Top 6 Bitcoin Alternatives – Best Cryptocurrencies to Buy Now

Last updated on July 11, 2020

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Bitcoin is undoubtedly the number one cryptocurrency, according to market capitalization, price and popularity. But, that doesn’t mean that other coins go for nothing.

Considering the latest challenges Bitcoin has been going through, there’s progressively more sense to buy  ‘bitcoin alternative coins’, which are Altcoins. Never hurts to diversify, right?

Bitcoin will for long remain a profitable investment and the most traded asset at any Bitcoin exchange, but let’s be honest, technologies implemented in certain Altcoins are much more advanced and provide users with more features and greater performance.

This article will demonstrate how manifold the sphere is today by reviewing the top six Bitcoin alternatives in 2018.

But, first, two notes: 1) The sequence of cryptocurrencies covered in the article is random and doesn’t present any comparative rate.

2) Here you won’t find any specific price predictions, only speculations based on information given in the article.

1. Ethereum

It would be strange not to see Ethereum in the list. If you’re really into cryptocurrency for at least a month, you definitely know that it is the second most popular brand in the sphere.

Over the past year, the price of Ether token has increased from $8 to as high as $1500. Meanwhile, the current rate has stabilized on the point of $883 (on February 27).

Bitcoin introduced the concept of Blockchain and, at a time, was the only decentralized network of its kind, where you could transfer value.

Ethereum was the first to successfully implement a so-called Blockchain 2.0 technology, which gave birth to smart contracts, where transfer of value became programmable.

It made it possible for the appearance of the blockchain-based crowdfunding campaigns, which are now called ICOs. More than that, you can even find games that run on the blockchain of Ethereum, a good example is CryptoKitties.

Investors pin great hopes on Ethereum, because it was the one to open the gates for blockchain-based applications, which is the future of software development.

2. Dash

Dash doesn’t presume any smart contracts. It is a pure transaction network.

The aim of this coin is to be the digital cash: fast, private (if it needs to be private) and ease of use. And that’s what the team behind Dash is successfully managing.

The network of Dash ‘consists of two layers’. The first one works similar to Bitcoin: senders, receivers, transactions, miners, etc.

The second layer are Masternodes that are assigned to do a more specific work, which makes Dash as unique as it is. [What the heck are masternodes? You’ll find a great guide here)

          Fast

InstantSend is the feature that, literally, allows you to send your money in a second. It is made possible due to the ‘second layer’ of the network, where Masternodes process your transaction ‘out of turn’.

          Private

PrivateSend allows for, you guessed it… private transactions. It’s an optional feature you can turn on if you wish to stay unknown. This is also made possible with the aid of Masternodes.

          Easiness

Dash team is working hard on implementing cryptocurrency in our everyday life and introducing it to the whole world.

So, their next step is the release of Dash Evolution. It’s a code name for the software that will let end users deal with cryptocurrency as easily as using social media.

3. Monero

Monero is one of the most popular privacy coins. In contrast to Bitcoin, you cannot see the transaction information: who sends the money, how much and when.

This works great with commercial organizations, because they don’t want their competitors to have a potential possibility to track their financial flows. The privacy in Monero is attained by virtue of ring signatures.

In plain language, the network mixes the coins of all users, by, kind of, assigning your tokens to different people and vice versa. On the output, every single piece of coin reaches the proper destination, but no one knows where it came from.

Another feature that’s worth mentioning about Monero is a built-in scalability. You have probably heard of what challenges Bitcoin is facing right now.

It simply cannot handle so many transactions, that’s why users have to pay additional fees if they don’t want their transactions to be approved in a week or even more. The team behind Monero has been working hard to make it truly scalable.

So, the system doesn’t limit the size of blocks, but on the contrary, adjusts it accordingly with the number of transactions occurring in the network, which, besides the point, increases exponentially due to the high popularity of Monero.

4. Neo

Formerly known as Antshares, Neo is today considered the Chinese version of Ethereum, others even calling it an ‘Ethereum killer’. It is also the first open-source blockchain platform in China.

Like Ethereum, Neo works with smart contracts. The distinction, though, is that Neo aims to go further and build a decentralized platform with smart economy. It includes:

  • Smart contracts. Self-executing programs similar to those in Ethereum. The difference is that with NEO, developers have the possibility to write smart contracts with Java or C#, which is totally an advantage, because you don’t need to learn Solidity (programming language in Ethereum) just to write a code for the smart contract.
  • Digital Assets. Two of which are:
  1. NEO, which exclusively acts as an investment coin that you can buy on exchanges. It’s important to note that this token is indivisible, so you cannot buy 0.5 NEO. Some exchanges divide the token virtually for their users to trade, but that means that you cannot withdraw NEO as long as it’s fractional.
  2. NeoGas— internal token which is a fuel for NEOs ecosystem: blockchain, Dapps, smart contracts.
  • Digital Identity. That’s how we’ve come to Neo’s major distinction. Smart economy implies the possibility for people to easily cooperate with each other and real physical assets (such as diamonds, sand, construction materials, etc.) directly on the blockchain. That’s why this ‘digital economy’ includes the ability for you to make a digital identity of yourself. It has the potential to bring blockchain to a whole new, you could say, industrial level, where regulators don’t stand in the way, because the ecosystem is open for cooperation.

5. Ripple

Ripple is a digital currency and an open payment system. The debates on whether it’s a cryptocurrency or not still continue.

However, it didn’t change the fact that traders and investors who bought it at less than one dollar enriched themselves greatly once the price skyrocketed to $4. Anywho…

Related Article:

Should you still buy bitcoin in 2018?

The Mycelium wallet review

How to buy bitcoins from LocalBitcoins in Kenya?

Ripple aims to become a global system for international payments among banks. The disadvantage crypto community points to, is that it’s not really decentralized and not really a Blockchain.

They are right, but Ripple wasn’t designed to be a cryptocurrency. It is a payment system that aims to become more and more decentralized as it develops.

For now, it is a beta network, it is centralized, but it already processes international transactions for banks and does it great.

Current price for one XRP has dropped to as low as $1.

Still, some investors consider the rate to leap as high as $40 in 2018, but that’s completely unverified, at least because Ripple is not really a cryptocurrency, so it’s much trickier to predict where it will go.

6. EOS

‘Ethereum On Steroids’ —  that’s how some people call it. As you could guess, EOS is another Ethereum-like platform focused on smart contracts.

You may ask: “What’s unique about it, if we already have NEO with some sufficient advantages against Ethereum?”

Well, it turned out that the field of creativity in the Blockchain applications is vast and Dan Larimer —  the creator of EOS —  is the one to successfully apply it.

First off, let’s define the key issue about EOS. It doesn’t exist yet. It’s only a project at the stage of fundraising, that’s being done through ICO (which, in fact, is held on the Ethereum platform). EOS Ico??

The team has assertively announced that EOS will eliminate fees as such and will be able to process over 50,000 transactions per second.

All this will be achieved through the unusual ecosystem, which will consist of data centers, similar to Masternodes, that would be elected by the network participants. This means that the network will be designed in a way to upgrade itself in due course.

So that eventually it will have the potential to process over a million transactions per second.

The smart contracts in EOS can be written in any popular programming language like Java or C++.

So, considering all the above-mentioned, it can be said that EOS aims to become a broadly-used decentralized network for blockchain-based applications.

The plans are challenging, but considering how much funds EOS has already raised, it seems that people have great hopes for Dan Larimer and his team.

The diversity of products and their functionalities in the cryptocurrency sphere is impressive.

It can be quite challenging figuring out which cryptocurrency to buy. A good advice is to allocate your funds across the favorites and remember: never invest more than you can afford to lose.

This is a guest post by Mary Callan.

Her bio ” As an expert on Bitcoin-related topics, I’ve found myself as a Journalist at Cex.io – cryptocurrency exchange. I’m working on articles related to blockchain security, bitcoin purchase guides or bitcoin regulations in different countries.

About the author

Virginia Nakitari is a work from home mom passionate about making money online. She's here to show you legitimate companies offering full-time, part-time and remote jobs from home! Stay tuned!

  • I rarely miss out updates from this lady. It’s about time we embraced online self-employment.
    I just heard about this and I noticed there’s a currency (bitcoin) that is 1000 times more expensive than a dollar and guess what? I joined.
    If you doubt it exists, try booking a flight with Virgin Atlantic and they will give you an option of paying with bitcoin. Good piece.

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