Top 10 Most Important Cryptocurrencies Other Than Bitcoin
Find out more about the top ten best-performing cryptocurrencies (apart from Bitcoin).
In this guide, We are going to discuss and identify the top leading cryptocurrencies other than Bitcoin.
Interested in cryptocurrency investing but have had enough of the buzz around Bitcoin? Then this is the right place for you! In this article, we are going to identify and discuss the top leading cryptocurrencies other than Bitcoin.
Bitcoin might be the most popular cryptocurrency in the market, but it's by no means your only investment option. In fact, depending on your trading style and bankroll, Bitcoin investing might not be the best choice for you.
It has been more than a decade since Bitcoin, the world’s first cryptocurrency, came into existence. Following the unprecedented success of the flagship digital asset, thousands of altcoins have emerged. An altcoin refers to any cryptocurrency other than Bitcoin. Over the past few years, numerous altcoins have rallied significantly, bringing massive returns on investments. So what are the top 10 most cryptocurrencies other than Bitcoin?
Crypto has been one of the biggest financial stories of 2021 so far. Prices and popularity seem to be rising to new levels amid solid institutional acceptance. In addition, institutional investors are increasingly accepting virtual currencies as an alternative asset class. Ultimately, they are looking to maximize their returns in the current investment climate we are facing.
If you're investing in cryptocurrency for the first time or looking to expand your portfolio, then you should understand the complexities of altcoin trading and learn more about some important cryptocurrencies that could potentially lead to huge returns.
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With the surging participation from institutional players, could now be the right time to allocate cryptocurrencies to your portfolio? If you are wondering what cryptocurrencies to buy, you are at the right place. Let us take a look at the top 10 cryptocurrencies (other than Bitcoin) that could help you generate massive returns in the future.
In this article, We are going to discuss and identify the top leading cryptocurrencies besides bitcoin.
Most Important Cryptocurrencies Other Than Bitcoin
Here you’ll find the top 10 most popular and important Bitcoin alternatives, which are also profitable cryptocurrencies:
1. Ethereum (ETH)
Thanks to the increasing popularity of DeFi and NFT sectors, Ethereum has seen record heights over the past couple of years.
Ethereum is an open-source operating system and computing platform that aims to implement a globally decentralized, digital computer for executing peer-to-peer contracts. Ether (ETH) is the fuel of the Ethereum network. It is a utility token that is necessary for running apps or processing transactions on the blockchain. This way, ETH has positioned itself in the top 3 cryptocurrencies with a killer advantage.
Ethereum’s high-end technology and programmability allow users access to various DeFi apps and NFT along with other dApps. Also, when it comes to developers, Ethereum has a rich talent pool.
Experts and crypto enthusiasts say that it is best to buy Ether now to double your money in the future. Daniel Polotsky, the CEO and founder of CoinFlip, says, “Proof of stake removes the costs associated with mining such as electricity and hardware costs, meaning that fewer ETH will be sold by miners. Instead, these ETH will be staked, driving up the value even further.”
The increasing popularity and growth of DeFi is yet another bullish catalyst for Ethereum. The asset shows a renewed strength and is only expected to grow further with ETH 2.0, making now an ideal time to buy Ethereum.
Ready to invest in ETH?
2. Cardano (ADA)
Cardano is one of the fastest-growing crypto platforms in the market and is definitely one of the most important cryptocurrencies to consider other than Bitcoin.
Cardano stands out from its competitors because of its unique Ouroboros Proof-of-Stake protocol that makes it an eco-friendly asset.
Cardano is a third-generation blockchain that aims to solve the scalability issues faced by Ethereum and Bitcoin. Instead of layer solutions on top of the existing technology, it started from scratch and created an entirely new and advanced blockchain.
Cardano is one of the top three cryptocurrencies that have a killer advantage over others. A significant part of the credit goes to its unique Ouroborus Proof-of-Stake mechanism. Both Bitcoin and Ethereum engage a highly energy-intensive Proof-of-Work mechanism. It requires miners to utilize powerful computers to solve complex math equations. This massive energy consumption has raised heavy criticism lately in the crypto space.
Meanwhile, Cardano founder Hoskinson said the network is "1.6 million times more energy efficient" than Bitcoin. This sustainable nature of the token has moved numerous investors to buy Cardano recently, boosting its value and price. So buying Cardano now could help you generate huge returns in the future.
Moving forward, experts predict that Cardano has the potential to overtake Ethereum. Hoskinson has high expectations for the token. In a statement, he stated that it has the potential to beat out ETH 2.0, and if it does so, Cardano would see a high increase in its value in the coming decades.
The asset is focused on implementing ways that blockchains can solve real-world problems, especially in developing countries. For example, it had announced a significant partnership with the Ethiopian Ministry of Education earlier this year.
If you are looking for a unique cryptocurrency to invest in this year, then put Cardano on your watchlist.
So, do you think that Cardano is a good investment?
3. Ripple (XRP)
Experts believe that investing in Ripple now could pay off in the future.
There’s no doubt that Ripple is one of the leading cryptocurrencies other than Bitcoin.
XRP is the native cryptocurrency for Ripple, a payment platform that makes international money transfers faster, cheaper, and easier. Ripple blockchain network is enticing to many investors because the platform facilitates seamless international transfers. With a traditional bank, international money transfers generally take up to 10 business days. Ripple enables the transactions within mere seconds.
XRP serves a fundamental purpose within the Ripple Ecosystem. This token is the digital asset that facilitates the use of the network utilities. In this way, XRP functions as a utility token. This token represents the transfer of value across the Ripple Network.
Ripple also has partnership contracts with big banks across the globe. The more contracts it signs, the more accessible XRP is to investors. Despite the ongoing lawsuit with the US Securities and Exchanges Commission (SEC), Ripple currently holds the upper hand. It has drawn attention to the company’s outstanding team of developers, and this popularity is boosting the growth of Ripple.
Some speculators think Ripple could hit $25 a coin by 2023. Thus, Ripple is a great opportunity for traders to buy low and sell high in the future.
In the end, good investing is all about evaluating risks. Ideally, you want to minimise exposure to risk while maximising the potential for rewards. Ripple fits the bill perfectly. Now you can invest in this real-time global payment network for less than $1 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.
Buying XRP now could help double (or more) your investment soon if Ripple wins the lawsuit.
4. Solana (SOL)
Solana is fast making a buzz in the crypto world for all the right reasons.
Solano is a unique cryptocurrency described as "a fast, secure, and censorship-resistant blockchain providing the open infrastructure required for global adoption."
With its increasing popularity among traders and investors, crypto analysts predict that Solana is going to explode by the end of 2021. There are several reasons and technical updates that back up this prediction. First, Solana has rapidly positioned itself among one of the top-performing cryptocurrencies in the market. Though the idea behind the project began in 2017, it was officially launched in the market in March 2020.
Second, Solana is an open-source project that leverages blockchain technology to provide decentralized finance solutions. And finally, with its low cost and faster transactions, SOL could replace the Ethereum blockchain in developing dApps. Adding to its popularity, Solana is currently the quickest blockchain network in the crypto industry.
The primary reason for Solana's popularity in the crypto space is its rapid processing times. Though Ethereum is an advanced platform for creating decentralized applications, users needed an alternative option that is cheaper and faster. This is what the Solana blockchain brought in. Its hybrid protocol facilitates decreased validation times for the execution of both smart contracts and transactions.
Solana has a unique distributed ledger network that scales up to 65000 transactions per second (TPS). As a result, it processes faster transactions without compromising network security. If you want to become a part of this growing ecosystem, consider investing in SOL.
Solana is definitely one of the most important cryptocurrencies to consider beside Bitcoin.
5. Dogecoin (DOGE)
If you are planning to buy Doge, now might be the best time.
Dogecoin is a first-generation cryptocurrency that can be used to transfer value globally in a secure manner. Famously, Dogecoin features the Shiba Inu from popular internet memes. The developers used this character to keep the project light-hearted. Like Bitcoin and Litecoin, the purpose of this coin is to allow for peer-to-peer transactions to occur in a censorship-resistant manner. As of late, Dogecoin has seen considerable coverage in the media due to notable price hikes.
Dogecoin shares many technical characteristics with the first crypto, Bitcoin. Consequently, the network is secure and provides real-time consensus. Like Bitcoin, hackers would need to control 51% of the network’s hashing power to alter the state of the blockchain. Considering the current Dogecoin hashrate is 203.97 TH/s, this is very unlikely.
Dogecoin uses a Proof-of-Work consensus algorithm to keep the network secure. However, this PoW system is not the same SHA-256 version used by Bitcoin. Instead, the network relies on a scrypt technology in its PoW mechanism. This prevents the use of high-powered Bitcoin mining rigs. Instead, you can only mine Dogecoin using dedicated FPGA and ASIC devices.
A prominent feature that separates Dogecoin from most other altcoins available today is inflation. Bitcoin and several other cryptocurrencies are deflationary in nature, formulated to have a supply cap of currencies. The problem here is that once the cap is reached, it might cease to be a profitable asset for miners. Eventually, the price of the token might rise enormously high. While Dogecoin, rather than trying to beat deflation, depends on it.
Do you think Dogecoin is worth considering?
6. Binance Coin (BNB)
Invest in the future of Binance by investing in BNB.
If you are looking for other important cryptocurrencies besides Bitcoin, then consider Binance Coin.
Binance Coin (BNB) is a cryptocurrency created by the popular Binance Exchange. Notably, Binance is by far the largest crypto exchange in the world.
Binance is currently the largest cryptocurrency exchange, supporting over 1.4 million transactions per second (TPS). In 2017, Binance created BNB as a utility token for discounted trading fees. However, its uses have extended to numerous applications, including travel bookings, payments for transaction fees (on the Binance Chain), online service payments, entertainment, and financial service payments. In addition, the numerous use cases offered by BNB make it an enticing investment option.
BNB has two main functions. First, it works as a discount token to pay for trading fees on the exchange. Secondly, it fuels the Binance Smart Chain (BSC). Back in 2017, Binance Coin was only a utility token that would give a trader a discount on trading fees. However, later in September 2020, Binance launched the Binance Smart Chain, a platform built for smart contracts, decentralized applications (dApps), and DeFi services.
As mentioned earlier, Binance is the most popular and largest crypto exchange in the world. It has a diverse selection of coins to buy/sell and the most crypto to fiat pairs. In 2021, crypto trading volume increased significantly, and Binance was at the heart of this action.
BNB benefited hugely from this as traders use BNB on the Binance exchange to get a discount on fees. Notably, the demand for BNB likely increased when Bitcoin began to surge to $60k. As a result, many crypto experts think that Binance Coin may continue to go up in value, possibly surpassing Bitcoin price. This does not seem far-fetched when you compare BNB’s market capitalization growth to Ethereum and Bitcoin.
Currently, the BSC is the second-largest DeFi platform, making BNB a valuable asset to hold.
7. IOTA (MIOTA)
IOTA has the potential to grow, making it a compelling investment choice.
IOTA is one of the most impressive coins other than Bitcoin. While most cryptos are based on blockchain technology, IOTA is the first one to take advantage of devices that are connected to the Internet of Things (IoT).
IOTA (MIOTA) is a distributed ledger designed to record and execute transactions between machines and devices in the Internet of Things (IoT) ecosystem. The ledger uses a cryptocurrency called mIOTA to account for transactions in its network. IOTA’s key innovation is Tangle, a system of nodes used for confirming transactions. IOTA claims that Tangle is faster and more efficient than typical blockchains used in cryptocurrencies.
The IOTA Foundation, the nonprofit foundation responsible for the ledger, has inked agreements with prominent companies, such as Bosch and Volkswagen, to extend the platform's utility among connected devices.
IOTA founders claim that the platform solves multiple problems plaguing cryptocurrencies that are developed on standard blockchains. These problems include the centralization of mining to a specific group, low network speeds, and scalability.
For cryptocurrencies, scalability refers to increasing the number of transactions processed by a blockchain without affecting other metrics. Those problems are primarily caused due to a backlog of transactions on the Bitcoin blockchain. The backlog itself is due to various reasons, from small block sizes to the difficulty of puzzles that miners must solve to earn the cryptocurrency as a reward.
IOTA solves these problems by reconfiguring the blockchain architecture into Tangle, a new way of organizing data and confirming transactions.
8. Shiba Inu (SHIB)
Learn about the Shiba Inu phenomenon and purchase SHIB while the tokens are affordable.
Shiba Inu (SHIB) is a recent breakout meme token that captured the interests of the blockchain investment community. Many see this token as a knock-off of Dogecoin since both borrow inspiration from the famed Shiba Inu breed of dog.
Despite being created with a light-hearted approach, the Shiba Inu token provides users with more earning potential. The main goal behind the project was to create an ERC-20 token and ecosystem that was priced low enough that anyone could own millions of them. Therefore, the creators deliberately launched SHIB coins priced well below a penny. The strategy is to make the platform profitable just by hitting $0.01.
SHIB is an Ethereum-based token. As an ERC-20 token, it enjoys the security and support of the Ethereum ecosystem. SHIB is also the chief utility token of the Shiba Inu ecosystem. This token serves multiple purposes, such as paying fees and rewards. You can also use it as a cryptocurrency. Users can send value globally in seconds using SHIB. It is secure and reliable because it leverages the Ethereum blockchain. SHIB was launched with 100 billion tokens.
While Dogecoin retains a significantly larger market capitalization and user base, Shiba Inu can expand its functionality. Although Shiba cannot do much more than Doge can, smart contracts on the Ethereum network provide more opportunities to the Shiba developers.
ShibaSwap will introduce new ways to use Shiba tokens, providing more value to its users. For example, it will incentivize new users to buy Shiba tokens and stake them in liquidity pools, hopefully driving the price up. Considering these factors, investing in SHIB now could help you generate massive returns in the future.
9. Bitcoin Cash (BCH)
For various reasons, experts predict a bright future for Bitcoin Cash.
Bitcoin Cash is no doubt one of the top 10 coins to consider other than Bitcoin.
Bitcoin Cash is a peer-to-peer (P2P) electronic cash system that resulted from a Bitcoin hard fork. It is by far the most successful hard fork of the Bitcoin network. Bitcoin Cash is notably faster than Bitcoin, and has some very noteworthy supporters. It is currently working to resolve scalability issues faced on the Bitcoin blockchain. BCH is also easier to mine when compared to BTC because of the integration of new protocols.
While Bitcoin can process about seven transactions per second (TPS), Bitcoin Cash can support more than 100 transactions per second. As a result, it makes the list of best crypto to invest in because of its faster processing of transactions with low fees.
Bitcoin Cash is the direct result of scalability problems encountered on the Bitcoin blockchain. In 2017, many issues took center stage as Bitcoin transaction time and fees reached new heights. The increased fees and delays were the results of too much network congestion resulting from larger transaction sizes. Bitcoin Cash does away with these concerns through an increased block size.
These larger blocks can fit more transactions per block. This strategy increases the network’s transactions-per-second rate as a whole. Bitcoin Cash utilizes a Proof of Work (PoW) consensus mechanism similar to Bitcoin to mine new coins. Both Bitcoin and Bitcoin Cash integrate a difficulty adjustment algorithm (DAA) to keep block times consistent. Originally, both Bitcoin and Bitcoin Cash used the same DAA. However, In August 2017, Bitcoin Cash introduced an addition to the DAA, called an Emergency Difficulty Adjustment (EDA) algorithm, allowing the network to be more responsive.
BCH offers scalability, which implies its potential to grow in the future is massive. Now is the best time to invest in Bitcoin Cash as the prices have slashed down.
10. Algorand (ALGO)
With solid fundamentals in place, Algorand makes for a stellar investment option.
Algorand is a Pure PoS blockchain platform that employs algorithmic randomness to solve the blockchain trilemma. Unlike most blockchain projects, Algorand requires minimal computation. Moreover, as it is a public blockchain platform, developers can utilize it to build decentralized applications (dApps) on top of it. The name Algorand derives from Algorithmic Randomness (Algo and Rand).
The protocol aims to tackle the inefficiencies of ledgers, which is the core of every blockchain project, including Bitcoin, Ethereum, etc. These include scalability, wastage of energy, and high cost of transactions.
Algorand uses the benefits of both centralized and decentralized blockchain projects. It is efficient as a centralized platform and has a governance model of decentralized projects to ensure accountability.
Algorand strives to solve the blockchain trilemma. For the uninitiated, there are three main features of a blockchain platform. They include security, scalability (speed), and decentralization. Many blockchain platforms have only two out of three of these features. For example, Bitcoin has decentralization and security while Ripple prioritizes security and speed.
Ethereum and Bitcoin have slow transactions, but they are decentralized and very secure. They struggle to reach mass adoption because of their slow transaction speeds. The Algorand developer team aims to incorporate all three features on the platform.
Another goal of Algorand is to decrease computational transaction costs. Ordinarily, crypto transfers require a user to pay standard transaction fees. This fee compensates validators and miners involved in processing these crypto transactions. Algorand offers a secure, decentralized, and fast platform with low transaction fees.
Top Cryptocurrency Alternatives to Bitcoin: Summary
Undoubtedly, Bitcoin changed the world of finance. However, BTC is not the only worthwhile crypto.
Crypto platforms like Ethereum and Cardano have taken the world of finance and investments by storm.
Based on the technological advancements that are underway, this appears only to be the beginning. The above digital assets are the top 10 cryptocurrencies other than Bitcoin, which are likely to rally soon. If you are a novice investor looking for cryptocurrency alternatives to Bitcoin, consider investing in the above digital assets.
That said, crypto is still a nascent sector and can be volatile at times. Therefore, it is important for investors to perform due research and analyze a coin’s past performance before investing large chunks of money in it.
To recap, our top 10 cryptocurrencies besides Bitcoin:
- Ethereum (ETH)
- Cardano (ADA)
- Ripple (XRP)
- Solana (SOL)
- Dogecoin (DOGE)
- Binance Coin (BNB)
- IOTA (MIOTA)
- Shiba Inu (SHIB)
- Bitcoin Cash (BCH)
- Algorand (ALGO)
Bitcoin is by no means the only game in town. As you can see, there are many important cryptocurrencies that are full of potential; more importantly, many of them are not even trying to replace Bitcoin.
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Coins Alternatives to Bitcoin - Key Points
Bitcoin is the flagship cryptocurrency. But let that not stop you from investing in emerging crypto protocols with a promising future.
Here’s a quick summary of the top 10 cryptocurrencies other than Bitcoin.
- Many altcoins have improved on the limitations of Bitcoin to build better, faster, and sustainable cryptocurrencies.
- Ethereum is the biggest rival to Bitcoin currently. The network’s high-end technology and programmability allow users access to various DeFi apps, NFT, and various decentralized applications.
- Thanks to its global popularity and acceptance, Ripple is also likely to take over Bitcoin as the largest and most popular crypto asset.
- With a passionate team of devs, Cardano is already breaking barriers in blockchain technology and is only likely to grow further in terms of acceptance and adoption.
- All in all, altcoins have generated massive returns over the past few months, making now a very exciting time to invest in cryptocurrencies other than Bitcoin.
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