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5 Alternatives To Bitcoin You Should Know About In 2021

The widespread popularity and acceptance of Bitcoin have overshadowed the future of some promising Altcoins that show a potential growth rate. Bitcoin still reigns in the cryptocurrency world, but its alternatives are powerful enough to give a tough competition because of the smaller scale investors who seem to be attracted to them. 

5 Alternatives To Bitcoin

After the launch of Bitcoin as the first cryptocurrency, new ones started coming into the market to be traded with the standard set in by their ancestor Bitcoin. The altcoins will take time to match and come up to the level of Bitcoin standing high today. But, this is only possible if they get their due importance and a fair chance to mark their presence in the market.

Therefore, to make you aware of such prospective alternatives to Bitcoin in 2021, we have come up with a list of the five most promising altcoins that can make you rich in the coming times.

5 Alternatives To Bitcoin To Know About in 2021

1.) Ethereum: 

Giving a tough fight to Bitcoin is the second most popular cryptocurrency Ethereum. Priced at $2,000 as of April 2021, Ethereum is an open-source network managed by users, just like Bitcoin. Its network uses “smart contracts” to operate, written in computer code and uploaded to the blockchain through which other cryptocurrencies function. Ethereum users can purchase products from sites that accept cryptos as a mode of payment.

Ethereum ranks in the top ten cryptocurrencies concerning stability and pricing. It is a widely accepted crypto, only expected to grow in the future. It is also second to Bitcoin in market capitalization with a share worth $200 billion. Standing at $133 on March 31, 2020, Ethereum nearly made a 14-fold rise in a year with $1,850 as of March 31, 2021. In comparison, Bitcoin during the same year could only make a 9-fold rise in its price.        

2.) Litecoin: 

Litecoin or LTC is a close resemblance to Bitcoin because the working pattern of both is the same except for a few features that make them different. Unlike Bitcoin, the founder of Litecoin, Mr. Charlie Lee, is known to the world. He designed Bitcoin's system to run at a four-time speed compared to Bitcoin’s system. This feature has helped Litecoin confirm the legitimacy of transactions more quickly. 

Once all the Bitcoins are found, it will have a limit of 21 million coins. But, Litecoin will have a limit of 84 million coins. At present, Litecoin's value is $196.29, which it reached after witnessing a 5-fold increase in its price from its last year’s price of $37.25. This makes Litecoin an affordable and less expensive cryptocurrency to buy other than Bitcoin. 

3.) Ripple: 

Ripple altcoin is the best option for investors skeptical about investing in cryptos regarding the safety of their money. XRP is the cryptocurrency in real life, and Ripple is the company with the license to manage the payments and interactions of XRP. Ripple has dodged the public blockchain to work with a network of nodes that, in reality, involves participating financial institutions and banks as well. 

Because of Ripple’s partnership with American Express, many have a solid reason to invest in this crypto as a giant credit company backs the coin. Ripple is also in discussion to welcome more large corporations and banks to strengthen security measures.

Read Also: Bitcoin ATM Fees, Limitations & Transaction Period – Best Guide    

4.) Monero: 

Monero is believed to be the only cryptocurrency that is untraceable. It works through the blockchain, much like Bitcoin, but has a policy of not sharing its investors' online address with the public ledger, which Bitcoin does not do. Its value in April 2021 was $252.25, which it could reach after seeing a more than 5-fold increase in its last year’s price of $47. 

Monero is beneficial because it exhibits the points that can go wrong when an investor attempts to have a completely anonymous cryptocurrency.

5.) Cardano: 

Created from a scientific philosophy, Cardano is the only cryptocurrency that has been designed and built by a global team consisting of renowned engineers and academics. The inventors of Cardano are trying to combine the best features of a few best cryptocurrencies, for which they have a team of scholars and scientists working on the process. 

Cardano is meant to be a more sustainable crypto than the rest, which everyone will use. With a $0.03 last year, Cardano saw a 40-fold rise in its price to reach $1.19 in April 2021, making it one of the top performers based on price performance among all the cryptocurrencies. 

Cardano is the most transparent crypto because its creators are clear and public about why they develop their cryptocurrency. And, it’s cheap too.

Final Words

The list of altcoins is not limited to the above and includes plenty of other options like Binance, Tron, Dogecoin, and many more. These alternatives to Bitcoin might not be so famous, but with the rise in the popularity of cryptocurrency, the rise of these low-lying altcoins is also guaranteed. You never know when you wake up tomorrow morning, Elon Musk might speak in favor of one of these, and the price of that coin touches the sky. 

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