Top 6 Bitcoin (BTC) Alternatives in 2018 - Global Coin Report
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Top 6 Bitcoin (BTC) Alternatives in 2018

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It has been a while since cryptocurrencies first appeared, and due to their last year’s increase in price and popularity, nearly everyone with the internet connection has at least heard of them. Most people are already somewhat familiar with Bitcoin (BTC), which is the first and biggest crypto to this day. However, there are many, many more of them out there, some of which can serve as more than decent BTC alternatives. Let’s list some of them, and see what they can offer.

Litecoin (LTC)

Litecoin is often described as silver to Bitcoin’s gold. It is a currency that first appeared in 2011, and it is among the first ones to appear after BTC. LTC was created by a former Google engineer and an MIT graduate, Charlie Lee, and it is based on an open-source network for global payments. It is decentralized, meaning that it does not have a central authority, and is known for using scrypt as its proof-of-work.

Considering the fact that it appeared so soon after BTC, it shares many similarities with this currency. What makes it different, however, is a much faster rate of block generation. This also allows for faster transactions, which is a useful feature that has inspired many to start adopting LTC as a part of their business practices. Its current value is $122.10 per coin.

Ethereum (ETH)

Ethereum is a much younger crypto that was launched back in 2015. It is basically a decentralized software platform, and it allows for the creation of dApps and Smart Contracts. Thanks to these products, issues like fraud, downtime, interference, or control from some third party is completely eliminated.

Before ETH’s official launch, Ethereum has a pre-sale which had a much bigger response than anyone would have expected. Its token is called Ether, and it allows its holders to easily navigate Ethereum’s platform, which is why app developers who wish to use this platform make the majority of ETH holders.

After a cyber attack from 2016, Ethereum had to split, which led to the creation of another altcoin, Ethereum Classic (ETC). ETH’s current price is $602.78, while ETC’s price is $15.75.

Verge (XVG)

Verge is yet another crypto that was inspired by Bitcoin, and it even used BTC’s original blockchain, which it improved for its own purposes. Those purposes include providing its users with an efficient and fast decentralized way to make transactions directly. Its goal is to allow the users to keep their privacy, and give them flexible options when it comes to sending and receiving payments.

To achieve such levels of privacy, Verge uses networks that provide anonymity, like 12P and Tor. That way, it can successfully hide its users’ IP addresses, and keep their transactions untraceable. As for its price, it is currently at $0.041980.

Ripple (XRP)

Ripple is a crypto that was developed and launched in 2012 by the Ripple company. This company has a complete ownership and control over this currency, which makes it impossible for anyone to actually mine it. The only way to get Ripple is to buy it from a trading platform. This level of control, as well as multiple products that provide its users with quick and safe payments, has made Ripple one of favorite cryptos among the banks.

Financial institutions have discovered its potential, which has inspired them to adopt it and use its technology to improve their own businesses. Ripple, of course, accepted, which allowed it to gain more exposure, influence, and users. Its price is at $0.623194.

Dash

Dash is a crypto that appeared in January 2014 under the name of Darkcoin, and is mostly described as Bitcoin’s more secretive version. Obviously, it was inspired by BTC, but it offers much more anonymity than BTC. It works on a mastercode network that is completely decentralized, and it allows for untraceable transactions.

Due to its nature, it became very popular very quickly, and it can be mined by anyone by using GPU or CPU. Its name was changed from Darkcoin to Dash in 2015, but it kept all of its original technological features. Its current price is at $338.29.

Despite the fact that BTC is the biggest and the best-known crypto within the online world, there are still many currencies that can be used as its alternatives. Most of them offer a better deal when it comes to privacy or fees, which is not surprising considering that they managed to build on the foundation that BTC itself has set.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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The Pros And Cons Of Cryptocurrency

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Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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