Two Cryptocurrencies to Consider If Practicality Is Your First Goal

The Motley Fool Ascent's 2024 Cryptocurrency Investor Trends Survey found that many popular cryptocurrencies lack utility, which deters investors. Over 35% of non-crypto owners "did not know what to do with it."  

Fair enough. We don't see any need for dog-themed meme coins, and Bitcoin (CRYPTO: BTC) is still mostly a long-term investment. Fortunately, two high-quality cryptos with great utility should be on your radar if utility is your priority.  

Ethereum Ethereum is my favorite utility crypto. It has a diverse blockchain ecosystem and many common crypto uses. You could acquire an Ethereum-minted non-fungible token (NFT) with Ethereum.   

Use your bitcoin to engage in a DeFi protocol to increase your investment yield. Any Ethereum blockchain decentralized exchange can exchange Ethereum for another coin. You could even play Ethereum-based blockchain or metaverse games with your crypto.  

Ethereum is more than a coin. The blockchain ecosystem's events are also accessible via its digital admission ticket. That's significant since Ethereum dominates almost every relevant blockchain sector. Ethereum dominates NFTs and accounts for 56% of blockchain DeFi activity. This entry ticket is valuable.  

Solana My second suggestion is Solana (CRYPTO: SOL), which is useful like Ethereum. Solana can do anything Ethereum can. Solana can be used to buy NFTs, play blockchain or metaverse games, and swap tokens on decentralized exchanges.

Solana's mobile crypto strategy is unusual. The Solana blockchain-optimized Saga crypto phone is different from Ethereum. This device has mobile apps that standard cellphones don't. Of course, the Solana blockchain powers such apps, adding to their utility.  

Utility cryptos vs. stocks These two utility cryptos resemble utility equities. Like power, gas, and water utilities, these two cryptos offer basic blockchain services to users and developers. Both are Layer 1 blockchain networks and building blocks for new products and services. Start with Layer 1 blockchains if utility is your priority.  

One major difference between utility cryptos and utility equities is their enormous upside potential. You don't get that from stable, dividend-paying stocks that supply essential services. The value of Solana rose almost 900% last year. Ethereum gains about 95,000% since 2015.  

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