The rise in the popularity of cryptocurrencies left many in the financial services world surprised. No one had expected a digital asset class with little to no physical attributes to have such a strong impact in the financial industry. Leveraging the unmatched potential of blockchain technology, cryptocurrencies have enabled investors to have more control over their assets and have been registering attractive returns in the past.
Given how this new asset class has been drawing investors, innovators have been busy launching new cryptocurrencies with varying use cases. If you are a rookie investor and are looking to invest in the cryptocurrency market, we have selected 3 cryptos that could potentially provide huge returns. The three coins are CashFi (CFI), Ripple (XRP), and Binance Coin (BNB). Here’s a look at some of the main features of these cryptocurrencies:
CashFi: Unleashing the potential of liquid staking
The CashFi platform has an ERC20 token, CFI, that can be used for staking and all other transactions on the CashFi network. Users interested in purchasing it can do so on presale.
As a decentralized cryptocurrency platform, what sets CashFi apart is its ability to tackle challenges that riddle several other similar platforms. Problems like asset inefficiency, lower yields, lack of sufficient security measures, and low liquidity affect user experience. In CashFi’s case, liquid staking solves these problems. This is so because, in liquid staking, a user’s assets are delegated through an intermediary platform instead of being locked in an escrow or frozen. The intermediary platform stakes the CFI Tokens on behalf of a user without restricting their access to the assets.
Another advantage of onboarding the CashFi network is that you can trade in NFTs and boost your earnings. With the CFI Token, users will also be able to participate in NFT marketplaces across blockchains. Even for those interested in launching their own NFTs, CashFi helps you mint NFTs in a cost-effective manner via seamless sales and auctions.
The CashFi platform will also allow easy and quick trading of artificial or synthetic assets. Users will be able to trade synthetic versions of commodities without having to purchase the actual commodity. The synthetic assets space is an upcoming sector and CashFi could benefit from being an early service provider in this space. CFI synths will allow users to trade commodities while enjoying access to sufficient liquidity sourced from multiple marketplaces.
If you want to know more about CFI Token, you can visit the links given at the end of the article. For more regular updates, one can follow CashFi on social media.
How Ripple helped Nium ‘globalise faster’
What sets Ripple apart is its focus on leveraging blockchain technology and cryptocurrencies to build high-impact business solutions. These solutions enable entrepreneurs in tokenising and managing their digital assets. For staking, investors use its native token XRP. With a decade’s worth of experience, Ripple’s enterprise-grade solutions guarantee a greater degree of transparency, security and cost-effectiveness over traditional financial services.
Plus, clients are able to reap benefits like higher earnings, instant payments, audience engagement and discover new sources of revenue without needing a lot of capital. In a recent interview, Nium Global’s co-founder and CEO said that Ripple helped the company globalise ‘faster’ by helping it reduce domestic transfer rate costs for its clients while helping it carve a niche for itself in the market. The XRP Token is a potential great bet for the long term.
Binance Custody to launch an escrow service
A wide array of options to choose from and a transaction fee that is even less than 0.10% are some of the main factors that make Binance a unique cryptocurrency exchange. Currently, users can trade in more than 600 cryptocurrencies on the platform and the platform has over 90 million registered users. It also has a native token, BNB, that can be used for staking on the platform.
Another unique feature of the Binance Coin (BNB) is its security protocol. For instance, 10% of all trading fees are stored in a secure asset fund to shield a section of user funds. Its personalised access control feature helps users restrict addresses and devices that can access their accounts. In a recent development, Binance Custody announced that it will be launching its Binance Escrow service soon. Acting in capacity as an independent third party, Binance would facilitate secure cryptocurrency-based transactions between users, hold digital assets in escrows and distribute them fairly in accordance with the terms of a pre-decided agreement.
These three coins could potentially help in generating huge returns in the long term. Research about a token before investing in it and never invest more than what you can afford to lose.
Find out more about CashFi:
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