What are Cryptocurrencies Bitcoin (BTC) Alternatives
We have heard a lot about Bitcoin. Everyone knows about the cryptocurrency these days, thanks to Bitcoin which took a leap from $600 per coin in august 2016 to $4700 per coin in August 2017.
It gave 6 times return on investment within a year that investors from all over the world started paying attention to crypto currency.
What is crypto currency?
Crypto currency is a digital form of currency which can be used to do online transfers or purchases and few rare offline purchases.
Bitcoin is the most noteworthy crypto currency, but it is not the only digital currency.
There are many other BTC alternatives floating around the world which could be a great alternative to bitcoin and provide good returns on your investments.
Here we have mentioned few options, check out the details below:
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Ethereum:
The first alternative to bitcoin is Ethereum, it is a decentralized software platform that enables Smart Contracts and Decentralized Applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party.
The main aim behind etherum is to build a decentralized suite of financial products with free access to people all over the world.
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Litecoin:
Litecoin was launched in 2011, it is among the first crypto currency to work as bitcoin and it is also referred as silver to bitcoin’s gold. The litecoin was created by Charlie Lee who is a MIT graduate and worked in Google as an engineer.
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Cardano:
It is an “Ouroboros proof-of-stake” cryptocurrency that was created based on research approach by engineers, mathematicians and experts of cryptography.
Cardano’s co-founder Charles Hoskinson was one of the five primary founders of Ethereum.
Later having some disagreements he departed from etereum and helped to create Cardano. As of January 2021 it has a market cap of $9.8 billion.
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Stellar:
This is quite popular and genuinely it can be the best alternative to BTC. Its blockchain is valued for good reasons. Transactions are validated and settled fast and it also includes usage of smart contacts.
Other alternatives include BNB, Ripple, NEO, CARDANO, STELLAR, IOTA, NEM, TRON, VECHAIN and more.
These are few options that may replace BTC. Crypto currecy market is flexible, so anything can be possible.
You just need to be familiar with these alternatives, so that you can take the chance on right time and get good return on your investment.