3 Great Cryptocurrencies You Can Invest in Outside of Bitcoin
While Bitcoin is still the world's biggest cryptocurrency in terms of market cap, it is far from being the only option right now. There are so many coins on the market, and some have very interesting prospects for the future. Some of these coins go well beyond being simply transactional and aim to solve real-world problems. Some coins have still not been discovered, and this could be your chance to find coins that haven't reached their full potential yet. Let's take a look at three great cryptocurrencies to invest in outside of Bitcoin.
1 - Ethereum
You won’t find a single serious crypto investor that doesn’t have at least some of their assets tied up in Ethereum. Ethereum is the cryptocurrency with the second highest market cap after Bitcoin. But both projects are completely different.
While Bitcoin tries to replicate money, Ethereum is not even a cryptocurrency. Ethereum is the name of the platform on which decentralized apps are hosted. These apps need to be powered by the network's coin, Ether. Since Ethereum's blockchain is one of the most robust and very well appreciated by developers, you can expect there to always be a demand for Ether.
If you want to learn more about Ethereum and follow the most recent developments, you should check out a site like CoinList. You can learn more about Ethereum and other important news that could influence its movement.
2 - Litecoin
Litecoin is the second on our list because of its potential. You may not know this, but many things make Bitcoin fundamentally bad as a currency. Even insiders know this but won't speak too loudly about it.
Bitcoin has been criticized for years for its slow transaction speeds and incredibly high fees. It can only process about seven transactions per second, which makes it hard to imagine how it could work as a global currency.
Litecoin seeks to solve that and actually evolved from Bitcoin. Transactions with Litecoin are much faster with fees nowhere close to Bitcoin’s. This could make it a much better option for everyday transactions and one of the reasons you should at least own some.
3 - Monero
You cannot have a complete cryptocurrency portfolio without one or a few privacy coins. This is one of the most important niches in crypto, and there will likely always be a demand for these. Monero is one of the best privacy coins you can invest in and one of the most well-known. The coin uses ring signatures to hide trade participants. With this technique, a group of signatures will appear with only one being real. The signature cannot be singled out since they all look legitimate. It also focuses on decentralization and scalability, which is something that worries a lot of people about Bitcoin.
These are all coins you should pay special attention to if you want to diversify your portfolio. They are all very different too, and you never when one might blow up, so keep a close eye on those.
***
DISCLAIMER
The views, opinions and positions expressed in this article are those of the author alone and do not necessarily represent those of https://www.cryptowisser.com/ or any company or individual affiliated with https://www.cryptowisser.com/. We do not guarantee the accuracy, completeness or validity of any statements made within this article. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author. Any liability with regards to infringement of intellectual property rights also remains with them.