Top 3 Alternatives to Bitcoin
In the past decade or so, cryptocurrency has completely revolutionized the way we look at the financial industry. The amount of people becoming more and more interested in cryptocurrency is constantly increasing, with surveys currently showing that 17% of the American adult population has made investments in bitcoin.
That number is constantly rising as well and is expected to rise even higher, as it has been shown that younger people, like millennials or people of the Gen Z generation, are far more likely to invest in cryptocurrency than any other stock.
Bitcoin is the uncontested champion when it comes to cryptocurrency. The oldest crypto is also the most popular, most valuable, and most profitable, which ensures its place at the top of the heap.
And yet, many other cryptocurrencies have popped up in recent years to compete with Bitcoin, and while none of them have reached the value of the first cryptocurrency, many have proven very efficient and viable investments. In this article, we will look over a few of the best of the best cryptocurrencies aside from Bitcoin.
Ethereum is the 2nd most popular cryptocurrency on the current market, and the 2nd most profitable, being valued at close to $3000.
Ethereum was conceived in 2013 and was then crowdfunded, to be launched officially in 2015. Vitalik Buterin, the creator of Ethereum, came up with the name while browsing a list of science fiction books on Wikipedia.
Ethereum is a very popular cryptocurrency on the best automated trading platforms, due to its high profitability, and predicted rise in value. While Ethereum’s currently is priced at two thousand dollars, analysts are predicting a positive change in Ethereum’s prices in the future, with some expecting the value to rise to ten thousand dollars by next decade.
Overall, the future seems bright for Ethereum, and it is likely that it will remain among the top cryptocurrencies in the coming future.
Litecoin is one of the oldest cryptocurrencies. The cryptocurrency was founded ten years ago in 2011 by a man called Charlie Lee. At the time of its founding, Litecoin was hugely successful, and tough competition for Bitcoin.
Of course, Bitcoin has since surpassed Litecoin, both in value, and popularity, but even so, Litecoin remains a popular choice for many online investors.
Litecoin’s current price sits at $114, with prospects to rise considerably in the future. Analysts have predicted that by the end of 2021, the price of Litecoin will surpass two hundred dollars, with a potential high of $250.
The price will continue to rise through the following years, reaching $1000 in 2025, the highest price in Litecoin’s history.
A good alternative to Bitcoin is also the many stablecoins popular on the crypto market. The volatility of cryptocurrency is a well-known fact and one of the main reservations that most people have regarding cryptocurrency.
This problem is resolved with stablecoins, which provide all the perks and advantages which cryptocurrency offers, and also has a stable rate that most associate with fiat money.
The volatility of stablecoins is reduced in a number of ways, most popular among which is the backing of stablecoins with a stable asset, such as the US dollar, British pound, the Euro, etc.
The most popular stablecoin, ranked 3rd on the current crypto market, is Tether. Tether is controlled by a company named Tether Limited, and the way they keep Tether’s stability is by putting one dollar in reserve for every Tether token sold. The value of Tether is currently estimated at $1, with prospects for that price to go up to $1.2 in the coming years.
While the most popular stablecoin, Tether is not the only one. There are many stablecoins on the current crypto market to choose from, so look through the best-of-the-best, and discover the one that most appeals to you before you begin your journey into the technological world of crypto investing.