In this post we will talk about “Best Cryptocurrency to invest, Previously we discussed “top 10 cryptocurrencies of all time“.
In financial investments, it is a common practice to put all eggs in different baskets, and although Bitcoin appears to be the golden basket in which to place your eggs, it may interest you to know that there are quite a number of safe alternatives.
These alternative digital currencies referred to as altcoins, are also growing, and operate in quite similar principles with Bitcoin and even if they are not all yet as demanded as Bitcoin, they have big markets also.
Because of the growing demand of altcoins, many Bitcoin wallets can now be used to store these altcoins, Bitcoin exchanges as well, now offer an opportunity to exchange Bitcoin for these altcoins directly at an agreed rate, or even buy them directly with fiat. (Related reading, see: BITCOIN PRICE PREDICTION (SHOULD YOU INVEST IN BITCOINS-ANSWERED))
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Top 5 Best Cryptocurrencies Other Than Bitcoins
- Ethereum (ETH)
- Litecoin (LTC)
These altcoins are safe and also pretty stable in price, so let’s take a look at the top five coins competing with the Bitcoin.
1) Ethereum (ETH)
Ethereum was developed by a cryptocurrency programmer, Vitalik Buterin and launched in 2015, with 11.9 million coins pre-mined. It is a decentralized platform that runs smart contracts and uses Blockchain, meaning it is free from fraud, censorship or third-party interference.
Ranked number 2 by coinmarketcap, Ethereum is currently the most competitive to Bitcoin and has a market cap of almost $30 billion (total value of all the coins in circulation). Ethereum is also open source, meaning the contents are transparent and void of malicious contents. Ethereum has its own Blockchain.
Related readings, see:
2) Litecoin (LTC)
Litecoin is a peer-to-peer cryptocurrency, which is open source and not controlled by a central authority. Released in 2011, by former Google employee, Charlie Lee, Litecoin naturally takes its place after Ethereum.
The major reason for the buzz around this currency is that it carries almost zero payment costs, has a comparatively quicker generation time (in mining) and is transferred very quickly, much quicker than Bitcoin.
There are 84 million Litecoins to be mined, and this constitutes its maximum supply, this limited supply assures its price stability.
Litecoin has tripled its market Cap between November 2013 and November 2017, with a current market cap of over $3 billion.
Initially released in 2014 as XCoin and later changed to Darkcoin, and then Dash, this digital currency is a peer-to-peer cryptocurrency that is also open source. Dash was developed by Evan Duffield and is decentralized, with an aim to have the most user-friendly interface.
As its name goes, Dash offers instant transactions and private transactions, with transactions being confirmed in less than a second and being more secretive than Bitcoin. Dash also operates using Blockchain. Dash has a market cap of over $2 billion.
Read more about Dash here: Dash – Everything You Need to Know
Ripple is actually a global payment network which uses Ripple(XRP), as its currency. Among the many altcoins, Ripple(XRP) offers something unique, in that it offers a most efficient way to transfer money internationally while being cost effective.
Released in 2012, Ripple is an open source cryptocurrency that is now used by banks such as Santander, UniCredit, and others to transfer funds faster internationally. Ripple has provided a system that is expected to replace the Western Union, PayPal and SWIFT soon.
Ripple is not decentralized as the other altcoins reviewed here and has a market cap of over $8 billion.
(Related reading, see: HOW TO BUY RIPPLE (XRP) – A BEGINNER’S GUIDE)
Zcash transactions are publicly displayed in a blockchain, but with an option to hide the sender, recipient and amount transferred. Like Bitcoin, Zcash has a limited supply of 21 million units and has a market cap of over $500 million and a price closely following Ethereum.
What Do Other Investors Know That You Don’t?
Most of these altcoins are basically a modification of Bitcoin, considering they were modeled after it and are more or less better than Bitcoin in a way or another. Therefore, considering the lower prices of these coins, and the possibility of their appreciation in price, owning an altcoin is well worth it. Bitcoin will surely enjoy many more days as number one, but the possibility of any of these altcoins taking over tomorrow is always real.