Today, we will show you the best Bitcoin alternatives for beginners.
Bitcoin remains the ‘standard coin’ for all cryptocurrency lovers. It also has the largest market capitalization.
Its meteoric rise from ‘the days of little beginning’ to its present status as ‘the most traded cryptocurrency’ has triggered off the search for other cryptocurrencies with a promise of a meteoric rise in financial value.
In this post, we will be taking a look at some of the cryptocurrencies with forecasts of astronomical growth.
Best Bitcoin Alternatives For Beginners
1. Ripple (XRP)
The Ripple blockchain is focused on enabling interbank transactions across borders in real-time by eliminating the long five business day wait.
At less than $0.5, Ripple occupies the number three spot on the market owing to the success of its business model. It is a coin that is also considered as an environmentally friendly coin since it doesn’t require mining, hence, reducing the consumption of power on a larger scale.
2. Stellar (XLM)
Although stellar has a present financial value of less than $1, it is a promising coin with the potential to experience more than a thousandfold increase in its current monetary value for two reasons.
Firstly, transactions on Stellar’s blockchain are validated within five seconds. This is a swift transaction rate by the cryptocurrency standard. Presently, Stellar is used as an interbank payment settlement because it takes relatively less than five seconds to clear transactions. This is made possible by Stellar’s platform, which incorporates smart payment contract solutions (and other features similar to Etherum’s smart contract platform) for interbank and financial institutions.
Another reason is the Stellar’s partnership with IBM and other banks in the pacific has resulted in the increased use of Stellar’s Lumens coin, a move that might move Stellar up on the cryptocurrency ladder. Also, Stellar is currently partnering with India’s ICICI bank to create a blockchain solution to increase transaction speed and also provide a means of banking the larger unbanked population in India.
3. Cardano (ADA)
Cardano is a cryptocurrency developed by a team of Academics and Engineers with the intent of combining the best features of top cryptocurrencies into a single coin.
Although the coin has a relatively low financial value, it is nevertheless rising slowly and steadily, making it a currency with a strong hope of an astronomical rise in the future as it finds more usefulness in real-world communities.
4. VeChain Thor (VET)
VeChain Thor’s blockchain holds a promising future for its real-world application in supply chain management. Its blockchain enables manufacturers to assign unique identification numbers to products for easy tracking in a supply chain using IoT.
In addition, Vechain Thor is getting the attention it deserves with its strategic partnership with Global assurance services DNV GL, BMW, and other global market players to provide unique identifiers to track and monitor product performance.
5. Libra (LIBRA)
Although Libra is yet to launch, it is hoped that the Facebook coin will launch by October 2020. When launched, the coin has a potential of massive trading volume owing to Facebook’s popularity, which transcends all countries of the world.
The coin has a promising astronomical rise in value because Facebook will require the use of Libra as its official medium of payment for advertising and other associated services.
There you go! The best Bitcoin alternatives for beginners.
Bitcoin still maintains its top market position; however, there are several coins with low market value, but with promising futures worth investing.