Five lesser known Cryptocurrencies that are trendingFebruary 2, 2022
With the unrelenting rise of digital currency, there are few which started early and have gained value over the past few years. The constant fluctuations in digital currencies make this investment a risky one. There are a lot of cryptocurrencies that have taken the world by storm and are leading in the market. Few cryptocurrencies have gone unnoticed till now. These are the rising stars with potential and are gaining momentum steadily.
Let us take a look at these rising stars:
- AELF coin – Aelf is a blockchain-based operating system that is a cryptocurrency. This blockchain is created to form the structure of the main chain, which is connected to several other chains. This allows developers to DApps. This is a secure network that can be used by business network chains. Aelf cryptocurrency provides hand-in-hand development that is subjected to help blockchains. After the whooping support from the Chinese Government, Aelf is predicted to become the next big thing. That is why they are deemed to be a good investment. Aelf coin can be used for exchange and trading. They are also useful for the transfer of funds across international borders without paying heavy fees.
- ADX coin – Based on the Ethereum blockchain, this cryptocurrency was developed by the advertising industry. This platform was built to negotiate advertising contracts between publishers and advertisers. The USP of ADX is a free service for transparent and unrestricted access. Some of the benefits of ADX are clear and detailed reporting along with the focus on user privacy. ADX is available for all browsers and is regulated by end-users. Advertisers are facing problems with middlemen taking a cut, lack of transparency towards the costs and reach of digital advertising due to blockers and disinterested users. ADX addresses these problems and the ADX coins are used for exchange, transfer, and online payment.
- Binance Coin – One of the key reasons why BNB has gained popularity and risen rapidly since its launch in July 2017, is that it solves technical problems with exchange software. Exchange platforms act as a market for buying and selling digital assets. The platform itself has no part in the exchange. They merely match buyers and sellers with the same expectations and earn by charging fees to both parties. With the growing market of cryptocurrency, the request for trades per second has gone up and that delays the execution of sales. This may lead to a missed opportunity. Binance’s engine is capable of 1.4 million trades per second. This makes their platform an attractive choice for crypto investors. BNB coin was created to pay the fees on this platform. They offer a discount when you pay your fees in BNB instead of the crypto you are exchanging.
- Chiliz – Started as a way to create a link between fans and their favourite teams, socios.com is a platform that is powered by Chiliz. Socios.com is a platform that uses Chz exclusively to buy fan tokens using which fans can use and be a part of polls taken by their favourite professional teams. There are rewards for participation as well. They can also be used to purchase licensed products. The majority of the teams included on this platform are soccer teams. There are plans of adding other professional sports teams as well. The last addition was that of NASCAR racing and Formula 1 racing. Chz are tokens purchased by fans and spent while voting. These Ethereum based tokens allow fans to feel like they are contributing to the welfare of their favourite professional sports teams and allow the teams to monetize on their popularity. Mining Chiliz is not possible and it has already been introduced to be bought or sold. Chiliz cannot be an investment due to the volatility of the crypto graphs. The addition of sports teams that are popular globally can elevate the value of Chiliz tremendously. Some teams are loved and are popular all around the world and if history is any indication, then the addition of these will spike the value of Chiliz. If this happens, then Chiliz can be a massive hit.
- Stellar – XLM was created to promote international payments without any hassle. Just like a bank or any other wallet, you need to add funds to your account. You are given credit in exchange for debit and this is uploaded on the XLM ledgers. This decentralized financial network then allows you to transfer money anywhere in the world. For example, if you have transferred money from the US to India, then the best exchange rate from USD to rupees is taken and the person in India receives the money in rupees and can withdraw them and use them immediately. Stellar uses Lumens (XLM) as an intermediary for the exchange. The first currency is converted to Lumens, and Lumens are converted to the next currency and transferred.
Amidst the chaos of cryptocurrencies, these are the ones you need to watch out for!