We will talk about some other cryptocurrencies that are out there now besides bitcoins. If you already have some bitcoins, you probably know about them. If you consider choosing the best cryptocurrency among all then you can settle for Bitcoin as it was the first ever crypto introduced to the trade market. If you are planning to invest in bitcoin, here’s a guide on how to buy bitcoin safely in 2023.
So let us look at the other ones you should know about now.
Bitcoin Cash (BCC)
Bitcoin Cash is a fork of bitcoin, which means it came from the same source, but has slightly different features than bitcoin. The main difference is that Bitcoin Cash does not have the limit of 21 million bitcoins that bitcoin had, so instead of it being limited to 21 million, it can go all the way up to 16 billion. The coin was created in response to the fact that bitcoin had a hard fork that split the community into two groups.
NEM (XEM)
“NEM” is an acronym for “New Economy Movement.” It was created as an attempt to create a better blockchain than the other ones. One thing that makes NEM stand out is its use of the Proof of Importance concept. Proof of Importance is a way to ensure that you can trust transactions because multiple nodes in the network verify the transactions. This helps to prevent double-spending and other problems that can occur when using a single node.
DASH (DASH)
Another currency that we will mention is Dash. Dash is a peer-to-peer payment system that uses the cryptocurrency XCoin. The developers of Dash believe that the current banking system is not secure and should be replaced. The best part of Dash is its anonymity which helps consumers and traders even deal in international transactions at ease.
Cardano
Cardano is a new blockchain technology designed to provide secure and efficient transactions. It is built on the Satoshi Nakamoto white paper’s premise that digital coins should be created to incentivize users to maintain their ledger. Cardano also features a “smart contracts” feature, allowing developers to create custom contracts without writing code.
Ethereum Classic (ETC)
Another cryptocurrency that we will mention is Ethereum Classic. Like EOS, Ethereum Classic was also created by Dan Larimer. However, unlike EOS, Ethereum Classic doesn’t support smart contracts. It also has a much higher transaction rate than EOS.
Zcash (ZEC)
Yet another new currency is Zcash. Unlike other cryptocurrencies, Zcash doesn’t have a ledger that tracks all of the transactions that have happened.
Dogecoin
A cryptocurrency called Dogecoin was introduced in 2013. It is designed to be used by people in Japan, which explains why the currency is called Dogecoin. It was a joke at first, but the name of this cryptocurrency eventually caught on, and it started to gain popularity around the same time as Bitcoin.
PIVX
PIVX is a cryptocurrency that was launched in 2016. It was created as a clone of Bitcoin, but it has since moved away from being just a clone. Instead, it’s designed to be both decentralized and private. It also allows users to take complete control of their funds.
Stellar Lumens (XLM)
Like Litecoin, Stellar Lumens is a peer-to-peer cryptocurrency launched in 2014. It’s an open-source platform that can create decentralized apps and smart contracts. Unlike the other cryptocurrencies on this list, Stellar Lumens was created by a company called the Stellar Development Foundation.
Litecoin
It’s similar to Bitcoin, but it’s faster and more scalable. Because of this, it tends to be used by those who need to move large amounts of money quickly. It’s also one of the few altcoins with a community behind it dedicated to maintaining its network. This is a huge plus, as it shows that people are invested in the success of this coin.
TRON
TRON was developed by Justin Sun in 2018, and it is a decentralized application platform that allows content creators to distribute their content directly to their audience. Tron was created to address the issues of censorship and content distribution that exist within the current web.
Final Words
It is clear that there are a variety of cryptocurrencies available beyond Bitcoin, each with its own unique purpose and features. All the popular as well as the underrated cryptocurrencies do have the potential of making the financial market to invest in. As cryptocurrencies continue to gain traction and become more widely accepted, it is important to stay informed about the various options available. With the right research and knowledge, investors can make the most of the opportunities that cryptocurrencies offer.
