Best alternatives to Bitcoin
Today, you can no longer say, as five years ago, that cryptocurrencies stand apart. However, it is often difficult for a non-specialist to navigate. In addition to the technical vocabulary, the speculative aspect, which is difficult to master, as well as various opportunities presented as an indispensable condition for wealth, we often spend hours analyzing the market.
According to Coinmarketrate.com, there are already more than 12 thousand cryptocurrencies. Despite this power, altcoins are different. There are currencies that are worth a little less than Bitcoin, there are those that are practically worthless. Some are easy to buy or exchange, others can only be used as gas. The crypto space is amazing, and it is not surprising that it takes time to figure it out.
Many will tell you: cryptocurrencies remain as promising as they are unstable. However, some people assume that their entire existence implies an increase in their value or even its stabilization in the long term.
The whole world is watching how the teams of these crypto projects realize their aspirations. And then it becomes clear that there are excellent tokens that are no worse than the king himself, and in some nuances even better.
And so, these are the tokens:
Historical and iconic, Ethereum remains the leading cryptocurrency. It is full of history, advantages, disadvantages and investment opportunities.
ETH, the second-ranked CMR cryptocurrency with smart contract technology. Ether, created in July 2015 by Vitalik Buterin, remains one of the most popular cryptocurrencies. Its blockchain remains the basis of many altcoins. At the moment, its capitalization is estimated at 347 billion US dollars.
First of all, Ethereum remains a historical and large blockchain. Founded in 2015, the currency offers smart contracts through full Turing. In other words, the currency is used to verify the data, and then to conclude a contract.
These contracts are also publicly available. Everyone is looking forward to the transition of Ethereum from the Proof of Work (PoW) consensus to the new Proof of Stake (PoS) consensus.
Everything is simple in terms of the quality of the design, but, above all, in terms of its usefulness in the market. Although some cryptocurrencies provide little added value, Ethereum allows everyone to benefit from their block chain through various structures.
Simply put: Ethereum remains a useful and used altcoin, which makes it a popular cryptocurrency with a significant price: ~ $ 2,965. at the time of writing.
As one of these historical cryptocurrencies, Ripple stands apart. Open source code built on the RPCA (Ripple Protocol consensus algorithm) algorithm, the currency remains popular and damn useful.
Ripple is older than Ethereum. Open source and based on the RPCA consensus, the currency remains to this day the sixth largest capitalization in the world with tokens worth at least $ 45 billion. It is a cryptocurrency founded in 2011 by Arthur Britto, David Schwartz and Ryan Fugger. Not poor, available in the amount of up to 100 billion tokens, the currency remains innovative and powerful.
The currency created in the gross settlement system through the foreign exchange market remains the transaction protocol. By allowing you to reduce transaction costs, such as securing them, regardless of their size, Ripple has very quickly established itself as a mandatory element in the field of money transfers.
Of course, the motto remains open source, under the ISC license and written in C ++.
This is a cryptocurrency founded in 2011. With a small number of final blocks (84 million), a block size of 1 MB, an MIT license and a very open source aspect. Today, the cryptocurrency remains a cult for the Internet.
Litecoin, distributed under the MIT license, remains one of the oldest digital currencies. LTC, founded in 2011 by Charles Lee, is still one of the largest in the world with assets of at least $10.5 billion. Litecoin is very similar to Bitcoin, but in some aspects it diverges. Transactions here are faster than BTC, the hash here is in Scrypt, and the currency remains a registered trademark.
As for mining, we can easily solve this problem individually or through pools. However, unlike Bitcoin, the currency remains very greedy for mining, in particular, because of the Scrypt hash. Otherwise, many will compare it with a Chock, and with good reason, because it remains a highly valued crypto asset in the world.
Indeed, such a currency as Litecoin will be present on almost all platforms and exchanges. De facto, we will be less exposed to volatility due to the overall image of the currency. Its rather small number of blocks may also suggest that the price may eventually stabilize and reach very high levels.
Bitcoin’s younger brother, Bitcoin Cash, remains at least an unprecedented altcoin in the ranking of the best. By focusing on its advantages, disadvantages, and especially on its ability to generate capital gains, you will understand how valuable this coin is.
This is a cryptocurrency from the Bitcoin hard fork. In other words, the bifurcation of the Bitcoin blockchain. Due to the increase in the number of delays in bitcoin transactions, transaction costs were higher. Bitcoin became more expensive, and in 2017 a fork was taken, where Bitcoin Cash was born.
As for the technical part, Bitcoin Cash remains equal to Bitcoin from the point of view of technology: the block size repeats the size of the original VTS blockchain (32 MB), decentralization remains in the game, and the language used remains C ++ under the Mit license.
Of course, for most users, BCH remains a black sheep. There are some differences, but the size reduction protocol is not taken into account, as is SegWit. In short and simpler: the official younger brother of Bitcoin.
Bitcoin Cash is young. Built in 2017 by Amaury Séchet, its capitalization remains significant: the capitalization of the asset is more than $5.6 billion.
From a fundamental and macroeconomic point of view, Bitcoin Cash will always have hegemony over its value in the markets. The token remains expensive, and capitalization is important, which makes it a de facto valuable asset.
In addition to this aspect, one can largely imagine the growth of futures prices after all the assets are produced. We have very few tokens that will allow us to systematically profit from the deficit in the long term.
Unlike other assets, Tether remains a cryptocurrency that is different from others. The reason is simple: initially it was pegged to the dollar. IIt is a stablecoin.
Firstly, because the currency wanted to be stable, unlike others, which remained very volatile. Based on this logic, its founders wanted to link its price to a fixed nominal value. When creating Tether, it was supposed to be a stablecoin equivalent to $ 1.
However, the currency quickly suffered from this aspect, as problems with its management led to the fact that it was trading cheaper than the US dollar.
However, and it should be noted, Tether’s transaction volume is still higher than Bitcoin’s two years ago. Suffice it to say that the cryptocurrency remains a heavyweight in this sector, and has an exceptional market capitalization of $88.2 billion.
Indeed, Tether remains the third largest cryptocurrency capitalization in the world after Bitcoin and Ethereum. Thus, the currency is extremely popular.
But, speculation on USDT is widespread, and Tether remains the ” bad boy” of the crypto industry, with its numerous frauds. But if we recall the fact that 92% of the BTC controls only 4.2% of the addresses, then somehow everything seems to be innocent pranks with USDT at once.
Bitcoin or altcoins?
It’s hard to say, and the reason is simple. Bitcoin remains very expensive today, the token is traded at very high prices, however, its forward price should break all records, and why not spend $1 million on BTC?
However, ordinary people are not whales, nor are they hedge funds, and they do not have such capital. And then what? And then you should turn to staking.
Staking can be a simple solution for obtaining altcoins. How? It’s simple. And you do not need to buy even the above tokens.
An excellent example is the current DecimalChain (DEL). Its cost is only $0.27. The staking of this crypto asset will bring 94.6% of the annual income (APY).
You store tokens that will allow them to confirm transactions. In short, you are participating in the blockchain. In exchange for this service, in other words, by storing tokens in your account, you receive a refund of tokens of the same altcoin. Many exchanges now allow you to place bets through groups or portfolios of digital currencies.
This method remains interesting, but be careful, not all currencies are equal, and some tokens for stacking will be absolutely unprofitable.
In conclusion, I would like to say that although altcoins more or less obey the general rules, they have certain features inherent in the problem that they are trying to solve.
These tokens have two important and interesting aspects for the investor: they are young, but they also deserve trust from banks, insurance companies, websites and large pools, communities that use their technologies.
Altcoins remain available. Yes, it is. Although Bitcoin remains very expensive today, digital currencies remain accessible to everyone.
In any case, cryptocurrencies remain very interesting assets and, above all, can be very profitable in the short term. Moreover, you can act even with small amounts, and do staking, as in the case of DEL.