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Bitcoin is undoubtfully the undisputed leader in cryptocurrency. All the other coins are operating in its shadow. It is common for users to confuse cryptocurrency for Bitcoin and vice versa. The dominance comes at a price, though. Bitcoin is quite expensive and only ideal for the ardent traders. That is not to say the other smaller traders can’t have a piece of the crypto economy. 

Here are some of the other essential cryptos to consider excluding Bitcoin;

1.    Ethereum 

Launched in 2015, Ethereum has grown to become the second most valuable crypto coin after Bitcoin. It is a decentralized network for making apps through Decentralized applications (DApps) and smart contracts. The coin uses its token, Ether, as the medium of exchange within the platform.

Ethereum has been a success due to its several applications. Most developers are looking to fully own their products, devoid of regulation or interference from a third party. 

After a successful Initial Coin Offering in 2014, attracting several investors, the coin has kept a steady growth. It currently runs a tenth of the crypto market. 

2.    Litecoin (LTC)

Often referred to as the “Silver to Bitcoin’s gold,” Litecoin is one of the earliest coins after Bitcoin. The platform uses an open-source payment system without a central controlling authority. It uses a proof of work to validate transactions. 

One of the benefits of Litecoin is the faster transaction speeds due to the more rapid block generation. These speeds have seen it become a preference for most traders.  

The current market volume of Litecoin is $2.08bn, with a capitalization rate of $3bn.

3.    Ripple (XRP)

Ripple is one of the digital coins that has received little resistance from traditional financial institutions. The coin is both a currency and a trading platform. It is designed with an open-source protocol to ensure fast and affordable transactions.

Other than its currency (XRP), the platform allows other users to trade and exchange different currencies. XRP is also quite flexible to accommodate cross-border, and international transfers of multiple fiat currencies. 

The coin, launched in 2012, has a market supply of $43bn with a market cap of $12.7bn. The coin also charges low commissions that make it a favorite for most financial institutions. With an average transaction taking 4 seconds to complete, the coin is extremely fast compared to the banks.  

4.    Bitcoin Cash (BCH)

Bitcoin Cash is an essential cryptocurrency in the market today as it ushered in the age of folks. It was created after a successful result of a hard fork of Bitcoin. Unlike bitcoin that had hardliner regulations to keep transaction speeds blocks low, the Bitcoin cash team had to scale ideas.

The successful hard folk has seen Bitcoin increase the block size from 1mb by Bitcoin to between 8mb and 32mb. Unlike Bitcoin that allows a maximum of 1500 transactions per block, Bitcoin Cash supports up to 25,000 transactions in a block. These changes have increased the operations speeds in the coin, which acts as its selling point.  

Bitcoin cash's current value is $251, with a market volume of $15bn and a market cap of $4bn. 

5.    Monero (XMR)

Security is one of the most pressing concerns in the crypto world, which is what Moreno seeks to alienate. Monero takes pride as one of the most secure, private, and untraceable cryptocurrency. The decentralized cryptocurrency allows distributed consensus from multiple network operators.  

Monero uses ring signatures to disguise real transaction details that keep it safe from breach of privacy. Obscuring the address also makes the transactions untraceable or linked to any specific user. 

The coin token currently trades at $65, with a market cap of $1.45bn.  

6.    Binance Coin

Binance Coin is the token used in the Binance platform. The token has grown in recent times due to the several functionalities. 

It is applicable in multiple transaction chains. It is also usable as a means of exchange on all Binance transactions and several other in-house and outside transactions.

The other ways to use the coin include paying BnB, buying virtual gifts, travel expenses, and many more.

The token's current market value is $16.47, with a market cap of $2.4bn and a trading volume of $166m.

7.    Libra (LIBRA)

It might seem ironic that a coin yet to launch is already on this list when there are thousands of coins on the market. Well, from all the hype garnered by the markers of this coin, it definitely must shine.

With the worldwide and ever-expanding reach, Facebook is behind the Libra. With the already billions of users on social media, the site will not struggle to obtain users. It also promises more security with a permissioned platform. 

While there have been multiple rumors on the launch date right after the company released the white paper, otherwise, it seems the earliest the coin will be out is later in the year.

8.    Tether (USDT)

Anyone looking to avoid the volatility that comes with the crypto world is better off with Tether. Created with the main aim of controlling the price fluctuations when trading in cryptocurrency, the coin pegs its value on fiat currency. Its value matches that of the US dollar.

The stability of Tether allows for easy exchanges for those who can’t access the traditional banks. The coin has a market cap of $4b and trades at $1 per token.

9.    EOS (EOS)

EOS is one of the newest launched crypto coins in the world, yet has fast grown to appear in this list. The coin works similarly to Ethereum as it provides a decentralized app building platform.

EOS comes with several benefits like free transactions, reliable governance structure, and ease of use. It also comes with fewer risks and is self-sustaining. 

10.    Bitcoin SV (BSV) 

Here is another coin resulting from a hard folk. Coincidentally it comes with Bitcoin Cash that resulted from Bitcoin.

Bitcoin SV is all about restoring the initial Bitcoin protocol while prioritizing security and fast transactions.

Bottom Line

Here you have them, in as much as Bitcoin gets all the limelight, there are several other crypto coins to choose from. These coins still offer the same functionality, security, and at times even higher transaction speeds.







 

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