Everyone is saying that bitcoin is a bubble as it started to fall steeply. If you see its chart, you will see that there are always steep falls after sharp rises. In spite of that, Bitcoins no more look like a very safe bet especially when you compare its price with some of the other cryptocurrencies available in the market. If you are looking to invest in cryptocurrencies and wondering whether to go for bitcoins or not, here are some bitcoin alternatives you can look for. This is not a recommendation but just for information.
1. Litecoin (LTC)
You can trade in Litecoin on all leading platforms that offer a trading platform for bitcoin. It is literally becoming the most favourite cryptocurrency among traders because of its low price point. In the last 12 months, it has given 6,000% return. It is also called the silver of cryptocurrency if bitcoin is considered as the gold. It is a better alternative with a long sustainability because there are only 21 million bitcoins while litecoin’s limit is 84 million which is 4 times higher than bitcoins. It has been created by a former Google employee and hence, there is no anonymity of the product.
2. Monero (XMR)
It is just like bitcoin but has more to offer. It is considered to be more secure than bitcoin. It is also created by some anonymous person or group. The transactions are absolutely untraceable and no one will know who is the sender, receiver, or the transaction amount. That is why during ransomware attack, hackers asked for money to be paid in Monero. The product has been endorsed by multiple celebrities and musicians are using it and also offering discounts on different products purchased with it. This could be the next big thing.
If bitcoin has been the year of breaking out of Bitcoins, then the name of Ripple comes next. It is the second largest cryptocurrency and it gave a return of 41,000% in 2017. The reason for the rise of Ripple is due to the announcement of the international banks that they will do a trial with Ripple for payments. it is described as the cross between western union and currency exchange and hence, it has high future potential.
4. Bitcoin Cash(BCH)
Bitcoin cash could well replace Bitcoin in the coming years because it is a part of bitcoin. Bitcoin cash has been created in August 2017 to size up payments of bitcoin. It is considered to be a safe bitcoin alternative and is currently the fourth largest cryptocurrency in the world. In a matter of few months, it has started giving huge returns.
Apart from that, Ethereum, Cardano, iOtaare some other Bitcoin alternatives.