2017 has been a great year for investors in the crypto-market. We saw a tremendous growth of bitcoin after more than 8 years, its price almost topped to 20K USD, but that also limited further investments due to the sky high prices. However, bitcoin also ushered in a new wave of cryptocurrencies, which make for great investments now due to their low-value and have greater chances of growth over a period of time. These currencies inspired by bitcoin are easier to mine, and collectively called altcoins. Before trying to search where to buy bitcoin online, let us have a look at the most popular alternative cryptocurrencies for your future investments in this market:
Ethereum (ETH): Ethereum is a decentralized blockchain app platform. The cryptographic token for Ethereum is ether, and it is the world’s first block chain supercomputer which can run apps and services like DAOs, DApps, etc. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Ethereum has a market capitalization of $41.4 billion, second after bitcoin. Examples of Ethereum exchanges are Bitfinex, Coinbase, Bitstamp and Kraken.
Ripple (XRP): Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to settle cross-border payments in real time, with end-to-end transparency, and at lower costs.” It works as a great platform for banks, payment providers, and digital asset exchanges. Ripple’s market capitalization is $1.26 billion, which is much lower than other online digital assets along the lines of bitcoin; but there is much scope for its growth due to the rising demands and potential use in money exchange and transfer worldwide. Examples of Ripple exchanges are Bitfinex, Bitstamp and Kraken.
Litecoin (LTC): Litecoin is one of the first cryptocurrencies following bitcoin, and is an open-source global payment network. It has a faster block generation rate and hence offers a faster transaction confirmation. Due to its use of script as a proof-of-work algorithm, it produces 4x coins than the bitcoin network. Litecoin is one of the growing investment networks for merchants and exchanges and even individual investors. Examples of Litecoin exchanges are Binance, Bitfinex, Bitstamp and Kraken.
Dash: Dash (DASH) is an open-source p2p cryptocurrency, and brands itself as “Digital Cash”. Dash works on a decentralized master code network that makes transactions almost untraceable, and therefore offers more anonymity than the bitcoin network. It consists of additional features like InstantSend(instant transactions), PrivateSend(private transactions), and DGBB (decentralized governance). These unique features make Dash a strong competition for bitcoin and holds enormous prospects in the near future.
Zcash: Zcash is a decentralized and open-source cryptocurrency. According to Zcash itself, “if Bitcoin is like http for money, Zcash is https.” Zcash is built to secure your payment history, and has two types of addresses- transparent and private. Content can be encrypted using an advanced cryptographic technique or zero-knowledge proof construction called a zk-SNARK, which enables users to have the choice of ‘shielded’ transactions. Zcash has achieved much popularity and has a growing demand due to its privacy enhancement, just a year following its launch. This makes it another of the leading contenders for investment, following bitcoin.
While a lot of people are now becoming aware of cryptocurrencies and are showing interest to buy bitcoin online, it is becoming highly necessary to do proper research and check out all the options available before investing.