Just because Bitcoins were the oldest Oil trading futures in the market, it does not mean that no other cryptocurrency has the potential to become people’s favorite of all time. In case you do not know, but there are 17000 other types of alternative coins in the digital market besides Bitcoins.
Hence, if you ever feel the necessity of focusing on any other coin than bitcoins, then other options might include, Ethereum, Litecoin, Ripple, Dogecoin, Tether, etc. These alternative coins are the ones which are popularly known as Altcoins. However, considering the huge number of variations available in the crypto segment, it might become impossible for you to focus on one crypto. To help you in the process, the following article discusses on the top 7 Altcoins which you would find in the list top. You can perform adequate amount of research on each one every now and then at first. Once after finding the most suitable one at good rates, you can settle for it at once.
Things you did not know about Altcoins
As the name suggests, Altcoins are the alternative coins which are quite different from the oldest and most famous crypto, Bitcoins. Because Bitcoin has been around for so long, it’s become synonymous with cryptocurrency in general, which is why most people don’t know what altcoins are or what they do.
An example of altcoins would include Ether, if you’re the more tech-savvy kind or want something that doesn’t slosh around on the current mood of investors. You could even go for XRP, if you caught all the recent drama about Ripple Labs (the creator of XRP) and the SEC.
What Are the Types of Altcoins?
Here’s a short rundown of the most important types:
1. Stablecoins
Stablecoins are cryptocurrencies that have low volatility and are meant to be used for everyday purchases. Other stablecoins include TrueUSD and MakerDao’s Dai (which is also pegged to the US dollar).
2. Altcoins which you can mine The segment of Altcoin not only depends on the developers but also the professional miners to some great extent.
In order for you to mine any cryptocurrency, you need an ASIC miner—a special piece of hardware designed specifically for this purpose. You can buy these coins on any well known exchange like Bitcoin Era – just make sure you’re hedging your risks!
Examples of mining-based altcoins include:
- Ethereum (ETH)
- Zcash (ZEC)
- Monero (XMR)
3. Security Tokens
Security tokens are cryptocurrencies that represent ownership in a real-world asset. They’re typically backed by things like equity, bonds, and real estate. An example is Polymath (POLY).
4. Memecoins
These can be anything from lolcats and doge to cats wearing top hats and bananas with glasses. Examples of meme coins include Pepe Cash (PEPECASH) and Dogecoin (DOGE).
The top trending Altcoins in the market Below, are listed some of the best altcoins you can buy today:
- Bitcoin Cash (BCH): Bitcoin Cash is one of the most popular altcoins available right now—and for good reason. It’s a hard fork of Bitcoin that allows faster transactions and lower fees than BTC does. It’s technically Bitcoin, we know, but it deserves to be on this list!
- Ethereum (ETH): Ethereum is another popular altcoin that’s used to pay for smart contracts and other online services. It’s also one of the most valuable cryptocurrencies in the world right now, so if you’re looking for a long-term investment opportunity, this might be it!
- Litecoin (LTC): Litecoin has many of the same features as Bitcoin—it’s decentralized and can be used to purchase things online—but it’s faster and cheaper than BTC is.
- Tether: Being a new member in the crypto world, you might not know but Tether is more of a stablecoin. It’s great for people who want to invest in cryptocurrency but don’t want to worry about fluctuations in the market.
- Stellar Lumens (XLM): Stellar is a platform for building financial apps and services, similar to Ethereum.
- Dogecoin (DOGE): The world’s most well known memecoin, DOGE has a market cap of $18 billion, coming out ahead of thousands of more well known, serious coins.
If you’re looking for a long-term investment opportunity or something backed in real-world uses, then Ether is a great choice. But if you want a stablecoin that’s backed by USD, then Tether could be the best option for you.
