One question you may have asked yourself for sure is if there exist options to Bitcoin. The answer is yes, however you should pay attention not to invest in the wrong crypto currency.
Bitcoin is the most known crypto currency in the world and is a payment system based upon P2P, its initial value in 2009 was of 1309 BTC for one dollar. 8 years later in 2017 one Bitcoin was worth 20.000. Beyond easy excitements crypto currencies have nowadays become solid realities and the options to Bitcoin are today estimated to be more than 1500. We will show you which ones are the most known and their differences with regards to Bitcoin.
The crypto currencies market is in many aspects similar to the stock and exchange markets. It is possible to find out the updated value of any single virtual coin on websites dedicated to the crypto currencies market. The amount of currencies circulating, the number of transactions carried out and obviously any single virtual coin growth and drop in value.
You can get all this information in real time on the website Investing.com.
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What have all crypto currencies in common?
The basic characteristics of all the crypto currencies are encryption and blockchain.
What makes all virtual coins that represent an alternative to Bitcoin safe is their encryption. Thanks to it all transactions are safe and unalterable by third parties, crypto currencies in fact are controlled by the community itself. Not by States or banking institutions.
All transactions are annotated on some kind of a logbook called Blockchain. A chain of blocks that increases with any transaction, each block containing the last transaction as well as all the previous ones.
The Bitcoin optional crypto currencies we are recommending have been chosen on the basis of parameters. Such us: their reliability, their diffusion, their capitalization and their quotation on digital currencies exchange.
Which are the main “options to Bitcoin” ?
- Ethereum, ETH is very much popular, born from the mind of a young Russian developer Vitalik Buterin, allows to be mined and to draft Dapp and smart contracts.
The applications that can be developed with Ethereum are mainly of three types: financial apps, multiuse apps and non financial apps like online voting.
- Litecoin, LTCis a crypto currency that was born in 2013 to improve some aspects of Bitcoin, in fact it is faster in processing any single block, 2,5 minutes compared to 10 minutes needed by Bitcoin, in addition to that the Litecoin network produces four times the coins produced by Bitcoin, a good 84 million units.
Conversely since it uses scripts in its algorithm LTC turns out to be very slow in mining and requires much more powerful and costly processors compared to those required by Bitcoin, so ultimately it represents one of the best options to Bitcoin.
- Ripple, XRP is essentially a safe system to transfer funds and currencies exchange, allowing very fast transactions, however it is not possible to carry out any mining activity because XRP is issued and controlled by a single company, Ripple that has already set the limit of 100 billions euro, of which 39 are already circulating.
In order to purchase and obtain Ripple currencies you must rely on authorized trading platforms.
- Stellar Lumens, XLMhas been the new entry in 2018, all transactions of this crypto currency are super fast, the coins called Lumens are currently used by many multinational companies like IBM as well as other Japan and Korean companies.
Bitcoin alternative conclusions
Stellar Lumens is a direct competitor of Ripple, and is very popular among the investors, its only limit is due to the fact that not all the exchanges allow to purchase Lumens (XLM). You could easily trade your Bitcoin or Ethereum currencies with Stellar Lumens at Binance, Poloniex, Bittrex, Kraken, Alex and BTC38.
Here you can further explore virtual coins features and functioning.
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