Are you thinking of investing in Bitcoins? You might also consider investing in various other cryptocurrencies out there which are regarded as worthy substitutes of Bitcoin. In the recent past, many of these other digital currencies have made great progress and their market value has increased significantly. Actually, it can safely be said that Bitcoin is not the only big player in the market, and you can diversify your portfolio by adding other digital currencies Click to your investment plan.
Why should you invest in alternatives to Bitcoins?
Although as per Bitcoin Era, Bitcoin has the largest market share at the moment among all cryptocurrencies, but many investors are considering putting their money on some other alternatives. And there are plenty of reasons behind that.
Fast and foremost, there is the problem of instability in the prices of Bitcoin. It is important to note that there are wide fluctuations in Bitcoin prices and the volatility has become extremely evident since 2017. It is volatile and investors are scared about their funds. Many people have lost their funds in the past few years. So, people are looking for an alternative that can keep their funds secured.
There is also the case of diversification of portfolio. No good investor would like to keep all his eggs into one a basket or all his investments upon a specific type of asset. This is another important reason why the substitutes for Bitcoin are gaining more and more ground with each passing day.
The third important reason is that many other cryptocurrencies that are coming up today as alternatives to Bitcoin are proving to be better in some ways, such as in terms of:
- Security measures
- Stability in prices
- More options for digital storage of asset etc.
Some of these are really good and many investors feel that these have good chances of becoming major players in the future. They have more hope of making higher returns on their investment if they put money on these alternatives.
What are some important cryptocurrencies other than Bitcoin to invest on?
There are quite a few other digital currencies at the moment which can be worthy substitutes for Bitcoin. These include:
Just like Bitcoin, this cryptocurrency has also witnessed major rise in its fortune. In the last four years it has captured huge market share in the cryptocurrency industry and many investors feel that it is a much safer alternative to Bitcoin.
In 2020 and 2021, after the outbreak of the Covid-19 pandemic, this cryptocurrency has grabbed a major share of the market and is regarded as a worthy substitute of Bitcoin. If you do not want to invest in Bitcoins, you can actually buy a few of this digital asset and make high profits on your investment.
It is another of the best alternatives to Bitcoin and has witnessed major rise in price share as well. It comes with quite a few interesting features and you can store it easily in your digital wallet. There are major security measures here and like Bitcoin, Litecoin is also powered by the blockchain technology.
Dogecoin is a dark horse and actually came into the market as a way to mock cryptographic currencies. But strangely, it made huge market gains soon after its launch and today it is regarded as a dark horse which can go a long way with some investor confidence on this asset. With some famous personalities around the globe tweeting and talking about this digital currency, it is inspiring confidence among more and more people out there.
This is another important cryptocurrency that is almost as popular as Ethereum and Litecoin. You can be assured of the safety and profit potential of this digital asset, which has become a major player in the market in the last 3 to 4 years.
If you are looking for good cryptocurrency that can be worthy substitutes or alternatives of Bitcoin there is no dearth of options. Just choose the best option with care according to your own needs and investment requirements and you can be more or less in the safe zone and have good chances of making very high returns on your investment.