Here are 10 bitcoin alternatives that have held on throughout steep price climbs and plunges
Bitcoin is a synonym for cryptocurrency. It is single-handedly leading the pack of cryptocurrencies in terms of popularity and market capitalization. But there are many Bitcoin alternatives like Ethereum, Ripple, Litecoin, Cardano, Binance Coin, and more that can be strong options for diversifying your crypto portfolio. In the ocean of 20,000+ cryptocurrencies, let’s check out the top 10 Bitcoin alternatives you must consider before your next investment:
Ethereum
Ethereum is Bitcoin’s largest competitor. Being the second largest cryptocurrency by market capitalization, it’s also the biggest platform for decentralized applications. The applications on Ethereum are run on ether, its platform-specific cryptographic token. Bitcoin is primarily a store of value and medium of exchange; Ethereum is seen as a general-purpose blockchain.
Bitcoin Cash
Bitcoin Cash has marked a milestone as one of the first altcoins that emerged and successfully traded off from bitcoin. The cryptocurrency emerged as a solution to the unsettling issues between bitcoin developers and miners. Bitcoin Cash got split from bitcoin’s chain and created its own path towards adoption and growing market capitalization.
Shiba Inu
Shiba Inu is one of the most popular meme coins with a large and active community. Being a deflationary cryptocurrency, it can be good for long-term value growth. At present, Shiba Inu is trading at $0.00001212, with a 24-hour trading volume of $389,319,671.
Dogecoin
Often called a ‘meme coin,’ dogecoin is the first cryptocurrency that came out from the Shiba Inu joke that trended on the internet years back. After maintaining a low profile for many since its inception in 2013, dogecoin showed its potential in 2020 when it was accepted as a payment model among sports teams and entered the AMC theaters.
Solana
Soaring by more than 11,000% throughout 2021, Solana created history. Although it is trading below its all-time high of $260 in 2022, Solana has outperformed the majority of other cryptocurrencies, which makes it one of the top 10 Bitcoin alternatives.
Tether
Tehter is born out as the brainchild of people who thought that the cryptocurrency market was very volatile and unsettling. As the foremost stable coin, the tether is pegged to the US dollar and experiences fewer fluctuations compared to bitcoin. This alone makes the cryptocurrency the best alternative for bitcoin.
Ripple
Ripple Network is a network that has been developed to provide quick and secure transactions to banks, especially by using blockchain technology. The Ripple system scores better than the bitcoin network for its lower processing times and lower transaction charges.
Binance Coin
BNB is the cryptocurrency promoted by Binance Coin exchange. Unlike bitcoin that just acts as a cryptocurrency, Binance Coin is both a virtual token and a crypto exchange platform that could pump up value based on its market performance. Besides, the platform also incentivizes users with BNB coins over transactions, enhancing the circulation of the token as much as possible.
Cardano
Cardano is one of the most fundamentally strong and best Bitcoin alternatives in the market today. With low transaction fees and continued developments in Cardano’s ecosystem, the coin does have an advantage over both Bitcoin and Ethereum.
Litecoin
Referred as the ‘silver to bitcoin’s gold,’ Litecoin was launched in 2011 with much of its functionalities similar to bitcoin. Litecoin was created by an MIT graduate and former Google engineer, Charlie Lee. With an open-source global payment network, Litecoin can add faster blocks compared to bitcoin, which contributes to its faster transaction time.
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