If you’d purchase $1000 worth of bitcoin 1 year ago, today you would have over $25,000. It may not go up that much any more, but here are 5 other cryptocurrencies that could!
Bitcoin is by no means the only cryptocurrency, and many believe it isn’t even the best.
So, what are the alternatives?
While there are lots of possibilities, here are 5 for under $100 each that have a good chance of breaking well above their current valuations.
Rather than relying on “miners” to validate transactions like Bitcoin does (making it expensive as miners collect fees), IOTA asks anyone transacting the currency to validate 2 other random transactions. This makes it free, completely decentralised, and also means that the more people who use it the faster it gets! Transactions are instant on the IOTA network and also, unlike Bitcoin, the network is infinitely scalable.
IOTA has made some interesting partnerships with the likes of Volkswagon, Fujitsu, and Microsoft.
It is currently worth around AUD$7 per coin, with a market cap of $20 billion, making it the 6th largest cryptocurrency.
IOTA has a good chance of going well over $1000 in the next few years, so get some now while it’s still cheap!
NEO, unlike other cryptocurrencies which are generally anonymous, has been developed to meet both government and private sector regulations through the use of smart contracts to track digital identity and assets.
The main goal of NEO, developed mainly in China and in accordance with Chinese government protocols, is the creation of a financial system that will combine real assets in the digital world – things such as shares, financial contracts, creditors notes, etc.
NEO is also exceptionally fast – able to handle up to 1,000 transactions per second (unlike Ethereum, say, which can only handle 15)
NEO is currently trading for around AUD$98 per share with a market cap of nearly $6 billion.
ARK is a blockchain technology that aims to bridge the gap between many others – such as Bitcoin, Ethereum, Lisk and more. Instead of requiring users to trade between these different currencies, ARK will be able to bring them all together.
ARK’s infrastructure is also designed to be incredibly fast and lightweight – one of the fastest of all the different altcoins.
Apart from this, ARK also has a decentralised leadership model, which will allow ARK owners to essentially vote on the future of the ARK ecosystem.
All up, an exciting cryptocurrency, and one definitely worth watching.
At present it’s worth around AUD$11, with a market cap of nearly $1 billion.
QTUM developers have taken the best of Bitcoin and Ethereum and blended them together to create a crytpocurrency that is as reliable as Bitcoin but as flexible as Ethereum.
It is another cryptocurrency, like ARK, that can act as a bridge between various other currencies. All in all, it has many qualities that make it perfect for everyday business use cases, and its developers believe this is where its strength lies.
QTUM is currently trading for around AUD$82 per coin with a market cap of over $6 billion, making it the 13th largest cryptocurrency.
Cardano is very well explained by this video:
Cardano is currently trading at around AUD$0.70 per coin, with a market cap of $17 billion, making it the 7th largest cryptocurrency.
Nobody really knows what will happen with the cryptocurrency market – but one thing is for sure and that is that it’s an exciting technology which is bound to make huge changes to many different industries – from banking, to legal, to government, to the internet itself.