Bitcoin’s popularity is phenomenal. From ordinary folks working a 9-5 job to corporate individuals who have businesses of their own, it’s on their mind when thinking about a new investment platform. It all started in 2009, and just 10 years after that, the cryptocurrency is now worth billions of dollars in market cap. Such remarkable market growth is unprecedented. Along with its success, many investors have become millionaires and the events that followed thereafter marked the revolution in the financial industry.
Thousands more cryptocurrencies were introduced to the public as developers saw the opportunity to provide alternative options among investors and traders. Those coins that have recently emerged may be better than Bitcoin in certain aspects. But that’s not to say they can replace the pioneer crypto. It’s only important that you know what other cryptocurrencies are making rounds due to their unique features and advantages. This will expand your choices and spread your assets across promising investment vehicles.
As a crypto investor, not limiting your investment to one platform alone might prove more advantageous in the long run. Bitcoin Up is one of the best options when it comes to a secure trading platform.
Have you ever heard of this cryptocurrency? If you’ve been doing business in the crypto market for some time, this might have appeared in your prospects already. It is considered the prime alternative to Bitcoin with a decentralised software platform. This network enables smart contracts and decentralised applications to be built and run without any downtime, control, fraud, and interference from a third party. The primary goal of this platform is to create a decentralised suite of financial products that any player in the world can freely access, regardless of nationality and other factors.
Tagged as the silver to Bitcoin’s gold, Litecoin is one of the first cryptocurrencies that followed the footsteps of Bitcoin. It is based on an open-source global payment network that is not controlled by any central authority and uses the script as proof of work. This can be decoded with the aid of consumer-grade CPUs, so that makes things simpler for some users. Although Litecoin is like Bitcoin in many ways, this new platform has a faster block generation rate and a quicker transaction confirmation time.
It’s a unique proof-of-stake cryptocurrency aiming to provide interoperability among other blockchain platforms. Polkadot has a protocol designed to connect permissioned and non-permissioned blockchains, as well as oracles, to allow different systems to function together under one roof. The core component of this cryptocurrency is the relay chain allowing the interoperability of various networks. Users can make transactions in parallel blockchains with their own native tokens for specific-use cases.
Unlike its counterparts, this cryptocurrency is known for having an ouroboros proof-of-stake that’s created with a research-based approach. Engineers, mathematicians, and cryptography experts that once helped build Ethereum are the brain behind this project. But eventually, they have designed Cardano to pursue their own goals. Developers of this crypto aim to be the world’s financial operating system by establishing decentralised financial products like Ethereum. They are also eyeing to provide solutions for chain interoperability, legal contract tracing, and voter fraud.
Another open blockchain network designed to facilitate enterprise solutions by coordinating financial institutions for the purpose of large transactions is Stellar. The huge volume of transactions between banks and investment firms would normally take several days involving intermediaries, which entails some fees. Using Stellar, you can now experience efficient transactions with no intermediaries and cost little to nothing for doing such a business.
If you are looking for a popular utility cryptocurrency, this one is the best option. Binance Coin operates as a payment method for the fees associated with trading on the Binance Exchange. It is now hailed as the third-largest crypto by market capitalisation. Using this token allows you to enjoy discounts from the exchange payment. Binance Coin’s blockchain is operating on the same platform as Binance’s decentralised exchange.
So, Have You Decided Yet?
More cryptocurrencies are coming out in the market, introducing better features than Bitcoin. You might explore your choices when you want to diversify your assets. Each one may offer unique advantages, but make sure it guarantees stability. This investment is profitable when you are making the right choices. It’s not just about Bitcoin – remember that. There’s more to come in the coming years as the industry keeps expanding. Essentially, the more choices you have, the better.
Bitcoin is the pioneer and the dominant cryptocurrency today. But it does not mean that other cryptos are not equally important and profitable. What you may not know is that investing in multiple projects can benefit your portfolio. It’s the diversification of your assets that might keep your overall investment secure. Invest wisely!