Bitcoin is by far one of the most well recognized cryptocurrencies but it isn’t for everyone. With that in mind, there are alternatives that you can choose from. But not as many of them are known to the average person. Today we are going to cover 10 of the best Bitcoin alternatives.
Litecoin is one of the most well-known alternative cryptocurrencies out there. Litecoin has trends of going up and down, but holding onto it will almost always result in finding an uptime to sell. There are over 20,000 transactions a month with some months reaching all the way up to 40,000. Many crypto marketplaces support Litecoin and there is a constant stream of development. But there is still much for the developer, Charlie Lee, to do. Such as improve the payment system.
When it comes to known names of cryptocurrencies, Ethereum is right up there with Litecoin and Bitcoin. Ethereum has a large development behind it. The software and team are some of the best out there. That being said, it is still a decentralized organization still. But the blockchain software behind Ethereum is being used by companies around the world.
Stellar is an interesting newer contender to the cryptocurrency world. Among its competitors, Stellar is extremely fast. Transactions are handled in a handful of seconds or less. It may feel like nothing either way, but it can make the whole process easier. A number of companies such as IBM have locked in great contracts with Stellar. Stellar is still small, it has to show that it has the ability to grow to the size of Bitcoin before it will be a serious threat to Bitcoin.
Another alternative to Bitcoin is Monero. Unlike the other companies on the list, Monero has a giant focus on privacy. While all cryptocurrencies have an inherent layer of anonymity, Monero hides the information of buyers and sellers as much as possible. Something that isn’t quite possible on most cryptocurrencies, including Bitcoin.
DASH is an interesting cryptocurrency that isn’t designed as an investment platform. From the beginning DASH was designed with the idea that you would be able to buy products or services with your cryptocurrency. DASH is supposed to be faster and cheaper than Bitcoin but at the same time, it has yet to catch on in a major way that would make it practical to use. However, this is changing with all cryptocurrencies.
Bitcoin Cash is a spinoff of Bitcoin. A dispute in 2017 over how to handle the Bitcoin upscaling led to a separate cryptocurrency being built, Bitcoin Cash. The difference with Bitcoin Cash is that it is meant to be a way to bring electronic cash to all of the countries in the world. Bitcoin Cash has managed to catch a fair amount of traction compared to other altcoins.
ZCash is another altcoin that has taken the route of trying to add additional security. ZCash uses the standard idea of blockchain to record all transaction data but not all of the data is readily available to other users. People can’t access the information of who sent or received the cryptocurrency or the amount that was sent. That is all kept between those who are part of the transaction.
Another unique cryptocurrency website is Ripple. Many of the other altcoins were designed to be separate from the financial industry but Ripple was designed to work with it. An easier way to facilitate online payments. Ripple’s XRP currency makes it easy to transfer money around the world.
NEO is a company that is designed to make cryptocurrencies a new type of payment method. A smart payment method. Their platform is meant to be more secure than a standard cryptocurrency website and to be easy to use at the same time. NEO also supports smart contracts.
EOS is designed to be similar to Etherium and was made by famous cryptocurrency engineer dan Larimer. EOS is capable of being deployed for decentralized applications but it is also has a separate system that it runs on EOS.IO. Further, there is a set number of cryptocoins out there and they are already available, there is no mining.
As you can see there are plenty of other cryptocurrencies out there. Many of them are just as well known as Bitcoin but even those are still considered to be emerging. As you can see, many of them have taken unique routes into the cryptocurrency world, so we suggest taking a look at all of them before deciding on one.