5 other popular cryptocurrencies you should know
Cryptocurrency in simple terms means digital money. It is no surprise that tech was going to bring us to the point where we do not spend actual money as the silent goal of tech is to eliminate the physical. The same goes for every other economy since we can nearly do many things like communicating and even working without being physically there.
Since the pandemic, physical touch and communication had reduced and this included the means of ensuring the availability of mobile money. Therefore, what better way to continue voracious buying and selling if not using Cryptocurrencies.
Cryptocurrency means digital money. Money built with software and which is slowly becoming a generally acceptable means of exchange. For this reason, there has been a never called out worship of Bitcoin.
One bitcoin went from being worth $8,000 in March to being worth $59,000 today and can either keep climbing or drop. Regardless, it’s a good gamble giving people more reasons to be crazy about it.
Bitcoin has since the advent of Cryptocurrencies, found its way to becoming the most popular digital money there is. At least 30% of the world think that bitcoin is another name for Cryptocurrency. But, the thing with products (digital and physical) is that there’s always varieties only that popularity may frustrate the value of variants.
5 Popular And Growing Cryptocurrencies
Bitcoin’s worth is what distinguishes it from its competitors, making it comparatively expensive. But what one must note here is that bitcoin began just like all of these cryptocurrencies as well. So now, may be a smart time to start investing in one of them, since they tend to become the next bitcoin in a much shorter period. Here are 5 other Cryptocurrencies that will render you just as wealthy, in no specific order.
Ethereum (ETH): Currently trading at $2051, ethereum has seen massive success since its release in 2015. According to primexbt, long term predictions suggest that Etherum will surpass a worth of $10,000. It sits pretty as the second-largest digital currency by market cap following bitcoin. As of January 2021 ethereum was said to have poached at least 13% of bitcoin’s market.
Tron (TRX): Tron is a decentralized blockchain-based network designed to facilitate the sharing of material. Tron has increased in popularity in the last one year since it helps content owners to monetise their content directly using Trinix. Tron has also reported profitable growth for its traders, as well as performance that is comparable to that of bitcoin, even though it is priced at $0.09. Tron has been steadily rising in value over the last year, and many crypto analysts believe it is a decent investment.
Litecoin (LTC): Often referred to as “silver to Bitcoin’s gold” and currently valued at $205, Litecoin has experienced fierce growth since its creation in 2011.
Litecoin is a cryptocurrency created by software engineer Charlie Lee 2011 and sits as the sixth-largest cryptocurrency in the world. Built with code that was very similar to Bitcoin, Litecoin focused on making the process of transaction much faster. It was designed for two purposes: to allow the average customer to mine the coin with ease and to create a network that allowed for faster and cheaper transactions in comparison to Bitcoin.
Stellar’s XLM: Although it is currently valued at less than $1, it still sits amongst the top currencies according to market capitalisation. Upon its release in 2014, stellar’s major goal was to be a network of microfinance institutions in developing countries and to serve people without banking or financial organisations around them. Now, its focus has been shifted to connecting existing financial institutions to the blockchain. Today, XLM can be used for a range of payments including acting as a crossover to allow users to trade and exchange currencies.
On a side note, all of the above cryptocurrencies started at $1 as well if not less. So, if you are looking to avoid the mistake many made by not buying bitcoin when it was valued at $1, you have another chance with any of these Cryptocurrencies. The awesomeness in diversifying investments in Cryptocurrency is that you get to test many waters and know which one best grows your fish. There’s more to crypto mining than Bitcoin.
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