Cryptocurrency marketplaces are known for their volatility. Sometimes, they last for lengthy periods. The causes could be anything. For instance, political instability and resulting economic downturns, are powerful reasons. Then again, some countries are tightening existing rules and regulations. Whatever is the case, Regardless, investors do not wish to stop dealing with them. They would still like to know which coins can sustain in an atmosphere of price fluctuations. Find the latest trading and investing tips on cryptocurrencies at Bitcoin Wallet.
Here are three coins that are wonderfully dependable, regardless of whatever the market situation is like.
Sam Bankman-Fried, is the CEO and Founder of the FTX cryptocurrency exchange, He is well-known for his connection with the Web3 sector. The token linked to this exchange is the FTT token. It came into being in the earlier half of 2019, but has already become quite popular among crypto enthusiasts.
The FTT token operates on the proof-of-stake (PoS) consensus mechanism. Therefore, investors must possess wallets that support Ethereum. Only, then, may they store FTT tokens successfully.
The FTX exchange urges investors to go in for staking, such that there is stability in the value of the coin. In turn, this will lead to increased returns. FTT has another unique feature too. It undergoes coin burns, which aid in generating healthy market movements via lowering of inflation.
FTT token is excellent, not only for experienced investors, but beginners too. It remains relatively stable, not undergoing wild swings like meme coins, Doge, etc. It also helps that this token minimized losses, when the recent crypto crash took place. Thus, the FTT token is a highly predictable coin.
Dogecoin began as a parody, but has been gathering much appreciation and popularity over the years. It operates on an open-source platform. This coin has many features which makes it different from other cryptocurrencies.
For instance, there is no maximum supply in circulation. Miners gain 10,000 DOGE per block that they create every minute. According to surveys, almost 14,400,400 tokens are launched every single day. They reach the marketplaces for sale, or miners hoard them in their own wallets. Therefore, investors need never worry about running out of DOGE.
Then again, Dogecoin operates on a decentralized platform, whose nodes are all highly secure. The safety lies in the form of a digital, distributed ledger, which functions on blockchain technology. The ledger records and stores every single transaction made on the Dogecoin network. Cryptography is another security feature in this network.
- Dogecoin’s consensus mechanism is proof-of-work (PoW). Miners must resolve complicated mathematical problems, before they gain access to a DOGE block. Whatever they earn, they may keep in their own accounts, or sell on cryptocurrency exchanges.
Investors may use DOGE for paying for purchases. The processing of payments is quite rapid, sometimes, just about a minute or so.
To sum up, price fluctuations can be terribly upsetting. However, as far as Dogecoin is concerned, it is possible for investors to purchase at low prices and sell at high prices. Thus, short-term investments should prove beneficial.
Cosmos is the Internet of blockchains. Its aim has been to set up a network of crypto platforms. These networks would be united with one another via open-source tools. The tools would help in streamlining transactions between the networks. Additionally, Cosmos’ ecosystem of networks would enable the sharing of tokens and data, without interference from third-party intermediaries.
There are three layers to the Cosmos network.
- Networking, wherein communication takes place between blockchains and transactions.
- Consensus, wherein nodes reach an agreement on the existing status of the ecosystem.
- Application, wherein transactions are processed, and there is updating of the network’s state.
Cosmos operates on the proof-of-stake consensus mechanism. Its native cryptocurrency is ATOM. This staking coin contributes to the governance and security of the Cosmos hub. ATOM is one of those rare coins, which always awards value, especially in the long-term. True, ATOM must confront volatility too. Regardless, the investor may receive reasonably healthy returns on the amount invested. It is because Cosmos (ATOM) has the backing of marvelous fundamentals. It has only moved from strength to strength, since its launch. Therefore, investors may depend upon it as a sound investment.