Currently, Bitcoin is one of the most popular cryptocurrency. You might have seen or read about it on the internet. A lot of people are not aware of crypto currencies hence one might not know that there are many other cryptocurrencies besides Bitcoin. Many of these alternatives came after Bitcoin was released. In an attempt to attract customers and have a high position in the market, the alternatives offer great features. In this article we will introduce great alternative crypto currencies to Bitcoin:
Dash is an alternative cryptocurrency to Bitcoin whose name is coming up a lot in the market currently. Started in 2014, Dash, earlier known as DarkCoin is becoming very popular because of its privacy feature which is even better and stronger than Bitcoin and many other similar companies. It gives utmost importance to privacy and anonymity. It is even said that the security and privacy of transactions are so anonymous that it is almost not traceable. The fees are also cheaper compared to other cryptocurrencies. Unlike Bitcoin, you don’t need a wallet and transactions can be done immediately.
Litecoin was released in 2011 and is another good alternative to Bitcoin. The features are somewhat similar to Bitcoin but cheaper. Due to its similarity yet other features Bitcoin does not offer, it has often been called ‘the silver to Bitcoin’s gold.’ Litecoin also produces more coins, and there is a wallet encryption for security measures. The transaction is also faster than Bitcoin. Its price per unit is estimated to be $13.78.
A much following entry in the market yet growing to be one of the best alternatives to Bitcoin is Ethereum. Ethereum was released in 2015, and it has been just two years since its inception. Ethereum boasts of its extremely fast transactions. You can mine for Ethers, which is the name given to coins in Ethereum. A lot of investors have predicted that Ethereum would be the best company to invest in. Currently, the value of one Ether is $10.76.
Peercoin was introduced in 2012. At its cheap cost, Peercoin is one of the safest and most secure cryptocurrencies available. It has a unique feature called the ‘Proof of stake’ system or POS system. The way POS works is that, if you have more coins than the chances of you mining and getting more coins is higher. This is also why Peercoin is known to be a great source for mining coins. But a setback which can also be an advantage is that Peercoin is an inflationary currency. In 2014, the price was $3.37.
Another recent entry was Monero in 2014. At the beginning of this year, the exchange rate of one Monero was $16.75. Thanks to its CryptoNote encryption, users mine for Monero coins using both their CPU and GPU. One of the biggest advantage Monero has over Bitcoin is that for mining Bitcoin you need to buy ASIC whereas for Monero you can do it through your PC.