Cryptocurrencies Beyond Bitcoin

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When the majority of the world’s population hears about cryptocurrencies, they think of Bitcoin. However, it’s far from being the only cryptocurrency on the planet. Since Bitcoin appeared in 2009, more than 4,400 cryptocurrencies emerged. Not all of them are popular, but all are valid.

The cryptocurrency market is highly volatile and completely unpredictable. Only a few such currencies deserve your attention. If you think it’s a bit too late to profit from Bitcoin, which may very well be true, the rest of the currencies still have a substantial potential.

However, experts from https://ibagroup.io/ believe that Bitcoin is the leader in its niche and the rest of the cryptocurrencies will just follow its suit. Meaning, if it falls, they fall as well. If it goes up in price, so will they.

The most popular and stable alternatives to Bitcoin are Ethereum and Litecoin. Let’s take a look at them and a little beyond.

1. Ethereum is very similar to Bitcoin. It takes advantage of blockchain to track the value and its owners from all over the world. Even though Ethereum appeared six years after the Bitcoin launch, it’s considered the most successful cryptocurrency after Bitcoin.

2. Litecoin is a little older than Ethereum. It appeared in 2011. It also works almost identically to bitcoin and is considered to be one of the most stable cryptocurrencies in the world.

3. DASH was initially called XCoin. It came around in 2014 and grew more than 1000 percent. It has one of the largest market caps, which makes it appealing to those who worry about the 21 billion coin cap on Bitcoin

4. NEO is a Chinese cryptocurrency, which is based on Ethereum. In August 2017, the currency grew by 300%, which made it highly attractive to the investors at the time. It’s also appreciated for its ability to capitalize on Chinese technological advances.

5. NEM is another currency, which is very similar to Bitcoin. It focuses on helping businesses improve payment and logistics. The biggest difference between NEM and Bitcoin is NEM’s goal to make blockchain highly customizable.

6. OmiseGO is based on Ethereum focuses on Asian countries, including Thailand, Japan, and Singapore. The cryptocurrency is planning to gain popularity in the rest of the world in the nearest future.

7. Lisk appeared in 2016 and focused on a Java-based blockchain platform, which supports virtually anything the user wants to create.

While all of the above options seem to be promising right now, the highly volatile world of cryptocurrencies can change in a flash. When searching for the suitable cryptocurrency, you may want to consider the following parameters.

  • Trading volume – what is the demand for the cryptocurrency?
  • Market capitalization – small market capitalization allows more people to manipulate the price.

It doesn’t take too much effort to create a new cryptocurrency, which you can see from their overwhelming number. So before exchanging your hard-earned dollars for a digital currency, check twice. The cryptocurrency market is overflowing with fraudulent offers.

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