How UNI and DOGE could boost your portfolio
With the cryptocurrency market always expanding, here's how Uniswap (UNI) and Dogecoin (DOGE) may help you boost your crypto portfolio.
Not only are new cryptocurrency additions made on a regular basis, but the market is continuously shifting, leaving consumers scared and fearful of financial failure.
As a result, investors must be aware of cryptocurrencies that have a high likelihood of a high-end return. It's also a smart idea for investors to diversify their portfolios by trying out different blockchains and currencies.
Most crypto enthusiasts focus on the top 10 most popular currencies, including Bitcoin (₿) and Ethereum (ETH), which dominate the market, causing other blockchains to be eclipsed by popular decentralised finances.
Uniswap (UNI) and Dogecoin (DOGE) are two cryptocurrencies that I believe need more attention right now. Here is why.
Uniswap (UNI): The Open Source Protocol
UNI is a decentralised exchange (DEX) that also exists within the Ethereum blockchain, using the ERC-20 token.
Decentralised exchanges are peer-to-peer (P2P) transactions that are done automatically, without the need for the involvement of an intermediary. UNI has also implemented smart contracts - which are distinct codes that exist in a blockchain.
These contracts share similar capabilities that cryptocurrencies do such as transferring funds autonomously based on the parameters within a code. The UNI token allows community members to own and control the direction of the cryptocurrency.
Uniswap’s infrastructure has thrived off its building trust in the crypto community through its open accessibility, rigidness, and strong security. The cryptocurrency has contributed significantly to the evolution of decentralised finance (DeFi).
It has created new trading opportunities for cryptocurrencies, offering a more accessible and transparent alternative to centralised exchanges.
Dogecoin (DOGE): The P2P currency
Dogecoin (DOGE) is a cryptocurrency that operates on a P2P network, allowing users to trade effectively without relying on a third party.
P2P is highly regarded by cryptocurrency users since it enables them to conduct immediate worldwide transactions without the involvement of intermediaries.
Transactions done using Dogecoin are also fully anonymous, which is another feature that people like when utilising cryptocurrency. Billy Markus, a software developer, established the currency to create a worldwide cryptocurrency that would improve P2P services.
DOGE's market capitalisation is predicted to be $17 billion by 'The Portugal News'. The currency started as a joke based on the popular "doge" internet meme of a Shiba Inu dog.
Despite its satirical origins, it has grown a strong and committed following. With the current price of $0.08738, now may be the perfect time to invest in DOGE.
