5 Alternatives to Bitcoin for 2018

Bitcoin has made a lot of early investors more than a thousand-fold richer than they ever thought, and a lot of hopeful people would want to join the ranks. Others are more motivated by the technology and ideology of the blockchain technology, and would love to support this technological and economic revolution.

With the success of bitcoin, other cryptocurrencies have sought to unseat the widely-known Bitcoin of its throne. The technology-focused Ethereum comes to mind, and then the speed and transaction-focused Litecoin is also a contender. We also have Ripple, which is a cryptocurrency that focuses on getting banks to use its own system or partner with its parent company.

There are a lot of alternatives that can be found in the cryptocurrency market, but 5 cryptocurrencies do come to mind because they are either technologically advanced or has a utility or an outstanding advantage and focus not found in other cryptocurrencies. Here are five cryptocurrencies that have a lot of room to grow.

Before you can invest in any of these coins, you have to make sure that you have an account at an exchange or a broker which lets you invest in them. Currently, most of the altcoin exchanges are suffering from severe overload in people wanting to join.

Your next best bet is to set up an account at an option broker that offers these cryptocoins. There are a range of cryptocurrency option brokers to choose from many of which are regulated. These instruments also offer you the advantage in that they are risk management tools. You do not have to risk more than your initial investment.

Technologically advanced coins

  1. Cardano (ADA)

The team behind Cardano is constituted of professors and researchers with at least a PHD on their names, or has worked with other cryptocurrencies (the founder actually worked on Ethereum before it was offered to the public). It is also one of the few cryptocurrencies that are peer-reviewed by people in the academe.

Cardano also has one other characteristic that it is proud of: the technology that can even resist its data being decoded by Quantum computing. Given enough resources, a super computer can decode the blockchain and can even control the cryptocurrencies, but Cardano is advanced enough that it can resist such attacks.

Cardano also can be used to make and execute smart contracts, just like Ethereum, and can also transact faster than Bitcoin.

  1. IOTA

This is an interesting cryptocurrency with a big upside due to the fact that it is not using a blockchain but its own technology it calls the Tangle. Rather than one big ledger of blocks that are chained together, data in IOTA goes through a weave or web, where for every correct transaction, the system makes two random transactions that are not confirmed to strengthen the security as well as lessen the burden on validating. This has made IOTA a lot cheaper, and sometimes even free of transaction fees, due to its technology.

The middle ground: Technology with a different twist

  1. NEO

Neo, formerly Antshares, is known as the Ethereum of China. While it has similar coding and features of Ethereum, it has one big advantage against Bitcoin and Ethereum, and that is the way Neo performs is its protocol.

For now, Ethereum runs mainly a proof of work protocol wherein miners will use their computers to mine the blockchain. If a miner can corner 51% of computing power, it can abuse its position.

Neo uses Delegated Byzantine Fault Tolerance where rather than a straight majority, people who hold Neo tokens can assign their votes to someone else.

The protocol of Neo allows faster transactions than Ethereum, as well as making the recording and execution of the blockchain’s decision more efficient.

Utility coins

  1. APPC

The mobile market is a very big chunk of the technology sector, and APPC or AppCoins, is the very first cryptocurrency that focuses on mobile apps. They are already serving 200 million active users in the mobile market. It opened at the price of $.27 and at the start of 2018 is already at more than $1.10. The main reason why the price is still that small is because only one exchange is offering it and is just a new cryptocurrency, having the ICO end only on Dec 20, 2017.

  1. VEN

This is another cryptocurrency that is a big player in China. VEN or VeChain works with luxury good manufacturers and retailers to ensure that one of their high-end products can be traced. This ensures that no two luxury products can be fraudulently sold in the black market or a luxury brand counterfeited. That gives it a stable demand, and the optimism in the cryptocurrency markets will only add more demand to it that may cause the price to go higher.

There are more than 1400 cryptocurrencies available in exchanges, and finding the right ones can be time and effort consuming. The five listed above are still relatively unknown compared not only to bitcoin but also other top cryptocurrencies, and they have the potential to even unseat some of the top coins as well. This makes the five coins listed above a good investment, but always do your research.