An altcoin is any digital cryptocurrency similar to Bitcoin. They are all the alternative cryptocurrencies launched after the breakthrough of Bitcoin. They generally project themselves as better substitutes to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Most popular altcoins use the same fundamental building blocks as Bitcoin. This implies that most altcoins are peer-to-peer, and they involve a mining process through which the users can solve difficult problems in order to unlock blocks, and they also offer efficient and cheap ways to carry out transactions on the web. altcoins vary widely from each other even with their many overlapping features – altocoins differentiate themselves from bitcoin with a range of procedural differences, including different proof-of-work adifferences the different means by which their users can sacrifice energy to mine blocks and application advancements to increase their user’s anonymity.
In April 2017, the size of the cryptocurrency market was just about $25.9 billion but as now, it stands at about $409.5 billion. The market growth gave room for many new cryptocurrencies to emerge. So it is pretty tasking to pick out the vest alt coins as there are hundreds to choose from. But in this article, I will show you the best 5 alt coinsto watch out for in 2019 so buckle up, its going to be a long ride.
Many of these altcoins are basically forks of Bitcoin, developed on its open source code. It can be a difficult task to choose the best altcoins, as there are thousands of options out there.
Best Altcoins to Invest in 2019
Litecoin is one of cryptocurrency’s oldest altcoins, it was created in 2011 by Charlie Lee(ex-google employee). Litecoin is just a digital currency like bitcoin but with certain upgrades. Litecoin shows very many improvements from that of bitcoin, especially its remedy of bitcoin’s slow transaction speed. As a matter of fact, the reason that it is called Litecoin is because it is 4 times faster than Bitcoin. A Bitcoin transaction could take about 10 minutes to complete but a Litecoin transaction is done and dusted in 2.5 minutes. This makes Litecoin more scalable than Bitcoin as the litecoin can complete more transactions per second than the bitcoin can. The litecoin is fairly easy to purchase because it is offered by most of the top cryptocurrency exchange platforms. You can buy Litecoin from Kraken or from Coinbase or Coinmama or Bitsquare.
Ethereum was launched in July 2015 by Vitalik Buterin. All the list of the best altcoins must have listed in them, Ethereum. Ethereum is the second most valuable cryptocurrency after Bitcoin and it has a current market capitalization of about $64.35billion.
The price of Ethereum has grown from $9 in January 2017 to $1,389 in January 2018. And its price has almost doubled in price within the last one month, from $396 at the beginning of April (2018) to $648 today.
Why is Ethereum so unique and different from Bitcoin?
Bitcoin is just a virtual currency, but Ethereum has more to offer in addition to that. Ethereum provides a platform for the developer on which they can build blockchain-based smart contracts and decentralized apps.
Ethereum was the first cryptocurrency token to introduce smart contracts(Smart contracts are agreements coded on the blockchain that execute themselves on when certain pre-set conditions are met), and smart contracts are now considered as the next big thing.
As one of the most widely available cryptocurrencies, Ethereum can be purchased from any popular exchange. Many of these exchanges support credit/debit cards in addition to bank transfer. So you can purchase Ethereum from Coinbase or Coinmama or CEX.io or Gemini.
NEO, which was originally called AntShares. It was created in 2014 by Da Hongfei in China. It is the biggest cryptocurrency which is of Chinese origin. NEO, like Ethereum, is a platform designed for developing decentralized applications (Dapps), Smart contracts and ICOs. It has very close resemblance with Ethereum and because of this close resemblance to Ethereum, NEO is often referred to as the “Chinese Ethereum”. One of the major factors which is propelling growth for NEO is the support it enjoys from the Chinese government and its robust technology. NEO has a vision of building a smart economy and this Impliesthe digitization of physical assets like cars, houses etc. To buy NEO, you must First buy bitcoin and then exchange it.
Cardano fixes three of the most pressing challenges the first and second blockchain generation projects faced. These challenges are: availability, interoperability and sustainability. Cardano offers advanced improvements over Bitcoin as well as over Ethereum. Cardano is a decentralization app building platform with its unique native frequency.
Cardano also profers solutions to the problem of slow international payment transfers by reducing the cost and speed to a few seconds. Cardano can easily be gotten from coinmama but if you wish to buy from other platforms, you will need to but bitcoin first.
Dash was launched about 5 years ago by Evan Duffield. It was first called Xcoin then renamed Darkcoin but in 2015 it was finally re-branded to Dash. Dash has a market capitalization of about $3.79billion so could be one of the best coins to invest in 2019. Dash has made some giant strides And the technology and offers better privacy and a higher transaction speed than Bitcoin.
Unlike Bitcoin in which the address of the sender is made public, Dash keeps the addresses hidden. So, Dash’s transactions cannot be traced back to the origin, while Bitcoin transactions are traceable.
Dash also has its own self-funding mechanism (0% of all the mining reward goes back to the Dash.) This fund is used to further improve and grow Dash.