The most widely used cryptocurrency at the moment is bitcoin. However, despite its immense popularity, there are a lot of drawbacks. For starters, it’s illegal in many nations, and secondly, utilising bitcoin can occasionally come with very expensive transaction costs. Additionally, many investors find it challenging to invest in the trading market as BTC approaches the $48,500 threshold. Fortunately, there are many opportunities to invest in blockchain thanks to the approximately 8,000 cryptocurrencies that will be in use as of December 2021. If you’re seeking for Bitcoin alternatives that still provide everything you need but don’t have any of the issues described above, take a look at our comprehensive list.
Ethereum (ETH) (ETH)
According to Coinmarketcap, Ethereum is the second-largest cryptocurrency with a market cap of $19.16 billion and an average daily trading volume of $476.53 billion. Because it offers smart contracts, which enable the development of Ethereum apps and Initial Coin Offerings (ICOs) on the Ethereum blockchain, it is also seen as Bitcoin’s main opponent. The total quantity of Ethereum, which was developed by Vitalik Buterin in 2013 and released in 2015, is estimated to be around 105 million tokens. Ethereum’s price reached a high of $1400 in January 2018, however it has subsequently fallen along with the price of other cryptocurrencies. By December 2021, it had accelerated significantly. In comparison to BTC, ETH offers smart contracts that enable more complicated transactions.
Coin Binance (BNB)
A cryptocurrency called Binance Coin (BNB) is used to pay the fees imposed by the Binance Exchange. According to capitalization, it is the third-largest cryptocurrency. Purchase costs may be reduced for those who use the token as a method of payment for the exchange. The cryptocurrency that drives Binance’s decentralised exchange is called Binance Coin, or simply “BNB.” Changpeng Zhao founded the Binance Exchange, which ranks among the top exchanges in terms of trade volume. Initially, Binance Coin was an Ethereum blockchain-based ERC-20 coin. In the end, it had a mainnet launch of its own. There is a PoS consensus technique used in the network. As of November 2021, the market value of Binance Coin was $91.5 billion, with one BNB being worth $545.
Litecoin (LTC) (LTC)
Litecoin is now the sixth largest cryptocurrency by market capitalization, valued at $10.5 billion, with an average daily trading volume of $1.5 billion. It was forked from Bitcoin in 2011 by Charlie Lee. Although it differs in a few ways from bitcoin, Litecoin is extremely similar to it in that it is likewise a peer-to-peer digital money. On the Litecoin network, transactions happen far more quickly than on the Bitcoin blockchain. Literally, the difference between Litecoin and Bitcoin is around two and a half minutes as opposed to ten minutes. There are only 69 million coins available in all. Since Litecoin’s price reached its high of $152 in December 2021, it is still an excellent choice for microtrading.
NEO
Da Hongfei and Erik Zhang founded NEO in 2014 as a decentralised, open-source blockchain platform that enables the creation of digital assets and smart contracts. With a market valuation of $1.8 billion and an average daily trading volume of $207 million, it is currently the 68th largest cryptocurrency by market capitalization. NEO is one of the most widely used cryptocurrencies among users because it, like Litecoin, provides quick transaction times. Additionally, New is far more functional than Litecoin, which is why it is so beneficial to businesses and investors wishing to exchange or hold tokens or currencies based on pricing. Like Bitcoin, it also doesn’t have an overall supply cap; instead, there will only ever be 70 million NEO created. Neo will cost $26.21 in December 2021.
Cardano (ADA) (ADA)
In order to transform the way cryptocurrencies are created and developed, the Cardano project was launched in 2015. The blockchain network’s network of transactions is powered by the ADA coin. With a market worth of $42 billion and an average daily trading volume of $1.3 billion, it is now the sixth-largest cryptocurrency by market capitalization. Cardano stands out from the other cryptocurrencies on this list because it isn’t just a digital currency but also a platform for decentralised computing that enables the creation of smart contracts and decentralised applications (dApps). The price ($1.26) of Cardano, which is well within the reach of novice investors, is one of the nicest aspects of investing in it.
Stellar (XLM) (XLM)
Jed McCaleb and Joyce Kim founded Stellar in 2014 as a decentralised, open-source payment network that enables the sending of funds in any currency to anyone in the world. The blockchain network’s network of transactions is powered by the XLM cryptocurrency. With a market valuation of $6.4 billion and an average daily trading volume of $698 million, it is now the 26th largest cryptocurrency. It has a maximum XLM supply of more than $50 billion. Since XLM is currently trading at $0.26, it is a solid alternative for new comers to the cryptocurrency trading arena.
EOS
Block.one’s next project, EOS, has been under development since 2017; its initial coin offering (ICO) was held at the end of June of that same year. EOS, a cryptocurrency with a market cap of $3.2 billion, powers transactions on the EOS blockchain network. Despite only going live a little over four months ago, the daily volume is $1.15 million. Most individual investors haven’t really seen EOS much up until now, but that should change this year as they start extensively marketing and publicising their initiatives. Early in 2019, the price made some significant gains, so it’s probably only a matter of time before mainstream media picks up on the story.
TRON (TRX) (TRX)
Tron is a Block.one project, much like EOS, and has been under development since early 2017. You will be able to exchange your current ERC20 tokens for freshly created ones once the mainnet debuts this summer. It was initially issued as an ERC20 token on Ethereum. Tronix is the name of the cryptocurrency used to fuel transactions on the TRON blockchain network (TRX). With a $101 billion total supply in circulation, there will only ever be $7.9 billion TRX produced. Its price as of December 2021 is $0.02.
Polkadot
A unique PoS cryptocurrency called Polkadot (DOT) enables communication between several blockchains. Its protocol combines oracles and private and public blockchain networks, enabling systems to work together in a single environment. A key element that enables cross-network compatibility between many networks is the relay chain at Polkadot’s core. With Ethereum, developers can also establish new blockchains, but because they must develop their own security systems, this leaves smaller projects open to assault. The fundamental founder of the Ethereum project, Gavin Wood, has conflicting visions for the project’s future. One DOT trades for $25 as of December 2021, and Polkadot has a market cap of about $25 billion.
Dogecoin
From Portland, Oregon, Billy Markus invented dogecoin in 2013. The business is based on the well-known Shibe meme, which depicts a person who is incredibly startled or extremely happy. On Reddit’s Dogecoin Subreddit, where many people are actively conversing with one another about this new cryptocurrency, this virtual money became highly well-known. Bter and Cryptsy are two popular exchanges for cryptocurrencies. Additionally, you can mine Dogecoins with conventional computer parts like CPUs and GPUs. However, you should be aware that due to its increased popularity, mining is no longer as profitable as it once was. As a result, you should trade or purchase Dogecoins instead.
