There’s no doubt you have heard about the lucrative opportunities that cryptocurrencies offer. Whether you are considering investing and enjoying potentially high profits long-term, or you are contemplating delving into the world of crypto trading, you need to know what your options are.
Even though bitcoin is undeniably the leading digital currency, and it is highly unlikely this will change anytime soon, there are several other alternative currencies to consider. However, should you decide to settle on bitcoin as your chosen currency, you should evaluate apps and platforms that will simplify transactions. From crypto exchanges to e-wallets, and platforms that will help you find bitcoin atm locations, you will need apps to assist you on your journey as a crypto user.
If you are relatively uncertain which digital currencies are chasing bitcoin for the top spot, the following innovative cryptocurrencies are close competitors.
Litecoin: Most Trusted Crypto
Litecoin is a close competitor for bitcoin as this currency boasts a significant market cap along with exceptionally high liquidity. The broad market cap massively reduced the risks of investing in this currency in comparison to other coins with a smaller market cap. What’s more, there are far more Litecoins in existence when compared to existing bitcoins, suggesting that popularity increase is impressively steady. The enormous amount of coins in existence is likely the result of significantly faster coin mining. To date, this coin is also considered one of the most trusted cryptocurrencies on the market, rendering it a safe choice for first time buyers, investors, and traders.
Ethereum: Best Stability Prediction
Ethereum has long been considered bitcoins closest competitor in the world of cryptocurrencies. Even though this digital currency is second to Litecoin in terms of liquidity, it boasts the best stability prediction. The long-predicted stability of Ethereum is based on the currencies loyal community and renowned team. Therefore, this crypto is one of the best choices for budding investors who are after stability for years to come.
BAT: Most Consistent Newcomer
BAT (Basic Attention Token) may be a cryptocurrency you have not yet heard of; as it is a lucrative newcomer to the market. The currency has, however, made impressive leaps between 2018 and 2020 in terms of popularity and consistency. While countless other coins have showcased short-lived popularity, BAT is expected to drive remarkable growth when it comes to value in the next few years. Therefore, it is an exceptional choice for investors and traders who are after a currency that can indeed be taken advantage of.
Choosing The Best Crypto For You
While it is essential to know which cryptocurrencies are chasing the bitcoin, your choice of crypto should be based on your intentions. If you are hoping to invest, fast accumulating and consistent coins will be best while high liquidity is another crucial factor to consider. Alternatively, traders should pay close attention to volatility factors for leading cryptos when making trades to take advantage of profitable gains.
On the other hand, those who are hoping to buy into crypto to use the currency for transactions and payments should opt for accessible coins such as bitcoin. As bitcoin continues to lead in popularity, you will have maximum buyer power with currencies such as bitcoin.
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