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Don’t Miss: Major Cryptocurrencies Other than Bitcoin

Cryptocurrency

People are crazy to invest in bitcoin because it is the most famous and beloved cryptocurrency. But you will be happy to know that there are other cryptos that have recently risen to fame and are being used as a great investment asset. It is good to invest in bitcoin. It is also easy through some benefits of bitcoin but, if you want a diversified investment portfolio, these cryptos will serve you well.

Top 5 Cryptocurrencies to Invest in Besides Bitcoin

  • Ethereum (ether): Ethereum is a Blockchain-based network, just like Bitcoin. It is decentralized and open source. This means that no government or bank can enter the network to control it. But, with huge similarity, it also has some differences with bitcoin. Tn Ethereum, the network is the Ethereum network and the native cryptocurrency is ether. They also work in different ways than bitcoin. Let’s understand it.

In the Ethereum Blockchain network, there are three components or layers.

  • Ethereum Virtual Machine (EVM): It is the network here that is decentralized and that is the main application that we understand when we call the name Ethereum. As it was built on Blockchain technology, it provides a distributed ledger system where transactional data is stored in blocks and this is how the network spreads. The network is configured so that it can operate automatically when the particular input is triggered. This is called the smart contract facility that it provides.
  • Ether: Ether is the native cryptocurrency of the Ethereum network that passes through the EVM. Being a complete online currency, ether has a connection to the real world according to its valuation. You can understand it clearly with the nesting point.
  • Gas: The distributed Ethereum network needs energy to function or operate as to complete a transaction. Here the amount of work is called gas and the energy is ether. Ether is essentially a transformed version of energy. It therefore has real value.

  • Dogecoin (DOGE): It is another popular cryptocurrency which was launched on the 6the December 2013 by two software engineers Billy Markus and Jackson Palmer.

The creation of dogecoin has a somewhat funny story. After the innovation of bitcoin in 2009, people showed their speculations about it. At that time, these two software engineers planned to create a cryptocurrency as a joke to the controversy that revolved around the innovation of bitcoin. They wanted to develop a much better currency than bitcoin. They succeeded in their move and chose the face of the dog meme, the Shiba Inu dog, as their cryptos logo. It was then launched in 2013.

Although it was created as a joke, to some extent dogecoin really works better than bitcoin. A dogecoin transaction takes less than 2 minutes for a transaction and costs around $2, which is less than Bitcoin.

  • Stellar (XLM): The interesting thing about stellar is that it is not cryptocurrency itself and it facilitates transactions from banks and other payment systems. The cryptocurrency here is XLM which circulates through the stellar network and facilitates banking transactions by converting crypto into fiat currency. At the time of the digital transaction, XLM is transferred and transformed into fiat currency to be deposited in banks.
  1. Binance Coin (BNB): Binance Coin is a Blockchain-based cryptocurrency that originally ran on Ethereum Blockchain, but now runs on its own Blockchain, Binance Chain. It facilitates quick transfer of funds and is also a great asset for investment.
  • Peas (POINT): The Polkadot cryptocurrency has recently become famous. It was created in 2017 by Gavin Wood who was one of the co-founders of Ethereum.

The Polkadot network is quite different from other cryptocurrency networks. It is also a Blockchain-based network, but multiple blockchains are present and the cryptography allows for cross0blockchain transactions. The network has all the features of a decentralized network, such as no third-party interference and an open-source network.

Conclusion

So, these were some of the top performing cryptocurrencies you should know about. These cryptocurrencies have been doing well for a few years. So, you can surely include them in your investment portfolio. You just need to check their market price and future potential when buying them.


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