Although there are more than 1,000 different cryptocurrencies in the digital currency ecosystem, only a few have managed to stand out. So far, the biggest factor has been how many people use them for transactions or applications.
At this point, Bitcoin is still the largest cryptocurrency by market cap because it was the first. However, recent data shows that Ethereum may be ~2/3 of Bitcoin’s market cap if it were to become larger. So what are some other coins that may deserve to be part of your portfolio?
1) Dash (DASH):
As one of the older and more stable coins available in today’s market, Dash has an advantage over new coins like Ether and Ripple because it can deal with high transaction volume better than its younger competitors.
Dash is considered more private than Bitcoin and has recently positioned itself as a payment system rather than just a coin. This distinction may help it avoid some government regulations plaguing its competition. Dash’s open-source platform makes it easy for developers to integrate into current businesses, making it the most useful of all cryptocurrencies in the long term. Dash has remained strong during this most recent market crash because investors continue to invest in its potential growth.
Dash faces stiff competition from other newer coins like Ethereum, Monero, Ripple, and Litecoin. But if any exist, Dash still has an opportunity to capture market share with ease thanks to its stability and design advantages over most other altcoins available today. It means that Dash is more likely to be the first coin to capture mainstream markets once they open up because other coins will already be too slow, too centralized, or unable to scale because of their infrastructures.
2) NEO (ANTE):
Although relatively new, NEO has already earned a place in investors’ hearts and minds by offering a technologically superior alternative to Ethereum. However, if Ethereum will consider a diamond among digital currencies, It can compare NEO with gold.
Like Silver, Gold, Platinum, and Palladium, ANS shares many of the same properties but offers advantages over them as well. The block-lattice infrastructure employed by NEO allows it to offer unlimited transactions per second while using 100% less energy than Bitcoin.
Realistically, this means that once the crypto market starts to explode again, NEO is one of the best digital currencies for investors to buy and hold long term. The supply of ANS is fixed at 100 million tokens, and no more NEO will ever be made. If you want a coin with potential for mass adoption and real-world growth, look no further than NEO. But don’t expect much price appreciation until after 2020!
3) Ripple (XRP):
Investors turned heads when Ripple was awarded the title as the world’s second-largest cryptocurrency by market cap just days after Ethereum knocked Litecoin from its perch as number two. While there are many reasons, XRP earned such a distinction, not all of them are positive. Ripple has been accused of acting more like a centralized bank than an open-source payment system. While the Ripple team is attempting to improve its image and decentralization. They expect to see many market participants shy away from XRP and turn their attention to other coins instead.
If we take a step back and ignore the stigma associated with Ripple, we can see that it excels in several key areas where Bitcoin fails – speed, affordability, and scalability. If you’re looking for a cheaper coin that’s easier to use than Bitcoin, then Ripple may be right for you.
4) Ether (ETH):
As the pioneer of smart contracts built on blockchain technology. Ether has established itself as the second-largest cryptocurrency by market cap even though it is still in its infancy relative. To other altcoins like Dash and NEO that have been around for years. While Ethereum was not intended to serve as a digital currency, many investors see Ether as a better version of Bitcoin because it takes advantage of blockchain technology while avoiding some of Bitcoin’s shortcomings. Despite its name, it can use Ether for much more than just peer-to-peer payments.
The most interesting part of Ether is its ability to act as fuel for the Ethereum platform. This function creates demand for ETH because people need to pay miners (those who maintain Ethereum’s blockchain) in ETH tokens to complete transactions on the Ethereum network.
5) Monero (XMR):
Digital currencies like Dash and Ether will design to appeal to a broad audience, but Monero will develop with a specific group in mind. Those who value privacy. That is why MXR has earned its place as one of the best digital currency investments available today. Even if you’re not concerned about government agencies snooping on your cryptocurrency transactions. Then you may want to consider investing some of your portfolios into Monero because it’s still cheap and easy to use. Even though it doesn’t boast features like speed and scalability that many other altcoins offer.
Monero sets itself apart from Bitcoin and other altcoins by employing a special system that obscures both the sender and recipient of any transaction. More importantly, Monero makes it impossible to generate an accurate wallet balance. Since it will impossible to ascertain how many MXR tokens will create.
The digital currency market is volatile, and nobody can predict with any degree of certainty. Which coins will soar in value or which ones will die before they even begin? Right now, the best way for investors to increase their chances of success is to diversify and balance. Their portfolios by investing in a variety of coins instead of putting all their eggs in one basket.
Sarah has been writing for a decade and now for the Quran teacher near me Website. She obtained her Master’s degree at the University of London. Her main objective is to write insightful content for those who read and like it.