It took Microsoft 44 years to reach $1 trillion, Apple 42 years, and Amazon 24 years. But only 12 years by Bitcoin. And Ethereum native currency might even take less than that.
Bitcoin is currently well over the $1 trillion mark, and Ethereum sits close to $300 billion. The total market cap of Cryptocurrencies – including all the 6000 Crypto tokens – has broken through the $2 trillion ecosystems. Buy Bitcoin or other Cryptocurrency to become a part of this massive financial ecosystem.
Bitcoin might be one of the most powerful Cryptocurrencies in the market. But, by no means it is the only Crypto suitable for investment. In fact, depending on your trading style and your bank statement, Bitcoin might not be the perfect asset for you to invest in.
This guide will discuss other Cryptocurrencies that can be a better option other than Bitcoin this year.
Important Cryptocurrencies Other Than Bitcoin
When we talk about Cryptocurrencies, the only thing that comes to our mind is Bitcoin. That is how dominating Bitcoin has been in the Crypto trade market. Although Bitcoin has been dominating the market, that doesn’t mean it is the only Cryptocurrency you can invest in.
There are thousands of Cryptocurrencies that can help earn the same amount of profit. Moreover, these currencies might be safer than Bitcoin.
Ethereum is second only to Bitcoin. In fact, most people compare it to Bitcoin. Ethereum is an open-source operating system and computing platform that aims to implement global digitalization for executing peer-to-peer contracts.
Ethereum’s high-end technological aspect allows the user access to various Defi apps. Moreover, the potential of Ethereum is far greater than Bitcoin as its application is not limited to only making transactions.
Most of the new Cryptocurrencies come from the small changes in Bitcoin Code. Take Ethereum, for example. However, in the case of Rippe, the codes have been written from scratch, under the order of a venture fund.
Ripple was introduced in the market to increase the speed of transactions and save money on banking.
Ripple technology is already being used by the Bank Of America. The other fact that makes Ripple different from other Cryptocurrency is that it cannot be mined. Ripple is a centralized system where money already exists in digital form and belongs to Ripple Lab.
Bitcoin is anonymous until the owner of Bitcoin is found. That is, all Bitcoin transactions are visible. This helps the user to track all the movements of the transaction. The transparency of the transaction is so clear that you can find out the history of utility bill pay using Bitcoin 5 years ago.
However, it is impossible to track other people’s traction in the Dash system. This is because transactional data is not published in blocks. The data is processed by the operators or miners.
Litecoin was created in 2011 by a former Google engineer, Charles Lee. Litecoin, just like Ethereum, is a hard form from Bitcoin. One of the key differences between a Bitcoin Transaction and a Bitcoin transaction is that Litecoin is faster than Bitcoin.
If the blocks are created in 10 minutes in Bitcoin transactions, then it would take only two minutes for Litecoin to build blocks. This is why Litecoin can process more transactions than Bitcoin.
Similar to Bitcoin, the amount of Litecoin is limited in the market to 84 million.
Dogecoin is the first generation Cryptocurrency that can be used for making transactions globally. Dogecoin shares many technical features with its ancestor, Bitcoin. Consequently, the network is secure and provides real-time consensus.
Dogecoin uses a proof-of-work consensus algorithm to keep the network secure. As a result, it is highly secure and almost hack-proof. For a hacker to hack the system, they would need to control 51% of the network’s hashing power.
Some Other Cryptocurrencies
Listing down only a few Cryptocurrency out of 6000 might not do justice. So here are a few more Cryptocurrencies that can be used for investment.
Without any doubt, Bitcoin has changed the world of finance. However, Bitcoin is not the only one that supports the digital financial market. Crypto tokens like Ethereum, Litecoin, and Ripple have been supporting the market with their fullest potential.
Based on the ongoing technological development, this seems to be only the start of something big. In this article, we have listed five different Cryptocurrencies that are the most important after Bitcoin.
If you are new to the Cryptocurrency industry and looking for Bitcoin Alternative coins to invest in, consider investing in the Cryptocurrencies mentioned above.
Ani Johnson is a passionate blogger. She loves to share her thoughts, ideas, and experiences with the world through blogging. Ani Johnson is associated with TheCBDMagazine, TheCasinoMagazine, Gossipment, TheParentsmagazine, ThePetsMagazine, TheDatingDiary, TheLegalGuides, EssayWritingGuides, TheSportsMag.