If you are someone that has been following the cryptocurrency market, you would’ve seen your own share of gimmicks, speculative tokens and fraudulent crypto coins. But the one thing that is common in the coins that do well, is the technology it works on. In other words, the life of a crypto coin depends on how good its technology is and what value it adds to the existing technology the market runs on.
With so many coins out there, offering so many different services and options, we are actually spoiled for choice. And playing it conservative and sticking to the biggest names in the market is a sure shot way of missing out on good technology. So, under the four categories below these are the best crypto coins available in the market.
Supply Chain Crypto Coins:
Walton Coin is the best coin out there under this category. According to the whitepaper of the coin, it plans to eventually be able to track any object that is connected to an RFID and store all the information on the blockchain.
This coin holds the potential to change standard supply chain management systems, while there are other options out there that offer to do the same, Walton coin stands out because it is the first mover and also has more stable partnerships than the other alternatives. Walton coin, like any other coin in the market, faces its periodic ups and downs. However, in terms of credibility, this is your safest bet among the options available.
Transactional Crypto Coins:
What transport is to the travel industry, a transaction is to the crypto market. The ability to make transactions is one of the core services provided by the cryptocurrency market. With the daily decline in Bitcoin volume, alternate coins are filling the void.
The most promising alternate coins that come under this category are Bitcoin Cash, Litecoin and Nano. While Ethereum and Ripple can also be placed under this category, their sole purpose is not for transacting.
Among the three of contenders, Nano is the most promising coin because it has the highest scope for growth. Even though there was a recent hack on their coin, it was by no means a reflection on the technology used by the coin. As for Bitcoin Cash, it has many technical flaws and doesn’t hold much promise and Litecoin has no Github activity which is worrisome. Also, the creator of Litecoin sold off his holdings at a peak which doesn’t instil much confidence in the coin.
Privacy Crypto Coins:
A privacy coin is something that is untouchable by law enforcers and governments. It is like a protected bank of assets that only the owner can access.
With countries working towards stronger regulations against cryptocurrency, the free flow of bitcoins can be subjected to regulation and large exchanges will have to deny the transaction rights. But coins like Monero has a way around it.
Monero is the reigning queen of this category because its competition just does not match up. An untraceable coin like Monero is the solution around government regulations and is by far the safest, fastest and most used coin for this purpose out there.
This, however, does not invalidate the existence of problems that Monero needs to consider, because with regulations being put in place for cryptocurrencies in most countries, Monero holders may have to submit their wallets to make sure there is no violation of “Anti-money laundering regulations”. This is probably the only place that competitors of Monero can possibly overtake the coin, but that is a long way away.
Best Exchange-specific Crypto Coin:
Because simple referral programs aren’t enough to sway people to use a new exchange, exchanges are using tokens as incentives to make people shift. These tokens usually come with added incentives like lower transaction fees and volume-based rewards.
The Binance token is by far the best token under this category. It took an obscure exchange and made it the largest exchange in just under six months. Its founder, who is ex-wall street, is now a billionaire because of Binance.
The important thing to remember while looking to invest in new coins is to check out the coin’s code base. Because good-tech always wins against gimmicks and speculation. It is alright if the coin doesn’t show much growth in the beginning but, provided it has a good code base and a reputed team behind it, it will eventually grow and is most likely here to stay.