There are thousands of cryptocurrencies out there, most with very little value and unclear potential yet for those in the know there are some that are still worth investing in ...
From relatively unassuming beginnings in the late aughts, cryptocurrency has evolved rapidly to take us on a wild ride in recent years. The asset class has expanded so much it sometimes seems like we’ve seen just about every possible development –– right down to the point that people can now drive a Daymak Spiritus that mines cryptocurrency for them as they go.
Yet somehow, despite everything we’ve seen, and despite the attention that crypto receives all day every day in certain corners of online media, there are still some potentially very valuable cryptos that the average investor knows little about.
Basic Attention Token
People tend not to buy BAT so often as they earn it. As the name suggests, these tokens are rewards for your attention — specifically, advertisements curated by Brave, the team behind the browser of the same name. People are increasingly using Brave — as well as its services like Firewall + VPN and search — for its privacy features. Brave Wallet was launched to solve the dilemma of internet revenue models, which has been that the mass-market consumer will always err toward not paying for services, but also doesn’t want obtrusive ads. The price of BAT, meanwhile, has only cracked a dollar twice to date. But Brave hopes that its model can become a sustainable one for making ad revenue that respects the user.
Avalanche
When decentralized finance saw a surge in interest a few years ago, one benefactor was the “Ethereum killer” Avalanche smart contracts platform –– which has since matured to support a whole ecosystem of apps. People purchase AVAX tokens because the platform has all the functionality of Ethereum, but is optimized to the point that it’s orders of magnitude faster and cheaper to use, and is even favorable to other Ethereum rivals, like Polkadot.
SushiSwap
While we’re on the subject of Avalanche, one of the more popular dApps (decentralized apps) built on it is SushiSwap. Many invest in SushiSwap as an alternative to the better-known UniSwap, in large part thanks to the added benefits that Avalanche carries over Ethereum (which supports UniSwap) in terms of speed and transaction fees. The app doesn’t only allow you to swap cryptos, as the name suggests, but also includes borrow-lend and “liquidity mining” features, the latter of which is a means of passive income generated by lending assets to a pool.
VeChain
Although VET tokens might sound like something aimed at animal welfare, they are actually the altcoins for the VeChain Thor blockchain –– one of a crop of supply chain-oriented chains. VeChain is still cheap as of this writing, trading for pennies and currently sitting in a broad dip. However, the combination of the long-term assertion that transnational networks are a potential area of strength of blockchains over earlier solutions on the one hand, and the serious institutional partners on the other, means this could be one to watch. Part of the strength of VeChain could also ride on the development of U.S.-China trade relations. Some might think that cryptos have reached a saturation point as a market, but there’s enough bullish sentiment and work being done on numerous altcoins to suggest another upward swing, eventually. Even if that should come to pass, there are never any guarantees as to which cryptos will fare well –– but hopefully the information above has given you some food for thought.
