Cryptocurrencies: the cure for corruption

Bitcoin could still be considered the flagship cryptocurrency, on which many of the other alternative currencies sail in the wake, but that does not mean that it is the only viable one. However, with more than 1,300 different cryptocurrencies, knowing where to invest your money is not an easy task.

Opt for a currency with a low price to buy many? (in the hope of making a fortune), Buy those that have low transaction fees or confirmation times to speed up transfers? This guide is not about giving you investment advice, but we will offer you the best current alternatives to bitcoin based on its current characteristics and values. Whether you’re looking to use your cryptocurrency to pay for items online or simply want to add them to your portfolio, these are the best alternatives to bitcoin.

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Is it safe to invest in cryptocurrencies?

Before we really start recommending cryptocurrencies alternatives to bitcoin, it must be said that investing in any cryptocurrency, whether new or established, is more like gambling than traditional investment. Prices can be extremely volatile and although we do not believe that regulations are going to cause any real problems for the scene, it is still possible and nobody knows for sure.

However, if you search online, you will find many people who seek to advise others to invest in “safe things”. It could be something as exclusive as Dentacoin, or a new initial offer of coins in search of financing. That is not what we will do here.

While the profit margin is certainly higher in the new crypto currencies that you can get for a fraction of a dollar, in this guide we will recommend tested currencies that are less likely to bottom out and ruin your investment. We will look for established currencies that have been proven over time as value deposits and viable transactional means.

Ethereum

As much as bitcoin had a great year, 2017 was equally impressive for Ethereum. It went from a single-digit currency at the beginning of 2017, to more than $ 1,200 in the first days of 2018. It has also been shown that it has a higher limit than bitcoin in terms of transaction management, at least from moment. Currently, there is a greater number of transactions per day in the Ethereum network than in the Bitcoin block chain. In addition, transactions occur much faster, and transaction costs are also much lower.

Although some experts with whom we speak still believe that bitcoin will continue to be the flagship of cryptocurrencies, increasing their value and usefulness in the years to come, there is no doubt that they face some difficulties. Ethereum and the newer altcoins have solved some of these potential problems, at least in the short term. Ethereum has not yet reached the scalability problems Bitcoin has encountered, which has triggered the tariffs. It also incorporates additional features such as smart contracts, which could make Ethereum and its currency, Ether, the preferred cryptocurrencies for a variety of industries in the future.

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Litecoin (LTC)

Like many other altcoins on this list, there are many cryptocurrency investors who wished they had bought a lot of Litecoin in early 2017. In January, they could buy individual litecoins for $ 4 each, but they would increase to more than $ 350 each. at its best at the end of the year. Although there is no guarantee (as with any cryptocurrency) that Litecoin will ever reach or even exceed that height, its relatively low price at the time of writing could represent a decent investment opportunity.

When compared to Bitcoin, Litecoin is preferable for regular transactions, with a block time of a quarter of that of bitcoin and transaction fees at a fraction of a dollar. More and more developers and merchants are beginning to accept Litecoin as well.

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Although Litecoin does not have the same potential as Ethereum in terms of building new transaction platforms, as one of the longest cryptocurrencies (created in 2011) it is an established altcoin with great recognition. It is one of the 10 main cryptocurrencies by market capitalization and has a greater trading volume than all the other altcoins, only being surpassed by Ethereum, Ripple and Bitcoin Cash.

Ripple (XRP)

Although Ripple certainly has its detractors for being a rather centralized cryptocurrency in a space known to be decentralized, there is no denying that Ripple has real potential thanks to its growing value and industry support.

The value of Ripple increased at the end of 2017, going from around $ 0.20 at the end of October to more than $ 2.50 at the end of the year. It often stands out from some of the other cryptocurrencies of great market value, as it tends to increase when the others fall and vice versa.

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Although Ripple and its transactional protocol, XRP, show great potential for those seeking to make money with their investment, Ripple has a unique place on the podium of cryptocurrencies, for its support of major banking organizations. With the support of companies such as Santander, RBC, American Express and other financial institutions, Ripple technology is already being used by some groups for international money transfers. Money Gram recently announced a partnership with Ripple Labs to use XRP for some of its “payment streams.”

Digital Cash (DASH)

Dash had a similarly positive 2017 along with the rest of the most important altcoins, going from $ 10 per token to a maximum of $ 1,200 by the end of the year. Since then, it has been set at around $ 800, but that still represents a big increase in the last 12 months and puts it squarely in the first 20 cryptocurrencies in terms of market capitalization.

Originally called Xcoin and then Darkcoin, Dash has existed more than most, officially launched in 2014. It quickly gained popularity early in its life cycle and has retained much of it since then, for its defense of owners’ privacy. Through its “PrivateSend” feature, it becomes possible for Dash transactions to become more obfuscated and, therefore, provides an additional layer of anonymous privacy for owners.

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When compared to Bitcoin, Dash is also much faster and cheaper to transact. The fees at the time of writing these lines are at their highest point and despite this, they are only $ 0.40. Thanks to its “InstantSend” feature, transaction times can also be almost instantaneous.

Monero (XMR)

A single Monero token is worth around $ 315 at the time of writing this article, which is a significant increase over its value of approximately $ 9 at the beginning of 2017. Although it is considered an alternative currency, Monero relies on a hash algorithm different from bitcoin . Ultimately, this means that it has greater privacy for owners as a central component of its technology.

Improved privacy with Monero is achieved by hiding certain elements of a transaction such as the receiving address and the amount that is being transmitted. That’s quite different from bitcoin, which has a fully public ledger that makes it easy to plot bitcoin through the network, even though it takes a long time.

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For those who like the privatizing elements of Monero, it can be used to make direct purchases to other users, and also on some websites, although the range of conventional purchasing solutions is limited at the moment.

ZCash (ZEC)

Like Monero, ZCash is a cryptocurrency that has the privacy and security of its owners as a basic principle. It allows the obfuscation of details of the transaction such as the sender, the recipient and the amount processed. That focus on privacy and the general increase in interest on cryptocurrencies in 2017 increased the value of ZEC from around $ 50 at the beginning of the year, to about $ 900 at its peak. Since then it has been established at around half, but it has still shown real financial growth in recent months.

Founded in October 2016, ZCash is the youngest cryptocurrency on this list, but has shown impressive adoption growth in that short time. It is backed by ZCash Company, which gives some similarities with Ripple, but its nodes are not privately owned. However, 10 percent of the total of the 21 million potential ZECs that will be mined over the life of the currency will be delivered to the original founders and investors.

As a transactional medium, ZCash is much faster and cheaper than Bitcoin, with a block time of a quarter of the best-known cryptocurrency. The fees are substantially lower, currently costing a fraction of a cent.

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