Is Bitcoin The Only Good Cryptocurrency To Invest?

Cryptocurrency has ushered dramatically in increasing popularity in the current state of the global economy. Crypto is known as the most lucrative platform to invest in that can make you filthy rich faster than traditional stock exchange investment. But the investor requires to research well before investing in cryptocurrency and know how to play with them tactfully according to its market valuation. 

Cryptocurrencies are fairly easy to buy and sell with the Bitcoin Prime platform. Moreover, the investors can also purchase online and offline assets by using their digital coins as well as for cryptocurrencies. In earlier stages, Bitcoin was the only trendsetter of cryptocurrencies and known as the most profitable crypto for exchanging with real currencies.

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However, as time goes on, there are several more cryptocurrencies introduced in the crypto market. Some of such cryptocurrencies are Litecoin, Dogecoin, Ethereum, Cardano, Binance Coin and so many more. These cryptocurrencies are also profitable enough to invest in.

Unlike the stock market, crypto trading is also uncertain. But some experienced crypto investors say that it can be extremely beneficial to steep in Bitcoin trading as it was at its peak since its arrival. According to global economy experts, crypto might run up tremendously in the future. But, what about those newcomers who have not yet pervaded Bitcoin trading and can not buy Bitcoin due to hikes at present! Moreover, there is surety whether Bitcoin will go up or down, and who knows that the other alternative cryptos won’t be more rewarding afterward?

Keeping all these possibilities in mind, here are some alternative cryptocurrencies of Bitcoin that would be great to play within the long run:

Ethereum

  • Price: $3,322
  • Market cap: $390 billion

Ethereum is the second-largest cryptocurrency after Bitcoin and also functions the same as Bitcoin does. This crypto is also known as Ether in the Crypto exchange market. The present market value of one Ether at present has surpassed 3,458 US dollars. Ethereum was first introduced in the year of 2015. Ether is popular for using widely in the blockchain after Bitcoin. After the significant contribution of Ether in the crypto exchange market, DeFi industry is focusing on using Ethereum’s related blockchain in the decentralization of smart contracts.  

Litecoin

  • Price: 225.31
  • Market cap: $15 billion 

The working nature of Litecoin is almost identical to Bitcoin, yet Litecoin is known as the game-changer. This crypto is produced in the blockchain market in 2011 and its creator name is Charlie Lee, the former engineer of Google. Litecoins’ open-source payment is never controlled by the central authority. It uses a “scrypt” to keep the record of the blockchain market and focuses on using consumer-grade CPUs to decode smart contracts.

Dogecoin

  • Price: $0.32
  • Market cap: $42 billion

There are several A-class crypto exchange investment platforms that can help tenderfoot crypto investors to understand the trading procedures of the different alternative cryptocurrencies other than Bitcoin.

USD Coin (USDC)

  • Price: $1.00
  • Market cap: $27 billion

USD Coin is a stable cryptocurrency that does not fluctuate in its value and is closely dowel to the dollar. The founders of this currency say that the coin is supported by a whole suite of reserved assets or those that have a fairly equivalent value. These assets are stored in accounts with regulatory institutions in the U.S. 

Solana (SOL)

  • Price: $72.13
  • Market cap: $21 billion

Solana was created in March 2020 and is a newly arrived currency in the crypto market. It boasts the speedy completion of transactions and the dependability of its web-scale platform. The currency issuance of Solana is capped at around four hundred and eighty million coins.

Uniswap (UNI)

  • Price: $28.91
  • Market cap: $17 billion

Uniswap crypto was launched in November 2018. It is yet another peer-to-peer decentralized platform that functions just like the Ethereum blockchain. Plus, this crypto can be utilized to exchange for other cryptocurrencies, contrary to centralized exchanges like Binance and Coinbase.

Bitcoin Cash (BCH)

  • Price: $675
  • Market cap: $13 billion

Bitcoin Cash is another Bitcoin variant established in August 2017, after Bitcoin miners didn’t give their consent to scale the system. This disagreement resulted in a change in the fundamentals of Bitcoin protocol and finally to Bitcoin Cash.

Bottomline 

Every cryptocurrency has its own success rate and failure rate accordingly. And, at times, the chances of volatility can be intense. Be it with Bitcoin investment or any other crypto. Moreover, if you are still a novice in this field, then it is better to stay prepared for being tricked by the real players of this market.

It is basically the experience and expertise you earn over time that matter. Then every crypto investment will appear more or less the same to you. 

Bradley Wood
Bradley Wood is a freelance writer who lives in Pomona, Los Angeles. He is pursuing graduation from the University of California (UC). Bradley frequently contributes his high-quality articles in Academics and Education to our site to help students in their day-to-day life.