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Three “Alt Coins” to Add to Your Watchlist

by , 19 March 2021
Three “Alt Coins” to Add to Your Watchlist
Bitcoin may be the biggest, but it's not the only crypto out there.

There are literally thousands of different crypto - some good, some bad, some could change the fabric of our world, some might try but ultimately fail.

Today I'm going to share three you should keep your eye on.

These crypto are not recommendations per se.

Rather, they are a watchlist of cryptocurrencies that if you're going to buy some, you should be considering.

Let's get started…
 
 
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Crypto to Watch #1 and #2: Uniswap & 1inch – “Decentralised exchanges”
 
Uniswap and 1inch are both forms of decentralised exchanges.
 
A decentralised exchange (DEX) is where people can trade assets without having a centralised custodian.
 
For example, imagine a world where you could put your property on the market, for a set price, let’s say 12 BTC. Then you could have people check it out, look at it, assess if it’s something they want to buy.
 
Then when someone is ready to pay the asking price, they simply log on to an exchange, and make a trade – say, 12 BTC for the property.
 
Instantly, funds are transferred to your wallet, and ownership of the property passes to the person who made the purchase.
 
With that, you don’t know who it was that bought it. You just got the funds you wanted and the property was sold with legal transfer of ownership.
 
Sounds far-fetched…But that’s how decentralised exchanges could work one day. And the advantage is you won’t have extra costs like commission.
 
That’s why decentralised exchanges hold great promise. The idea that you can swap, exchange, buy, sell any asset for any other asset anywhere, anytime, all the time.
 
That kind of asset transaction and transfer will be revolutionary. And it could propel the likes of Uniswap and 1inch to unimaginable heights.
 
In short: The decentralised exchange is here to stay, it will grow in popularity and functionality. And it could the future of markets and trading all assets.
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Crypto to Watch #3: Filecoin
 
In today’s tech connected world – data has become an extremely valuable commodity.
 
It’s worth so much that companies like Google and Facebook, have built companies worth $1.3 trillion and $733 billion off the back of it.
 
Those two companies' combined are worth more than the entire circulating value of all cryptocurrency in existence.
 
While creation and value of data is important, access to that data and information is also crucial.
 
When it comes to the access and control of that data, two companies reign supreme - Amazon and Microsoft.
 
These are the two biggest cloud (i.e. data) storage providers on earth.
 
Amazon through AWS controls around 47.8% of the public cloud services market. Microsoft through Azure (in second) controls around 15.5%. The rest of market is fragmented out with minor amounts.
 
These two effectively control 63.3% of the internet. And that’s how they stay so dominant. They can dictate prices, access, the whole market.
 
However, a small crypto – Filecoin – aims to change that with a distributed, decentralised worldwide file storage network.
 
It’s a big idea. And it’s got massive potential if it can pull off the vision it has for global decentralised data storage. It’s still very early stage, but it’s growing at a fast rate and it has the potential to dethrone the likes of AWS and Microsoft Azure. It already has more than 1 exbibyte (EiB) of storage capacity on its network.
 
In short: There’s more to the wild world of cryptos than just Bitcoin and Ethereum. Many smaller and unknown projects are working on big things that could revolutionise the global industries.
 
See you next week.
 
Joshua Benton,
Managing Editor, The South African Investor


Three “Alt Coins” to Add to Your Watchlist
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