Top Coins From Our Team – Part 1

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Top Coins From Our Team – Part 1

We recently shared a series of articles on the top coins held by our CEO. And we observed that a lot of our readers had a real interest in knowing about our preferences. So, we’ve decided to share a couple of coins held by some of our team members.

As we’d like to point out, these lists are not investment advice. Instead, they are educational materials. You should only consider investing in any coin once you’ve done your research and you’re convinced that it aligns with your trading goals. Now, let’s get to some of the coins on today’s list.

1) Bitcoin (BTC)

The OG of all cryptos. It only makes sense that our list begins with BTC. A good number of team members said they’ve invested in BTC over the years, and they are pretty convinced about Bitcoin’s potential.

Apart from being the first cryptocurrency, Bitcoin has shown massive potential and is now seeing mainstream adoption. Bitcoin’s price and market cap are higher than those of any other cryptocurrency. This is one of the reasons it leads the price action of the crypto market.

Created in 2009, Bitcoin is a decentralized, digital currency exchanged through a peer-to-peer network without centralized authorities. In addition, it runs on the Bitcoin blockchain and uses blockchain technology to verify and secure transactions.

The Bitcoin network is open-source and public. This means that anyone can participate in it. One of the reasons why Bitcoin has grown in popularity and value is because of its use cases. Some of the use cases of Bitcoin include:

  1. A means of payment
  2. Remittance
  3. Trading
  4. Donations
  5. Investment
  6. A store of value

Bitcoin has become a household name and is currently one of the most lucrative investments in the world. As of May 2016, anyone could buy one Bitcoin for about $500. But, as of this writing, Bitcoin trades at $25,738.88.

Although there’s been a bear market for a while, we believe BTC will continue its growth once the bull run sets in. Moreover, there are different reasons to believe that BTC will continue to be a worthy investment despite the volatile nature of cryptocurrencies.

  1. Bitcoin will be halved in 2024: Bitcoin halving is an event that reduces the mining rewards given to validators and makes BTC scarce, thereby increasing its value. Halving events have often led to serious price increases. So, holding Bitcoin could bring in good returns soon.
  2. Institutional adoption: Lots of mainstream organizations are currently adopting Bitcoin. Top payment companies such as Stripe, Visa, and Mastercard already provide support for Bitcoin. BlackRock, the world’s largest asset manager, has shown interest in Bitcoin and has continued to push for a spot Bitcoin ETF.

The continued presence of large institutions in the Bitcoin market secures the asset’s long-term value.

2) Ethereum (ETH)

Ethereum is a network that enables developers to build their own crypto coins and deploy smart contracts using the network. Although Ethereum came years after Bitcoin and other cryptocurrencies, it is currently the second-largest crypto, only behind Bitcoin.

Ethereum’s continued growth can be traced to its unique technology. Ethereum recently addressed some of the problems with its blockchain, such as high energy consumption, with the launch of the Merge. So, the Ethereum network now runs a proof-of-stake consensus mechanism that focuses on speed and scalability.

Ethereum has also experienced remarkable price growth. ETH went from $11 in 2016 to $1665.48 as of this writing. Ethereum might not have the appeal of Bitcoin, but it is largely popular among developers for its ability to host new applications and functionalities:

  1. Decentralized Finance (DeFi).
  2. Decentralized Autonomous Organizations (DAOs)
  3. NFTs.
3) BNB

Binance Coin (BNB) is another popular cryptocurrency amongst our team members. Despite the recent price decline, the BNB coin has really good fundamentals. BNB is a cryptocurrency to trade and pay fees on Binance. Also, the use cases of the BNB coin exceed facilitating trades on the Binance exchange. Here are some of its use cases:

  • Make credit card payments.
  • Process payments.
  • Make donations.
  • Make investments.
  • Pay for travel arrangements.
  • Buy virtual gifts.

One of the appeals of the BNB coin is that Binance burns or destroys coins quarterly. The recent burn took place in July and reduced BNB’s supply by 1.99 million tokens. So, we can argue that such moves have more long-term effects than short-term ones. Burning often creates scarcity since it manages the number of available tokens. There’s a total supply of 153,854,795 BNB tokens, all of which are circulating.

In addition, there are several reasons to stay bullish on BNB. For example, thanks to the opBNB platform, BNB Chain users will have access to a layer 2 option. The Layer 2 platform will handle more than 4,000 transactions per second and keep transaction fees at a fraction of a cent. The BNB layer 2 chain will make BNB more accessible to a wider range of users.

Finally, it is important to note that the BNB coin price often reacts to events on Binance. So, if the crypto exchange can secure a victory in its case against US regulators, then we could see a price surge.

4) Polkadot (DOT)

Polkadot has gained popularity in recent months thanks to its innovative features and potential for the development of decentralized web technology. The idea behind the creation of this platform was to enable blockchain platforms to seamlessly connect.

Lots of investors and developers have embraced Polkadot to leverage its unique features for their projects. In addition, Polkadot currently ranks among the top 11 cryptocurrencies by market cap, showing its value.

In addition, Polkadot’s architecture supports several parallel chains, known as parachains. These parachains can operate independently and communicate with each other using Polkadot, resulting in increased scalability.

Also, Polkadot allows different blockchains to share data, thereby improving interoperability. This single feature makes Polkadot a popular tool for developers seeking to build products that can communicate with other chains. The DOT token is Polkadot’s native cryptocurrency. It is used for:

  • Staking. 
  • Network governance.
  • Transaction fees. 

There are a lot of reasons to stay bullish on Polkadot. First, Polkadot’s infrastructure appeals to both investors and developers. And with the bull market coming, platforms like Polkadot will see increased demand as more projects plan to hit the market.

In conclusion, the projects mentioned in the list have good potential. All of them are available on both centralized and decentralized exchanges. Also, we have another list of coins from our team members coming soon.

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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