Hidden gems of crypto: 4 lesser-known currencies you should consider buying

The cryptocurrency market has experienced a massive bull run in the past years, with Bitcoin and Ethereum skyrocketing.

Some would consider this a bad time to buy cryptocurrencies, especially for those just getting started in cryptocurrency investing. However, others still choose to buy Bitcoin despite its high valuation, viewing it as a long-term investment opportunity.

Most wish they got involved sooner because Bitcoin and other popular cryptocurrencies are currently valued so high at the moment.

So, is it too late to buy cryptocurrencies?

As with any investment, when the market is at its peak, it is deemed too good to be true. These are the times when investors regret not getting involved earlier.

But it’s still possible to be a part of the cryptocurrency hype and reap huge profits. There are still cryptocurrencies that are relatively unheard of and can increase in value by just holding them.

What are some lesser-known cryptocurrencies?

Here are some of the undervalued yet promising lesser-known cryptocurrencies that one should consider buying.

1. Algorand (ALGO)

Algorand is a new proof-of-stake consensus protocol that promises to secure blockchain transactions.

Unlike proof-of-work, which Bitcoin and Ethereum use for mining where computing power and electricity are required, proof-of-stake is a system that uses no resource-intensive computing, making this a greener and cheaper form of blockchain transaction verification.

This new algorithm promises to solve one of the major problems hampering the mass adoption of cryptocurrency, which is the scalability of transactions.

Read more about Algorand to learn how it works and its growth potential.

2. Dentacoin (DCN)

As the interest in cryptocurrency investment increases, so does the investment choices available.

Many are now opting to invest in cryptocurrencies related to industries that they are passionate about.

Dentacoin aims to disrupt the global dentistry industry with its unique blockchain-based platform for trusted dental treatment reviews and industry-specific cryptocurrency transactions.

Dentacoin builds on the Ethereum blockchain and is mainly used to pay for dental treatments, buy or sell dentists’ services and supplies, buy or sell dental implants, and other procedures at global clinics.

Since launching in 2017, the people behind Dentacoin have partnered with dentists worldwide to increase its usability.

They’ve launched applications that allow their users to earn extra money for completing a certain task, such as the below:

• Jaws of Battle is a game, where players earn Dentacoin for winning battles against the other players.
• The Dentacare app, which helps people establish healthy dental care habits and receive rewards for completing each task.
• It also has an application called Trusted Reviews, where one can public share reviews for service providers and companies they have transacted with.
• Dentavox is a market research platform. Users receive rewards in its Ethereum-based token, Dentacoin (DCN), for sharing their insights (via surveys) on specific topics. The valuable data gathered from Dentavox is shared with companies to help them improve their services.

So, if you’re looking for something different from the usual hype about cryptocurrencies, consider looking into Dentacoin.

3. Selfkey (KEY)

Selfkey is another cryptocurrency that’s geared towards the financial services industry. This project allows people to manage their digital identities in a privacy-centric manner.

This cryptocurrency provides users full control of their identity. It allows for self-sovereign identity, which means each person can decide what information they want to disclose and whom they want to share it with.

The project aims to solve current problems of centralised identity management systems:

• Much personal information is stored on centralised databases such as social media platforms that cybercriminals can hack.
• A lot of work is required to verify identity and present it as valid.

This identity management platform aims to give individuals and companies an easy way to take control of their digital identities, which is crucial in this digital era.

Selfkey’s users may use a single system and application to digitally interact with all the services they need, such as exchanges, ICOs, and banks, without the risk of a data breach.

4. Power Ledger (POWR)

Cryptocurrency offerings need to be geared towards solving real problems. Power Ledger is one of them. It’s a peer-to-peer marketplace for renewable energy, which means its users are connected directly without the need for an intermediary to trade and manage energy.

In other words, users buy and sell renewable energy without a power utility or any governing entity in between them. The company is based in Perth, Australia, and has already launched its platform in an environment-friendly city.

Using this marketplace is a greener option than sourcing renewable energy from a power utility. It’s a simple, user-friendly system that has the potential to disrupt the entire energy market. Its blockchain-powered platform is transparent and secure, which gives it growth potential.

So, if you’re looking to invest in projects that will positively impact the environment, Power Ledger is a great choice.

Consider lesser-known cryptocurrencies as part of your portfolio

Many would still say that those who enter the crypto market now are still early adopters. But this may also be the best time to explore lesser-known cryptocurrencies or tokens rather than putting all your eggs in the most popular coin or token.

These cryptocurrencies listed above are not necessarily the best performers in the market, but they’re worth looking into for their potential to grow.

You just have to do your research and patiently look for coins that could significantly impact their industry.