Top 10 Most Important Cryptocurrencies Other Than Bitcoin
Most Important Cryptocurrencies Besides Bitcoin
In this article, We are going to discuss and identify the top leading cryptocurrencies other than Bitcoin.
Bitcoin is the most popular cryptocurrency in the market, but it's by no means your only investment option. In fact, depending on your trading style or bankroll, it might not be the best choice. So if you're investing for the first time or looking to expand your portfolio, then you should know about other Important cryptocurrencies that could potentially give huge returns.
So what are the best cryptocurrencies to invest in other than Bitcoin? What are the other most important cryptocurrencies that can generate big returns other than bitcoin?
And what's the best alternative to Bitcoin? And will any cryptocurrencies rise as Bitcoin did? In this article, We are going to discuss and identify the top leading cryptocurrencies.
Top 10 Most Important Cryptocurrencies Other Than Bitcoin
Here you’ll find the most popular and important Bitcoin alternatives, which are also profitable cryptocurrencies.
1. Ethereum (ETH)
Ethereum is the number one alternative to Bitcoin, and many investors see it as a better long-term investment. It's certainly got the edge in terms of technology, as well as lots of support from industry-leading companies. The Ethereum blockchain supports Amazon Web Services, Microsoft Azure, and helped launch JP Morgan's digital USD. Moreover, its biggest fans believe Ethereum's network will form the basis of a new, decentralised internet that will revolutionise social media, the finance industry, and data protection. And at less than $400 a coin, Ethereum is an excellent option for first-time investors.
2. Litecoin (LTC)
Often referred to as the silver to Bitcoin's gold, Litecoin is one of the more established players within the crypto space. Created by an MIT graduate and former Google engineer called Charlie Lee, Litecoin is a рееr-tо-рееr сrурtосurrеnсу аnd open ѕоurсе software. It's technically very similar to Bitcoin, although it has faster processing time. Litecoin is also one of the most widely accepted cryptocurrencies. As of August 2020, Litecoin has a market cap of $3billion and a per-token value of $58.
3. Tether (USDT)
Tether was one of the first stablecoins. These are cryptos backed by a fiat currency; in this case it's the USD. Stablecoins were designed to minimise market volatility and attract more cautious investors into the crypto space. Technically, Tether is a blockchain network for storing value and currency transactions. According to The Wall Street Journal, 80% of bitcoin trading happens in Tether, making it a major source of liquidity in the cryptocurrency market.
4. Ripple (XRP)
Good investing is all about evaluating risk. Ideally, you want to minimise exposure to risk while maximising the potential for rewards. Ripple fits the bill perfectly. You can invest in this real-time global payment network for less than $0.30 a coin. So for a few hundred dollars you could add a significant amount of Ripple to your portfolio. And when you can buy big volumes at that kind of price, even a modest bull run would lead to some nice returns. Some speculators think Ripple could hit $25 a coin by 2023. Ripple is an opportunity for traders who buy low and sell high in the future. Well worth a punt.
5. Libra (LIBRA)
In 2018 rumours began circulating that Facebook was thinking about launching its own cryptocurrency. The stories were then confirmed in 2019 when Facebook released a white paper on Libra, a new kind of digital coin. It's scheduled for release later this year. And given Facebook's incredible global reach and the potential for massive volumes of exchange, Libra will draw a huge amount of attention from inside and outside the crypto sphere. One to look out for!
6. Monero (XMR)
One for crypto purists, Monero has a strong focus on decentralisation and scalability. It uses a unique ring signature verification to protect the user's identity at all times, making Monero 100% secure, private, and completely untraceable. But it's guarantee of anonymity has given Monero a bit of an unsavoury reputation. In fact, it's been linked to large scale criminal operations around the world. But Monera's revolutionary technology can also be a force for good. It helps prevent identity theft, fraud, and could give people full control over their data.
7. Binance Coin (BNB)
Binance Coin is the token of the Binance exchange, one of the biggest cryptocurrency exchanges in the world. It lets users trade all types of crypto quickly and securely. It can also pay for Binance transaction fees. Users who pay for transaction fees in Binance coin are then eligible for a rebate after 5 years on the platform. Binance has a market cap of more than $3billion and a +$200million daily trading volume.
8. NEO (NEO)
NEO was founded by computer programmers Da Hongfei and Erik Zhan in 2014. Often referred to as the Chinese Ethereum, NEO automates the management of digital assets through smart contracts. It also aims to create a distributed smart economy system in which users can buy, sell, and trade without the need for intermediaries. And NEO has a major competitive advantage in the Chinese crypto market. It was specially designed to pass China's strict financial regulations, which have already banned Bitcoin, initial coin offerings (ICO) offerings, and cryptocurrency exchanges.
9. Tezos (XTZ)
Tezos is a decentralised blockchain technology. Like Ethereum, it was designed to facilitate smart contracts. However, Tezos takes the idea of smart contracts one step further by allowing users to control the rules of the network directly. This flexibility makes Tezos a continually evolving system, which means it's well-positioned to respond to any future demands. The Tezos price reached an all-time high this year, leading to renewed interest in its potential investment value.
Chainlink has had a busy year. It's also been a good one for early investors. In Sept last year, Chainlink was hovering around the $1.60 mark. By August 2020, it had jumped to over $19. It's now levelled off to around $12 a coin, but the future still looks very bright. Chainlink bridges the gap between smart contracts and real-world applications. And as the two become increasingly intertwined, Chainlink's stock is likely to start rising again. A savvy looking investment.
Bitcoin will always be the trendsetter. And despite the vast number of new digital currencies, it will continue to dominate the crypto sphere for a long time to come. But it's by no means the only game in town.
As you can see, lots of these cryptocurrencies coins are full of potential. More importantly, many of them are not even trying to replace Bitcoin. Instead, they were designed for very different purposes and help crypto go more mainstream. And the ones that can do it best are likely to be the most fruitful long-term investments.
When it comes to the top 10 most important cryptocurrencies other than Bitcoin, try and remember the following points:
- Ethereum is Bitcoin's biggest 'rival.' It has better technology, more use-value, and backing from some of the biggest companies in the world.
- Most Bitcoin alternatives offer something very different from Bitcoin, which means crypto is not a winner-take-all game. Lots of cryptos have the potential to gain value. You don't have to 'gamble' on one single coin to win.
- Ripple has the potential to rise like Bitcoin did. It's really cheap compared to Bitcoin, and experts predict serious growth during the next 5/10 years.
- Litecoin is the cryptocurrency most similar to Bitcoin. But it's also faster and a lot cheaper. Litecoin is an excellent place to start if you're looking for an alternative to Bitcoin.
Now you know the top 10 most important cryptocurrencies other than Bitcoin. If you're feeling inspired to start cryptocurrency trading, you may be pleased to know that etoro provides the ability to trade with Crypto assets and CFDs on up to 90+ cryptocurrencies. Crypto Traders can build a diversified portfolio with the most popular coins.
Are you ready to start trading cryptocurrency? Which of the top ten cryptocurrencies trading coins will you consider to trade? Let us know in the comments below.