Best Altcoins On Binance: Top 10 Noteworthy Coins
Although Bitcoin is the most famous cryptocurrency in the world, today, there are a lot of altcoins that have become great alternatives to the first digital currency. Look for the best altcoins on Binance.
How To Determine Best Altcoins To Buy On Binance
The position of cryptocurrencies and fiat currencies in the market is constantly changing. So, if you decide to acquire altcoins on Binance, it is necessary to explore the current condition of the market capitalization and study the unique features offered by top-listed altcoins.
When Is The Best Time To Invest
It is considered that the best time to invest money in Binance altcoins is near the end of every month. The point is that prices usually rise in the first 7-10 days of each month, so the price collapse happens in the second half of the month due to the sales increase. Of course, it is also necessary to consider external factors like the value of other cryptocurrencies at the moment or the appearance of a new altcoin on the market.
Best Altcoins On Binance 2022
The list of the best altcoins to buy on Binance includes 10 positions. Although the market offers more than 8.350 altcoins today, only a few have gained stable popularity due to constant growth.
Binance Coin (BNB)
Binance Coin (BNB), which is one of the top altcoins to invest in on Binance, was presented on the market in 2017 and has provided a great development since its launch. The progress of BNB is possible in the first place due to the use of a token as payment for gas on the Binance blockchain and exchange fees.
So, due to the increase in the number of daily users on Binance, BNB is in 4th place on Coinmarketcap.com. What is more, BNB is accepted as a payment method by more than 60 million merchants on a legitimate basis worldwide.
The current market dominance of the token is 3.25%.
Ethereum (ETH)
Ethereum (ETH) has remained in one of the leading positions in the crypto market for a long time. In fact, Ethereum is the first decentralized computer globally, which has entered the market as a cryptocurrency, and today holds the position of the second-largest digital currency per market cap in the world.
Ethereum provides more use possibilities than even Bitcoin, including smart cards deployment and the functioning of decentralized apps. The current market capitalization of the token is 18.44%.
Cardano (ADA)
Cardano (ADA) is quite similar to Ethereum. However, it strives to assure more scalability for decentralized finance. Thus, for many years the Cardano Foundation has provided token adoption all around the world, especially in Africa.
Such a specific focus on the African market is aimed at corruption curbing, decentralized education promotion, and identity administration.
Today the ADA token is in the 3rd position per market cap, which is 3.67%.
Ripple (XRP)
This token was designed by the Ripple XRP ledger, especially for disrupting the world remittance industry. The growth of the token was quite slow since XRP has faced multiple challenges. Today, the token is one of the top altcoins on Binance and has a place in the top ten on Coinmarketcap.com.
For now, the main task for the Ripple XRP is regulatory compliance.
The current market share of the token is 2.39%.
Dogecoin (DOGE)
Dogecoin is not only one of the best altcoins on Binance but also one of the globe's trending tokens. Interestingly, Dogecoin was initially created as a joke that was designed as a decentralized payment system.
Though, over time, it has become one of the major players in the crypto market. It is possible to use Dogecoin for Reddit tips, Twitter tips, and payment for some merchants' services and products. It even has the public approval of Elon Musk and Snoop Dog.
The current market share of the token is 1.51%.
Solana (SOL)
The Solana blockchain was developed in opposition to Ethereum and other decentralized computers. Today the blockchain is considered to be the one that ensures more scalability and flexibility than Ethereum.
It is used for the creation of decentralized apps and marketplaces. Although the token was launched only less than two years ago, its market cap impresses. Thus, the market dominance of the SOL token is 2.25%.
Polkadot (DOT)
This platform with a multi-chain structure was created specifically for the assurance of the connection between blockchains. The key feature of Polkadot is that it could be upgraded without significant changes to the network or time-consuming processes.
The DOT token is a native token of the Polkadot network. It is used for betting, binding, trading, and different financial transactions.
The current market dominance of the token is 1.59%.
Avalanche (AVAX)
is a smart contracts platform created for speed assurance. It allows users to develop and launch decentralized apps with high speed and low fees, which are compatible with Ethereum.
AVAX is the platform’s native token, which powers it. The token is used for contracts deployment, getting payouts through betting, and various transactions. Additionally, Avalanche offers NFT support, which allows minting, buying, selling, and sharing of NFTs.
Terra (LUNA)
Terra is a blockchain that uses stablecoins pegged to fiat to power price-stable worldwide payments systems. Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and provides fast and affordable settlements.
Although LUNA is one of the best altcoins on Binance, it is a local cryptocurrency because it as a native token, is used to stabilize stablecoins price only on the Terra network.
The current market dominance of the token is 0.2%.
Chainlink (LINK)
This is a decentralized platform, which was created to assure connection between real-world data and smart contracts stored on blockchains. For instance, the system has integrated decentralized weather data from the Google cloud. Companies that use Chainlink: ClinTex, Accord Project, and Bodhi.
The LINK token is used only as compensation in the Chainlink system, so, the market dominance is low – 0.62%.
Features Of Binance Exchange
The main feature of Binance exchange is its focus on altcoin trading. The exchange provides crypto-to-crypto trading in more than 500 digital currencies and virtual tokens, including the most popular positions like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), etc. The exchange has its own token - Binance Coin (BNB).
How To Buy Cryptocurrencies
There are three ways to buy cryptocurrency on Binance, including the use of credit and debit cards, cash balance, or P2P.
The most popular method is the use of credit/debit cards. To buy cryptocurrency on Binance you need to:
Binance provides a simple and well-secured payment system. The safety of your data is assured by identity verification.
What Are The Possible Risks Of Investing In Top Altcoins On Binance
It is commonly known that cryptocurrency investment is risky activity on any exchange due to the specifics of the market. Though, Binance provides as much security for its clients as it can, so all transactions on Binance are safe. However, even on this platform, be aware of altcoins with stable cheap value because they tend to fall.
Pros & Cons Of Investing In Top Altcoins
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Cons:
Conclusion
Binance offers a great choice of altcoins with different unique features and advantages. Crypto Trading on the exchange is safe. It is possible to buy top altcoins in three ways: credit/debit cards, P2P, or balance cash.
Frequently Asked Questions
What Are The Best Altcoins On Binance?
Top ten of the best altcoins on Binance includes:
How To Determine Best Altcoins To Buy On Binance?
The list of the best Binance altcoins is prepared by crypto experts and is available on the exchange website. To determine the token to invest in it is necessary to explore its development and consider the current market share.
What Are The Benefits Of Investing In Best Altcoins On Binance?
Binance offers the top ten trending altcoins and more than 100 other cryptocurrencies. It is possible to buy altcoins for your local currency or acquire BUSD with zero fees with the Binance P2P and exchange it for the chosen altcoin.
