Top 5 Cryptocurrencies to Purchase after selling your Bitcoin investment: Bitcoin has been a an excellent investment over the years but it’s not the only cryptocurrency that has the potential to rise in value. With the rise more digital currencies available, traders are able to diversify their portfolios and make use of the new opportunities. If you’re looking for ways to increase your bitcoin trade to the next step, you should check for this top cryptocurrency exchanges. Five alternative crypto currencies you should consider selling you Bitcoin investment:
Litecoin is a cryptocurrency that is peer-to peer and open-source software project. The Litecoin cryptocurrency was one of the first Bitcoin alternative or altcoin that’s been around since. It’s an open source , global payment system, which is not governed by the central authorities.
Litecoin utilizes a different proof of work algorithm that is different from Bitcoin which is known as Scrypt which allows miners to identify blocks. This makes it possible for Litecoin to provide faster confirmation times for transactions and more efficient storage as compared to Bitcoin’s initial protocol.
The open-source global payment system allows you to transfer money from anywhere worldwide without cost, with minimal transaction costs and guaranteed processing time. Litecoin utilizes a different proof-ofwork algorithm as compared to Bitcoin that creates blocks four times faster than Bitcoin (2.5 minutes for each block). Its market cap is USD 4 billion and its current price is USD 70 for Bitcoin.
Vitalik Buterin launched the first decentralized smart contract platform in the year 2015, after he raised over 35 million USD through crowdsourcing in the Initial Coin Offering (ICO). The platform lets developers create dApps based on its blockchain technology that can save data for years without any downtime or resistance to censorship issues, just like bitcoin. It does not face these issues.
Ethereum employs Proof Of Stake consensus instead of an Proof Of Work consensus mechanism that allows it to be more energy effective than BTC mining algorithm, but also less secure since any person can create unlimited tokens by using the POS system, but when someone is desperate enough, they’ll take any action necessary to do. This includes taking power direct from the power line to create bitcoins, which is why they can’t make use of PoW any longer since there would be no way to stop them once these kind of people become sufficiently power hungry.
- This was the very first digital currency to utilize smart contracts and computer programs that perform commands in the event that certain conditions are met.
- Ethereum is the second most valuable cryptocurrency behind Bitcoin.
- Ethereum is by far the most favored platform to create applications that are decentralized (dapps).
Dash (DASH) is a cryptocurrency built upon the Bitcoin protocol. The cryptocurrency was introduced at the end of 2014, and it is situated in Canada. Dash is an open source, decentralized cryptocurrency that offers quick transactions (InstantSend) and secure transactions (PrivateSend) as well as token fungibility. Apart from being capable of being used as a payment method, Dash has its blockchain which allows for the creation of autonomous decentralized organisations or corporations (DAOs).
Ripple is a real-time gross-settlement system (RTGS) and currency exchange, and remittance platform operated by Ripple. It’s built on a common database which allows users to settle transactions with different currency in real time.
It allows banks to reduce up to 60 percent of costs per transaction, and also allows instant transfers between branches and affiliates. The company plans to integrate it into its other offerings, such as security settlement system.
Monero is a cryptocurrency that is secure as well as secure and untraceable. It was designed from scratch to be secure, private and inaccessible. Monero’s technology offers a significant benefit over Bitcoin in the area of privacy. The Monero blockchain conceals the address of the sender, transaction amount and time of transaction details. Contrary to Bitcoin’s public ledger system that is open-source but not anonymous, this system ensures your identity is kept private yet allows you to make transactions with other users of the chain. Every transaction that you make on the chain won’t be visible or tied to your personal information.
The five altcoins discussed above are among the most profitable options to invest in after you have sold your bitcoin or other cryptocurrency. If you want to trade in these currencies it is possible to use Bitcoin trading programs. They are a range of different currencies and industries and therefore, you can pick which one is the most appropriate for your requirements. I hope this article has helped provide you with an idea of which one is best for you!