In a space of 24 hours, bitcoin price see-sawed between $9,000 and $11,000. The aggressive investment and trading could virtually give a feel of its vulnerability. Despite the uncertainties, investors are flocking to invest in this crypto currency. Not everyone got a chance to invest early on and now it has gone beyond their reach. Every one of these laggards are looking for alternatives to bitcoin investments.
Why Rise in Bitcoin Price?
There is not one single reason for this massive interest. There is a greater keenness from several nations in Asia including Japan, China, and South Korea. Many are considering it as a great way to increase the worth of their money. Also, many of these nations are legitimizing its usage, letting their citizens legally trade in it.
Fret not, if you envy the bitcoin price increase, here is your chance. There is still a chance for you to invest in other alternatives.
Ethereum’s history is short and sweet. A crypto currency just launching in 2015, it has become a reliable face of the crypto market. Ethereum is run on its own platform that goes with the name of Ether. Ether lets the traders trade, exchange and develop the virtual coin. Developers can also create and run applications within the Ether platform. The current market cap for it is close to $5 billion.
Litecoin’s history goes a bit farther with the launch in 2011. It is yet another greater alternative to have as digital money. The USD to BTC makes it so much expensive. Litecoin will definitely be a great option to consider. Charlie Lee, an MIT graduate is behind Litecoin. Like many other popular options, it does not have any centralization. It relies on “scrypt” for reliability and authenticity. The holders of this digital money get prompt confirmations about the acceptance. However, this gives added trust value and confidence to the investors.
Darkcoin or Dash is more of a secret kind of currency. It offers complete anonymity and master code spread across networks. However, the added level of security makes the coins’ transaction undetectable. Similarly, like its other cousin Ethereum, it has got a lot of global attention. Furthermore, the users can use their computers to mine the Dash coins. Dash has also advanced many of its technological features to add to its security.
Monero may not be that famous. Yet the robust technology behind it, makes it a great choice among cryptocurrency options. It may not have the high bitcoin price now but it will eventually increase in worth. Therefore, the currency runs on donations and there is a strong community backing it. The two main focuses of Monero include scalability and decentralization. Furthermore, it relies on a different technique named “ring signatures” to add to its privacy and safety.