5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018
5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018: Bitcoin is the latest talk of the town due to its soaring value. You must have heard a thing or two about Bitcoin in the recent news. People who have invested in Bitcoin are now playing in dollars and who haven’t are regretting why they haven’t. And Why Not? The value of the Bitcoin has soared from $1,000 to nearly $20,000. And, it is skyrocketing or plummeting every day.
By seeing the latest stats of Bitcoin, you must have thought once to invest in Bitcoin. However, if you feel you are too late to invest in Bitcoin, don’t get upset! I would be sharing 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018.
What is Cryptocurrency?
Cryptocurrency is derived from two words Crypto + Currency. Crypto means encrypt using coding and Currency refers to money. In short, Cryptocurrency is a digital form of money (a virtual asset) that uses encryption to secure transactions. Cryptocurrencies existence lies in the ether, a digital code, rather than metal coins or paper bills. This technology is known as blockchain. It keeps the record of all transactions without an authority like a central bank.
Bitcoin (A Peer-to-Peer Electronic Cash System) is the first decentralized Cryptocurrency. It was launched by Satoshi Nakamoto in January, 2009. The identity of Nakamoto is unknown. Some say it is a pseudonym referring to a person or a group.
How To Earn CryptoCurrency?
You can earn Cryptocurrency by two ways:-
1. By buying it: You can buy Cryptocurrency by two ways.
- You can directly buy Cryptocurrency from the owner.
- You can also buy it through some websites or apps.
2. By Mining it: Yes, you heard it right! You can mine a Cryptocurrency. It is called Proof-of-work scheme. It involves solving complex equations using your computer’s resources. This process helps in confirming a transaction in a Cryptocurrency-network. In return, you will be rewarded with a token of Cryptocurrency in your account. Miner’s activity is the single most important part of Cryptocurrency-system
This was a brief introduction to Cryptocurrency. Now, before going through 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018, let’s see if is it worth to invest on Cryptocurrencies in 2018?
Is it worth to invest on Cryptocurrencies in 2018?
Here comes the million dollar question – Is it worth to invest on Cryptocurrencies in 2018?
Answer: Investment is like playing a Lottery! You do not know what you will get and when. It’s pure luck unless you are a smart statistician. Same goes for Cryptocurrency too as what a renowned statistician says, “Cryptocurrency is a volatile, unpredictable investment, falls into that category” who further explains this as below.
Price of these cryptocurrencies often swings from one extreme to another. And when the value of something skyrockets too quickly, a bubble often follows. So, you should not get carried away with this bubble. Invest your hard money very carefully. Start small, analyze and then increase/decrease your investment.
If you want to invest on Cryptocurrencies and feel the price of Bitcoin is too high, then you can try the following 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018.
5 Best Bitcoin Alternatives – Top Cryptocurrencies to Invest in 2018:
Below is the list of 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018. I have divided this list into two parts – First three Best Bitcoin Alternatives and then rest two for better segmentation and categorization.
3 Best Bitcoin Alternatives | 3 Top Cryptocurrencies To Invest in 2018:
1. Ethereum: Ethereum, released in 2015 is the second largest Cryptocurrency network with a market capitalization of over $100 billion versus bitcoin’s $281 billion. Ethereum, often referred as Ether, functions similarly to Bitcoin, but with an added focus on smart contracts (agreements enforced by code rather than the law). Ether lets you write your own contracts.
Although it uses the same blockchain technology, it can process transactions much faster than Bitcoin but it’s their overall function that differs the most. Bitcoin is a store of value, Ethereum is a platform that allows P2P contracts and applications.
2. Ripple: Ripple is one of the largest Cryptocurrency with a market capitalization of over $87 billion. It has garnered a huge user-base since its release in 2012. It stands second on the list of 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018.
Ripple is a real-time gross settlement system and exchange network, especially for banks, colleges, and other financial organizations. It is more secure than bitcoin and offers great liquidity.
3. Litecoin: Charlie Lee, a former Google employee, developed Litecoin and released it on October 13, 2011. It has a present market capitalization of over $20 billion. It is the first Cryptocurrency network to adopt Segregated Witness.
It’s functioning is somewhat similar to Bitcoin but has transaction speed four times faster than Bitcoin. This makes it the most suitable option for long-time investment.
Further Bitcoin Alternatives:
4. IOTA: IOTA is controlled by the non-profit organization, IOTA Foundation. It was founded in June, 2016 focused on providing secure communications and payments between machines on the Internet of Things (IoT). It has now a market capitalization of around $10 billion. IOTA stands fourth on the list of 5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018.
This cryptocurrency is a bit different to Bitcoin. It works on Tangle rather than blockchain. Tangle is completely distinct ledger from the blockchain that allows for zero transaction fees and infinite scalability.
5. Dash: Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency. Dash’s decentralized governance and budgeting system makes it a decentralized autonomous organization (DAO). Dash is the short form of ‘Digital Cash‘.
It is more user-friendly than Bitcoin and is easier to use. It has a total market capitalization of around $5 Billion with over $100 million trade per day.
That’s it for now, friends! I hope you like this article “5 Best Bitcoin Alternatives – Top Cryptocurrencies To Invest in 2018”. If you want detailed information on these Cryptocurrencies, feel free to ask me by commenting below. I will try to get back to you as soon as possible. Do not forget to share this article with your friends on Facebook, Twitter, Google Plus or any other social profiles. To get our updates via email, Subscribe to our Newsletter. Till then, Ciao! See you next time with another interesting article.