While Bitcoin is the largest and most famous among cryptocurrencies, it’s not alone.
It is true that Bitcoin is almost eponymous with “cryptocurrency”, but that doesn’t
mean it’s your only choice if you decide to invest; altcoins currently flood the market.
HERE, YOU WILL LEARN ABOUT SOME OF THE BEST CHOICES THERE ARE.
THE MOST PROMISING ALTCOINS ARE ETHEREUM, EOS, CARDANO AND STELLAR:
- Ethereum has more to offer than just a digital currency like Bitcoin has. Ethereum has its own platform where the developers can use the blockchain technology. Ethereum was the first cryptocurrency that introduced smart contracts, which are agreements that execute themselves when a pre-set condition is fulfilled, not to mention the fact that Ethereum is the platform which started Initial Coin offerings or ICOs.
- EOS should not be compared with Bitcoin but with Ethereum. That’s because EOS also offers Blockchain smart contracts. The advantage that EOS has over the Bitcoin is that it offers Proof-of-Stake while Bitcoin has Proof-on-Work. Due this reason the EOS is more scalable than Bitcoin since PoS is seen as more “modern”.
- Cardano offers a lot of technological advantages over the BTC and the ETH, i.e. Cardano has a dapp-building platformwith its own currency, and Cardano has created a solution to the blockchainproject scalability problem. It also tries to solve the issues of internationalpayment transfers.
- And last but not least, we have Stellar. The difference between it and the other cryptocurrencies is that Stellar does not try to replace the traditional currency, but make a hybrid between both; the objective is creating a new currency. The main reason of its promising aspects is that Stellar has existed almost as long as other promising altcoins, but Stellar has been on a rise with just little falls as of lately.
WHY INVESTING IN ALTCOINS?
The reasons why these alternatives cryptocurrencies are good investments is because each one of them provides certain advantages that others don’t.
For instances, Ethereum has an upgraded way to make contracts. Being the first one that implemented these new technologies has an advantage over others altcoins.
Also, almost all of these have airdrops that help both new and old investors through tokens and make their growing range increase rapidly and effectively. It makes their volume and price varying.
And, at last, we can point out the main reason why traders should be interested in more than just one cryptocurrency.
It’s old to say that you should “never put all your eggs in one basket”, and that remains true for all markets.
The main reason why the ICO craze was so important is that investors always look to diversify their earnings.
This has two main advantages:
- It lets you earn from “younger” coins with lower starting prices and higher growth rates.
- It gives you a safety net in case one of your crypto assets plummets in value.