These Altcoins Offer a ‘Buying Opportunity’!

Dominic Basulto and RJ Fulton, analysts of the US consulting giant The Motley Fool, shared various articles about altcoins that offer buying opportunities in the upcoming period. Here are the details…

Some altcoins are on analysts’ radar

Crypto has come a long way since its humble beginnings. Once a market with only a few options for investors, crypto has evolved into a diverse ecosystem filled not only with cryptocurrencies but also with companies creating business models that leverage these crypto assets. Some of the most lucrative companies in the crypto industry have been exchanges. Known as centralized exchanges, these companies provide investors with an easy-to-use platform to buy and sell cryptocurrencies and take a stake in every transaction to make a profit.

In contrast, there are decentralized exchanges that are not managed by any company. Instead, they use technology known as smart contracts that facilitate trades without the need for a company. cryptocoin.com As we reported, after 2022 when many famous centralized exchanges crashed, more and more people seem to be realizing that decentralized exchanges (DEX) are a more viable option for a variety of reasons.

DEXs and altcoins gain traction

First, according to analyst RJ Fulton, they are more secure than centralized exchanges because they do not hold users’ funds. In a centralized exchange, hackers can target the exchange to steal users’ assets. Instead of a centralized exchange holding user funds, decentralized exchanges allow users to keep their assets in their own wallets and transact directly with each other.

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Second, decentralized exchanges offer greater privacy than centralized exchanges because they do not require users to provide personal information. On a centralized exchange, users are often required to provide personal information such as names, addresses, and Social Security numbers to create an account. This information may be vulnerable to data breaches, identity theft, and other forms of fraud. In contrast, decentralized exchanges do not require personal information so users can protect their privacy.

Finally, decentralized exchanges are more transparent compared to centralized exchanges because they are built on a Blockchain network. This means that all trades are recorded in a public ledger and can be audited by anyone. Centralized exchanges, on the other hand, are not transparent because they can manipulate prices or hide information from users. This lack of transparency can lead to market fraud and insider trading.

Among popular altcoins, Uniswap offers a potential profit

So what does all this mean for investors? According to the analyst, we actually have a potentially lucrative opportunity – to invest in Uniswap (UNI), the world’s most popular decentralized exchange. Uniswap has its own token UNI and has become one of the most widely used ecosystems, allowing users to not only buy and sell crypto, but also buy shares, lend, borrow and complete many other decentralized finance (DeFi) related functions.

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As people become more aware of the benefits of using decentralized exchanges as opposed to the more common centralized exchanges, Uniswap and its token are poised to take advantage of it. In fact, this awareness seems to have already begun. In March, Uniswap outperformed Coinbase Global, one of the most popular exchanges, by over 40 percent. Volume statistics show that Uniswap has processed more than $70 billion, while Coinbase has just under $50 billion. This marks the second month in a row that Uniswap has had more volume than Coinbase.

Moreover, this trend has a chance to grow further as centralized exchanges face increasing pressure from legislators seeking to regulate the cryptocurrency market. While regulators can target centralized exchanges and corporations, they cannot target decentralized protocols like Uniswap. It may be a wise decision to invest in Uniswap, whose price is still far from its all-time high, at today’s prices as the viability of decentralized exchanges becomes more apparent.

Analyst hopeful for biggest altcoin ETH

On the other hand, Dominic Basulto, another The Motley Fool analyst, pointed to the leading altcoin Ethereum (ETH). According to the analyst, there is one issue that has plagued Bitcoin for years and that is the environmental impact of Bitcoin mining. Bitcoin is increasingly becoming a part of the global climate change agenda, and this will affect not only how investors perceive Bitcoin, but also how regulators around the world view Bitcoin.

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On April 9, The New York Times published a controversial article about how bad Bitcoin is for the environment, focusing on the energy consumption of Bitcoin mining. While many in the crypto community criticize the article for being biased and untrue, looking at the big picture shows that climate change is a very important topic right now and many people, including some lawmakers and regulators, are very passionate about it.

“But I think something fundamentally changed in September 2022. That’s when Ethereum changed from a proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) network, instantly reducing its energy consumption by 99.99 percent. If Ethereum can do it, why can’t Bitcoin?” says. Still, the analyst says, “It is clear that Bitcoin is the best crypto investment on the planet right now.” “With Bitcoin up 85 percent this year, it’s hard to make a claim for any other cryptocurrency,” he says.

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