4 Cryptocurrencies You May Want To Consider Buying Over Bitcoin

Cryptocurrencies are now close to hitting over $1 trillion in total value. According to Motley Fool, in early 2017, the combined market cap of all virtual currencies was just $17.7 billion, and bitcoin made up nearly 88% of that total. However, as of Dec. 20, the aggregate market cap of the better than 1,360 digital currencies had soared to $635 billion, representing a year-to-date increase of almost 3,500%, and bitcoin’s contribution was less than 50%. On the other hand, the stock market historically gains about 7% a year, inclusive of dividend reinvestment and adjusted for inflation.

Motley Fool goes on to explain the bullishness behind cryptocurrencies:

“A number of catalysts have played a role in pushing virtual currencies higher. For example, the emergence of blockchain is creating a lot of buzz on Wall Street.

“Blockchain is the digital and decentralized ledger that records all transactions without the need for a financial intermediary like a bank. Think of it as the infrastructure that underlies digital currencies like bitcoin. Blockchain has the potential to speed up transaction settlement times, reduce transaction fees, and could be considerably more secure than current databases, just to name a few advantages.

“Dollar weakness has also been helpful, especially to bitcoin. A falling dollar is great news for U.S. exporters, but it’s not such positive news for investors holding cash. These investors will often seek the safety of gold as a store of value, given gold’s scarcity and use as a currency for more than 2,700 years. Yet some cryptocurrencies, like bitcoin, have protocols that limit the number of coins that can be mined. This creates the perception of scarcity, which has pushed some investors to choose bitcoin, or other cryptos, over traditional commodities, like gold.

“Emotions are clearly playing a role, too. The fear of missing out, or “FOMO,” and watching everyone else make money has coerced both novice and experienced investors into buying cryptocurrencies”.

While Bitcoin comprises nearly 46% of the aggregate cryptocurrency market cap, it’s pretty far down the list of cryptocurrencies worth considering for purchase. Bitcoin, and Litecoin, for that matter, are laser-focused on growing their partnerships with merchants, and have largely ignored the enterprise-based application of their blockchains. While there’s value to be had as a means of money transmittance, I personally believe that blockchain is where the bigger long-term opportunity lies”, says Sean Williams, an analyst from Motley Fool.

On that note, the following 4 cryptocurrencies maybe worth considering over Bitcoin.

Ethereum

It’s the second largest cryptocurrency and has a popular blockchain. Williams says, “What makes Ethereum really stand out is its incorporation of smart contracts, which help facilitate, verify, or enforce the negotiation of a contract. While Ethereum’s blockchain is somewhat similar to that of bitcoin, these smart contract protocols allow it to move beyond currency-only applications. Its blockchain could be used to store information about an application, or can function as a multi-signature account that allows money to be spent when a certain percentage of people agree. Or in the case of integrated oil and gas giant BP (NYSE:BP), it could speed up transaction settlement times to improve energy futures trading efficiency”.

Ripple

Ripple’s token XRP has jumped higher by more than 12,000% since the start of 2017. Akin to Ethereum, Ripple too is attractive because of its blockchain technology. Williams explains, “Ripple is focused on becoming the go-to blockchain for the financial-services industry. The company’s blockchain offers the ability to rapidly proof payments and transactions, which could drastically improve the time it takes for settlement. In particular, Ripple’s blockchain may offer the potential for instantaneous cross-border payments and transactions”. Major banks have tested out its distributed ledger technology in some small capacity or partnered with the cryptocurrency including, Canadian Imperial Bank of Commerce, UBS, Banco Santander (NYSE:SAN), Unicredit, American Express and Banco Santander.

Stellar

Stellar and its coin XLM have witnessed a 10,400% year-to-date gain. According to Williams, “Stellar builds financial products for transactions around the globe. In other words, it’s targeting enterprise clients with high volumes of cross-border transactions. But whereas Ripple is sinking its teeth into big banks and financial-service companies, Stellar is looking at servicing multinational corporations that conduct billions in revenue outside of their home country. Stellar’s blockchain suggests that cross-border payments could settle in just two-to-five seconds.

“What’s more, Stellar also incorporates smart contract protocols into its blockchain. Though they aren’t exactly the same as Ethereum’s, they nonetheless are an attractive addition for enterprise customers”, he says. Stellar is also known to have partnered with IBM and KlickEx for faster cross-border transactions.

Bitxcoin

Bitxcoin is a new cryptocurrency/company that is looking to innovate the Global Payment System. If Bitcoin was started all over again, it would most likely use the superior Ethereum blockchain platform.

Some consider Bitxcoin to be like Bitcoin as a payment system, but Bitxcoin is expected to be better due to its more effective blockchain technology platform. Funds are backed by a spectrum of real estate assets. This can also make it a more stable currency unlike Bitcoin, which suffers from high volatility. This can assist it in becoming a more suitable payment system with the likelihood of being utilised in the long-term. The team consists of successful early stage bitcoin investors looking for the next up and coming cryptocurrency and a development team that’s helped develop several other cryptocurrencies.

For more information visit http://bitxcoin.io 

The cryptocurrency boom could be likened to the Dot Com boom. The currencies with asset backing will grow in value even if there is a future crash one day. However, had Dot Com companies invested into quality assets, many of them would have survived and flourished. While many cryptocurrencies may crash and burn, the ones backed by real assets are likely to be around even 10-20 years from now. This provides a long-term growing asset backed currency that also has liquidity. A professional profile Real Estate Investment Manager is being recruited to oversee the real estate portfolio. It is believed to be a more stable and ideal currency to be used as a payment system in general because of its asset backing and liquidity.

Existing Partners signing up to utilise Bitxcoin as a payment system is just one important reason for an increase in demand for Bitxcoin. Bitcoin Inc. has already agreed to use Bitxcoin to pay out 50% of their member disbursements and the other 50% with Bitcoin.

Bitxcoin will continue to target organisations with large sales or distributer networks to use its Cryptocurrency to pay a portion of the network. As many people and businesses wish to be involved in the cryptocurrency industry, this is one way for them to boost income potential at no extra cost assuming that the Bitxcoin price rises (which is caused by increased demand and users).

For more information visit http://bitxcoin.io 

 

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