Beyond Bitcoin: Should You Invest in These Other Cryptocurrencies?
You may already have heard a lot about bitcoin, as it’s one of the most popular cryptocurrencies to date. But what about other less-talked-about cryptocurrencies? Many cryptocurrencies like Ethereum, Litecoin, Polkadot, and Binance Coin are also available in the market, and its high time you broaden your perspective and consider investing in them to make money online.
Here are some other cryptocurrencies and our opinion on whether or not you should invest in them.
Many cryptocurrency experts consider Ethereum as a Bitcoin alternative, and rightly so, as it’s the second-largest digital currency after Bitcoin. It’s a decentralized software that allows you to run cryptocurrency decentralized applications without third-party interference. Since the goal behind Ethereum was to create a cryptocurrency that people from any nationality could use, it makes it a reliable investing option in most countries.
Ethereum technology is the base of many blockchain applications, and most crypto experts believe that Ethereum will play a major role in the future of finance. Therefore, investing in Ethereum now is a wise choice, as it’s a potentially growing platform. However, Ether (the Ethereum currency) is more volatile than bitcoin, and you shouldn’t risk investing a large amount in the first go.
Many cryptocurrency experts like to refer to Litecoin as the silver to Bitcoin’s gold, as Litecoin is the first currency based on the Bitcoin model. Litecoin is currently the 22nd largest cryptocurrency globally and has a market share value of $9 billion, indicating that the currency has grown significantly since its launch in 2011.
Moreover, one token of Litecoin costs $130, which means that even people who want to invest a little money in cryptocurrency can take advantage of it. Moreover, Litecoin transactions are 4 times faster than Bitcoin, and around 3,070 businesses accept Litecoin as a form of payment. For crypto investors looking to invest in something other than Bitcoin, Litecoin is the right option.
The developers behind Cardano (ADA) did extensive research and experiments before developing this currency. Moreover, they have also written 120 research papers on Cardano, which makes the currency a reliable option. It’s also called Ethereum killer since its technology is giving Ethereum a run for its money!
It has the seventh-largest cryptocurrency market share of $37 billion, and people who want to learn more about blockchain should give this a try. Moreover, a Cardano token is equivalent to $1.15, which means you won’t lose much.
However, you should never risk investing in cryptocurrency without following crypto and bitcoin updates for beginners. At Urban Crypto, we have a beginner's guide for cryptocurrency that explains how to make money with cryptocurrency.
Visit our website today for simple crypto news and markets guide.
This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links at no cost to you. Please read my disclosure for more info. Clicking any of the links on this website does not increase the cost or affect the price for any item you purchased. Our main purpose is for informational purpose and not for just earning 🙏
Things to avoid while trading crypto
TOP 50 COMMON MISTAKES
NEWBIES MAKE THAT CAN BE AVOIDED!