Bitcoin is one of the most famous amongst cryptocurrencies. Bitcoin became very famous and got all the attention from the investors in 2017 when the value of Bitcoin grew from around Rs. 70,000/- to almost Rs. 14,00,000/-. With that much growth in Bitcoin, it not only profited its investors but also given chance to other cryptocurrencies to grow and make their way. If you talk about today, 2020, yes there are real Bitcoin alternatives. There are more than fifteen hundred different cryptocurrencies an investor can choose from.
From these many options to choose from, it becomes difficult for us to pick the right one if you are looking for an alternative to Bitcoin. We have made a list of some cryptocurrencies that have different and unique features, goals, and great chances to grow high in the future. The list includes ETH and other Altcoin replacements to Bitcoin.
Let’s take a closer look at these Bitcoin alternatives:
1. Ethereum best Bitcoin alternative
If you talk about fame, then Ethereum is the second most famous cryptocurrency after Bitcoin. It was launched in 2015. Ethereum is not limited in terms of supply, unlike Bitcoin whose supply is limited. Ethereum’s current price is under Rs. 70,000/-, but it has all the features and capabilities that it may grow and reach to that level.
If one needs an answer to the question that why to invest in Ethereum? Then the answer is very simple, these days cryptocurrency is high on demand and rise, and it is wrong to say Ethereum is one of the safest options to invest in. It can be used in many places more than even you may know. The transaction speed is very good as compared to the Bitcoin transactions take.
2. An alternative to Bitcoin, Ripple
Ripple was founded in 2012. Ripple provides you a solution for the problem that is involved in international transactions and that too at very low cost. International transactions are not only slow but are very expensive too.
The transaction speed of ripple is very good at it takes only a few seconds as compared to Bitcoin. Ripple got all its popularity in 2017 as it was the most successful cryptocurrency of 2017.
3. Bitcoin alternative Litecoin
Litecoin was founded in 2011. It is very similar to Bitcoin in terms of technology and function. Litecoin was built in the same blockchain as Bitcoin. Litecoin is way cheaper than Bitcoin.
The speed of Litecoin is better than as compared to Bitcoin. It generally takes 2.5 minutes to complete a Litecoin transaction.
4. Monero a popular alternative to bitcoin
Monero was launched in 2014. The best part of Monero is that it is the only cryptocurrency that is untraceable. It has all the functions similar to Bitcoin that is through the blockchain.
Monero generally takes 2 minutes for the transaction as compared to Bitcoin which takes 10 minutes. It has a dynamic block size; it adjusts automatically as per your network volume grows.
5. Cardano an alternative to Bitcoin
Cardano was launched in 2017. It is the newest amongst all cryptocurrencies. It is not wrong to say that it is the 3rd most famous amongst cryptocurrencies after Bitcoin and Ethereum.
Cardano had great transaction speed which is 257 transactions per second. Cardano can three problems utmost and those are interoperability, scalability, and sustainability.
Conclusion
This is the list of alternatives to Bitcoin. There is an adequate number of cryptocurrencies available in the market other than Bitcoin, but we have picked the best for you. These are the best Bitcoin competitors and it is worth exploring them as Bitcoin alternatives. Just be sure before you invest in any of the cryptocurrencies and may you get the maximum profit out of it.