Whilst Bitcoin is still one of the most popular cryptocurrency’s in the world, it has also faced its fair share of high profile criticism.
Knowing which cryptocurrency to invest in can be difficult, so if you don’t want to invest in Bitcoin, here are some of the best alternatives.
Ethereum had an impressive 2017. At the beginning of last year, its worth was just single digits, but fast-forward to the end of the year and it was worth more than $1,200. In early 2018, Ethereum was doing more than four times the number of Bitcoin transactions per day, at a much quicker pace, and at a lower price.
The reason that Ethereum is a great alternative, because it has fixed a number of problems that Bitcoin had, such as lower fees. As well as this, it incorporates features like smart contracts, making it the preferred currency these days.
Litecoin is a brilliant choice if you are planning on making regular transactions. It is incredibly fast, and has low transaction fees. More and more developers and merchants are beginning to accept Litecoin as well.
It is a new coin, and whilst it does not have the same potential as Ethereum when it comes to building new transaction platforms; but it is an established virtual currency, and is featured in the top ten cryptocurrencies by market capital.
Ripple has a lot of potential, along with a lot of industry support. The value of the virtual currency spiked in 2017, going from $0.20 to more than $2.50 in just a couple of months.
If you are looking to make money from your investment, Ripple is a brilliant option. It has a lot of support from major banking organisations, including Santander, RBC and American Express.
Again, Digital Cash had a really great year last year, with the token rising from $10 to more than $1,200 at the end of the year. Because of this huge price rise, it has secured its place in the top 20 cryptocurrencies.
Dash officially launched in 2014, and quickly gained popularity. A lot of this was because of the fact Dash highlighted the importance of owner privacy, through the ‘PrivateSend’ function.
If you compare it to Bitcoin, it is also much quicker and cheaper to do transactions. They also have an ‘InstantSend’ feature, transactions can be made instantly.
Monero has grown considerably in value in just over a year, and is proving to be a great alternative to Bitcoin. It is based on a different has algorithm, which means that it has greater privacy for owners.
The privacy is kept by hiding certain elements of a transaction, and the amount being transmitted. Not only this, but it can also be used to make direct purchases.
ZCash is another great alternative to Bitcoin. Like the others, the past year has seen a huge rise in value.
It is new currency, being founded in October 2016, but has shown an impressive amount of growth in this short amount of time. It has similarities to Ripple, which is great for those who are looking to make money from their investors.
Transactions with ZCash, are much faster and cheaper than Bitcoin.
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