Though Bitcoin commands a considerable market segment, several Altcoins are already posing serious competition. Since the advent of digital currency in 2009, over 5000 Altcoins have already flooded the World of crypto. So which are the most promising cryptocurrencies besides Bitcoin? Let us take a look at some of the new crypto unicorns worth your attention. Visit the Immediate Edge bot if you want to try bots in bitcoin trading.
Ethereum
Ethereum is ultimately one of the most promising digital currencies in the World of crypto. Since it was introduced into the crypto market in 2015, Ethereum has emerged as a key contender for the top spot in the World of crypto. Besides operating as a digital currency, the decentralized network provides infrastructure for developers to build smart contracts and DApps.
From the beginning of 2021, ether has hit a record high of $1700, increasing by 129%. The scalability of ethereum and other new crypto currencies make them appealing for investors. Unlike BTC and other altcoins, ethereum scores better in terms of scalability and technology.
While BTC transactions take minutes, ethereum transactions take seconds. The ability to support fast transactions gives ethereum an edge over other key competitors.
Litecoin
Introduced into the altcoin market in 2011.litecoin is the first altcoin that ever hit the crypto market. The unique aspect of litecoin is that it optimizes fast transactions and easier block generation. Developers who introduced Litecoin into the crypto market aimed to support a fast mode of payment for business entities.
What ranks Litecoin as the most promising crypto is that it comes with a P2P network that supports fast transactions than Bitcoin. Since 2020 the World of crypto has attracted many investors around the World. With the broadening crypto market, investors are likely to invest in the most promising digital currencies in 2021.
Ripple XRP
Ripple strives to become a standard mode of payment. The blockchain-based cryptocurrency platform supports international, cross-border, and regional transfers of fiat currencies with more efficiency.
Since Ripple was introduced into the World of crypto in 2012, it has stamped its authority in the crypto market, with banks and other financial institutions accepting it as a mode of payment.
So far, the XRP commands a market capitalization of 12.7 billion dollars with 43 billion coins in circulation Worldwide. Experts believe it’s a perfect alternative to Bitcoin since it has gained acceptance in many financial institutions Worldwide.
ChainLink Link
Chain Link controls a market capitalization of $911 million and 350 million links already in circulation. The decentralized digital currency focuses on the connection between smart contracts and the real world.
The cryptocurrency aims to bridge the gap between applications, blockchain networks, payment services, and other payment modes. This is because it feeds smart contracts with important information that it requires.
Binance Coin
Introduced into the crypto market in 2017, Binance coin works as a utility token used for paying commissions on transactions made on the Binance exchange. The digital currency commands a market capitalization of $3 Billion with a total of $155.5 million coins already in circulation.
Furthermore, the main role of the Binance token is to act as a mode of payment on the Behance network. Besides being traded with fiat and digital currencies, Binance coin aims to improve operations on the Binance exchange. It facilitates fees charged on listings, crypto exchanges, trading, and other fees charged on the Behance network.
Final Thoughts
As demand for cryptocurrency surges Worldwide, many other digital currencies are coming up at flight speed. This offers perfect alternatives to investors who may be interested in other digital currencies rather than Bitcoin.
In that regard, the digital currencies enlisted in this article are not only popular but already gaining momentum in the Bitcoin or crypto ecosystem at broader level. All you need to consider is the type that comes with features that suit your investment needs.