Top 10 Most Important Cryptocurrencies Other Than 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.
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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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 besides bitcoin.
The 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, ranking second after Bitcoin in terms of market cap.
With a market cap of $69,604,579,809 and a 24-hour trading volume of $26,493,964,879, it’s no wonder that many investors see Ethereum as one of the most important cryptocurrencies besides Bitcoin and a great long-term investment.
It’s clear that Ethereum has got the edge in terms of technology, as well as some impressive support from industry-leading companies.
Here we should note that Ethereum was created in 2015 not only to serve as digital cash but as a decentralised platform that can support decentralised apps (dApps) and smart contracts. The Ethereum blockchain can be used to create new tokens and launch decentralised finance (DeFi) projects as well.
No surprise that, as stated above, Ethereum has gained the support of major financial organisations. That’s right! Ethereum supports Amazon Web Services, Microsoft Azure, and even helped launch JP Morgan's digital coin.
Not only that, but Ethereum’s biggest fans believe that the network will form the basis of a new, decentralised Internet that will revolutionise social media, the finance industry, and data protection. In fact, Ethereum has already transformed the gaming industry. We all remember one of the first blockchain-based games Crypto Kitties, right?!
Whether you decide to trade ETH or invest in Ethereum in the long-term, you’ll be happy to know that according to some price predictions Ethereum might enjoy steady growth in the next few years.
Actually, many believe that the launch of Ethereum 2.0, which will focus on staking, might become a huge bullish factor in the future of this important cryptocurrency. Ethereum is an excellent option for first-time investors.
Ready to invest in ETH?
2. Litecoin (LTC)
Often referred to as the silver to Bitcoin's gold, Litecoin is definitely one of the most important cryptocurrencies to consider other than Bitcoin.
As a matter of fact, Litecoin is one of the more established players within the crypto space. Created in 2011 by an MIT graduate and former Google engineer called Charlie Lee, Litecoin is a decentralised рееr-tо-рееr сrурtосurrеnсу аnd open-ѕоurсе software.
It's technically very similar to Bitcoin as it enables cross-border payments and serves as digital cash.
That said, Litecoin has four times faster processing times than Bitcoin and is not that resource-intensive, which makes transaction fees lower.
On top of that, Litecoin’s algorithm Scrypt is more appealing to miners than Bitcoin’s SHA-256 algorithm, which is also a factor that can impact investments.
Though the buzz around Litecoin has decreased significantly over the years, the truth is that Litecoin is one of the most widely accepted cryptocurrencies in the financial sector and is here to stay.
So, do you think that Litecoin is a good investment?
3. Bitcoin Cash (BCH)
Bitcoin Cash is no doubt one of the top 10 coins to consider other than Bitcoin.
In fact, Bitcoin Cash is one of the most popular forks of Bitcoin created in 2017 in order to resolve Bitcoin’s scalability issues, issues triggered by Bitcoin’s own popularity.
If you are new to the crypto space, don’t forget that forking refers to any fundamental changes to a blockchain network’s protocol.
And if you, crypto aficionado, wonder what’s in a name, then don’t forget that though Bitcoin Cash has some branding issues, Bitcoin Cash has a very important distinction from Bitcoin. Bitcoin Cash has introduced 8 times larger blocks, which were further increased to 32 MB.
As we know, larger blocks allow more transactions to be processed, which as a result leads to lower fees and faster processing times.
Moreover, Bitcoin Cash unites the supporters of the original vision of Bitcoin as digital cash. Bitcoin Cash is accepted by more than 5,000 locations globally and can also be used for online payments and purchases.
Its uses don’t stop here! Bitcoin Cash enables donations for popular platforms like WordPress and Point of Sale (PoS) solutions for organisations.
And as its most popular proponent Roger Ver – the Bitcoin Jesus – tweeted: “Bitcoin may replace gold. Bitcoin Cash may replace fiat.”
Thus, with a market cap of $8,040,705,458, Bitcoin Cash is a popular asset among crypto day traders and investors. In fact, the price of Bitcoin Cash has jumped by over 200% compared to its lowest level in 2020 and may soon move above the psychological level of $500.
According to some optimistic predictions, BCH might reach $700 by July 2021.
4. Ripple (XRP)
Ranking #3 by market cap, there’s no doubt that Ripple is one of the leading cryptocurrencies other than Bitcoin.
Ripple is a crypto and a network at the same time, which is used to move money around the globe without the need for third parties. In fact, Ripple is one of the most widely utilised cryptocurrencies for the execution of cross-border payments.
With fast processing times of about 3-5 seconds and low transaction fees, Ripple is one of the main competitors of the current SWIFT system used by central banks and major financial institutions.
The great news is that Ripple is employed by more than 100 financial institutions across 40 countries; and according to some sources, giants such as VISA and Western Union could soon also accept Ripple.
Ripple’s native currency XRP (with a currency finite number of 100 billion), is trading at $0.617. Note that unlike most other cryptocurrencies, Ripple doesn’t need to be mined.
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 $0.70 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.
Well worth a punt!
5. Cardano (ADA)
If you are looking for a unique cryptocurrency to invest in this year, then put Cardano on your watchlist.
Cardano is the first peer-reviewed blockchain-based platform that aims to improve issues, such as scalability, interoperability, and crypto mass adoption.
The platform’s development was started in 2015 by Jeremy Wood and Charles Hoskinson who actually worked on the Ethereum ecosystem. The actual platform, named after mathematician Gerolamo Cardano, was released in 2017.
Because of its solid research foundations, Cardano combines a variety of tech innovations. No surprise that during its Initial Coin Offering, the team managed to raise $63 million.
Its two-layered network, for instance, is one of the features that make Cardano stand out. Note that the Cardano Settlement Layer (CSL) can be used to settle payments and transactions, while the Control Layer can be used for smart contracts deployment.
Cardano’s moving force is Ouroboros. No, not the ancient dragon biting its tail, but its algorithm! Ouroboros uses a proof-of-stake protocol that is less energy-consuming and more democratic.
Here we should note that unlike proof-of-work (PoW) models that require miners to solve complex puzzles based on how powerful their devices are, proof-of-stake (PoS) models rely on randomisation and how much users have staked.
With numerous advantages over other cryptos, Cardano is often referred to as a third-generation cryptocurrency. Many experts believe that Cardano may overtake giants, such as Bitcoin and Ethereum, a first-generation crypto and a second-generation crypto, respectively.
We should note that Cardano’s native coin ADA is named after mathematician Ada Lovelace. ADA hit all-time highs in January 2018 when it reached $1.22 per coin.
Many experts believe that ADA will keep going up. According to Capital, for instance, ADA will be trading at $1 this year.
Do you think Cardano is worth considering?
6. Dash (DASH)
Dash is another cryptocurrency worth considering. Dash is described as a cryptocurrency that “gives you the freedom to move your money any way you want. Grab a coffee, split a check, or pay your phone bill. Dash moves money anywhere, to anyone, instantly, for less than a cent.”
On top of that, according to its white paper, Dash aims to improve upon Bitcoin by working towards improving speed and privacy.
We should note that Dash was launched in 2014 as a fork of Litecoin. Yet, Dash managed to separate itself and grow by incorporating features, such as a two-tier network with incentivised nodes and decentralised project governance.
Interestingly, Dash was originally called XCoin, which was changed to Darkcoin. However, to keep its image positive and unrelated to the Dark Web, the coin was renamed to Dash, from “digital” and “cash.”
That’s not so surprising because, as we know, some cryptos have been used to execute illicit operations and fuel the Silk Road, which was shut down in 2013.
Though Dash is currently not among the Top 10 cryptos listed on CoinMarketCap (in terms of market cap), many day traders, investors, and blockchain enthusiasts find Dash highly impressive.
Its unique architecture that relies on a network of masternodes is a major magnetic force. Its architecture also facilitates features, such as PrivateSend and Chainlock.
In 2020, Dash Core Group said that their goals are to keep improving its ecosystem, user experience, and branding even further.
No surprise that DASH opened 2021 on a positive note. Many experts believe that it will continue trending upward. According to CoinSwitch, for instance, Dash’s price may even increase to $950 in 2021 and may reach $2,822 by the end of 2025.
Would you considering Dash?
7. Binance Coin (BNB)
If you are looking for other important cryptocurrencies besides Bitcoin, then consider Binance Coin. Binance Coin is the token of the Binance exchange - one of the biggest cryptocurrency exchanges in the world.
Binance Coin lets users trade all types of crypto quickly and securely. Also, it can be used to pay for Binance exchange transaction fees. Interestingly, users who pay for transaction fees in Binance coin are then eligible for a rebate after 5 years on the platform.
It’s worth mentioning that Binance Coin was launched in 2017. Coins were originally issued as ERC-20 tokens on the Ethereum network, but in 2019 they were moved to the Binance Chain mainnet.
Note that the Binance Blockchain uses the Byzantine Fault Tolerance (BFT) consensus mechanism, which means BNB can’t be mined. Binance Coin has a circulating supply of 144,406,561 BNB coins and a max supply of 176,406,561 BNB.
Binance Coin has a market cap of $4,644,364,612 and a 24-hour trading volume of $711,002,309.
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.
NEO is another coin you should be watching. NEO, formerly called Antshares, was founded by computer programmers Da Hongfei and Erik Zhan in 2014.
Often referred to as China's 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.
Perhaps the main factor that attracts investors from all over Asia is the fact that NEO has a major competitive advantage in the Chinese crypto market: NEO was particularly designed to pass China's strict financial regulations.
Let’s not forget that Chinese authorities have already banned Bitcoin, initial coin offerings (ICOs), and cryptocurrency exchanges.
Not only that but NEO is impressively agile and can process up to 10,000 transactions per second.
NEO enables two tokens: NEO and GAS, both capped at 100 million tokens. One NEO is trading at $19.29 at the time of writing.
Have you ever considered trading NEO?
9. Tezos (XTZ)
Tezos is 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.
Tezos is among the top 10 most important cryptos for a reason. Tezos is a decentralised blockchain technology that was proposed in 2014 by Arthur and Kathleen Breitman and launched in 2018 after a successful ICO, which sadly was followed by numerous legal feuds.
Like Ethereum, Tezos was designed to facilitate peer-to-peer transactions, smart contracts, and DeFi projects.
However, Tezos takes the idea of smart contracts one step further by allowing users to control the rules of the network directly without forking the protocol.
Users can be active participants in the network’s governance through a process known as baking. This flexibility makes Tezos a continually evolving system, which means it's well-positioned to respond to any future demands.
It was at the beginning of 2020 when Tezos reached an all-time high, leading to renewed interest in its potential investment value. According to some predictions, Tezos has a positive future and may reach $20 per coin in the next five years (as per Coinpedia)
10. IOTA (MIOTA)
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).
For those interested in its impressive technicalities, IOTA uses a directed acyclic graph (DAG) called Tangle. Tangle can actually improve scalability – a problem Bitcoin keeps struggling with.
IOTA was founded in 2015 as a crypto that can become the backbone of the IoT ecosystem. As we know, there are tonnes of devices that are connected through sensors and other technologies to the Internet; and all these devices generate and exchange valuable data.
IOTA can also be used for the execution of micropayments without excessive fees. Why? Because there are no miners but almost infinity scaling instead.
No wonder that many big companies, such as Bosch and Volkswagen, show interest in the platform and its utility among devices connected to the IoT.
This distributed ledger uses a crypto called MIOTA. At the time of writing, MIOTA has a market cap of $1,187,496,232 and keeps showing signs of improvement.
According to TradingBeasts, MIOTA will reach $0.50 in 2021 and $0.62 in 2022, which is an alluring growth for investors. DigitalCoinPrice, on the other hand, suggests that MIOTA will reach $1.34 in the next few years.
Top Cryptocurrency Alternatives to Bitcoin: Summary
There’s no doubt that Bitcoin is still the trendsetter in the crypto sector. Despite the vast number of new digital currencies, Bitcoin will continue to dominate the crypto sphere for a long time to come.
Yet, 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.
Instead, they were designed for different purposes to help crypto go more mainstream. And the ones that manage to achieve this goal are likely to be fruitful long-term investments.
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Coins Alternatives to Bitcoin - Key Points
While Bitcoin is still king in the cryptocurrency world, there are a number of others on the rise that investors may want to look at.
When it comes to the top 10 most important cryptocurrencies other than Bitcoin, try and remember the following points:
- Most Bitcoin alternatives offer something very different from Bitcoin, including technology, privacy, and scalability.
- Ethereum is perhaps Bitcoin's biggest rival. It has advanced technology that focuses not only on transactions but on smart contracts and dApps. As such, Ethereum has high use-value and is backed by some of the biggest financial companies in the world.
- Since it’s accepted by major financial institutions, Ripple also has the potential to rise like Bitcoin. Though it's really cheap compared to Bitcoin, experts predict its growth in the next 5-10 years.
- Litecoin is perhaps the most similar cryptocurrency to Bitcoin. Yet, Litecoin is faster and a lot cheaper, which makes Litecoin an excellent starting point if you're looking for an alternative to Bitcoin to invest in.
- In the end, crypto investing is not a winner-take-all game. There are lots of cryptos with the potential to gain value, including Monero, NEO, and Chainlink, so you don't have to gamble on one single coin to win.
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 alternative cryptocurrencies would you consider to invest in?