It might be the fact that you like to invest in cryptocurrencies other than Bitcoins Digital. If it is so, then this article will be appropriate for you. Even though Bitcoin can be considered to be the most popular cryptocurrency right now, it is not the only option for investment right now. Although Bitcoin is the most popular, there are other cryptocurrencies also, which have their own unique features that give benefits to you.
- Ethereum (ETH)
It will be feasible to run smart contracts and decentralized apps without any downtime, fraud, or interference with the help of Ethereum. A decentralized list of financial items will be created by this platform that can be accessed by all individuals for free.
In this case, the apps will be running on Ether which happens to be the token meant for the platform. It will help the investors to buy other digital currencies similar to ether. It is the best one for any type of global payment or application procedure.
Being introduced on the market in the year 2015, Ethereum happens to be the second most popular digital currency following Bitcoin. Interestingly, it has a 50% market cap as that of Bitcoin. You can pick a wallet and then go for the transaction process.
- Litecoin (LTC)
It was launched on the market in 2011, and is referred to as “the silver to Bitcoin’s gold”. Litecoin was developed by an MIT graduate and erstwhile Google developer named Charlie Lee. This digital currency is based on a decentralized open-source global payment network, and it makes use of scrypt as a PoW. It will be possible to decode the scrypt with the help of consumer-grade CPUs (central processing units). Despite being identical to Bitcoin in many ways, Litecoin is known to generate blocks at a faster rate, thus enabling quicker transaction confirmation.
- Cardano (ADA)
This digital currency was developed by mathematicians, engineers, and cryptography professionals by making use of a research-based method. The project was co-founded by Charles Hoskinson following his frustration regarding the direction of Ethereum.
The blockchain was created by the team behind Cardano using comprehensive and peer-reviewed research and experimentation. This helps to make it stand out amongst the bigger cryptos right now. It is likewise called the “Ethereum killer” since the blockchain is able to do more. Nevertheless, a lot of development has to be made regarding this cryptocurrency.
- Dogecoin
Dogecoin had been developed using a well-known meme featuring a Shiba Inu pooch as its icon. This meme has become quite well-known right now, and this cryptocurrency is also quite popular at present. The price of Dogecoin has become quite high after receiving support from Elon Musk, the Tesla CEO. He has succeeded in shaking the volatile crypto market by supporting the meme coin. It was initially started as a joke but now, its popularity has increased manifold.
- Ripple (XRP)
It is a fact that it has become more effective to make cross-border transactions with the help of Ripple. This cryptocurrency helps to reduce the exchange rates of currencies by working with different financial institutions, and it likewise offers real-time rates of exchange.
Before the introduction of Ripple, financial institutions had to depend on intermediaries for making cross-border transactions. However, apart from being quite costly, these were also quite time-consuming. Fortunately, Ripple has helped to improve the operations of cross-border transactions to a great extent. It is more about the enterprise-based solutions that companies look forward to in this case.
- Solana
This digital currency has turned out to be a competitor to Ethereum with lots of projects associated with Web3 and Defi developing on the platform. It can be considered to be a more inexpensive and faster alternative to Ethereum while providing smart contracts plus other essential features as well. Solana has also become quite popular because of its usage in various projects such as NFTs online.
- IOTA
This one happens to be the go-to digital currency for any business that wants to make use of blockchain technology with IoT gadgets. It is simple to comprehend the benefits provided by IOTA by observing the enhanced usage of IoT devices.
If you like to trade any digital currency along with Bitcoin, it will be sensible to make use of the Bitcoin Era which happens to be a well-known app right now.