Bitcoin alternatives with huge growth potential in 2022

Bitcoin was launched in 2009 by an individual or group of individuals named Satoshi Nakamoto. In the immediate aftermath of the 2008 global economic crisis, many felt the need for a financial system that did not rely on big banks.

Bitcoin was launched with the promise of overthrowing the currently prevalent centralized global financial system in time. However, it is also considered a hedge against inflation as the coin has a limited supply and the source code cannot be changed.

Bitcoin remains the most important cryptocurrency player, but other cryptocurrencies are gaining popularity among investors. Here is a list of 5 cryptocurrencies you should consider investing in if you are looking to diversify your cryptocurrency portfolio and track them.Bitcoin alternative

5 Best Investment Alternatives to Bitcoin with Incredible Potential

1. Ethereum: Ethereum is more than just a cryptocurrency. Ethereum is a blockchain platform that allows a programmer to launch his dApps and smart contracts on the blockchain. Ethereum’s native token is Ether or ETH. ETH is also called a cryptocurrency as it is used to navigate the blockchain on Ethereum and to buy and sell assets on the Ethereum blockchain. Ethereum is becoming more and more popular among decentralized app developers around the world because it is fraud-resistant and runs without downtime, control, or interference from third parties. As we encourage smart contracts and dApps to start on the blockchain, it is becoming a crypto world with various applications such as DeFi and Metaverse games. Until now, Ethereum used a proof-of-work consensus, which has been targeted by environmentalists because it consumes too much energy. We are planning to upgrade to Proof of Stake Consensus which will reduce by 99%, making transactions on Ethereum much faster than ever before. Once the Proof-Of-Stake consensus is finally up and running, participants will be able to stake Ether into the network. This makes the Ethereum network more secure and allows staking participants to earn rewards in Ether. Investors and cryptocurrency enthusiasts await Ethereum 2.0, widely considered one of the most anticipated cryptocurrency developments of 2022. However, ETH is still the second largest cryptocurrency on the market, and if you are looking for an alternative to Bitcoin, you should start with Ethereum.
2. Litecoin: Litecoin or LTC was launched in 2011 by Charlie Lee, an MIT graduate who also worked as an engineer at Google. Litecoin was created in the same cast as Bitcoin, and the two digital currencies use a Proof-Of-Work consensus mechanism to confirm transactions on their respective blockchains. Litecoin is an open source digital payment network, decentralized in nature and not controlled by a central authority.
   The difference between Litecoin and Bitcoin is that Litecoin offers users faster transaction rates than Bitcoin. As of March 2022, Litecoin’s token was trading at $106. Its value has increased more than fivefold in the last year alone, making it a good investment opportunity with high potential future returns. Litecoin is currently the 21st most popular cryptocurrency on the market with a market capitalization of $7.4 billion.
3. Cardano: Cardano or ADA is a blockchain platform very similar to Ethereum, which recently became famous under the name Ethereum Killer. This is because experts believe Cardano can do everything Ethereum can do, but much better. Charles Hoskinson is the co-founder of his Cardano project. If you know the name, it’s because Hoskinson was also one of his five founding members of the Ethereum project. However, after a disagreement over the direction of Ethereum, Hoskinson left Ethereum to co-found Cardano.
   Cardano is unique in that it is created with a research-based approach, with calligraphy experts, mathematicians and engineers at the core of the Cardano project. Cardano is still in its early stages, but he has already beaten Ethereum with its Proof-Of-Stake consensus mechanism. Cardano has big plans for the future and aims to become the world’s leading financial operating system. Who knows if Cardano will be able to overtake Ethereum anytime soon, but it is off to a great start. With a market capitalization of $26.9 billion, Cardano is currently the eighth largest cryptocurrency. His single token of ADA is currently priced at $0.80 and due to this price, ADA is certainly an exciting token to invest in with great growth potential.
4. Polkadot: Polkadot is a blockchain platform that provides users with interoperability between different blockchains. DOT is Polkadot’s native token. Polkadot works on a Proof-Of-Stake consensus model to validate its transactions. What makes Polkadot different from Ethereum is that within Polkadot a developer can create their own blockchain and use his Polkadot security in a concept called shared security. Ethereum allows developers to create blockchains, but security measures must be created as Ethereum does not provide shared security.
   This means that if you are a low-budget developer, Polkadot will be an ideal choice for creating your blockchain. Or, if you want to stay on Ethereum, you risk security attacks against the blockchain. Polkadot also has significant upside potential with its native token DOT trading at his $17.59 as of March 2022. Polkadot has a market capitalization of $17.4 billion.
5. Bitcoin Cash: Bitcoin Cash (BCH) is unique in that it was one of the earliest hard forks of Bitcoin. As you know, cryptocurrencies are decentralized. A vote is taken whenever there is disagreement between developers and miners and discussions and discussions do not lead to satisfactory results. And if the majority of participants on both sides still cannot agree, the digital currency will be split. Bitcoin Cash is one of the first examples of this hard fork. BCH was born in 2017 and currently BCH tokens are trading at $286.97 as of March 2022. Bitcoin Cash has a market cap of $5.5 billion.

There are over 18,000 cryptocurrencies on the market and most of these tokens are overlooked. However, there are still some that are popular among investors and cryptocurrency enthusiasts. These are just five of the things that could be the next Bitcoin and bring diversity to your crypto portfolio.

Given that the crypto market is so volatile, anything that looks good today could be brittle the next. Do not invest in