It is a well-known fact that Bitcoin is the largest and most popular cryptocurrency in the world at present. But several other cryptocurrencies have been introduced, and you must know about them. Many newly introduced cryptocurrencies fall under AltCoins, Stablecoins, and social tokens. Extra detail click here to visit website
Given below is a list of popular cryptocurrencies other than Bitcoin:
Ethereum follows Bitcoin closely as the second largest cryptocurrency and also the second-most popular. It was built in 2017 and is an AltCoin with its coins known as Ether (ETH). Unlike Bitcoin, the platform allows smart contracts, hence adaptable to decentralized finance (DeFi).
The decentralized platform creates security for transactions and is accessible to anyone. There are several applications based on the Ethereum blockchain known as dApps. Ether is native token of Ethereum platform. Ethereum also allows others platforms to build on its blockchain, and many social tokens are based on this blockchain.
The current value of Ethereum is USD 1625.56 per ETH as of August 2022, and the market value is USD 40,000 less per BTC.
- Tether (USDT)
Tether or USDT is a stable coin; that is, it is backed by US Dollar, which is a fiat currency. It was the first cryptocurrency to be backed by a fiat currency.
Cryptocurrencies go through a lot of fluctuations in market value but investing in USDT eliminates the risks regarding the fluctuations. As it is backed by USD, you can easily transfer money to USD within a short time.
Tether was launched in 2014 and is expected to be pegged to the US dollar firmly in the future. Tether is the third largest cryptocurrency .
- USD Coin (USDC)
USDC is another stablecoin linked to the US dollar using the traditional surety reserves, and the value of one USDC is the same as the value of $1. It is also called the “world’s digital dollar.”
As the currency is backed by USD, it is less stable than other cryptocurrencies, and thus the investors have less risk investing in USDC than other cryptocurrencies.
As of July 2022, USDC’s market value is $55.5 billion.
- Binance Coin (BNB)
Binance Coin or BNB is a utility cryptocurrency token mainly used as a commission during trading on Binance Exchange. If you use the BNB utility token, you can trade at a discount.
Changpeng Zhao established Binance Exchange, which was first built on the Ethereum blockchain and used a token called the ERC-20 coin. But now, it has its blockchain network that also serves as a foundation for Binance’s decentralized exchange. Currently, it remains one of the most popular trading platforms for cryptocurrencies.
The most recent market value of BNB is $39 billion, and one BNB equals $241.83.
- Binance USD (BUSD)
Binance USD or BUSD is a stablecoin linked with the US dollar, with one BUSD equal to $0.9994. Its market value is $17.92 billion. However, this stablecoin is expected to witness a fall in the market value within a short period and, therefore, is not the best cryptocurrency to invest in.
Solana was launched in 2017 to mainly support decentralized apps (dApps). Solana is similar to Ethereum, as they both enable smart contracts, except Solana charges a lower fee per transaction when compared to Ethereum.
Solana allows smart contracts and is a good platform for DeFi and NFTs (non-fungible tokens). It uses a proof of stake (POS) blockchain that is better and less damaging than the proof of work (POW) blockchain that Ethereum uses.
The currency used by Solana is SOL, and its market value is almost around $12 billion, according to recent reports. One SOL is equal to $38.
The token used by XRP Ledger is called XRP. Ripple created XRP Ledger in 2012 to serve as a digital payment network. The network does not use any POS or POW blockchain and is currently one of the fasted digital payment networks.
Thus, there are other significant cryptocurrencies in circulation other than Bitcoin. Some other cryptocurrencies other than the ones mentioned above are Dogecoins, Polkadot, Chainlink, Cardano, Stellar, etc.
Crypto Genius is a popular app for trading various cryptocurrencies other than Bitcoin. Visit BitIQ to know more. There are other platforms that you can explore for trading.