When we start talking about crypto currencies then the first thing that comes under newbies mind is bitcoin. So, what is bitcoin? Bitcoin is the most popular crypto currency. The startling rise of Bitcoin in 2020 saw an increase in the value of up to 220%. Bitcoin has successfully challenged fiat currencies to become a genuine option for government agencies considering the prospect of putting government reserve funds into alternative investments.
Four Non-Bitcoin Cryptos to Watch
Savvy investors might want to consider lesser known currencies, which have plenty of room to expand in similarly dramatic fashion to Bitcoin’s incredible jump. Investors might well choose less expensive cryptos with the potential for breaking new ground. The following four cryptos seem to be in the best position to make advances similar to Bitcoin’s.
When looking to make waves, it’s best to start off with a ripple. Ripple is a coin that’s attached to XRP, which is a blockchain decentralized currency designed for making faster currency exchanges and payments similar to wire transfers. The crypto isn’t mineable because the tokens are currently issued by human hands instead of advanced computer algorithms. Many experts feel that Ripple has the potential to challenge wire transfers — especially in cases where transfers are made for smaller amounts. Ripple has already seen substantial growth by rising 107% in one month since late November to a price of $O.60 USD.
Blockchain technology continues to advance on all fronts, and more and more initiatives are increasing in popularity. One of these hungry and aggressive systems is Cosmos, which is attempting to create an internet of blockchain-based technologies. The goal is increasing sustainability by having cryptos and other blockchain initiatives connect and interoperate seamlessly. The plan is based on how the internet of things operates.
The value of cosmos tokens is on the low side at $5 USD per token, but that leaves plenty of room for growth. It’s entirely possible and even likely that Cosmos will soon attract investor attention and experience a period of accelerated growth. The only caveat is working out the details of interoperability among cryptos and other blockchain initiatives.
3. Bitcoin Cash
Despite its name, Bitcoin Cash has no relationship with the original Bitcoin. The name came as an offshoot in debates among members of the crypto community. Bitcoin Cash was developed using the original blockchain architecture, but it’s a totally new crypto. That means Bitcoin Cash can never be used for transactions on the original Bitcoin chain.
These offshoots are known as hard forks, and Bitcoin Cash must settle for any publicity benefits associated with the Bitcoin name. Bitcoin Cash also wants to create a network of cryptos, but it came to its own fork in the road with its derivation of Bitcoin called Bitcoin SV. Modifications were made to increase speed and scalability while staying true to the original Bitcoin vision introduced by Satoshi Nakamoto. However, the prospect of interoperability hasn’t yet been successful.
Litecoin emerged as the first altcoin in 2010, and it has continuously attracted investors despite losing some of its original luster. The original selling point was the faster transactions when compared to Bitcoin’s time-consuming verification process. Bitcoin offers a cheaper point of entry for new investors and faster transactions than most of its competitors.
Litecoin has also experienced a period of accelerated growth — 167% over the past year. The price is still relatively low at $108 USD, which is less than 10% of Bitcoin’s price. The crypto deserves a second look by investors if only to ride Bitcoin’s coattails.
Keeping Current with Prices and Markets
It’s important to stay current with cryptocurrency markets and prices to spot any time-sensitive investment opportunities.