According to data from Coingecko, there are over 16,000 cryptocurrencies in circulation. Only around 10% of these will be around for the long haul. If you are new to cryptocurrency and don’t know where to begin, any of the five coins highlighted in this article could be considered for an investment. The five cryptos are:
- Ethereum (ETH)
- XRP (XRP)
- Gala Games (GALA)
- Chiliz (CHZ)
- FIREPIN Token (FRPN)
Let’s take a look at why we think these five cryptos will be good additions to your portfolio.
Ethereum (ETH) is a layer one, open-source platform for decentralised apps (dApps). The goal is to establish a decentralised global computer upon which anybody may build. Ethereum enables smart contracts, which allow developers to programme digital currency using code, as well as to create NFTs, DeFi and DEX platforms.
With an ETH 2.0 upgrade scheduled for release in summer 2022, Ethereum is expected to continue its path to cryptocurrency dominance, with many predicting it could hit $10,000 and dethrone Bitcoin (BTC) for the number one slot.
XRP is the native token of Ripple Labs, a company that is revolutionising the banking and financial sectors by enabling quick and cheap cross border payments between establishments. The current SWIFT system is old, slow and expensive with transactions taking up to 5 days sometimes. With XRP any transaction will be completed in under two seconds to anywhere in the world.
Ripple Labs has been locked in a lawsuit with the SEC for over a year now which has negatively affected the price of XRP. Over the coming years and after the lawsuit is settled, the price of XRP is expected to moon to heights not seen before, with financial experts predicting it should be on a similar level to Ethereum in terms of market cap.
Gala Games (GALA) is one of the forefront projects in the world of the Metaverse. With crypto gaming (GameFi) becoming more popular by the day, it shouldn’t be long before global adoption of crypto, from the video gaming industry, is established.
Gala Games is an ecosystem similar to Steam in that it will be a platform where multiple games will be available for playing and downloading. Users will be able to earn real-world fiat currency by completing tasks in-game via NFTs and then exchanging their earnings for GALA. As the Metaverse gains traction, expect to see the early adoption tokens such as Gala Games (GALA) see significant price increases.
Chiliz (CHZ) is another NFT and Metaverse ecosystem that is making waves in the cryptocurrency world. Instead of gaming, CHZ is used primarily for the sports and entertainment sectors. Sports memorabilia and collectables have been popular pastimes for many years now. Chiliz is taking that hobby and bringing it to the digital age.
Via the Chiliz platform and its multitude of fan tokens that have launched, users will be able to collect digital cards, photos and videos in the form of NFTs. These NFTs can then be sold in exchange for CHZ.
FIREPIN Token (FRPN) is a brand new cryptocurrency that is still in its presale, meaning that you have a fantastic chance of investing in a project in its infancy. FIREPIN Token aims to be a fully integrated Metaverse community platform that has plans to produce the next generation of video games.
Alongside this, FIREPIN Token can be utilised as a multi-chain cryptocurrency. This means that it is easily swappable between five of the most used blockchains. The five networks are:
When it comes to NFTs and developing apps, users will now be able to use FRPN to find the cheapest and quickest blockchain to facilitate their respective transactions.
These are the five cryptocurrencies that we believe have the strongest long term fundamentals and will be around for a long time. Before investing in cryptocurrency you should research any project thoroughly.
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