Humans evolve at a rapid rate. If we examine it closely, then we’ll recognize that our internal evolution is directly proportional to our external evolution.
We seek change after a spell in practically every aspect and cryptocurrencies are the epitome of the change in one of those aspects. Once, we only knew about Bitcoin, now we have evolved to a stage where we’re talking over cryptocurrencies other than Bitcoin.
Bitcoin had been more of a synonym for cryptocurrency than being one of its kind. Nonetheless, the approach has evolved, now we are conscious of the existence of several cryptocurrencies, and we are all captivated to understand them. So, let’s find out the alternatives to Bitcoin.
10 most popular alternatives to bitcoin
Ethereum (ETH)
Ethereum is our first alternative to Bitcoin and one of the prevalent cryptocurrencies. In the crypto league, Ethereum ranks second in terms of market cap. Since Ethereum’s launch in 2014, it quickly attained a position in people’s crypto portfolios.
Ethereum operates on a decentralized platform that is assigned for people to build decentralized apps and smart contracts without the intervention of third parties, and with zero threat of fraud. Also, Ethereum doesn’t have any coin limit, unlike bitcoin which has a limit of 21 million.
Tether (USDT)
Tether coins are digital tokens that are created on several blockchain platforms. Regardless of the whole bullish perception of cryptocurrencies, Tether coins are perceived as stablecoins, because the market value of Tether is connected to the US dollar.
Tether which was launched in 2014 offers a flat ecosystem to traders, has minimal price fluctuation, and simply approves of conversion to traditional currencies.
Dogecoin (DOGE)
Ever come across something that commenced as a joke and ultimately proved to be something prominent for the entire world? Well, Dogecoin is just that. Dogecoin was created in 2013 by its two founders with the essence of triviality, but who knew that in 2021 it’ll attain a market cap of around $19 Billion?
Dogecoin is one of the most widespread cryptocurrencies. Popular tech giants are accepting Dogecoin as the mode of payment, the perfect case where people take a joke too seriously, right?
Binance coin (BNB)
Binance coin is created by Binance which is one of the most popular cryptocurrency exchanges in the world. The objective behind starting the Binance coin was to drive users on their platform by offering them discounts for using the Binance coin at an early stage.
However, who comprehended that it would turn out to be the third largest cryptocurrency in the world by market cap?
Apart from trading and investing in Binance coin, you can use it to make payments for visa cards, and also earn interest for buying and holding the coin over time.
Litecoin (LTC)
Litecoin as the name portrays the lighter nature of the coin, which gives it a higher processing ability to carry out faster transactions. It was created by a former google employee in 2011, no doubt why it’s lite and faster.
Litecoin is a reliable alternative to Bitcoin, as it works on open-source blockchain technology. On the ground level, it is also accepted by several merchants as the mode of payment.
Cardano (ADA)
Mining cryptocurrencies contribute to the increase in pollution. Cardano on the other hand is declared to be environment friendly. Who believed that someday we’ll be tagging digital currencies as environmentally friendly?
Cardano offers a supple ecosystem and quicker transactions, which makes it a reliable alternative to Bitcoin. The team backing Cardano has spent long hours of research and experimentation to bring Cardano to life. Cardano is also anticipated to be topping the crypto charts soon.
Polkadot (DOT)
Polkadot is as fascinating as its name, it is a fresh creation that was launched in May 2020. However, we can perceive Polkadot as a reliable alternative to Bitcoin, due to its pledging blockchain technology.
Polkadot offers a collaborative platform for crypto traders, it unites blockchain technology from various cryptocurrencies and permits traders to operate them. Since its launch, veteran traders are stating Polkadot to be one of the prominent cryptocurrencies.
Stellar (XLM)
Stellar is one of the vastly popular cryptocurrencies in the world. It is utilized to carry out large transactions instantly between banks and investment firms. Despite such confidential processes, it is an open-source blockchain technology that is accessible to everyone.
It provides the amenity to trade all forms of currencies in the digital medium. The significant technology of Stellar makes it possible for massive financial networks to work on its platform.
Monero (XMR)
Monero is considered a favorably secure and organized digital currency, which makes it a promising alternative to Bitcoin. It is operated by donations solely from its community, and it focuses on the privacy and security of its users.
A thing called ring signatures is used by Monero to upgrade the level of privacy, by the use of ring signatures the transaction can’t be tracked and a stealth address is created, which is unique and has several filters about a transaction, which makes it next to impossible to trace a transaction.
Shiba Inu (SHIB)
Shiba Inu is named after a Japanese hunting dog. When it comes to digital currencies, people are driven toward a name that sounds promising, but Shiba Inu does the opposite right? However, the SHIB hit an all-time high in 2021, redefining the crypto markets.
It is considered a Meme coin but investors are seriously optimistic about Shiba Inu’s future. Memes are a part of social media, but who thought they would gain a prominent place in financial markets too?
Wrapping up
Bitcoin is the largest cryptocurrency in the world by market cap. But now you know cryptocurrencies other than Bitcoin that might overtake Bitcoin in the future.
Cryptocurrencies are here to stay. So, consider cryptocurrencies as your investment option. Needless to say, before investing in any digital currency do your analysis, study the fundamentals, and then decide to invest In the currency that aligns with your requirements.
Shortly, we might experience the creation of more cryptocurrencies and that’s just a process of evolution. Just align yourself with the process of evolution.
So, this was our post on cryptocurrencies other than Bitcoin. We hope you found this post informative and helpful.
