Top Cryptocurrencies that Will Give a Tough Fight to Bitcoin in 2020
Bitcoin has been a trendsetter making news and dominating the crypto market for a long time now. Built on a decentralized P2P network, Bitcoin has garnered attention from every section. As Bitcoin price is hovering around a certain mark, now it’s the time to focus on other cryptocurrencies in the market. Crypto investments have become a trend in today’s time; especially among today’s technologically obsessed world. Let’s focus our attention on some of the growing cryptocurrencies which may give tough competition to Bitcoin in 2020.
Before we start following some alternatives to Bitcoin, one needs to understand the concept of altcoin properly. Altcoins are defined as digital or virtual money that can be stored, generated and transacted securely. The modern ‘crypto’ features of Altcoins make it more effective and ideal for today’s world. Altcoins are generally developed by means also known as miners. These new generation currencies are designed in such a manner that it is free from any central bank or government control and manipulation. Altcoin trading is done through online exchanges and crypto ATMs. One can easily locate the OTC Trading Platform online to trade Altcoins using any fiat currency. Most of Altcoins are easy to mine than Bitcoin and hence its popularity is also increasing.
Below we’ll study some of the emerging Altcoins which has all the possibility of making it big.
- Litecoin (LTC)
Launched in 2011, Litecoin is among the cryptocurrencies which followed Bitcoin. This digital currency was created by a former Google engineer which is based on an open-source network and is not controlled by any central bank or authority. Litecoin uses “scrypt” as proof of work and it can be decoded using CPUs. Many find Litecoin similar to Bitcoin but it offers faster transaction time making it the next popular cryptocurrency. Crypto enthusiasts can easily buy Litecoin from Crypto OTC Trading Platform, a growing number of merchants across the globe have also started accepting Litecoin. In 2020 Litecoin has every possibility to emerge as the next big player in the crypto industry.
- Ethereum (ETH)
Ethereum is another popular cryptocurrency which is garnering huge attention recently. Launched in 2015, this digital currency is based on decentralized software that runs without any control, fraud, downtime or interference from third parties. At a time when Bitcoin prices are crashing every day, Ethereum can start grabbing investor attention and it has all the features to rule the crypto market someday. Who knows it may start in 2020. Do keep a close look at this digital currency.
- Dash (DASH)
Initially named as Darkcoin, Dash is more a reserved version of Bitcoin. The best thing about this digital currency is that it offers more anonymity as it works on a decentralized network and makes transactions hard to trace. Dash was launched in 2014 and in a short span, it experienced huge fan following. Dash can be mined using GPU or CPU. Considering the technological functionalities, there is every chance of Dash becoming the next name in the crypto market.
The Bottom Line
Even in 2020 Bitcoin is holding a strong grip on the crypto market, in terms of popularity, user base and capitalization. By now everyone knows about the crypto industry, Bitcoin may be dethroned anytime as new currencies are growing popular. Virtual currencies like Ethereum are being used often for enterprise solutions and becoming a favorite among crypto users. Top crypto trading platforms and BTM operators like Ausfinex is making Altcoins easy for buyers. What’s more, some Altcoins are being often endorsed for advanced or superior features in comparison to Bitcoins. Following recent trends, one can be sure that cryptocurrencies are here to stay but one can’t bet which of them will emerge as the next big player considering the growing competition in crypto space.
So, what’s your bet? Feel free to share with us your views.