First off, Bitcoin is a given which is why it’s not in the list. Bitcoin is like Gold. It’s an asset. It’s not necessarily easy to transact with. And most people don’t want to because it keeps going up!
However, what we don’t realize is some people in some countries can’t use paypal, for these people, bitcoin is a form of currency. And in many markets bitcoin acceptance is becoming more and more popular. In New York for example restaurants take Bitcoin and you purchase it based on market value at ATMs located throughout the city. At this point it’s unlikely any of the other cryptocurrencies will surmount bitcoins market cap.
Instead of thinking of the cryptocurrencies in this list as a suitable replacement for bitcoin, it’s best to view the growth of the market as a whole. As Julian Assange says: “Bitcoin is the real Occupy Wall Street movement.” Now let’s talk about the next cryptocurrency disrupters…
Ethereum is a solid cryptocoin it’s the #2 ranked coin (behind bitcoin) and like bitcoin it’s widely available. If you live in the US you can exchange cash for Ethereum on Coinbase in the same way you purchase bitcoin at the current exchange rate. You can then trade ethereum for other currencies on cryptomania. Ethereum is easier to mine than bitcoin as it does not require a specific ASIC. Ethereum has wide market acceptance.
Despite having what I believe could be one of the worst possible logos dogecoin has gained huge acceptance and reached a market cap over $800,000,000 making it the 36th ranked Cryptocurrency.
Dogecoin is considered an inflationary coin because there are no set amount of coins. The inflation rate was set at 5.25% however, since the production of coins is uncapped the inflation rate will decrease over time.
Ranked #5 Litecoin is also widely available and exchanged. Similar to Ethereum it can be mined which makes it an attractive crypto currency. Litecoin mining is possible via Scrypt which is offered by cloud mining hosts like cryptominer.host. LiteCoin is available for direct purchase on coinbase along with ethereum, bitcoin cash, and bitcoin. Finally Cryptopia has a LiteCoin exchange making it easy to purchase and exchange.
Monero is based on the CryptoNight algorithm which can be mined via CPU and GPU power. For this reason it’s been found on sites from the UFC, to PirateBay and even the Russian Pipeline was found to have a Monero mining software program installed. Since it’s early adoption they’ve been promoting it as the cryptocurrency for webmasters and the fact it can be mined from websites make’s it even more attractive. In my opinion the crypto-currencies that offer the best security, transaction times, privacy (anonymity) and mining options will be the most successful.
Mine Monero from people who visit your links with Crypto Jacker.
Ripple is unique in that it’s completely distributed and it is not mineable. Unlike bitcoin where there is a set number (21 million) and roughly 16.5 million available, Ripple was released all at once. This could make it more stable than other cryptocurrencies and their technology has been widely adopted by the banking industry which is a big plus for them. In Asia they’re just starting to market Ripple which has led to fairly big upswing.
Did you know that bitcoin transactions are completely traceable? If you know a bitcoin wallet address you can use BTC Toolbox to get the entire transaction history for that wallet. Because wallet addresses are freely given out to exchange the currency the privacy and anonymity promised by bitcoin are as anonymous as they claim. Zcash was the first to market their cryptocoin as a solution to the privacy concerns of bitcoin.
“Zcash finally fulfills an early promise of Bitcoin technology – the ability to transact freely and privately with anyone in the world. This protects the right to privacy held by all individuals on Earth, and opens up new commercial use cases which were impossible without truly confidential transactions.” – Erik Voorhees (ShapeShift.io)
Smaller cryptocurrency based on the anonymous TOR network. The market cap of the DeepOnion networks isn’t up to the level of the other’s in the list. However, this cryptocoin still has a lot going for it. The marketing and planning behind it were well though out and the layered security is provided by the anonmous TOR network.
Deep Onion spreads the wealth to it’s users via drops which will happen until 3rd quarter of 2018. At this point the currency will also be completely distributed and more mature.
CloakCoin has the enigma network which looks to be one of the most secure and anonymous payment networks of any crypto-currency. They recently submitted for an audit of their completed enigma network and the coin spiked to around $20 (about a 300% spike).
CloakCoin is part of the anon coin section of crypto-currencies such as Monero, Zcash and Deep Onion. Is Enigma superior to the TOR Network?
Of all the crypto-currencies in the list Verge is one of the most interesting to me. It is relatively inexpensive (less than $1.00 per coin) and has grown exponentially as of late. It meets the privacy and security requirements of the more modern crypto-currencies and it’s been backed by some big names including most notably John McAffee the antivirus guy:
Paraphrasing John McAfee… This coin has the greatest potential for leverage of all the coins in the list, meaning a small investment could potentially yield a large return. It’s easier for a $.03 cent coin to hit $30 and get a 100x multiple. Verge has seen some pretty crazy gains lately.
Steem has a strong community behind it which is part of what makes it special. This community is driven by the steem.it website and through videos hosted on d.tube. Content producers are paid out in STEEM which is an investable crypto-currency that’s seen a 10x exponential growth in the last 6 months. Needless to say many YouTubers and Bloggers are moving to this platform and if you visit the site for a couple of hours you’ll quickly see why it’s so valuable. Will the coin itself hold up like the community?
It’s hard to say but it at this point it seems full steam ahead!
How to buy these cryptocurrencies?
1. Buy bitcoin through coinbase.com (use my referral link to receive $10 free immediately after your first investment of $100 in crypto-currency).
2. Exchange BTC for all of the cryptocurrencies in this list on Cryptopia.
There are exchange fees associated with any crypto transaction do your research before investing. The best way to educate yourself on crypto-currency is to get involved and make your first investment as soon as possible! Did you like this mega post? Please comment below…