By the term “Altcoins”, we refer to all the cryptocurrencies apart from Bitcoin Cash. You will come across lots of Altcoins other than Bitcoin, and you can use them in various ways. Here, we have talked about 7 such Altcoins that should demand your attention.
Being the native cryptocurrency of Ethereum,Ether (ETH) has a market share that is almost 50% of that of Bitcoin. It is the leading one when it comes to the transaction volume. It is feasible for Ethereum to process approximately 5 times as many transactions as that of Bitcoin with the increase in the crypto transaction volume. According to many people, this Altcoin will play a vital part in the future of many industries such as finance in the upcoming days.
This cryptocurrency has been introduced in recent times only. It was introduced in 2017; so, it is not more than 5 years now. It is becoming quite well-known with the increase in popularity of Ethereum since it enables decentralized applications as well as non-blockchain transactions. The World Bank has asserted that Solana happens to be the 4th most valuable cryptocurrency on the planet right now. The good thing is that Solana does not consume much electricity, and the transaction expenses are also less compared to Bitcoin and Ethereum. Also, it creates less pollution than those two.
In addition to the other Altcoins already mentioned in this blog, Chainlink is one more high-performing cryptocurrency that has got a significant impact on the market. The Blockchain project has become much more interconnected with the real world due to these Oracles
This one happens to be the most secured and fastest network right now that has been praised by many financial institutions across the globe. In case the SWIFT process is known to you, then we like to assert that this depends on the Ripple network to a great extent. It is responsible for validating or facilitating offline and online transactions among banking institutions and other lending companies. Have you ever thought about why Ripple is preferred over other cryptocurrencies such as Bitcoin? This is due to the fact that a transaction can be made with the Ripple network at a very low cost within a few seconds only. The Ripple network is used by banking channels on an extensive scale these days since it is considered to be a legal transaction procedure.
It is a fact that Ethereum is considered to be the top Altcoin right now, but Cardano is not far behind. Developing at a rapid pace, it is providing plenty of competition to Ethereum without any doubt. With an increase in the blockchain activities of Cardano, in excess of 400 projects are being constructed on this platform right now. The characteristics of this Altcoin provide the best combinations of Bitcoin and Ethereum and it makes use of PoS mechanism instead of PoW which helps to enhance its sustainability as well.
Litecoin was founded in the year 2011 which is why it is one of the earliest altcoins. Some individuals call this Altcoin “Bitcoin Silver” and it came into the limelight when Bitcoin was exposed for the initial time to the public in 2011. It can be safely asserted that Litecoin can boast of having all the positive aspects of Bitcoin without having any of its negative sides. Litecoin has the ability to generate blocks much faster compared to Bitcoin.
7. FTX Token
It will be a sensible idea for the short-term investors to invest in this Altcoin mentioned here since it will be possible to get interest from it and fewer transaction fees will be required as well. No significant fall has been detected in this network, and it stands with a surge of 14% even when Bitcoin has suffered a loss. FTX Token happens to be the only Altcoin that has been tracked by the Bank of America.
There have been many apps on the market that will help you to trade Bitcoin and other cryptocurrencies, and one of the most popular among them happens to be the Bitcoin Era. It has already helped lots of crypto traders in the recent past.