We all know that Bitcoin is the king of digital currencies, and there doesn’t seem to be any other coin that can dethrone it from the top.
Although not similar, many digital currencies can still be used as a perfect alternative to Bitcoin. Some even claim to be technically superior to Bitcoin. Whether it’s true or not is completely another debate. In this article, we have discussed the top five digital currencies that are closest to what Bitcoin offers and can be used as an alternative to the king of cryptocurrency.
Top Alternatives to Bitcoin – Ethereum:
Bitcoin vs Ethereum is the closest battle when it comes to currencies trying to overtake Bitcoin.
Ethereum is a public blockchain software which promises to offer much more than just digital currency. The developers can code the software and power it through the public blockchain.
The users can then sell their processing power and get paid in “ether” – the second largest cryptocurrency by market capitalization after Bitcoin.
Ethereum has a market cap of $1bn USD.
Emerged in 2012, Ripple has become one of the most popular digital currencies to make online transactions anonymously. The paramount aspect of ripple is that it offers instant conversion into several other currencies.
Ripple considers itself a companion of Bitcoin and converts Bitcoin to Ripple and vice versa.
The market cap of ripple is $220m USD, making it the third largest cryptocurrency in the world.
Litecoin emerged in 2011 and is one of the oldest cryptocurrencies out there. Given below are some highlights of Litecoin:
- Similar to Bitcoin, Litecoin is decentralized.
- Litecoin is also generated through solving algorithms, which become more and more difficult over time.
- A Litecoin block takes just 2.5 minutes, which is much quicker than Bitcoin – where it takes around 10 minutes to generate one block.
- Due to quick generation, Litecoin supports far more transactions than Bitcoin.
- The overall cap limit of Litecoin is set at 84 million, which is relatively higher than that of Bitcoin’s (21 million).
The current market cap of Litecoin is about $175 million – making it the 4th largest cryptocurrency in the digital world.
With $170 USD market cap, Steem is the 5th largest digital currency. “Steemit” is the largest platform that offers the opportunity to earn Steem. The platform is filled with a huge range of stories.
Since there is no mining process, you can only earn Steem by contributing to “Steemit”, either by writing articles or rating/commenting on other’s articles.
The last one on our list is Dash, which, in terms of features is pretty close to Bitcoin software. Here are some unique features of Dash:
- Advanced privacy. Some even say its privacy features surpass the ones offered by Bitcoin.
- Whereas Bitcoin transactions can take several minutes, Dash transactions are quick and instant.
- Low transaction fees.
- Similar to Bitcoin, Dash is P2P and decentralized
Although the competition is tough, Bitcoin is leading the race by a fair margin and isn’t going away anytime soon. However, the other currencies are also there to stay and compete, which will surely play a significant role in the evolution of digital currency environment in near future.
Whether you’re entering into the Bitcoin community for the first time, or are a long-time stan of the digital currency, you’ll identify there are several platforms that tend to stand out and provide the best information on the digital world.
Below is a list of top bitcoin blogs that we found incredibly composed and sufficiently detailed.
The CryptoCoins News covers all cryptocurrency related or particularly, Bitcoin related topics. They produce well-composed articles explaining the trends, price movements, version updates regarding Bitcoin and other digital currencies.
CoinDesk is one of the best platforms for news, prices, and information on Bitcoin, blockchain technology, and other digital currencies. In my opinion, this site has got everything. They’re known to cover all trends, price movements, technologies, companies and people in the bitcoin and digital currency world.
The Cointelegraph brings you the latest news, analysis, and predictions of Bitcoin and the blockchain technology. CoinTelegraph stands out from all its competitors, with custom art attached with every article they post. Be sure to bookmark this page.
NEWSBTC – Bitcoin News, Price, Analysis
NewsBTC is a Bitcoin news service that deals with cryptocurrency news, technical analysis and forecasts for Bitcoin and many other digital currencies. Users looking for daily price analysis and latest Bitcoin headlines should definitely have this site in their favorites.
Reddit – Bitcoin
It’s a community on the Reddit platform that is dedicated to Bitcoin. Users from around the world come together to have discussions on the “internet of money” and help educate newbies as well.
This is the official blog of Bitcoin. The site perfectly outlines all one needs to know about Bitcoin and its functionalities. It’s even got a list of words essential in the Bitcoin vocabulary. Fresh content is added every single day, the blog part of the website continues to attract a lot of eyeballs.
99 Bitcoins is a site for all things Bitcoin, from guides on buying bitcoins to mining and wallet reviews, it’s one of the best. They deliver well-detailed and researched articles and news, proving their dedication to the
Blockchain.info is both a Bitcoin wallet and blog. How great is that? Not only do you get to secure your bitcoins but you can browse through news as well every time you log in to check your balance.
The Coinbase Blog
Coinbase is an exchange platform as well as a blog. It provides data on the most recently mined blocks in the Bitcoin blockchain. A great site to get bitcoins with a debit card, and multiple online wallets for your digital currency.
Bitcoinist provides up-to-date news and insightful analysis on everything Bitcoin. It’s a highly trusted and well-known source dedicated to providing legit content for the Bitcoin technology.
What is Primecoin?
Primecoin is a form of cryptocurrency which is issued through a decentralized mining market. Primecoin is derived from Bitcoin and uses prime numbers as a proof of work. Moreover, Primecoin is the first ever cryptocurrency whose design comprises of the scientific computing as its work.
What Are The Advantages Of Primecoin?
The major advantages of Primecoin are:
- Provides more security and minting to the network
- Primecoin generates special chains of prime numbers which mathematical researchers often tend to use
- Primecoin’s design can sustain a high level of security
- Payment transactions are 10x faster than Bitcoin network
Primecoin Symbol – What Does It Represent?
Primecoin symbol is basically a Greek letter psi (Ψ). The shape of this letter symbolizes the Reimann zeta function and is chosen as a tribute to Reimann. The horizontal bar we see in the symbol not only represents the currency symbol convention but also represents one of the precious jewels in the history of math – Reimann hypothesis.
How Does Primecoin Work?
Primecoin works by searching for prime number chains. The chains’ names are Cunningham chains and bi-twin chains. As of now, the distribution of these prime chains is not very well understood as even for its simplest case, the nature of their infinite existence is not proven.
The circulation of primes has been a standout amongst the most vital revelations in math, and the investigation of prime chains follows its lineage to the work of Riemann and prime number hypothesis, with connections to the more profound nature of the seemingly arbitrary pattern of prime distribution.
Riemann’s investigation uncovered the connection between Riemann zeta function and prime distribution, though later on Riemann zeta function has proved to be of higher relevance in other branches of science such as physics, consequently the investigation of prime distribution is a vital piece of the establishment of present day sciences.
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Are you inspired by those amazing tales where someone bought bitcoin and turned millionaire in no time? Are you planning to start your own Bitcoin venture but don’t know about the best place to buy Bitcoin? Here are few exchanges which offer Bitcoin both in bulk and minority.
Coinbase is one of the world’s biggest Bitcoin exchanges. Clients in the United States, Canada, the vast majority of Europe, and Singapore can purchase bitcoins with an associated bank account or SEPA exchange.
European clients can buy bitcoins with 3D secure credit/debit cards.
CoinMama is a bitcoin exchange that offers bitcoins with credit or debit cards. The fee is around 10% with the limit of about $5,000/day and $20,000 every month. After verification, bitcoins are transferred inside a couple of minutes. CoinMama is accessible only in some US states.
BitPanda is an Austrian Bitcoin exchange that offers bitcoins with credit and debit cards. Charges are low; around 3-4% but not shown separately.
Many individuals ask: is it conceivable to purchase bitcoins with PayPal? Since PayPal bans its dealers from accepting PayPal payments for bitcoins, it is impractical to purchase bitcoins with PayPal directly.
So, these three are the top three exchanges which sell bitcoins. Next time someone asks about the best place to buy bitcoins, you know what to tell them.