The Bitcoin Frenzy When Bitcoin was created in 2009, it promised lower transaction fees than most online payment gateways. The digital currency runs on a decentralised blockchain technology, using cryptography for security. In terms of market capitalisation, Bitcoin is the world’s largest crypto asset, currently traded at INR 30,94,877.76 for one BTC. Options other than […] The post A Profile Of 10 Crypto Assets Other Than Bitcoin appeared first on ZebPay | Buy Bitcoin & Crypto.
The Bitcoin Frenzy
When Bitcoin was created in 2009, it promised lower transaction fees than most online payment gateways. The digital currency runs on a decentralised blockchain technology, using cryptography for security. In terms of market capitalisation, Bitcoin is the world’s largest crypto asset, currently traded at INR 30,94,877.76 for one BTC.
Options other than Bitcoin
To build a diversified portfolio, it becomes imperative for investors to look into other crypto assets and their performance. Here are ten crypto assets other than Bitcoin that deserve your attention as an investor.
Ethereum comes right after Bitcoin as the second-largest crypto asset in terms of market capitalisation. Ethereum offers a multitude of applications following the concept of automation. The ERC standard on the Ethereum blockchain is the holy grail of smart contracts across other platforms as well.
Proposed by Vitalik Buterin, Ethereum went live in 2015.
Ethereum followed the Proof-of-Work mechanism before planning a switch to Proof-of-Stake in December 2020. The move will result in less energy consumption and a lesser gas fee, and is currently under progress under Ethereum 2.0.
Designed to facilitate interoperability between blockchains, Polkadot is built of multiple sub-chains, called Parachains. As a result of this interoperability, transactions are processed at a much higher speed.
The option of staking your DOT coins and voting on the blockchain’s governance are attractive features that make DOT a great crypto asset to purchase.
Soon after its launch in 2011, Litecoin was compared heavily to Bitcoin. With a faster block generation rate and confirmation time, Litecoin has made its mark as one of the top 30 crypto assets. With the objective of solving the problems of Bitcoin, Litecoin also remained focused on keeping the transaction fees minimal.
Running on a digital platform called RippleNet, XRP is meant for big organisations and swift transactions. It is being considered to host digital transactions for global banks. Bagging Google as an investor, this ledger is prepared to scale rapidly, currently having the capacity to handle 1500 transactions per second (TPS) compared to Bitcoin’s 7 TPS.
Starting as a virtual gaming platform, Decentraland has gone on to garner massive popularity. Its project, LAND, a digital ecosystem to buy virtual plots, has caught the attention of many investors looking for lucrative crypto assets. MANA, the official token of Decentraland, provides the token holders access to LAND, the NFT Marketplace, vote on governance, and many more interesting benefits.
The first of the stablecoins, Tether, attempted to reduce the volatility of crypto assets. The most widely traded crypto asset, beating Bitcoin, is tether. Equivalent to the US dollar, usdt is used as a substitute for Dollars and can be easily transferred for crypto asset transactions, eliminating the transaction costs of typical bank transactions.
- Axie Infinity
Popular as an NFT game, Axie Infinity is a crypto asset owned and operated by players. More than a million daily active users enjoy the benefits of the token, the NFT, and the game at the same time. The play-to-earn concept offers an exciting investment opportunity.
Governed through an algorithm, Luna offers stablecoins for the top currencies of the world. Fifteen e-commerce companies of Asia come together to process transactions amounting to $25 million and host 45 million active users. Lower costs and simplified transactions make Terra a popular choice for investors.
Increasing the speed of blockchain transactions, Solana was created to enhance the scalability of a blockchain. With 50,000 transactions per second, Solana uses proof of history timestamps to optimise the system. Solana is a popular investment with lower transaction costs, faster settlement, and attractive speeds.
- Bitcoin Cash
An altcoin, Bitcoin Cash was the result of a split from Bitcoin in 2017. The disagreement of Developers and Miners caused a hard fork that led to the creation of Bitcoin Cash, a spin-off of Bitcoin with all the new mechanisms of scalability that were not allowed to be implemented on Bitcoin.
With a host of options available to invest in and become a part of the crypto trading family, investors can analyse the results they expect to see and their risk capacity to choose their investments. Closely tracking the crypto asset space is integral to deriving profits from the investments. Opting for the best crypto asset exchanges like ZebPay can help fresh investors keep their investments secure while learning new avenues of returns from the crypto assets.
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