Cryptocurrency

Top 8 Altcoins to watch out for in February | Crypto Investing under Rs. 10,000

Investing in Crypto Assets

Snapshot:

  • 8 Altcoins Price Comparsion Table
  • Brief introduction to 8 Popular Altcoins
  • Do your own research before investing in crypto

Crypto has become a global phenomenon. Every now and then investors are found looking for the best crypto to invest in. However, with thousands of coins floating in the market it becomes extremely difficult to find the top crypto. It seems like ages since only a few investors were interested in buying crypto. With its wide range of utility, mainstream adoption, and the promise to bring power to the hands of the people, crypto has indeed made its way to almost everyone’s portfolio. However, are all the coins floating in the market worth investing in? Absolutely not. 

A grave question for any newbie fresher is to find the best crypto to invest in out of all the coins available. Many people even look for the top altcoins to buy and this is where we come into play. We have run extensive research to accumulate data and bring you  the list of top 8 altcoins below INR 10,000 to watch out for in February. 

If you feel bad for missing out on the opportunity to buy Bitcoin when it was trading for just $50 don’t worry, there are some amazing altcoins that are believed to be great investments by financial experts. Here is the list of the top 8 altcoins to watch out for in February. 

Top 8 Altcoins watch out  for in February | Crypto investing under Rs.10,000

Coin  Price* (January 31, 2022) Market Cap* Circulating Supply** 
Terra (LUNA) ₹3640.76 $18,299,591,300 400,656,106.23 LUNA
Polkadot (DOT) ₹1407.03 $17,362,790,561 987,579,314.96 DOT
Cardano (ADA) ₹81.46 $34,150,632,727 33.57B ADA
XRP (XRP) 47.08 $28,040,971,005 47.74B XRP
Solana (SOL) 7265.84 $28,546,931,549 315,099,990.26 SOL
Polygon (MATIC) 125.67 $11,661,404,477 7.46B MATIC
Algorand (ALGO) 73.99 $6,034,622,216 6.55B ALGO
Avalanche (AVAX) 5288.52 $16,106,305,733 244,912,334.36 AVAX

*All prices, market cap, circulating supply are latest by 5:30 PM January 31, 2022.*

Source: CoinDCX; CoinMarketcap 

Additional Read: Crypto Taxation Guide Budget 2022

1. Terra (LUNA)

Terra is a blockchain protocol using fiat-pegged stablecoins and thus powering price-stable global payments systems. Confused about what this line implies? Basically, Terra uses the price stability and mainstream adoption of fiat currencies combines it with the censorship -resistance of Bitcoin and thereby offers affordable as well as fast payment transactions. 

Terra claims itself unique by combining the borderless technology of cryptocurrencies with the mundane stability of fiat currencies. It uses an algorithm that automatically adjusts the stablecoin supply on the basis of its demand. It also incentivizes the holders via the LUNA coin. If you are looking for the best coin to invest today, then you may consider Terra (LUNA) before making a choice. 

Additional Read: Terra Luna vs AVAX 

2. Polkadot (DOT)

Polkadot is a multichain open-source protocol laying the foundation to what we today call web3. It connects and secures a network of specialized blockchains facilitating the cross-chain transfer of not just tokens but also any data or asset type. It allows blockchains to be interoperable with one another. 

Wondering whether Polkadot is Layer 1 or Layer 2? Well, it’s neither. Polkadot is often called Layer 0 metaprotocol since it underlies and describes a format for the network of layer 1 blockchains also known as parachains. Polkadot forklessly and autonomously updates its codebase through on-chain governance as per the will of its token holder community. The native token of the Polkadot blockchain is DOT. According to experts, it is one of the best altcoins to watch out for in 2022. 

Additional Read: How to invest in Polkadot?

3. Cardano (ADA)

Cardano is a very popular competitor to the world’s second-largest crypto by market capitalization, Ethereum. It is a proof-of-stake blockchain system meant for innovators, changemakers, and visionaries to bring in a positive global change. Cardano is one of the fastest-growing projects in the world of cryptocurrencies. 

The team behind the Cardano project always aims to build a secure, scalable, and efficient decentralized network. The architecture that Cardano uses is quite unique employing a dual-layer system that distinguishes it from most other blockchain platforms. The settlement layer (CSL) makes transactions super fast at a very low fee, while the computational layer acts as the pillar or foundation to the remaining functionalities of the protocol. 

Additional Read: Investing in Cardano? Take a deep dive into ADA crypto

4. XRP (XRP)

XRP is the crypto running on a digital payment platform called RippleNet, which lies on the top of a distributed ledger database called XRP Ledger. While Ripple runs RippleNet, the XRP ledger is an open-source blockchain system. XRP was a crypto that was designed to serve as an alternative to Bitcoin with its primary focus on building cheap and instant cross-border payment. It stores its transactions on a public ledger just like Bitcoin called XRP ledger. 

XRP ledger does not use mining to validate and record the new transactions rather it uses a trusted validator node to reach the consensus within record time and maintain the transaction ledger. This is done every 3-5 seconds. These trusted nodes are together called the Unique Node List or UNL. The XRP ledger does not use a proof-of-work consensus mechanism but rather utilizes Federated Byzantine Agreement (FBA) model. 

Additional Read: XRP/BTC Technical Analysis 

5. Solana (SOL)

Solana is a high functioning open-source project banking on the permissionless nature of decentralized finance (DeFi) solutions. This protocol has been designed to facilitate the creation of decentralized applications (DApps). It aims to improve the scalability via the proof-of-history (PoH) mechanism. 

Solana is a Layer 1 blockchain protocol that uses a proof-of-history (PoH) consensus mechanism. It is based on the validation of the time difference between two events taking place on the blockchain. This mechanism runs prior to proof-of-stake and therefore increases the transactional throughput of the network. 

Additional Read: Solana Price Prediction 

6. Polygon (MATIC)

Polygon, earlier known as the MATIC network is the first-ever easy-to-use and well-structured platform for scaling Ethereum and developing Infrastructure. The core component of this protocol is Polygon SDK, a modular flexible framework supporting and building multiple types of applications. 

Polygon solves some of the major issues that Ethereum faces today such as poor user experience, high fees, and low transaction throughput. The primary focus of this platform is to create a multichain ecosystem for Ethereum compatible blockchains. It sought to achieve the same via a simple-to-use framework that let developers launch their own custom Ethereum compatible blockchain in a single click. 

Additional Read: MATIC/BTC Technical Analysis 

7. Algorand (ALGO)

Algorand is a decentralized, self-sustaining blockchain network that supports various applications. The Algorand system is scalable, secure, and efficient for every critical application in the real world. It supports computations requiring reliable performance guarantees to create a new form of trust.

Algorand was developed to improve the efficiency and speed of transactions to overcome the inefficiency posed by Bitcoin. Algorand is designed such that the transaction fees are significantly low and run on a proof-of-stake consensus mechanism.  

Additional Read: What is Algorand?

8. Avalanche (AVAX)

Avalanche is the fastest smart contract blockchain platform in the industry when measured by time-to-finality. It is eco-friendly, sonic fast, and cost-effective. Smart contract applications outperform their competition by deploying on Avalanche. The native token of Avalanche is AVAX. This AVAX token is used to secure the platform by staking and paying  fees. It is a scarce and hard-capped token. 

Additional Read: Top Altcoins to watch out for in 2022

Summing it Up! 

Indeed Crypto has become mainstream with its wide adoption. However, the question of choosing the right coin within your budget to create a good portfolio is what everyone wants to do. One does not require to have a huge amount of money to create a crypto account. A subtle amount with good knowledge is everything you need. 

Do not go for the social media run coins that get pumped and dumped easily. Always do your own research before purchasing any crypto. There is no best altcoin to buy today but there are always good crypto investments to take you a long way. This list contains 8 altcoins under Rs.10,000 that can help you kickstart your crypto journey today. 

Stay updated with the latest crypto news and informative content around the crypto space with the CoinDCX blog. Start your crypto journey today with India’s simplest and safest crypto investment app, CoinDCX


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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