Alternatives to Bitcoin

Alternatives to Bitcoin: After the successful introduction of Bitcoin into the digital market, thousands of cryptocurrencies primarily meant for investment have been launched as alternatives to Bitcoin. Most of these assets have incredible acceptance rates and hardworking teams working behind the scene to offset the many weaknesses of the traditional assets. Some of these cryptocurrencies were created for fun, and have no clear roadmap to appeal to investors.

Even choosing the right cryptocurrency to invest has not been an easy task to newbies. This article will introduce readers to three potential cryptocurrencies that can take the mantle from Bitcoin to become the currencies of the future.

Dash

Dash has made an incredible impact since its inception into the cryptocurrency world. With a circulating supply of just 9 million which makes it very responsive to change, the digital asset has found itself in the Latin American financial market to become one of the most accepted digital assets in the region. Recently, it was reported that Dash has reached active wallet users of 10,000 in the region. It is true that cryptocurrencies mostly ride on the shoulders of speculation to surge in price rather than valuation, but it is also true that prices that are products of valuation last longer. Currently, Dash is available on about 700 ATMs and accepted by over 4000 merchants worldwide and supported by about 90 exchanges.

Dash is best known for its fast transaction and cheaper costs. This has made it the first choice asset for most of the people in the region behind Bitcoin. Dash has an incredible demand which will possibly hit a new level in the future. It also has a private and insta-send feature, cheaper and faster transaction than Bitcoin with promising acceptability.

Bitcoin Cash

Alternatives to Bitcoin

Image Source: www.coindesk.com

Bitcoin cash is not as old as Bitcoin, but very well designed to function better than Bitcoin. In 2017, the Bitcoin community became worried about the technical ability of Bitcoin which keeps increasing the transaction fee. As a solution, the Bitcoin cash was forked with the same Total Supply as Bitcoin. Though this digital asset has a lot of similarities with Bitcoin, it has a larger block-size that allows faster transaction coupled with cheaper fee compared to Bitcoin. Apart from that, it is easily accessible and perfectly decentralized. It has all the needed attributes of digital currency and makes it a candidate to change the face of the future digital financial system.

The high demand of the digital asset and the fast-rising adoption rate has made a number of experts and platforms to make bold predictions about its price. According to wallet investors, Bitcoin Cash would hover around $7520 in the next five years. Based on its roadmap, they also predicted that Bitcoin Cash would trade at 2363 in a year time. Another price prediction platform, Tradingbeasts, predicted that Bitcoin Cash would trade at $4037 to $5937 by the end of 2020. Bitcoin Cash has a lot of Potential and can rise to the moon sooner or later. Recently, it was reported that a lot of ATMs in Switzerland supports Bitcoin Cash, which is a huge breakthrough.

Ethereum 

Alternatives to Bitcoin

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Ethereum has always been recognized as one of the giants and the most trusted digital asset as one of the alternatives to Bitcoin. In January 2018, Ethereum recorded its all-time high price of a little over $1300. Its performance over the years is not by fluke. Recently, a popular sports brand called Animoca Brand partnered with Ethereum to launch a Formula One racing game on its public Blockchain. The Ethereum Blockchain, for instance, is quite unique compared to others. The Ethereum Blockchain is programmable. What this means is that other developers are free to use it to build other applications.

Its Blockchain is very popular among developers as many of them are building all kinds of applications including cryptocurrency wallets, financial applications that can be used to borrow, lend and invest as well as digital market that makes you trade without the interference of any third party. It also has one of the biggest cryptocurrency community in the world, made up of researchers, app developers, Eth holders, core protocol developers, and ordinary users. It has all it takes to take control of the traditional banks and the financial market with its cheaper fee and fast transactions.

Behind the above listed digital assets, there are a few other cryptocurrencies that have huge potential to make waves in the market and appear as alternatives to Bitcoin. The only setback that has affected their penetration into the real money market is their decentralized and the anonymous nature that makes them a tool in the hands of criminals to be used for money laundering.

Source: Investopedia


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