Cryptocurrency and its efficient system for payments and fund managing are now dictating the state of markets all around the globe. The appearance of this technology, based on the blockchain as backing, provides a safer, faster, and better system to exchange assets than those we knew until very recently.
The most prominent cryptocurrency is and has been since the moment of its inception, Bitcoin. Created in 2009, Bitcoin has helped people build wealthy profiles and wallets, especially those who had the vision to invest in the early days.
Right now, Bitcoin’s market value reaches $10,065.70, which is mind-boggling if we take into account that this token isn’t yet ten years old. The best thing about Bitcoin is that it functions without a central bank or a single administrator: the market dictates trends and operations with no exceptions.
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However, other cryptocurrencies exist as alternatives for Bitcoin. They are known as altcoins, and there are many of them with excellent prospects for 2018 and beyond. Investors need to identify trends and factors that back up upward movements to pounce at the right time.
While it is abundantly clear that none of the altcoins may hold the value of Bitcoin, some represent excellent investment opportunities, and a handful of them may experience an exponential rise, just as Bitcoin did in the last few years.
Making significant investments in cryptocurrency, whether they are in Bitcoin or altcoins, requires savvy, patience, and attention. However, if everything breaks right and goes your way, you can amass a significant amount of money with Ethereum, Dash, Ripple, Litecoin, Monero, or other digital assets.
Here are some of the best alternatives for Bitcoin in 2018:
#1 Ethereum (ETH)
It is the closest thing to Bitcoin regarding popularity and worldwide fame, and it makes for a good investment as well. However, part of Ethereum’s appeal and why it has steadily gained recognition is because it implements a different system than that of Bitcoin.
The most accurate way to put it would be that Ethereum servers a different purpose than its counterpart. Bitcoin has a simple transaction approach based on the blockchain technology, whereas Ethereum is more like a platform of decentralized nature in which users can develop some applications and perform operations.
Experts around the crypto universe have dared to say that Ethereum represents a better alternative than Bitcoin, although much of the truth of that sentence will depend on the tastes of each user. The coin’s current value is $936.90.
It is true that the Ethereum platform can offer numerous advantages and attributes, but it is also a fact that its configuration and use is not as straightforward as Bitcoin and some other altcoins. Its value is tied to the apps that it develops, which can be a tricky proposition in investments and price determination.
While some other altcoins are aiming to take some of Bitcoin’s market share, Ethereum works differently. Not coincidentally, it shares some of the volatility issues of Bitcoin and cryptocurrencies in general.
#2 Litecoin (LTC)
When it comes to altcoins with similar systems and approaches to Bitcoin, Litecoin is considered the most common choice for investments and digital wallets. In fact, the trading and transactions are smoother with this token than with the most prominent of them all.
Litecoin’s popularity had risen in recent times, especially from the middle of last year when the token was adopted by Coinbase. Crypto investors are now very interested in this token, with its value reaching $228.
The SegWit (or Segregated Witness) technology that Litecoin implements represent a far better structure and system than Bitcoin because this altcoin can handle large transactions with relative ease and the fee per each completed agreement is significantly lower.
#3 Dash (DASH)
The thing that makes Dash attractive is the anonymity with which each transaction is managed, a very desirable trait given the dangers lurking around online banking and the use of centralized exchanges, among other platforms.
Dash is considered as one of the safest investments that crypto users can make, and it is also worth saying that this altcoin can complete transactions in a much faster time than Bitcoin and other altcoins.
Dash offers its users not one, but two levels of security for their investors. It could be said that Dash pays volunteers to sign-off on operations, gaining auto sustainability.
While Dash holds considerable value as of this writing ($688.75,) its potential as a serious rival for Bitcoin is somewhat limited because, for all its features and attributes, completely safe transactions cannot be assured. Much as Bitcoin, it depends on the blockchain technology and therefore is tied to the same risks.
That is why Dash is viewed as a slightly safer alternative for Bitcoin, in which you could perform faster transactions, but it doesn’t seem to have the same prospects of gaining exponential value over time. It is a safe investment, but there are other altcoins with more of a ceiling than Dash.
#4 Monero (XMR)
Much like Dash, Monero is also based on the blockchain technology and provides an anonymous environment for trading and exchanging assets. However, unlike Bitcoin, Monero does not allow anyone to access and see transactions logs.
Monero is relatively new to the crypto universe, being created in 2014, five years later than Bitcoin. Its current market value is at $288.19, and its main attractiveness for investors remains the privacy that it can provide users in need.
The fact that not anyone can see transactions logs means that people will not be able to know the operations made by other people, enhancing privacy and security while exchanging assets.
#5 Dogecoin (DOGE)
One of the best alternatives for Bitcoin in 2018 is Dogecoin, which is a peer to peer open source cryptocurrency created in December 2013. It provides a simple platform for assets exchange but is quickly rising the rankings of preferred digital coins.
Dogecoin is a script based decentralized platform that allows speedy payments that can be performed by any person, located in any place of the globe. Billy Markus and Jackson Palmer have attributed the creation and development of this token.
Dogecoin is rapidly rising and is considered a fast-growing digital currency, a situation that goes perfectly with its clever slogan: “To the moon”! Right now, Dogecoin’s market value is at $0.006959.
#6 Ripple (XRP)
If what you want to achieve is a smoother way of completing international transactions, then Ripple may be your best alternative for Bitcoin in 2018 and beyond. Investors can make swift deals at minimal costs.
Given market stability, a sizable investment in Ripple may lead to tremendous benefits because of the potential that the international market has. This coin has more than enough features and attributes to warrant serious consideration as one of the top altcoins to invest this year. Its current value stands at $1.13.
In conclusion, Bitcoin may represent the safest investment in the crypto universe, despite the fall that saw it pass from $17.900 to closer than $10,000 in a matter of weeks. However, and while altcoins may not have similar value, some of them may represent excellent investment opportunities while they are at their current values.
Some of them, like Ethereum, perform business and transactions in a different way than Bitcoin, but that doesn’t mean it can’t be useful. Others, such as Monero and Dash, can provide a better, more anonymous environment for trading, and most of the options listed here can complete operations in faster times than Bitcoin.
