Since Bitcoin was developed in 2009, the world has been introduced to a radical new way of making payment methods. The birth of Bitcoin has led to the development of the booming set of new payment services referred to as cryptocurrencies. Due to its decentralized nature, cryptocurrency has earned the attention and interest of traders and investors, who are now millions in number.
As the years go by, more and more crypto enthusiasts are joining the digital currency industry to earn a profit despite the volatile nature of the market. However, its volatility is not the only risk that crypto traders face every day; there are many scammers and fraud in the market. Due to this, more and more crypto traders engage in software by visiting websites like https://www.binance.com/en, https://bitcoin-loophole.io/, and https://www.kucoin.com/ to seek help in searching for reputable Bitcoin trading brokers for a safe trading environment.
It’s safe to say that cryptocurrency has become a crucial part of the development of the digital economy. In addition, the number of new cryptocurrencies that emerge in the market is high, which yields huge amounts of profit. If you plan on investing in new cryptos for this year, check out this list of top 7 new cryptocurrencies you should keep your eye on.
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1. Lucky Block
Lucky Block is a blockchain-based lottery platform to improve the experience offered by legacy lottery systems. Its native token plays a vital part of the platform as a whole and is utilized to pay transaction fees or buy lotto tickets – LBLOCK. The focus of this crypto is to further improve transparency and fairness in creating a lottery or gaming, allowing every participating player to have better winning chances through a solid investment strategy.
2. Decentraland
Decentraland offers a virtual world that provides scope to monetize in-game items. This allowed the platform to be one of the most popular to venture into the metaverse since it allows users to buy and sell virtual real estate called LAND. In addition, in-game items can also be traded on the platform’s marketplace, which creates a fully-functioning economy. With its trading fee of $3.20 currently, experts believe there’s a great potential for the months to come.
3. Power Ledger
PowerLedger is a tech company that builds software for distributed and decentralized energy markets for a sustainable future. The platform has developed a blockchain-based system that enables the tracking and trading of flexible services, energy, and environmental commodities. With its goal to provide a fully modernized and market-driven platform, PowerLedge offers customers the option of what to do with the energy while driving the democratization of power.
4. PancakeSwap
PancakeSwap is a decentralized finance app that allows users to trade tokens and provide liquidity via farming and earning fees in exchange. Launched in September 2020, its system utilizes an automated market maker model that allows its traders to trade against a liquidity pool.
5. Curve
The curve is also another decentralized platform for stablecoins that utilizes an automated market maker to manage liquidity. This platform launched a decentralized autonomous organization and used its in-house token – CRV. Due to its unregulated nature, traders don’t have to go through strict KYC requirements as they do on centralized platforms, which makes Curve an ideal platform for the future of Decentralised Finance.
6. Avalanche
Scalability is one of the main issues of the crypto world which makes it the main focus of Avalance. Avalanche offers a platform consisting of three different blockchains to solve this problem. Each blockchain handles one aspect of the network, which means Avalance provides rapid time to finality and low fees. This feature makes Avalance a secure and ideal alternative to many popular platforms used today.
7. Polygon
Similar to Avalance, Polygon also focuses on addressing the scalability problems of the crypto market. To do this, Polygon aims to offer to-scale solutions that are compatible with the Ethereum network and work as a ‘sidechain’ that runs parallel to the Ethereum blockchain for a faster speed transaction and lower fees. As Ethereum continues its dominance, Polygon will likely be a beneficial scaling solution for developers in 2022.
Final Thoughts
Cryptocurrency is digital money that is not linked to a central system like the government or bank. Instead, it utilizes blockchain technology for all its transactions. As digital money continues to attract attention, more and more options become available and are added to the market every year. The list above is just 7 of the new cryptocurrencies in the market that are most likely to succeed, and who knows, one of these might even outrank Bitcoin in the coming years!
