Those who are a little accustomed to the world of Cryptocurrency may know that Bitcoin is the king of that world. From the very invention of this Cryptocurrency, it has become so popular that the term Bitcoin is used as the synonym of Cryptocurrency.
But there are many other Cryptocurrencies in the market that are also popular and have the potential to get you attracting returns. Here, I will talk about some of the popular Cryptocurrencies other than Bitcoin.
The 5 Most Important Cryptocurrencies Other Than Bitcoin
Here is the list of the 5 most important Cryptocurrencies other than Bitcoin. These Cryptocurrencies have also gained massive popularity in the past few years. All of these Cryptocurrencies have the potential to offer you a profitable deal.
So, let’s get started with the 5 most important Cryptocurrencies apart from Bitcoin.
If we eliminate Bitcoin from the list of the top Cryptocurrencies, Ethereum can easily take the position of Bitcoin. And in the present, on the basis of the market capital, Ethereum is on the second-ranking just after Bitcoin.
Ethereum has a market capital of $204,386,750,630 along with a 24-hour trading volume of $20,624,157,710. This is the reason why there are a number of investors who consider Ethereum as a great alternative to Bitcoin.
In the year 2015, Ethereum came into the Crypto market as digital cash. But being a decentralized platform, it soon started to support smart contacts and, of course, decentralized apps. Apart from creating new tokens, the Ethereum blockchain also can launch decentralized finance projects.
Have you heard about the silver of Bitcoin’s Gold? Yes, it is Litecoin. Other than Bitcoin, Litecoin is another very important Cryptocurrency. An MIT graduate, Charlie Lee, who was also a Google engineer, created Litecoin in the year 2011.
This is open-source software and also s decentralized peer-to-peer cryptocurrency. Along with serving as digital cash, Litecoin enables cross-border payments as well, just like Bitcoin. The transaction fees of Litecoin are lower than Bitcoin as it is four times faster in processing time and also not that resource-intensive.
As per the miners, the algorithm of Litecoin is much more appealing than the SHA-256 algorithm of Bitcoin. This is another factor that affects the investment. Litecoin is also the most widely accepted Cryptocurrency.
3. Bitcoin Cash
There is no doubt that other than Bitcoin, Bitcoin Cash is one of the top 5 Cryptocurrencies. For resolving the scalability and many other issues that were developed due to the popularity of Bitcoin, another branch of Bitcoin was created in the year 2017.
And that new branch is Bitcoin Cash. 8 times larger blocks were introduced by Bitcoin Cash, and it was also increased to 32 MB. And these larger blocks are able to allow transactions to be processed. This enables faster processing time along with lower fees.
Across the globe, over 5,000 locations have accepted Bitcoin Cash. This Cryptocurrency also can be used for online purchases and payments. The market capital of Bitcoin Cash is $9,684,429,214. Experts also say that Bitcoin can replace Gold and Bitcoin Cash can replace fiat.
At the same time, Ripple is a Cryptocurrency and also a network. This Ripple network is used to transact money around the world without any third party. For the execution of several cross-border payments, Ripple is the cryptocurrency that is used widely.
You all may be aware of the current SWIFT system that is used by major financial institutions and central banks. One of the main competitors of this system is Ripple. The reasons behind this are the lower transaction fees and faster processing time of around 3 to 5 seconds.
Across 40 countries, over 100 financial institutions have employed Ripple. There is also a talk that giants like Western Union and VISA could accept Ripple soon. You also will be amazed to know that unlike most of the other Cryptocurrencies, Ripple is not needed to be mined.
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Do you think issues like interoperability, crypto mass adoption, and scalability need improvement? Then you might be happy to hear that Cardano is the very first blockchain-based peer-reviewed platform that has the aim to solve these issues.
The actual platform was released in the year 2017, after the name of mathematician Gerolamo Cardano. Cardano has a solid research foundation, which combines a various range of technical innovations here. And the team also had managed to raise $63 million during the time of its initial coin offerings.
Ouroboros is the moving force of Cardano. It uses a more democratic and less energy-consuming proof-of-stake protocol. Cardano is also referred to as the Cryptocurrency of the third generation.
All the Cryptocurrency that I have mentioned earlier are the best after Bitcoin. Each of them has unique features and a brighter future. As the trading rate of Bitcoin is really high and increasing, you can think of all these alternatives that also can give you huge profitable returns.