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6 popular bitcoin alternatives to choose from

Bitcoin, the flagship of digital currencies, has stood its ground in the cryptocurrency game. It continues to keep the cryptocurrency market afloat in many more ways than one. It still accounts for a major chunk of the aggregate market cap. With the beginning of trading bitcoin back in 2010, investors have relished the several benefits that came along with it. Moreover, the digital currency came with a huge scarcity which further pushed the value limits of the virtual token. However, with the inability to reach consensus in terms of the upgrades and slow transaction validation, there are certain damages that are expected to follow. If you do not wish to place your trust and do not foresee viability, there are several rivals out there that are great alternatives to bitcoin. These alternatives could one day take the place of the valuable digital currencies.

A huge chunk of some of the best bitcoin alternatives offers some amazing advantages in terms of technicality. These alternatives bring with them a new side of digital currencies. Straying away from the basic idea of being an alternative to cash, the best bitcoin alternatives also offer different types of services, platforms for social media, and opportunities to undertake software development. If you are looking for the chief competitors of bitcoin that will aid in building a strong cryptocurrency nest, here are a few to choose from:

Ethereum – Ethereum has been one of the strongest competitors of bitcoin and, no doubt, makes for one of the best bitcoin alternatives. The digital currency has had an exceptional offering so far with the worth rising from single digits to more than triple digits. Planted at the second position, this alternative retains its position due to the utility of the underlying blockchain technology. Ethereum stands out as a result of the ability for currency and non-currency use. The token can be used as a medium for exchanging different types of services and goods. The strong case of Ethereum can push it in the direction of overtaking bitcoin soon.

Litecoin Litecoin is yet another alternative to bitcoin that has been on the list of most investors who have been seeking for some of the best bitcoin alternatives. The digital currency emerged in the year 2011 and is one of the oldest out there. The currency is moving towards owning its own game as the ultimate medium of exchange. Today, the digital currency has grown to partner with numerous merchants and aims to push the number higher. To its delight, Litecoin has recorded a higher number of daily transactions than bitcoin. However, it cannot be denied that Litecoin too has its share of setbacks in terms of new developments, but it stands as a strong competitor to bitcoin.

Digital cash (DASH) – Having been launched in 2014, Dash has been around for long. The cryptocurrency has managed to successfully maintain the popularity it gained since its early lifecycle. What makes it stand among the best bitcoin alternatives is the advocacy of owner privacy. Owners can enjoy an additional layer of privacy with Dash transactions. Moreover, along with it being much cheaper than bitcoin, undertaking a transaction using Dash is much quicker with its “InstandSend” feature.

Monero – Monero is a privacy coin that is estimated to have great ability in uprooting bitcoin from its top position in the world of important virtual tokens. This privacy coin takes the idea of anonymous transactions and inflates it to a higher level. The fact that Monero comes with enhanced privacy can be credited to the hidden elements of the transaction. Data such as the amount being transferred and the receiving address are safely hidden. Monero serves as one of the best bitcoin alternatives due to the latter’s entirely public ledger. However, the choice of mainstream purchase solutions with Monero is limited, at least for now.

Stellar Stellar is yet another cryptocurrency that is expected to replace bitcoin and move it from the top of the table. The virtual coin has made its name for its blockchain and lumens coin. The transaction is extremely quick with its blockchain and can be validated within a few seconds. It also allows enterprises to customize legally binding contracts according to the needs of their business as it uses smart contracts. The virtual currency also continues to be bound in some great partnerships. Moreover, Stellar’s blockchain is expected to be playing a major game-changing role in emerging economies. Thus, without a doubt, Stellar can be considered to be one of the best bitcoin alternatives.

Dogecoin – While dogecoin may be the smallest virtual currency on the block, it is backed by major loyal fan support. It is one of the most well-known alternatives to bitcoin as it derives its name from the popular internet meme, “doge.” This type of currency allows quick transactions as there is no limit on the currency that can be mined. The no-limit advantage sets it apart from the rest. However, the ease and lack of limit lead to dogecoins as not being of a greater value as of the other listed currencies.

The prices of cryptocurrencies can be extremely volatile, and it is essential to undertake a very close study of the recommended coins before investing. The above guide should not be treated as the holy grail of cryptocurrency investment. However, the alternatives can bring a fortune of results when evaluated with the right values and features.

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