Due to the high cost of a single Bitcoin, some investors may have to find Bitcoin Alternative Cryptocurrencies to invest in. For example, towards the end of 2017, the price of bitcoin skyrocketed to the tune of $20,000 making it unaffordable to some potential investors. The unprecedented increase in price came after CME group and Chicago Board of Options Trading (CBOE) announced that they would be launching the futures trading.
While the price has currently stabilized it is still far too high compared to other cryptocurrencies. If you are interested in investing in a cryptocurrency, do not be discouraged that you cannot afford a few bitcoins. There are several other alternatives that you can try and although they are less popular than bitcoin, you could still make modest profits by investing in any of them.
So, what are the Best Bitcoin Alternative Cryptocurrencies?
Ether is the value token of the Ethereum blockchain and is valued over $ 1300 as of the time of this writing. Unlike bitcoin which offers a single application of blockchain technology (a peer-to-peer electronic cash system), the Ethereum blockchain allows you to run any decentralized application. Over 90% of other alternative coins are built on Ethereum Blockchain and Smart contract. For me, I think this will keep creating more publicity for Ethereum, it will keep more money working around Ethereum and will help to keep increasing the Value of the Ether.
Ripple has one of the largest market capitalizations among cryptocurrencies. The Ripple Company provides frictionless international money transfer services through its blockchain. Financial institutions wishing to benefit from reduced costs of money transfer join the Ripple blockchain and use the Ripple digital currency. It’s not just any other remittance services provider, you have to get the money that you want to be transferred converted into Ripple digital currency then reconverted into other currency when it reaches the recipient. By December 21, 2017, Ripple exchanged at $ 1.
The price of litecoin is $277, making it much more affordable than bitcoin. Since 2013, its market capitalization has risen from $1 billion to more than $15 billion. In addition to the relatively lower price of litecoin, it takes 2.5 minutes to process a block of litecoin compared to bitcoin’s 10 minutes.
Valued at $ 518, Zcash is an open protocol that is not controlled by anyone. No one controls the mining and distribution of the currency either. Zcash’s blockchain only shows that a transaction took place and not the amount transferred or the parties involved. This is different from the bitcoin blockchain which shows the amount and the parties to a transaction. Zcash Company has no access to private or shielded transactions except where it is a party to the transaction or one of the parties provides it with the view key to the transaction.
Verge currency is based on the original bitcoin blockchain but with some “improvements”. According to its website, verge aims to provide individuals and businesses with an efficient, fast and decentralised way of making direct transactions while at the same time maintaining privacy. Verge is one of the most affordable digital currencies with the value of $ 0.1583 and a market capitalization of around $ 2.2 billion.
There are many other Bitcoin Alternative Cryptocurrencies that we could not discuss here but you can still read about and perhaps purchase the one that interests you.
However, smart investors are investing in newer cryptocurrencies and tokens.The reason is because, it gives you the opportunity not to invest too much money and they stand a higher chance of appreciating in value than older, higher and bigger cryptocurrencies like Bitcoin.
Here are some New Cryptocurrencies you can invest in 2018.
Please always check the most current information on the various websites and online about all the Cryptocurrencies listed here. Invest wisely!!!