Altcoin Potential During COVID-19 Pandemic
In the capitalist world that we’re in, there’s a saying that most of the money is made during hard times. Not by the normal people, but by the smart people. SP500 and Dow Jones took a huge hit when the COVID-19 pandemic started. Same happened with bitcoin and other cryptocurrencies.
But there’s a difference between SP500, Dow Jones and the crypto sector – the crypto sector is not so much related to a certain country’s economy or events. That’s why people are focusing so much on decentralization, so that value should not depend on a single factor. Let’s take Venezuela, for example. This beautiful South American country reached an inflation rate that cannot be stopped – 130,060% in 2018.
Now that we understand a bit why cryptocurrency is so important, let’s see which are the altcoins with a great potential even in a pandemic time. We’d like to tell you from the start that this is not a financial advisor and do your own due diligence before investing in any of the following cryptocurrencies.
MCO & CRO
These two cryptocurrencies have a great potential in the future months. MCO is staked in order to unlock certain benefits from the crypto.com cards. If you’re interested to know more about crypto.com, make sure to check the wirex vs crypto.com comparison and understand why crypto.com is the best cryptocurrency card that you can have.
CRO is the native cryptocurrency of the crypto.com platform. This cryptocurrency its used to get fees reduced on the upcoming crypto.com exchange as well as to stake it and get up to 18% back per year. Both of the cryptocurrencies have a 10-20% increase potential, even in times like this. In fact, they just made their cards available in Europe – so the demand will increase soon.
Binance coin is another altcoin with a good potential. The coin can be used for having a fee discount on the binance exchange, the largest cryptocurrency exchange in the world. What’s awesome about BNB is that it started as an ERC-20 token and now it has its own chain which can support up to a few thousand TPS.
The value of BNB decreased when the COVID-19 pandemic started, but it’s now growing slowly – only 10% over the last week. With the recent CoinMarketCap acquisition by Binance & their future building plans, BNB can surely touch its past peaks again.
The native cryptocurrency of brave browser is another top pick for this period. In fact, they were listed today on the biggest cryptocurrency exchange from Japan, Bitflyer. The cryptocurrency is used to power the brave browser as well as reward people for watching ads. People can also use the BAT token to contribute to their favorite content creators as well as influencers, certain websites or youtube channels.
BAT is widely used worldwide and had a $121 million volume in the past 24 hours. Its value is $0.174 but it appears that an ascending trend is coming for it.
Blockstacks (STX) is one of the most interesting altcoins right now. After successfully launching a sale with the SEC’s approval and having over 200 dapps created in their ecosystem – blockstacks is on the right path for a great future.
The cryptocurrency was also listed on 28 october 2019 on Binance, the leading cryptocurency exchange. What’s interesting about it is its proof of transfer whitepaper – or PoX: Proof of Transfer mining with Bitcoin. Basically, the cryptocurrency wants to offer alternatives to any centralized web applications. On their huge lists of dapps, there’s one similar to patreon, one similar to Google forms and so one. One thing is certain – if people will take care of their privacy and data in the future – Blockstacks will become one of the best alternatives to the current centralized applications.
The altcoins picked by us are selected from a list of potentially profitable cryptocurrencies, but we focused on their purpose, their team, the last year’s evolution and what they are doing to increase adoption.
Even in a pandemic, the winners are the companies that are building. And eventually, the results will come.