Nowadays, investing in Cryptocurrencies is considered as the most smarter investment after the tweets of Elon Musk about Cryptocurrency trading. After Musk’s emphasis particularly on Bitcoin and Ethereum, the value of both the digital currencies have boomed all of a sudden. But for the last few months, both the Cryptos, especially Bitcoin’s value has fallen down. New investors are looking for investing in Bitcoins before the price spikes again.
Moreover, recently US president, Joe Biden has announced an increased rate of taxes on capital gains; which is why a large number of investors have sold their share stocks and holding in order to avoid paying extra taxes. But that has not had any impact upon the new investors’ interest about investments in Cryptocurrencies.
Though Bitcoin has ruled the Cryptocurrency world from the very beginning, there are some new additions of Cryptocurrencies that have been included in the blockchain market. Small and tenderfoot investors are showing their interests in investing in those new Cryptocurrencies and hoping that they will meet the extreme success in near future. There are possibilities of beating the Bitcoins by those new editions of Cryptos.
However, many people are still not ready to try out their crypto luck, most probably because they don’t get how it works. Well, the good news is that nowadays nothing is difficult or even understanding cryptocurrency. Crypto trading got way easier after the emergence of numerous A-class crypto trading platforms like Yuan Pay App, Bitcoin Prime, etc. each of which deal in a specific type of cryptocurrency.
In this article I have profiled five such new Crypto alternatives to Bitcoin followed by their features and benefits. Here are they:
Dogecoin
The newly launched Cryptocurrencies Dogecoin is the most popular and cheap crypto to invest in right now. Mostly the new investors are willing to invest in it because of the Tesla CEO’s growing interest in Dogecoin. Recently Elon Musk has addressed himself as ” Dodgemaster” and suddenly Dogecoin became the most recommended Cryptocurrency for all to invest in. In 2013 it was introduced as a meme coin and nobody has a minimum intuition that it could turn into a legitimate crypto someday. The value of Dogecoin has risen from 0.007635 US dollar to 0.074398 US within a short period of just two weeks, which is a record success among all the Cryptocurrency values. The current market value of Dogecoin is 0.4392 US dollar.
Cardano
Cardano which holds the symbolic name ADA in the Cryptocurrency market is known as the most promising digital currency that has the potential to bring maximum profits for its investors. This one is very popular because of its flexible network and fast transaction process. Cardano was first introduced by Charles Hoskinson who is also the co-founder of Ethereum. Cardano is considered as the best alternative to Bitcon as it is sustainable, scalable and interoperable that make it more worthy to invest in. Moreover, it helps the developers to create smart contracts by which they can start working on launching new Cryptocurrencies, the DeFi industry apps etc. The present valuation of Cardano is 1.32 US dollar.
Binance Coin
Binance coin or BNB was launched in 2017 and gradually it became the third largest Cryptocurrency in the field of digital currencies. It was initially produced as an Initial Coin Offering (ICO) and BNB was then used to pay the transaction fees for the different Cryptocurrency exchange. They have created a website too; Binance.com that offers discounts to the users who use BNB for making the payment of transaction fees. The market capitalization value of Binance Coin is now near about 90.9 US dollars. Binance Coin’s recent value is 663.43 US dollars per crypto.
Ethereum
Ethereum which is also known as Ether, is the second largest Cryptocurrency that has been produced in the year 2015. Ethereum is the most widely used blockchain at present after Bitcoin. After Ethereum’s successful business in the digital currency trading, a significant portion of the DeFi industry is using the related blockchain of Ethereum to decentralise smart contracts. According to the current report on digital currency exchange the market capitalization of Ethereum has surpassed the amount of 316 million dollars and the value of Ethereum is 3,458 US dollars.
Chainlink
Chainlink is the eleventh most valuable Cryptocurrency that was launched in late 2017 by Sergey Nazarov. The actual aim of launching Chain Link is to offer permanent solutions for the oracle problem and also decentralisation of the same network that provides temper-proof off-chain data to operate any blockchain based complex smart contracts. The current market value of Chain Link is 47.58 US dollar. The complete market capitalization of LINK ( symbol of Chain Link) is more than 20 million US dollars at present.
