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When selecting a winning altcoin, it is vital to consider the real-life practicability of its underlying technology. Therefore, it deserves its high value and market cap position just behind Bitcoin. Likewise, this altcoin is the native asset of a gigantic blockchain supporting the development of other altcoins. For instance, Ethereum uses advanced technology to make prevailing financial resources better and safer instead of replacing them like Bitcoin. However, a few altcoins managed to change the perspective and compensate for some of Bitcoin’s lacking. After all, mimicking the king coin’s success is not as easy as it seems. Instead of offering newer, better, and more innovative alternatives, they led projects to dead ends.

Generally, many altcoins entered the crypto market as mere Bitcoin replicas. Next, we’ll consider some factors when choosing the right altcoin for your investment strategy. Stay away from altcoins that have experienced significant drops in market value. Due to crypto volatility, the current price is also essential but not a deal-breaker since it could change soon. There, you can look into the history of the altcoin, its circulation, and market cap. Lastly, you can go as far as to ask your questions directly to the altcoin’s developers.Īn excellent place to start your research is historical charts available on the internet. Also, you can look into the altcoin’s whitepaper or read about the project’s roadmap and goals. For example, you can consult other investors who have experience in trading that specific altcoin. The first step into choosing an altcoin is doing your due diligence. Therefore, you must research high and wide to find one that has winning properties. Almost every alternative to Bitcoin has different working mechanisms and features. Read on to discover how the spot the best altcoin to trade! What Is a Winning Altcoin?Īdding a new altcoin to your portfolio is harder said than done. So, we decided to make the task easier for you with a short guide to trading altcoins for profit.

Unfortunately, with so many cryptocurrencies on the market, picking the next altcoin sensation is tricky. Therefore, investors are always on the lookout for the next winning altcoin.

Also, many have surged in value from just a few scents to hundreds of dollars. In return, this led to the creation of alternative coins to BTC, including Cardano (ADA), Chainlink (LINK), and Polkadot (DOT).Īlthough they do not share Bitcoin’s fame, they have gained their share of fame over the years. Four years ago, thousands of Bitcoin investors saturated the market, creating a need to diversify the crypto space. Since 2017, Bitcoin has inspired the development of a myriad of altcoins.