Bitcoin alternatives are growing bigger and bigger each year. So it’s important to know what the best of them are and how to capitalize on them!
We already know that there is a popular opinion that Bitcoin’s price could be driven by a race between cryptocurrencies. In other words, many people believe that altcoins are going to help boost Bitcoin and push its value even higher. So, it makes sense to ask: what are the best bitcoin alternatives?
Here are some of the contenders that have a decent chance to overtake Bitcoin over time.
As it stands, Bitcoin Cash is already one of the most popular cryptocurrencies on this planet. And it also boasts what could easily become the safest blockchain technology in existence today. If Bitcoin Cash can continue to improve its network security, there is no reason why it cannot become the best bitcoin alternative in 2021.
Litecoin’s development team has done a great job of establishing its brand over the years, and this digital currency is often considered to be one of the closest alternatives to Bitcoin available today. While Litecoin did not even exist until 2011, it has already become one of the most recognizable cryptocurrencies on this planet. And it is also the second-largest digital currency by market cap.
While plenty of altcoins have been successful, there is no denying that Ethereum has had a massive impact over the years. This decentralized app platform set out to establish a blockchain technology with smart contracts that could change the world. So far, it has done a pretty good job of executing this plan, and now many investors are betting on Ethereum as an alternative to Bitcoin.
Ethereum is set to launch Eth 2.0 sometime in 2020, which could increase its popularity even further.
As the world’s first decentralized autonomous organization, there is no denying that Dash has made quite an impact over the past few years. This cryptocurrency was created to provide instant transactions and private payments to users around the world, and it is one of the most popular digital currencies out there.
We all know that cryptocurrencies like Bitcoin and Litecoin have issues relating to scalability and speed of transactions — and even Ethereum is struggling with this right now. Fortunately, Ripple offers a fast and scalable network that can revolutionize the way we approach payments over the internet. And if this platform becomes popular among consumers, then it could easily become one of the best bitcoin alternatives in 2021.
Privacy coins are already some of the most successful coins on this planet — despite how much controversy they have caused in recent years. If a digital currency can help consumers achieve anonymity, then it is always going to be popular among people who want to buy and sell goods and services illegally. Monero already has a massive market cap of $3 billion, and it could well become one of the top altcoins in 2021.
Without a doubt, Cardano is one of the most promising competitors to Bitcoin. This open-source platform already has an impressive $3 billion market cap, and its advanced blockchain technology could help it match up with Ethereum in the near future. If Cardano can scale quickly enough to meet consumer demand, then it will become one of the best bitcoin alternatives in 2021.
Of course, predicting what is going to happen in 2022 is incredibly difficult. So, the best bitcoin alternatives could change over time. What do you think will become popular in five years? Will Bitcoin still be on top? Could another digital currency take its place? Let me know your thoughts in the comments below!