Digital currencies, or cryptocurrecies, has been around for quite some time now, but it was Bitcoin that carried cryptocurrency market towards the public and mainstream attention. Bitcoin has comprised between 75% to 95% of cryptocurrency market for years prior to 2017. This gain in popularity of Bitcoin and Bitcoin trading has allowed for the emergence of new cryptocurrencies in the market, making a total of more than 1,600 different digital currencies as of date.
Investors planning to put their money into cryptocurrency trading platforms such as Bitcoin Revolution should choose carefully the type of digital currency they would trust. Here are some of the top cryptocurrency alternatives investors should start to consider:
Often considered the second-most valuable cryptocurrency in the market, Ethereum has practically the same benefits of Bitcoin in terms of security and technology. It makes use of blockchain technology which allows for currency and non-currency uses, unlike Bitcoin’s which restricts its use to exchange of goods and services only. One other feature of Ethereum is the incorporation of smart contracts. This protocols allow for seamless execution of certain requirements and transactions.
While most cryptocurrencies focus on their blockchain technology, Litecon has been focusing on expanding its range towards as many merchants as possible. This has led to a surge in Litecoin;s daily transactions to around 35,000. It may still be far behind Bitcoin’s statistics which records around 150,000 to 300,000 transactions per day, but the improvement in the speed in which Litecoin processes transactions and its aggressive directions towards partnering with as much merchants as possible, it is forecasted to close this gap between Bitcoin transactions soon.
The key takeway in using Monero as a digital currency is the privacy it offers to users and traders. Transactions made through Monero is done with ring signatures to keep the identities of the parties involved anonymous. It also makes use of stealth addresses that only notify the recipient of the funds.