It does not always have to be Bitcoin: interesting alternative currencies on blockchain technology 2

It does not always have to be Bitcoin: interesting alternative currencies on blockchain technology

Bitcoin cost $ 3,500 at the beginning of the year, but exceeded $ 8,000 in May; Cryptocurrency is, according to many experts and market observers, but just at the beginning. If you want to invest in Bitcoin now, you must still hang relatively low in the bag. But you can also invest your money in other digital currencies – in "Altcoins".

Symbolic image: Pixabay

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Of course, given that the rise in the price of bitcoin also has a positive impact on the entire cryptography market, we can very well invest in smaller and even cheaper digital currencies and hope that they will rise dazzling, just like many of them. Altcoins in 2017 was the case.

Are Altcoins an alternative?

The term altcoin is composed of two alternative words such as coin and means to be an alternative to bitcoin, the mother of all crypto-currencies. Bitcoin, which took the pioneering role and opened the door to an unimaginable financial world, faces challenges that could not have been anticipated in advance. For example, scale issues are slowing down transaction rates, and mining is becoming an increasingly burdensome burden on the environment, and transaction costs continue to rise.

For many people, cryptocurrency is not an investment to invest profitably – they view digital currencies as an alternative to fiat money. That is, the crypto-currencies took the role of the classic currency, so paid on the Internet with Bitcoins or other digital currencies.

This is why there are more and more service providers, such as companies, that accept cryptocurrencies as a means of payment. Finally, it is possible to keep transnational payments free of charge. In the end, only the shipping costs as well as the transaction costs borne by the blockchain network are the responsibility of the customer.

Enough of air

Those who do not want to invest in Bitcoin and look into the cryptography market will find that there are countless alternatives. But at this point, it should be mentioned that to date, there was not a single cryptocurrency, which had experienced such a price increase as Bitcoin – even with market capitalization, Bitcoin is the number one undisputed.

Ripple, the so-called "Bitcoin Bank" could be an alternative. However, it should be mentioned at this point that the ripple so far has never really allowed breakthrough up. The all time record was $ 3.40 and was set in early January 2018 – currently 87% of it is removed. At the end of May, the ripple was around $ 0.42. Market capitalization stands at $ 18.1 billion, making it third in the ranking of the 100 largest cryptocurrency companies.

If you want to buy TRON, do not hesitate. Even if you are far from the record of all time (84%), the cryptocurrency is rising. At the beginning of January 2018, TRON stood at $ 0.23, then the accident followed. At the end of May, cryptocurrency is in the range of $ 0.036. Market Capitalization Rises to $ 2.3 Billion – TRON ranks 10th out of the top 100.

It does not always have to be Bitcoin: interesting alternative currencies on blockchain technology 3

Photo: Pixabay

IOTA is particularly interesting. Probably because it is "the Internet of Things". Anyone looking for an alternative to blockchain technology should therefore invest their money in IOTA. Much remains to be done, far from the absolute record ($ 5.25) (92%); At the end of May, IOTA was $ 0.44. Market Capitalization Rises to $ 1.21 Billion – IOTA ranks 17th among the top 100 companies.

Is Ethereum an Altcoin?

Ethereum, number 2 in the ranking of the 100 best cryptographic currencies, is not a classic Altcoin – strictly speaking, it's not even a currency. Ethereum is a platform, the ether, the "currency", while a token and not a real coin. In addition, Ethereum has not been developed as a means of payment or as a store of value. Ether was created to develop applications like dapp like blockchain projects.