Nov 23, · A cryptocurrency is a digital currency that takes the form of coins or tokens. Bitcoin is the most popular one, out of all various cryptocurrencies such as Ethereum, Ripple, Tether, Libra, etc. Dec 20, · After being inundated with requests on how to trade Bitcoin and other cryptocurrencies, we came up with the practical, step-by-step strategy on this video. S Author: Crypto Playhouse.
How to trade cryptocurrency other than bitcoin5 Most Important Cryptocurrencies Other Than Bitcoin - EconoTimes
During , Ethereum launched a pre-sale for ether which received an overwhelming response; this helped to usher in the age of the initial coin offering ICO.
Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Indeed, all of Ripple's XRP tokens were "pre-mined" before launch, meaning that there is no "creation" of XRP over time, only the introduction and removal of XRP from the market supply according to the network's guidelines.
In this way, Ripple sets itself apart from bitcoin and many other altcoins. So far, Ripple has seen success with its current business model; it remains one of the most enticing digital currencies among traditional financial institutions looking for ways to revolutionize cross-border payments.
It is also currently the third-largest cryptocurrency in the world by overall market cap. As of Jan. Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer-grade. Tether was one of the first and most popular of a group of so-called stablecoins , cryptocurrencies which aim to peg their market value to a currency or other external reference point so as to reduce volatility.
Because most digital currencies, even major ones like bitcoin, have experienced frequent periods of dramatic volatility, Tether and other stablecoins attempt to smooth out price fluctuations in order to attract users who may otherwise be cautious. Launched in , Tether describes itself as "a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. On Jan. Bitcoin Cash BCH holds an important place in the history of altcoins because it is one of the earliest and most successful hard forks of the original bitcoin.
In the cryptocurrency world, a fork takes place as the result of debates and arguments between developers and miners. Due to the decentralized nature of digital currencies, wholesale changes to the code underlying the token or coin at hand must be made due to general consensus; the mechanism for this process varies according to the particular cryptocurrency.
BCH began its life in August of as a result of one of these splits. The debate which led to the creation of BCH had to do with the issue of scalability; the Bitcoin network has a strict limit on the size of blocks: one megabyte MB.
BCH increases the block size from one MB to eight MB, with the idea being that larger blocks will allow for faster transaction times. One of the most-hyped cryptocurrencies is one that, as of January , has yet to even launch. By mid, rumors circulated that social media giant Facebook, Inc.
FB was developing its own cryptocurrency. Given Facebook's incredible global reach and the potential for massive volumes of exchange across its platform, the cryptocurrency world had long speculated that the social media titan might launch its own digital token. Rumors were formally confirmed on June 18, , when Facebook released the white paper for Libra. Libra will be overseen in part by a new Facebook subsidiary, the financial services outfit Calibra.
Monero is a secure, private and untraceable currency. This open-source cryptocurrency was launched in April and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated.
Because of exceptional security mechanisms like this, Monero has developed something of an unsavory reputation: it has been linked to criminal operations around the world. Aside from Libra, one of the newest digital currencies to make our list is EOS. Before his work on EOS, Larimer founded the digital currency exchange Bitshares as well as the blockchain-based social media platform Steemit. Like other cryptocurrencies on this list, EOS is designed after ethereum, so it offers a platform on which developers can build decentralized applications.
EOS is notable for many other reasons, though. EOS offers a delegated proof-of-stake mechanism which it hopes to be able to offer scalability beyond its competitors. IO, similar to the operating system of a computer and acting as the blockchain network for the digital currency, as well as EOS coins. EOS is also revolutionary because of its lack of a mining mechanism to produce coins. Instead, block producers generate blocks and are rewarded in EOS tokens based on their production rates.
EOS includes a complex system of rules to govern this process, with the idea being that the network will ultimately be more democratic and decentralized than those of other cryptocurrencies. In this sense, BSV is a fork of a fork of the original Bitcoin network.
A planned network upgrade for November of resulted in a protracted debate between mining and developing factions in the BCH community, leading to a hard fork and the creation of BSV. Developers of Bitcoin SV suggest that this cryptocurrency restores Bitcoin developer Satoshi Nakamoto's original protocol, while also allowing for new developments to increase stability and to allow for scalability.
Bitcoin SV developers also prioritize security and fast transaction processing times. Founded in , Binance has quickly risen to become the largest exchange of its kind globally in terms of overall trading volume. The Binance Coin token allows Binance users to trade in dozens of different cryptocurrencies efficiently on the Binance platform.
BNB is used to facilitate transaction fees on the exchange and can also be used to pay for certain goods and services, including travel fees and more. That said, Litecoin has four times faster processing times than Bitcoin and is not that resource-intensive, which makes transaction fees lower.
Though the buzz around Litecoin has decreased significantly over the years, the truth is that Litecoin is one of the most widely accepted cryptocurrencies in the financial sector and is here to stay.
So, do you think that Litecoin is a good investment? Originally launched in as Realcoin, Tether is technically a blockchain network for storing value and executing currency transactions. It can be used to transfer money between countries without having to rely on an expensive intermediary.
Here we should note that stablecoins are cryptos backed by a fiat currency designed to minimise volatility and attract more cautious investors into the crypto market. Currently, there are 18,,, in circulation. As Tether aims to join the decentralised nature of cryptocurrencies with the stable value of the US dollar, many see Tether as a safe haven. Ripple is a crypto and a network at the same time, which is used to move money around the globe without the need for third parties.
In fact, Ripple is one of the most widely utilised cryptocurrencies for the execution of cross-border payments. With fast processing times of about seconds and low transaction fees , Ripple is one of the main competitors of the current SWIFT system used by central banks and major financial institutions.
The great news is that Ripple is employed by more than financial institutions across 40 countries; and according to some sources, giants such as VISA and Western Union could soon also accept Ripple. Thus, Ripple is a great opportunity for traders to buy low and sell high in the future. In the end, g ood investing is all about evaluating risks. Ideally, you want to minimise exposure to risk while maximising the potential for rewards. Ripple fits the bill perfectly.
So for a few hundred dollars you could add a significant amount of Ripple to your portfolio. And when you can buy big volumes at that kind of price, even a modest bull run would lead to some nice returns. In rumours began circulating that Facebook was thinking about launching its own cryptocurrency. The stories were then confirmed in when Facebook released a white paper on Libra, a new kind of digital coin that is scheduled for release soon not until it receives support from lawmakers.
According to its white paper, Libra aims to help people with no access to traditional banking to use financial services, move money securely, and enjoy their hard-earned income.
A coin to look out for! At the same time, we should mention that Libra has lost some support from major investors due to the numerous scandals and privacy and security issues surrounding Facebook. Though Facebook is not in full control of Libra but just a member of the Libra Association, many also worry that their financial information will be a target of Facebook Ads.
Internationally, Libra also caused controversy by transferring too much control over crypto to the USA. Monero is one of the most popular coins that are suitable for crypto purists. Monero has a simple goal: to make transactions private and anonymous.
It has a strong focus on decentralisation and scalability. However, this guarantee of anonymity has given Monero a bit of an unsavoury reputation. In fact, Monero has been linked to large scale criminal operations around the world. But Monero's revolutionary technology can also be a force for good. It helps prevent identity theft, fraud, and could give people full control over their data. In the end, Monero and its native coin XMR aim to allow fast payments without fear of censorship. If you are looking for other important cryptocurrencies besides Bitcoin, then consider Binance Coin.
Binance Coin is the token of the Binance exchange - one of the biggest cryptocurrency exchanges in the world. Binance Coin lets users trade all types of crypto quickly and securely. Also, it can be used to pay for Binance exchange transaction fees. Interestingly, users who pay for transaction fees in Binance coin are then eligible for a rebate after 5 years on the platform.
Coins were originally issued as ERC tokens on the Ethereum network, but in they were moved to the Binance Chain mainnet. Often referred to as the Chinese Ethereum, NEO automates the management of digital assets through smart contracts.
It also aims to create a distributed smart economy system in which users can buy, sell, and trade without the need for intermediaries. And NEO has a major competitive advantage in the Chinese crypto market. It was specially designed to pass China's strict financial regulations, which have already banned Bitcoin, initial coin offerings ICO offerings, and cryptocurrency exchanges.
NEO is another coin you should be watching. Often referred to as China's Ethereum, NEO automates the management of digital assets through smart contracts.
Perhaps the main factor that attracts investors from all over Asia is the fact that NEO has a major competitive advantage in the Chinese crypto market: NEO was particularly designed to pass China's strict financial regulations. Not only that but NEO is impressively agile and can process up to 10, transactions per second. Tezos is decentralised blockchain technology. Like Ethereum, it was designed to facilitate smart contracts. However, Tezos takes the idea of smart contracts one step further by allowing users to control the rules of the network directly.
This flexibility makes Tezos a continually evolving system, which means it's well-positioned to respond to any future demands. The Tezos price reached an all-time high this year, leading to renewed interest in its potential investment value. Tezos is among the top 10 most important cryptos for a reason. Tezos is a decentralised blockchain technology that was proposed in by Arthur and Kathleen Breitman and launched in after a successful ICO, which sadly was followed by numerous legal feuds.
Like Ethereum, Tezos was designed to facilitate peer-to-peer transactions, smart contracts, and DeFi projects. However, Tezos takes the idea of smart contracts one step further by allowing users to control the rules of the network directly without forking the protocol.
This flexibility makes Tezos a continually evolving system , which means it's well-positioned to respond to any future demands. It was at the beginning of when Tezos reached an all-time high, leading to renewed interest in its potential investment value. Talking about innovative technology and important cryptocurrencies other than Bitcoin, we should explore Chainlink and its token LINK.
Chainlink LINK is a decentralized oracle network - or a DeFi tool - that aims to bridge the gap between smart contracts and real-world applications , or the gap between the blockchain world and outside resources. Here we should note that oracles are an alternative to blockchain technology.
As blockchains cannot access outside information, oracles are needed to incorporate external data into smart contracts and trigger executions upon the fulfillment of certain conditions.
And as blockchains and external data are becoming increasingly intertwined, Chainlink's stock is likely to start rising again. A savvy looking investment! No surprise that Chainlink has had a busy year, which has been a good one for early investors. Note that as of November , Chainlink is ranking 6 among other coins by market cap, as per CoinMarketCap , which proves that this crypto is one of the most promising coins besides Bitcoin.
Despite the vast number of new digital currencies, Bitcoin will continue to dominate the crypto sphere for a long time to come. Yet, Bitcoin is by no means the only game in town.