Exploring Cryptos Other than Bitcoin

Popular Digital Currencies

When it comes to cryptocurrency, there is certainly no shortage of coins to choose from. While many people choose the top contenders, there are way more than those to choose from.

You can almost never go wrong with hanging onto some BTC. With that said, why not live a little and seek out more diversified options.

Here is a list of some cryptos perfect for those who are looking to diversify their crypto portfolios.

1. Bitcoin

Bitcoin is the original cryptocurrency and has been around since 2009. With a current market capitalization that is north of $173 billion Bitcoin is a no brainer. It is accepted at over 80,000 businesses worldwide and is constantly growing in adoption, so go get your hands on some!

2. Ethereum

The #2 most popular crypto, Ethereum, is always a good idea. It has a market capitalization of over $26 billion and is trading at $236 currently. It went live in July of 2015 with over 111.3 million ETH tokens in circulation. 

3. Tether

There has been much controversy surrounding Tether but in 2019 it surpassed Bitcoin as having had the highest daily and monthly trading volume of all digital currencies. It currently has a market cap of $9.2 billion and has over 9.2 billion tokens in the market at $1.00 per share. It is considered a stablecoin because it attempts to attach its market value to a currency or other external reference point in order to reduce dramatic price fluctuations. 

4. Ripple 

Trading at only 19 cents per share Ripple (XRP) has a whopping 44 billion tokens in circulation with a market capitalization of $8.4 billion and was released in 2012. 

5. Bitcoin Cash

Bitcoin cash is a spin-off of Bitcoin and has a total market cap of nearly $4.4 billion, with a market price of $238 per coin and a total circulation of just over 18.4 million BCH.

Digital Currency Becoming More Mainstream

Microsoft, Wikipedia, AT&T, and Expedia to name a few have adopted Bitcoin. According to SBR, it has been a godsend for USA residents, who are limited by government prohibitions on credit card transactions and sports betting. But with the advent of digital currency, funding accounts are virtually instantaneous using Bitcoin.

Not all online sportsbooks are created equally so be sure to do your research. The bottom line is that when you win, you want to get paid. Make sure you are dealing with an honest and transparent sportsbook that is quick to send you your winnings.

Many who use digital currency are looking for diversity and cryptos do just that. Perhaps the most interesting of the cryptos is Ethereum because it creates smart contracts on a supercomputer built on blockchain called the Ethereum Virtual Machine. 

All About The ETH

If you were to ask Alexis Ohanian, Co-Founder of Reddit, ETH is a big proponent of cryptos in general but stated he is:

“most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.”

Nigel Green, CEO of the deVere Group, is also high on Ethereum and predicts it could reach heights of $2500,

“(the) price of Ethereum is predicted to increase significantly this year, and could hit $2,500 with a further increase by 2020. This general upswing will be fueled by three mains drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”

Brian Schuster, Founder of Ark Capital LLC, who stated:

“Ethereum is less like one individual business and more like a store of value, like gold. (Ethereum) gives us a potential market capitalization of roughly $10 trillion, leading us to believe that the price of Ethereum might rise as high as $100,000 per coin. We might even go one step further and say that Ethereum is not like one asset, but an asset to replace all currency that exists.”

Conclusion

It’s clear to see that Bitcoin is not the only crypto available with an enormous amount of optimism surrounding it. Whether you want to transact seamlessly online or buy digital currencies for investment purposes, there are plenty of options available. Just do your homework and determine which crypto is right for you.