For a decade now, the newspaper industry has kept its economic pages centered mostly on Bitcoin. Why shouldn’t they? Bitcoin is the number one cryptocurrency because of its invention history, technology, large market cap, and worldwide usage. But, after a few years, some other cryptos have sprouted their heads up in the economic market. Today Bitcoin Prime is not the only currency that is famous. The other currencies are performing well enough to give Bitcoin a hard competition. In fact, they can even take the place of Bitcoin any day.
The first cryptocurrency bitcoin came into existence in 2009 by Satoshi Nakamoto. The innovation was unique and on top of that, being the first one it became popular. After bitcoin, many other cryptocurrencies have been created. We can find 18,000 cryptos in March 2022. Those currencies other than bitcoin are called altcoins together.
Bitcoin was the ruling currency for over a decade in the investment field. But some altcoins are improving their performance and attracting investors to invest in them. Today, in this article we will discuss three cryptocurrencies other than bitcoin that are gaining value as investment assets.
1. Ether (ETH):
Market cap as of 16 May 2022: $241 billion
Price as of 16 May 2022: $2,014
The cryptocurrency ether is the native cryptocurrency of Ethereum Blockchain. Vitalik Buterin launched Ethereum in July 2015. The Ethereum network supports smart contract functionality. The network consists of three different components or layers.
- The Ethereum Virtual Machine (EVM): It is the main decentralized application that accepts smart contracts the base of Ethereum Blockchain. The network is open-sourced.
- Ether: Ethereum is the native cryptocurrency of the EVM that has a real-world value that we can understand with the next component Gas.
- Gas: Gas is the fuel that the Ethereum network needs to run as a distributed network. The energy it spends can be compared to ether and thus, Gas is the amount of work that the EVM network does.
Ethereum is second on the list of popularity just after Bitcoin. It has a good amount of market cap. The Ethereum market is volatile just like the bitcoin market but it is considered to be a good investment.
2. Binance Coin (BNB):
Market cap as of 16 May 2022: $47 billion
Price as of 16 May 2022: $296
Binance coin is one of the best-performing cryptos today. It was introduced in July 2017 as a utility token through an initial coin offering event. The company’s strategy was very interesting which helped in its gaining popularity as quite new crypto. The ICO offered a maximum of 200 million tokens out of which it divides percentages for different purposes. 20 million was offered to angel investors, 80 million to the funding team, and 100 million to the other investors. Then, 50% of the total fund from ICO was used in Binance coin’s marketing, and around 30% was used in building the Binance platform and upgrading.
The currency was initially run on the Ethereum Blockchain. Later, they build Binance’s own Blockchain.
Binance coins are used for many purposes like payment, investment, making loans, credit card payments, booking travel arrangements, buying virtual gifs, and most importantly for investment.
Binance coin doesn’t have a large amount of market cap. But its value is increasing and it is proven to be a good investment. In 2021 Binance coin gained a 1,344% value. So, it is considered a good investment asset nowadays. Read the Binance review article for more information about this exchange
3. Cardano (ADA):
Market cap as of 16 May 2022: $18 billion
Price as of 16 May 2022: $0.57
Cardano is another cryptocurrency that has a good amount of market cap. The Cardano network is Blockchain-based. And, it can run smart contracts. Other features of Cardano include flexibility, sustainability, and scalability that make Cardano Blockchain useful for a variety of other businesses like other financial applications, playing games, running other crypto tokens, etc.
Cardano is the native cryptocurrency of the Cardano blockchain. It uses a proof-of-stake mechanism to prevent the double-spending issue. From 2021 Cardano is proving itself as good crypto to invest in.
These cryptos are performing well in today’s economy. So, investing in these currencies is going to be increased in the future. And, it will be easier with an investment platform like the Bitcoin Era.
