Bitcoin is a cryptocurrency invented by Satoshi Nakamoto. With Bitcoin, it is possible to send and receive money without the need for a third-party intermediary like a bank. You can send money directly to another Bitcoin registered user and vice versa. Plus, every single transaction is recorded publically in the form of a Blockchain. This is what made Bitcoin so popular. However, since it’s a rise in December 2018, it’s value has been declining gradually and more and more investors are looking for new investment opportunities. This post is intended to make you aware of other cryptocurrencies that are worth investing in.
Here are 3 alternatives to Bitcoin(also known as Altcoins). The value of the following cryptocurrencies is estimated to rise in the upcoming years.
Litecoin was released in the year 2011 by Charlie Lee. The driving force behind the creation of Litecoin was to have a better and faster version of Bitcoin, This is the reason some people also call it a lighter version of Bitcoin. This is how Litecoin is better than Bitcoin: Litecoin introduced a whole different mining methodology. Instead of using older ASICS (application-specific integrated circuit) for verification of Blockchain transactions, Charlie Lee used newer GPUs (graphics processing units) which was miles faster than its predecessor.
When it comes to investment, today you can buy one Litecoin for $56.14. After the rise in its value in 2017 and 2018, now it is picking up again and promising to reach new heights. I believe investing in Litecoin is far better than doing so in Bitcoin. Compared to Bitcoin, Litecoins relative increase in value is far greater. It is one of the best alternatives to Bitcoin.
Despite being used to run Ponzi schemes by criminals, Ethereum is still in demand and is a great alternative to Bitcoin. It’s stability and potential are what makes Ethereum stand out from the rest. Since last year, the value of Ethereum is stable and has reached its highest($310.28) in October(2019). Being said that, I would not recommend you invest more than you can afford to lose. This is true with all cryptocurrencies. Moreover, as an investor, it is also important to be optimistic about Ethereum and you can only do that by learning and researching more about how Ethereum works.
Is performing safe private transactions a necessity for you? Do you fear your competitors, neighbors, or worse, the government will interfere in your business and try to sabotage it?
Monero is an alternative to Bitcoin that will allow you to make fast, private and safe transactions. Moreover, Monero is a decentralized currency with a team of 30 software developers working hard to make it better every day. When it comes to investment, since it’s value dropped from $57.62 to $55.32 in late 2017, Monero has been rising again in the year 2019. Out of the three cryptocurrencies mentioned in this post, Monero is the most stable and safe to invest in.
These are the three Bitcoin alternatives I have found to be the best. From an investment perspective, you should only focus on making more money. There is a reason Bitcoin got so popular in the year 2017. There is always a likelihood of an exponential rise in the above-mentioned cryptocurrencies value. This is the reason they are thriving in the year 2019 and will continue to do so in the coming years.