It’s surprising to see how many people still think Bitcoin is the only game in town. Even among those who are somewhat familiar with crypto, you’ll find that many don’t pay attention to cryptos outside of the big 3: Bitcoin, Ether, and XRP (or Litecoin depending on who you ask). But there’s a world of cryptocurrency wonders out there, and by not considering them, you might be missing out on opportunities. Many of them have lots of growth potential. Others are backing very interesting projects that could revolutionize whole industries and have a great usage case. Let’s take a look at three cryptocurrencies you probably haven’t heard of.
Zcash is one of the coins everybody should pay attention to. One of the reasons for this is because of its strong privacy features. Privacy is one of the biggest selling points for cryptocurrencies, some so much so that they have their own category. It’s also more suited to be used as a currency than Bitcoin thanks to its much faster transaction speeds and low fees. And when it comes to privacy, even Edward Snowden praised Zcash for it, a major endorsement that helps solidify the brand.
If you’ve heard of Ethereum, then you probably know that there are plenty of coins out there that present themselves as “Ethereum killers”. EOS is one of them and is probably the most well-known, though it still remains unknown to a large portion of the public.
Much like Ethereum, EOS is a platform for decentralized apps. Users can host apps on their network and use the coin to perform transactions and keep the apps running. It has improved on some of the issues with Ethereum, namely scalability and high fees. EOS can also process transactions faster than Visa.
Another great thing about EOS is that it can be found on many exchanges, like Kraken. Exchanges like Kraken have generated hype online because of how easy they make it for people to buy popular and little-known cryptocurrencies using fiat. Many exchanges only accept other cryptocurrencies, which is one of the reasons why stablecoins are such a major sector in crypto. This brings us to our next coin.
Many people in crypto either don’t know Tether or have heard about it but don’t understand why it exists. Tether is a stablecoin, meaning that it follows the movement of a more stable underlying asset. In this case, Tether follows the movement of the US dollar through an algorithm. What this means is that you have a cryptocurrency that is as stable as the dollar but can be readily traded on most exchanges.
Other examples of stablecoins include True USD and Paxos Standard. While both of these are pegged to the US dollar, you also have stable coins that are backed like commodities such as gold or even real estate.
If you didn’t know these cryptocurrencies, we suggest that you give them a closer look. There are so many coins out there, so try to go off the beaten path and look for hidden gems.