Bitcoin is the most popular cryptocurrency out there. However, there are many reasons why you should not invest in it. Instead, check out these five Bitcoin substitutes that you should consider investing in.
#1 Ethereum
The computer game industry is one of the largest industries in the world, with games being developed for consoles, personal computers, tablets, and even phones. Almost any major platform from the past ten years has a game associated with it. While there are fewer and fewer Blockbusters around every year, there are still millions of people out there who play those games.
A few years ago, a new kind of game was invented. Ethereum is a form of digital currency that runs an online network that allows people to trade goods and services without middlemen such as banks. These networks allow users to build applications on top of them. That makes things like E-commerce possible without third-party verification (which also means you don’t have to pay bank fees). That makes it much easier for startups to startup because they don’t need a large financial backing.
The technology behind Ethereum is what differentiates it from other cryptocurrencies such as Bitcoin. It uses Smart Contracts which allow us to make sure that transactions happen when they are supposed to do so and not when we want something else done (through a middleman).
#2 Cardano (ADA)
Cardano is a proof-of-stake cryptocurrency that aims to decentralize the internet.
Cardano is the first cryptocurrency to be built on top of Haskell, a programming language that has been around since 1990. This makes it an attractive cryptocurrency for professional developers and banks to build applications on. Ethereum, by comparison, uses Solidity — which is similar to Javascript — as its base language.
In addition to being highly secure and decentralized, Cardano also aims to solve some of the problems that have plagued Ethereum over time. For example, Ethereum’s smart contracts can be halted if enough miners vote against them.
Now we are going to tell you what Polkadot is, how to buy DOT, and why you should buy DOT.
#3 Polkadot (DOT)
What is DOT? Polkadot (DOT) is a blockchain-based technology that aims to unite many blockchains into one giant network. It is the first and only interoperable protocol to connect dissimilar chains, meaning it brings together blockchains with requirements and functionalities. That would allow for even more creativity in building new blockchain networks and allows limitless expansion of public or private data collections.
DOT was founded by Gavin Wood, co-founder of Ethereum, in 2016. While he created Ethereum in 2013 from his idea for a protocol that could execute Turing complete code on a blockchain, Gavin Wood later created what would become Polkadot after seeing the scalability problems with Ethereum and its limited ability to interact with other blockchains.
Once Polkadot was released onto the market on August 18th, 2020, it shot up to its all-time high of over $8 per token. It reached a market cap of over $7 billion. Its current value is $4 per token with a market cap of around $3 billion.
With such high growth potential already achieved just two months after launch, DOT has shown itself to be an investment you should consider partaking in if you want your portfolio to grow exponentially.
#4 Chainlink (LINK)
A word of warning: it is unlikely that Chainlink will supplant Bitcoin as the top cryptocurrency. While Bitcoin has endured a rough 2018, it is still the most widely used cryptocurrency. However, if looking for a highly speculative asset whose return could potentially be multiples of your investment, Chainlink is an excellent option (as evidenced by its recent performance).
#5 Binance Coin (BNB)
The name Binance is a combined form of binary and finance. As of now, it is the biggest cryptocurrency exchange in the world in terms of trading volume.
BNB was established during its ICO event in July 2017. It was issued on the Ethereum blockchain with the ERC20 standard. Later, they developed a native blockchain platform called Binance Chain and launched its main net in April 2019. And now, BNB has been ported to the new chain from the ERC20 token standard. visit here best different forex crm systems
Now that you know about these Bitcoin substitutes, it is time you start learning more about them. After that, you can decide which one you want to invest in.
