The digital currency market has been expanding over the years. Though Bitcoin remains the topmost digital asset in the crypto market, several other cryptocurrencies are gradually coming up. Besides being a trendsetter, Bitcoin has fueled stiff competition in the crypto market due to its popularity worldwide.
In terms of popularity, market capitalization, and user base, Bitcoin has sustained an inspiring trend since it was launched a decade ago. Be that as it may, are there other vital competitors that can rival Bitcoin? We give you an insight into the best Bitcoin alternatives. Read more about bitcoin selling and buying in bitcoin equaliser platform.
Ethereum Commands a considerable market segment in the crypto industry. Open-source software has gained popularity in facilitating the building of decentralized applications and smart contracts. As such, it remains one of the most sought open-source software by developers around the World.
Additionally, the advent of Ether has attracted many investors who use it for purchasing other digital currencies. This has seen the market capitalization of ethereum shoot up at an alarming rate. The advanced safety features associated with Ethereum has made it appealing for use in safeguarding bank accounts, insurance, loan processing and other financial sectors.
Launched in 2015, Ether enjoys the second largest market capitalization after Bitcoin. Though lagging behind in dominance, ethers market size has hit 19% of Bitcoins overall market cap. So far ethereum enjoys a token value of $1218.59 and an average market size of $
Litecoin resembles Bitcoin in many ways. In fact, it has emulated Bitcoin. Comparatively, it has a fast rate in block generation hence confirms transactions faster. Besides developers leveraging the Litecoin platform to develop smart technologies, many merchants are gradually accepting it as a mode of payment.
As of 2021, Litecoin market capitalization hit $10.1 billion, which saw the token value reach $153.88.This makes Litecoin the sixth-largest digital currency in the World.
Bitcoin Cash (BCH)
Bitcoin cash has a rich history in the altcoins market since its one of the oldest versions of Bitcoin. The concept behind the introduction of BCH into the market was to improve speed and facilitate more transactions. This saw the removal of segregated witness protocol which affects block space. BCH’s popularity has seen market capitalization cross the $8.9 billion mark and the value of token reach $ 513.45 in 2021.
Binance coin (BNB)
Generally, Binance coin functions as a mode of payment. People who use BNB tokens as a mode of payment as an exchange can trade at some discount. Binance coin initially operated on the ethereum blockchain. The digital currency later launched its platform under which it operates. By 2021, Binance had amassed a market share of $ 6.8 billion and a token valued at $44.26.
Tether was once one of the most popular stablecoins. As the cryptocurrency value remains highly volatile, tether b and other stable coins tend to ease the price volatility by giving some cautious clients an alternative.
Furthermore, the stability of tether over time has seen its price tied to the dollar. The system enables users to transfer digital currencies to other cryptocurrencies easily and back to US dollars more conveniently. By 2021, tether had improved in market capitalization, reaching a record $24.4 billion.
The World of cryptocurrency has attracted many investors around the World. This has resulted in a surge in the number of crypto users big time. With the price of Bitcoin being out of reach, digital currencies highlighted in this article are the best alternative that you can try out.
Besides scalability, the new digital currencies already command a considerable market segment making them attractive for investment.
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