Important Cryptocurrencies and What to Learn Other Than Bitcoin

Traders who are new to cryptocurrency will always see Bitcoin as the iconic symbol in the blockchain’s decentralized peer-to-peer network. Making it the only trendsetter, the price of each coin in the market will astound new traders and investors upon entering the market.

Technology will always be together with innovation nowadays. The creation of new coins to be recorded in the blockchain will continue alongside other inventions no matter what the world’s situation is right now. As a result, traders are exploring other cryptocurrencies available on the market.

The cryptocurrencies listed are the ones that have expanded and endorsed newer features compared to Bitcoin.

Ethereum (ETH)

This cryptocurrency is the home for creations. Ethereum, now more than a currency, is a decentralized blockchain ledger with an open-source platform compared to Bitcoin. Ethereum motivates inventors to create and build newer applications and other cryptocurrencies. Downtimes, manipulations, and fraud will never interfere with the smart contracts and decentralized applications (dApps) of Ethereum.

Dogecoin (DOGE)

Dogecoin, just created as a joke, broke the headlines in the crypto community. When Dogecoin stirs the discussion, Elon Musk’s name joins the bandwagon. Investors and traders should not be fooled by this “Memecoin” as it is now officially used as a form of payment by some companies.

Binance Coin (BNB)

The famous Binance Coin is the native cryptocurrency coin of Binance Cryptocurrency Exchange—associated with every transaction. Holding market capitalization as the third-largest will never give traders a doubt to use Binance Coin. 

XRP (XRP)

Formerly named Ripple, XRP aimed to enable transfers instantaneously in 2012. Made for digital transfers, XRP can be more than it is presently to process global payments. The cryptocurrency can be helpful in transactions in other real-world currencies.

Cardano (ADA)

Cardano should be on top of the cryptocurrency worth investing in when users search for a more sustainable and balanced coin. This cryptocurrency came to light with a research-based approach with a technology called “Ouroboros.” Cardano’s blockchain is in “proof-of-stake,” a mechanism that selects random validators to validate transfers with collaterals.

Litecoin (LTC)

Known as “silver to bitcoin’s gold” or “bitcoin spin-off,” it is quicker and more advanced than Bitcoin. Litecoin is a decentralized cryptocurrency, not manipulated by anyone, thus making it open to the public and transparent. Don’t underestimate this crypto, as several merchants will support Litecoin.

Tether (USDT)

Tether is known for attempting to smoothen out price fluctuations in recent years. It was widely famous for being one of the so-called “Stablecoins.”—this caught the attention of traders who avoided volatile cryptocurrencies.

Stellar (XLM)

Designed to provide for enterprise companies, Stellar enters the game by giving a solution through making a bridge to financial institutions. While it is known to the industry to take several days for both banking institutions and investment firms to process transactions, both can everything can be done instantaneously with Stellar’s blockchain network design. Compared to the typical fees that it takes, it now costs a small amount to nothing.

Polkadot (DOT)

Polkadot is a cryptocurrency that connects blockchain technology with multiple cryptocurrencies. This interoperability feature by Polkadot makes itself known and popular worth looking for users who seek other crypto coins.

Avalanche (AVAX)

Among any other cryptocurrency compared to Avalanche, its blockchain offers fast and low-cost smart contract-based transactions. Avalanche Acquired it to be the fastest in the blockchain industry. With time-to-finality measurement, the eye-catching cryptocurrency placed itself for last year’s year-to-date top cryptocurrency performers.

USD Coin (USDC)

Think of the dollar itself but in a digital form. Pegged to the US Dollar, it is a well-known “Stablecoin.” USD Coin will be a good and fresh start for users who want to trade in cryptocurrency exchange with their first newly-bought crypto coins.

Which one is it for you?

Among these mentioned cryptocurrencies, it is still best to consider giving ample time for background research of each one. Further knowing its nature and features, never forget to check the price-tracking website for crypto assets. 

Sources

• Cryptocurrency – Wikipedia
• 10 Important Cryptocurrencies Other Than Bitcoin
• 12 Most Popular Types Of Cryptocurrency | Bankrate
• Most Popular Types of Cryptocurrency | NextAdvisor with TIME
• What is the Difference Between Ethereum and Bitcoin?