Alternative Cryptocurrencies to Bitcoin

Bitcoin (BTC), the first digital currency and the pioneer of the crypto money market, the most important currency today with its roots in the past, Bitcoin set a new record of 19 thousand USD in the last quarter of 2017. At the time of this writing, Bitcoin has set a new record of 64,000  USD and continues to put a smile on the face of its investors.

But is Bitcoin the only one dominating the market? Many beginner investors in cryptocurrencies may have mostly heard of Bitcoin. However, there are about 1400 coins and many tokens in the crypto money markets. The coin with the highest market dominance and market capitalization is Bitcoin. The current value of BTC, which holds 53% of the volume in the market, is 520 thousand TL. The project and purpose of many coins create a competitive environment in crypto money exchanges due to the impact of BTC on its investors and how the alt coins are affected by it, the instability in the real markets and the distrust they give to investors. Therefore, Bitcoin is no longer the only one in the crypto money world, many alternatives to Bitcoin continue to emerge. In our article, we will tell you about the crypto coins that are a strong alternative to Bitcoin in these crypto coins.

Ethereum

Ethereum (ETH) is at the top of our list of Ethereum alternative coins, which are a software wonder and have played a role in the growth of many altcoins after its release.  Ethereum, which is also the biggest competitor of Bitcoin, has a current market price of over 2000 USD and has broken its own record. Ethereum, a unique blockchain technology, is the most important altcoin due to its role in the architecture of various altcoins and tokens. 

AVAX

AVAX is a guardian platform tasked with launching and protecting DeFi applications and financial assets. Unlike Bitcoin, AVAX, which has the ability to process in less than seconds in block transition transactions, transaction fees are burned to increase tokens and balance is achieved with the release of new coins. Due to the fact that it uses the POSA system and can be easily exchanged, it is a coin preferred by investors and we have taken our eyes off our list of alternatives to Bitcoin.  With a record breaking of 440 TL on February 7, 2021, it is one of the promising coins and is not mined. Its total supply is 360,000,000 AVAX, while its circulating supply is 76,937,055. At the same time, AVAX, which is more environmentally friendly than other coins, seems to continue its growth without slowing down in the coming period. AVAX, which made a big jump in February 2021 from 13.00 USD levels to 39.00 USD, is currently trading at 33.29 USD.

Ripple

Ripple (XRP) is a digital currency that, unlike other currencies, is centralized. Although it is traded on the blockchain, its ledgers are kept by the company. We can say that it is the third most important coin after Bitcoin and Ethereum. Having a center has enabled companies and banks to use XRP as a payment method. The partially positive outcome of the case with the SEC causes the price trend of XRP to increase continuously. And at the time of this writing, the current price of Ripple is £15,762 

Litecoin

Although Litecoin (LTC) is the same as BTC in terms of its working principle, its main exit purpose was to eliminate the deficiencies in BTC. It was developed by Charlie Lee, a former Google employee. The current market cap is over 1 billion USD. LTC offers its investors the possibility of storage, which allows it to be preferred by payment method. The current value of LTC is 2250 TL.

Polkadot

Polkadot (DOT), DOT launched with ICO in 2017, has increased its supply in the market by 900% in two years and its current price is 355 TL.