Finances

Who Are The Biggest Challengers to Bitcoin’s Cryptocurrency Throne?

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Written by Quentin Hack

Since it is the most valuable cryptocurrency on the market since the introduction of the blockchain system, it is not a surprise that most people are interested in investing in Bitcoin. It had many ups and downs related to the price from the moment when it became available. However, it remains an absolute leader in the market. The current price is near $60,000.

That is ten times higher value than at the same time last year. One of the features that make it so popular for investors is high volatility. You can make a great profit by determining the right moment to buy BTC. The same is with many other digital currencies. There are many other benefits as well, like security, anonymity, the fact that this market is decentralized, and it represents great protection from economic crisis and inflation.

Also, it represents a convenient payment processing tool, where you can instantly transfer the funds without any third party involved in the process. Moreover, online stores, services, and betting sites are also integrating this system. If you are interested in an online casino where you can deposit funds with an e-wallet, check ReelEmperor.

On the other side, people interested in investing are looking for other options as well. Even though Bitcoin is the most valuable option today, things can easily change in the future. In that matter, investing in some options that have a great potential to grow over time could ensure you with great profit. Here are the Bitcoin alternatives with the potential to outgrow it.

Litecoin

One of the main reasons why this platform has great potential is because it shares many features with the blockchain system of BTC. It is also decentralized and has a special system for transaction approvals. The interesting fact is that this option has some features even better than Bitcoin, such as the hash rate and transaction processing. The price of it is growing constantly, and the current price is around $340, while the value only one year ago was under $50. According to some experts, the price might reach a value of over $10,000 in the next few years.

Polkadot

The unique feature of this option is that it can create compatible relations between different blockchain systems. Therefore, it can gather resources from the whole network, while it is using a particular token that has its own value. The current price is around $40, while experts are predicting that it will reach at least three times more than that value in the next few years.

Stellar

The key ability of this platform is targeted to large transactions made between companies and financial instances. The main advantage is that these transactions could be processed instantly, while you will have to wait for a couple of days when you are making a transaction over a bank. The fees are much lower as well. The main reason why people are interested in investing in this option is a low price of only $0.6, and the predictions are saying that it might grow to over $3 in a couple of years.

Binance Coin

This token is quite different from other options in this list. The online exchange platform Binance has introduced it as a way to attract more people to trade with their services. The main advantage is that you will pay much lower fees when you use it for standard transactions since you can convert other cryptocurrencies into it. Since this trading platform and exchange represents one of the most popular options today, many people think that this token has great potential.

Monero

If you are interested in affordable coins with excellent potential, we suggest you read more about Monero. The current value is $460, but some studies are showing that it might grow to over $5,000. When it comes to safety and privacy, this is the best option since the developers were dedicated to creating an advanced system where anonymity and safety are guaranteed.

Ethereum

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This token represents the second most popular and valuable cryptocurrency today. The main advantage that introduced a revolution to the world of digital transactions is called Smart Contracts. With this feature, companies could create legal documents, agreements, invoices, and other papers in digital format, without the need for approval from third parties. Also, it runs a unique blockchain that allows other tokens to share its resources. The current price is $3,800, and the predictions are saying that it might grow to over $70,000 in the next few years.

Cardano

This token is using blockchain similar to Ethereum, but with some advanced measures that make it an even safer solution. Also, it can be integrated into security systems, voting machines, legal documents in digital format, and more. The price is only $1.6, which is excellent for those who prefer investing in a variety of solutions to improve their chances for profit over time.

Tether

This coin is using a different model and structure that is known as stablecoin. While other cryptocurrencies are decentralized and various factors are affecting their frequent changes in value, this one is connected to Dollar, which represents its cover. Even though it is bonded to US Dollar, the price might start growing after it becomes widely accepted.

Last Words

Before you decide to invest in any of these options, it is essential to learn more about the factors that are affecting changes of values on the market. That will help you to make the right moves by determining the right moment to buy or sell any type of digital assets.

Also, be sure to read analyses and predictions, but only from those sources with more experience and knowledge about this market and technology behind it. The main issue is that we can find all kinds of news today where you will read different things about same coins. Keep in mind that investors might try to influence other people by sharing inaccurate information. Also, always determine your budget in advance, along with proper trading management.

About the author

Quentin Hack