In the world of cryptos, Bitcoin has been the King for a long time! But with every passing year more and more such digital currencies have emerged and given tough competition to it. From the ocean of altcoins, it’s almost impossible for a person to select which ones are the best for investment. There almost 2000 altcoins out there, speaking of January 2020!
Let us examine some of the most important altcoins which you can swipe based on their popularity, value and exchange rate. .
Ethereum was launched in 2015 and is currently the second largest digital currency, after BTC, despite lagging behind by a huge margin. Like Bitcoin, Ethereum is also a decentralised digital currency which is known for its security from third party interferences and strong anti- fraud measures.The cryptographic token is called Ether (ETH) on which all the applications run . If a developer wants to run applications inside the platform of Ethereum, he would require Ether.
Ethereum is used to decentralize, codify, secure and trade stuff. In the first week of January 2020, ETH stood at $142.54 per token, with a market capital of $15.6 billion.
Launched in 2012, Ripple is a real-time international settlement network. It offers instant, precise and affordable international payments. Ripple “enables banks to settle cross-border payments in real-time, with end-to-end transparency, and at lower costs.” Unlike Bitcoin and some other Altcoins, Ripple’s consensus ledger doesn’t require mining. All of Ripple’s XRP tokens were “pre-mined” before launch, so you cannot create XRP but only use and consume, thereby reducing the usage of computing power and minimizing network latency. In this way, Ripple sets itself apart from bitcoin and many other altcoins.
Ripple has been successful so far. By the end of first week of January 2020, Ripple had a market cap of $9.2 billion with a per-token value of $0.21.
If Bitcoin is gold, Litcoin can be called silver. With an intent to follow the footpath of Bitcoin, Litecoin was launched in 2011. It was created by Charlie Lee, who happens to be a MIT graduate and former Google engineer. Litecoin is also an open source global payment network which is decentralised. In comparison to Bitcoin, Litcoin has a faster block generation rate. Litcoin held a market cap of $3 billion in the first week of Jan 2020 giving it the status of the sixth largest cryptocurrency in the world
Monero is an open source cryptocurrency, which is secure, private and untraceable. This was launched in April 2014 and eventually became popular among crypto investors. The development of this cryptocurrency takes placed based on donatiions and depends on the community. Monero focuses strongly on decentralization. With a special technique of “ring signatures”, it maintains its privacy. interest among the cryptography community and enthusiasts. It’s per token value revolves around $57 as of January 2020.
Being one of the first and most popular member of so-called stablecoins, Tether is the type of cryptocurrency which aims to peg their market value to a currency or a reference in order to reduce volatility. A major drawback of digital currencies is that they experience unexpected periods of dramatic highs and lows in market value. Tethertattempts to bring fluctuations down in order to attract users who may otherwise be hesitant to invest.
Launched in 2014, Tether describes itself as “a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.” On Jan. 8, 2020, Tether was the fourth-largest cryptocurrency in terms of market cap that was $4.6 billion and a per-token value of $1.00.
Hence , these are few of the best altcoins to swipe based on the current scenario of the crypto world. But again, due to the enormousity of the digital currencies, there are many other reliable altcoins available, which may become popular with time! You just have to wait and invest wisely.