Forget investing in Bitcoin, Ripple, and Litecoin. Investors are now looking towards other cryptocurrencies that offer more potential for growth. So what exactly can you buy if you’re hearing about this whole cryptocurrency thing and aren’t ready to shell out $17,135 for a single bitcoin (that’s how much one bitcoin was worth when this article was written)? Well, here is a list of five alternative cryptocurrencies worth considering.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. In addition to executing “smart contracts,” which makes Ethereum so special, it also features a crypto token called Ether. Ethereum went live on July 30th, 2015, with 72 million coins pre-mined for crowd sale for 2000 ETH per BTC and initial yearly inflation of 18%.
There were around 90 million ETH specials at the time, meaning that the total number of coins available after crowd sale was significantly less than 10% (I will come back to this in a minute). If you’re a beginner in the crypto world, then you can open an account and get started with the trading process today itself.
We are living in the era of information. We want to share, not just with our families but also with our friends and the world. And it’s not only about people either – machines are increasingly becoming smarter and more connected. The way that information is shared has changed dramatically over time too.
Blockchain technology allows us to share information in a trustworthy manner without the need for central authorities or servers. Its security system is based on decentralization, so there’s no single point of failure or attack because it relies on hundreds of thousands of nodes worldwide.
3. Ripple (XRP)
This cryptocurrency was designed to allow people to send money globally at a low price and relatively fast speed while avoiding banks completely. The transactions on Ripple only take about four seconds to complete, whereas other cryptocurrencies such as Bitcoin can take up to an hour. Ripple has locked in partnerships with companies such as American Express and Santander Bank, making it the ideal cryptocurrency for transferring money across borders.
Avalanche is a security-centric cryptocurrency. It uses a very specific type of consensus algorithm (Proof-of-Stake Hybrid). Other currencies such as Dash and PIVX use the same consensus algorithm. However, one interesting thing about Avalanche is that it has no limit to the number of coins that will be mined.
This makes it even more deflationary than Bitcoin (and all other cryptocurrencies, for that matter). Also, the transaction fee goes entirely to miners and stakers. The developers will get NO TAXATION from transactions on this blockchain. This makes it a very attractive platform for both average users and miners.
5. Basic Attention Token
The Basic Attention Token is designed to solve the broken state of the current digital advertising industry. As it stands, internet users are the product sold to advertisers instead of the customers themselves.
This means that their browsing history and geographical location are collected, stored, and used without their consent. According to the Interactive Advertising Bureau, this results in targeted adverts that are not relevant, resulting in a loss of $23.84 billion per year.
The Bottom Line
As Bitcoin and other cryptocurrencies have grown in popularity, their value has spiked. However, investing in Bitcoin is not the only way to use cryptocurrency. Many people choose to invest in Litecoin because it’s a safer bet when looking at long-term investments. It would be best for you to start investing in the above-listed cryptocurrencies as they’re likely to boom in 2022.