Cryptocurrency Investment | Top 5 Bitcoin Alternatives in 2018

You might have heard about Cryptocurrency and Bitcoin by now. As you know, Bitcoin is the first decentralized digital currency, a worldwide transaction system without the need for middlemen and banks. According to Wikipedia, It was invented in 2009 by Satoshi Nakamoto and it has since popularized and become mainstream around the year of 2015.

Last year, Bitcoin reached the all-time high of $20,000 before the price plummeted drastically at the beginning of 2018. Even though Bitcoin still remains as the most expensive cryptocurrency, there’s still no telling where it will go next. As of today, Bitcoin market cap is $163,939,281,116 while its price is $9,708.06 per BTC

Now, before I tell you my top 5 bitcoin alternatives, please do your own research if you intend to invest. With a massive amount of cryptocurrencies out there, knowing which one worth investing or buying is not easy. With that said, Here are MY TOP 5 BITCOIN ALTERNATIVES.

1. Ethereum

Market Capitalization: $83,548,122,704
Price: $853.85

                                                             Source: coinmarketcap.com

Ethereum (ETH) has received enormous popularity since it was first introduced by Vitalik Buterin in 2014. Now, Ethereum is ranked second in terms of market cap, right after Bitcoin.

Both ether and bitcoin operate on Blockchain and both have been used to invest in ICO tokens and as digital currencies. However, unlike Bitcoin which is created as an alternative to fiat, Ethereum allows programmers to create and deploy Decentralized Platform (DApps) on top of it.

2. Bitcoin Cash

Market Capitalization: $21,331,602,040
Price: $1,255.45

                                                      Source: coinmarketcap.com

Bitcoin Cash is a hard fork of Bitcoin. It was created by developers in 2017 out of their concerns on Bitcoin’s ability to scale effectively.

Bitcoin can only process around 7 transactions per second with each needs to be verified in 10 minutes. The waiting time increases as there are more users in Bitcoin network. They need to wait hours and even days for their transactions to be confirmed. This problem resulted in the hard fork, Bitcoin Cash.

The advantage Bitcoin Cash has over Bitcoin is that it increases the size of blocks, enables more transactions to be processed, which means faster transactions. Bitcoin Cash has 8 MB block size in comparison to Bitcoin limit of 1 MB of data per block.

3. Litecoin

Market Capitalization: $12,134,478,274
Price: $219.04

                                                                   Source: coinmarketcap.com

Litecoin is a peer-to-peer internet currency that enables instant, near-zero cost payments to anyone in the world. Launched in 2011 by Charlie Lee, Litecoin is intended to be a “silver to the Bitcoin gold”.

As a matter of fact, Litecoin was developed with the aim to improve on Bitcoin’s shortcomings. Litecoin’s transactions are faster and it produces more coins compare to Bitcoin. You can read my short article about the differences of Litecoin and Bitcoin here.

4. NEO

Market Capitalization: $12,134,478,274
Price: $219.04

                                                              Source: coinmarketcap.com

Based in China, NEO was originally launched in 2014 by Da HongFei. As a blockchain platform and cryptocurrency, NEO is very similar to Ethereum; it enables the development of digital assets and smart contracts.

However, unlike Ethereum’s smart contracts — which can only be written in a select few of newly designed programming languages, e.g., Solidity — NEO’s can be written in a wide range of popular ones. One of the top reasons why I include NEO as one of my Bitcoin alternatives is that NEO claims to be able to handle over 1,000 transactions per second with the goal of optimizing to over 10,000 transactions per second. Currently, Ethereum can process around 15 transactions per second. Apart from those, NEO also gives dividend (GAS) to its holders, it is a sweet deal for long-term investors.

5. Monero

Market Capitalization: $12,134,478,274 
Price: $219.04

                                                            Source: coinmarketcap.com

Created in 2014, Monero is an open-source cryptocurrency that focuses on absolute anonymity for users.

Despite the fact that Monero uses public ledger to record transactions, every detail of them will be untraceable, from senders and receivers to the size of their transactions.

One of the unique characteristics of Monero is that it handles transactions by splitting the amount transferred into multiple amounts, and treating each splitted amount as a separate transaction. Each of these splitted amounts are mixed in with other transactions which of course, have also been split, making it extremely difficult to identify the exact mix of the original transaction that belongs to the recipient.

Alright, those were my top 5 Bitcoin alternatives!
Let me remind you again that you absolutely need to do your own research before investing in any of these coins. Feel free to comment and give me any suggestions!


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