Here Are Three Competitors Of Bitcoin That You Should Know About

three-competitors-of-bitcoin-that-you-should-know-about

When they first hit the ground, cryptocurrencies were getting sold like hotcakes. In 2021, the market cap was over 8400 investable crypto tokens, which surpassed the $1.5 trillion mark. If you think about it, it is double the market value of the previous peak of 2018. So it is always quite clever that Bitcoin was gaining the highest popularity among traders among all the cryptocurrencies available.

This has been one of the most popular currencies, which started its journey at $500 and ended at $50,000 in February 2021. It accounts for around $915 billion of the $1.5 trillion crypto valuation. But, there are other cryptocurrencies available these days, making a solid mark in this trading field other than Bitcoin. So, let’s catch up with the top 3 cryptocurrencies, other than Bitcoin, which offers you golden investment chances.

Lucky block

In 2022, Luckyblock will be representing the overall best cryptocurrency option. It is considered to be a digital asset project, which is here to revolutionize the globalized lottery industry for sure. 

  • In Luckyblock, the lottery process is decentralized through blockchain technology. The primary aim is to let anyone play the lottery games from their homes and eliminate the need to visit a centralized operator.
  • To ensure that this coin offers integrity and legitimacy to the players, all the functions are carried out and governed by smart contracts. So, every lottery game turns out to be fair and true without any external or internal actors manipulating the outcome.
  • If you like what you hear, you are most welcome to come and invest in this project. But, first, you need to research about the digital token and start looking at its pre-launching phase to buy it when it is available.
  • Whenever the pre-launch concludes in early 2022, you can launch the token on those platforms with various centralized cryptocurrency exchanges down the lane.

Try investing in bitcoin and other cryptocurrencies through Home’s page, and you will not look for any other name for sure. You will be amazed at the results coming your way.



Ethereum

If you are on the lookout for a suitable tradable alternative to Bitcoin, you can go with Ethereum. Considered a decentralized software platform, it enables decentralized applications and smart contracts to run and build without any control, fraud, downtime, or interference. 

  • The main aim is to create a decentralized suite of all the financial products that anyone can access freely, regardless of faith, ethnicity, or nationality. 
  • Such aspects will make Ethereum more compelling in some parts of the world. For example, those without any state identification will access bank loans, insurance, accounts, and other financial products.
  • The Ethereum application might run on ether, which works as a vehicle to move around the platform and seek developers who are willing to develop and then run applications inside Ethereum.
  • Ether was launched in 2015 and held the market to be the second-largest digital currency sector. As per the report presented on January 2022, the trading in ether is taking place at around $3200 per ETH. 

Litecoin

Next, you need to know about Litecoins. Launched in 2011, Litecoin is considered to be one of those first cryptocurrencies, which followed Bitcoin’s steps and considered to be the “silver to Bitcoin’s gold.” an MIT graduate, Charlie Lee, was the creator of Litecoin, and this currency is now gaining worldwide popularity among the masses.

  • It is an open-source global payment network that any central authorities control and will be using Script as PoW. Later, it can be decoded with consumer-grade CPUs. 
  • Even though Litecoin works more or less like Bitcoin, it consists of a faster block generation rate. So, you can always enjoy a faster transaction-based confirmation time from Litecoin.

Final Words

These three mentioned above are a few of the many cryptocurrencies you can work with apart from Bitcoin. Of course, the better you are at your research skills, the better your profit-making options become. Right from Cardano to Polkadot and so much more, you have loads of cryptocurrency investment options to give out a try. But, at the end of the day, it is advised to learn more about the forms of cryptocurrency first before making the final call.

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