WAIT. Before we get into it, what is an altcoin? Well, you being here means you already know or have heard of something called Bitcoin. This is the first cryptocurrency to be built. Overtime, people have understood the technology behind bitcoin and the blockchain technology; hence, dived into creating their own coins. Altcoin is any cryptocurrency that is not Bitcoin. The common one include Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), Stellar (XLM) and others. So, all these other cryptocurrencies are known as ALTCOINS; short for Alternative Coins.
NOW. Before we dive into it, there are certain criterions that you can use to determine which cryptocoin in Kenya you can invest in next for great returns. The basic one is looking at the volumes of trade. Some coins have very minimal movements, hence will hold your money for a long time before you can even make 5% profit out of it. The best altcoins to invest in in July 2021 are those that have good movements in buying and selling. You can check these volumes of movements on your crypto trading platforms like Binance.
If you have been keen over the last few months, you have probably seen enticing movement of MATIC COIN. The coin hasn’t been largely affected by the volatility we saw in the month of June. In May, Polygon Matic cryptocoin was trading for about USD 0.3 per coin. However, that jumped to about $1.8 in June giving those who had investing early in it HUGE profits. The uptake forced Polygon to upgrade their network for proper provision of their services. While the profit now might not be as huge as compared to those who bought the coin in April 2021 or May, the vision for $MATIC is clear and backed with proper infrastructure, it is only a matter of time before it shoots again.
Dogecoin has seen a good share of it’s ups and down. Elon Musk’s anticipated Sunday Night Live show did the completely opposite of what it intended to do for Dogecoin. Instead of pushing “The Doge” to the moon of $1 per coin, it sent it crumbling down to about $0.3 per coin. People panic sold it, while others were encouraged to HODL. The green and red candle candled interchanged abit but did yield as much profit. However, that was the last month. July 2021 has seen the sleep dogecoin rise again, growing +30% in 24hrs. Those who sold have started panic buying it again to avoid missing out on the huge profits it might bring. The news that Coinbase, america’s most famous Crypto trading platforming was going to list Dogecoin boosted the growth of Dogecoin and now the reality of it hitting the $1 is a reality.
Cardano is framed as the greenest project on crypto space, as used as much green energy as possible in it’s constructions. This in a way gives it a proper platform for prosperity especially with those who are conscious about the environment and the effects of crypto mining on it. It’s power consumption is less as compared to that of Ethereum and Bitcoin. It’s growth has also been stable over time, trading between USD1.01 in March and USD1.78 in July. This shows that unlike other coins that might be affected by tweets or news, this coin’s growth is purely on it’s principles of green energy. The prospects of Cardano are promising, and you can dive in and discover.
Remember when the crypto market fell and people were told to buy the dip, well then here is your chance. At the time of posting this, BEAM was trading at USD0.84 per coin. The probably best altcoin to buy in July 2021 was trading at about USD 1.5 in mid June, meaning this could possibly be the lowest or near lowest price BEAM Coin will ever be before resetting back to the stable price. This could actually be the best time to buy this coin, if ever you wanted to buy it (as always though, this is not financial advise, please do your own research). BEAM also did some upgrades on it system in June, making it more stable and faster.
Another feature to look out for when looking at top 5 altcoins you can invest in on Binance in July 2021is the volume vs the transaction cost. Enters UNISWAP. More and more people have discovered that UNI coin’s transactions cost is actually very cheap, hence cutting down on cost and maximizing profits. This has encouraged people to starting looking at it as another option to Bitcoin. UNISWAP’s price has seen it hit about USD42 per coin and has also seen it fall to about USD16 per coin. The current price for UNI on Binance is USD28 meaning it is a point of stability and with the markets starting to turn green and greener, then then only was for UNI is up.
To wrap this up, of course there are other altcoins like Ethereum which we haven’t mentioned, but there are thousands of coins out their you can look into as you look for green candles in July 2021. The Shiba Inu has gone hunting, it’s volumes of trade have dropped and price has stagnated for a while. It will need a really big Whale to wake it up, but if you have spare coins you can buy and forget and forget it.