessly with traditional OS platforms such as Android or iOS.
Elastos uses its native ELA tokens as a cryptocurrency for paying the services of accessing files, meaning that you will be able to use your ELA tokens to pay to access content on the internet. With such utility, the value potential for Elastos (ELA) is quite high. Also, having a low supply will help its value growth in the future.
Litecoin
Litecoin is positioned as the sixth cryptocurrency on CoinMarketCap’s list, being priced at $120.37 USD, with a market cap of $6,830,343,398 USD.
Litecoin was originally created in 2011 by former Google developer Charlie Lee, after a fork of an updated version of the Bitcoin client. Lee wanted to improve the Bitcoin blockchain by making it “lighter”, meaning that it had faster processing speeds and lower transaction costs. After working for a while at Coinbase, Lee has now dedicated himself fulltime to this coin. He has gathered around him a team of highly experienced blockchain experts that are working towards the further development of this project.
Crypto enthusiasts will observe that Bitcoin and Litecoin do have some similarities, which is logical, seeing as Litecoin forked from Bitcoin. Both coins mainly focus on being used as a means for peer-to-peer transactions, and they both have a maximum supply of mineable coins (21 million for bitcoin, and 84 million for Litecoin).
But even though Litecoin and Bitcoin do have some features in common, Litecoin has a much faster speed with a transaction confirmation time of 2.5 minutes, compared to Bitcoin’s confirmation time of 10 minutes. This improvement enables Litecoin to have a greater capacity than Bitcoin’s network, allowing it to process those transactions at a faster rate.
LTC is an established top 10 coin. This makes it a popular choice for investors, and, thanks to this, it has a high trading value. If a cryptocurrency has a high trading volume, this means that you won’t get stuck with the coin in your wallet when you want to sell as there will always be interested buyers.
LTC coins are mined by using GPUs (graphics processing units). GPUs are much cheaper than the ASIC mining hardware and consume less energy, making Litecoin an easy coin to mine.
Another big advantage of investing in Litecoin is that it can be easily acquired by using fiat currency such as USD, EUR, and GBP. This makes it less of a hassle when you’re looking to buy LTC coins. This is different to how you normally purchase most altcoins. Usually, you have to first buy Bitcoin or Ether and then you have to trade them to get the crypto you want. Well, with Litecoin you don’t need to do that, as it can be acquired with fiat payment on many exchanges.
Given the many development prospects Litecoin has and the popularity it has among investors, this coin shouldn’t be missing from your portfolio.
Nexo Token
Nexo (NEXO) is ranked on 118th on the CoinMarketCap (CMC) list, having a market capitalization of $108,439,522 USD and is currently trading at $0.193642 USD.
Nexo is a blockchain project that offers instant crypto-backed loans that let users spend cash whenever they need it without needing them to sell their crypto. Cryptocurrency holders can quickly and easily receive loans using the value of their holdings in order to gain access to funds. These loans are instantly executed and need no credit approval or verifications provided that the borrower has collateral to put forward.
While they are not the only project focused on this type of service, they do have some interesting features that set them apart from competitors. For starters, if the value of the crypto stored in your wallet increases, you also have the ability to access that equity.
NEXO tokens are backed by the digital assets in the loan portfolio, and, if you’re holding NEXO tokens, you will be given dividends from NEXO profits. The NEXO token can also be used to make loan repayments at discount on the interest, and the tokens from your loan wallet can be used to increase your limit, again on better terms.
The platform also offers their users an easy way to spend their funds through virtual bank cards. Payments in multiple cryptocurrencies and even fiat currencies for loans are also available. These type of features are what will make this project attract attention from the mainstream public.
It is very likely that the cryptocurrency loans sector will see a huge development in the future, and those that happened to purchase NEXO will be able to benefit from their timely investment.
Keep an eye on these three cryptos if you’re looking to make an investment in the near future!
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