Bitcoin (BTC) established its prominence at the top well before any other types of digital currencies were minted on the blockchain. Other crypto coins get in line, which is also known as “altcoins”. Following Bitcoin’s popularity, thousands of new altcoins or alternative coins were created and brought into the crypto space.
Altcoins are any kind of crypto coin other than Bitcoin. The most popular altcoin in the crypto ecosystem is Ethereum (ETH).
A lot of crypto traders and investors are highly interested in the crypto market for its highly volatile nature owing to the bloom of thousands of digital assets. These cryptocurrencies are acquiring wide popularity for their seamless payment transactions in a very short time.
The cryptocurrency market’s worldwide size is anticipated to hit $2.2 billion in 2026 with a compound annual growth rate (CAGR) of 7.1%. There are a lot of digital currencies with huge potential other than Bitcoin in the global crypto market.
Crypto investors should know these top altcoins with bright and promising futures other than the top cryptocurrency to possibly generate massive profits in the crypto wallets at some time of the investment.
Start Your Cryptocurrency Investment
There are a lot of ways to start your cryptocurrency investment. However, given the numerous scams and frauds that exist out there in the crypto space, it can be challenging and also frightening to execute your investment.
The best way to get started is to choose a reputable and well-established crypto platform or exchange. You can rely on the Bitcoin Motion platform in starting your crypto trading or investment since you can find a lot of good reviews and advantages from the user testimonials in using this trading software.
In this article, let us take a look at the overview of the top alternative coins in the crypto space beyond Bitcoin (BTC), as well as their use cases.
Ethereum is a decentralised platform that allows smart contracts and dApps (Decentralised Applications) to be built and run without any interruption, trickery, interference, or control coming from a third party.
Ethereum aims to establish a decentralised suite of financial products or services that any type of individual in the global population can easily and freely access, such as insurance, loans, bank accounts, or other various financial products or services.
Binance Coin (BNB)
Binance Coin (BNB) is a type of digital currency that you can use to trade and for fee payments on Binance, one of the biggest cryptocurrency exchanges in the global crypto market. Binance Coin has grown past simply facilitating trades on the Binance crypto exchange since it was established in 2017. It can now be used for trading, processing payment transactions, or even on travel bookings. BNB crypto coins can also be traded for other types of digital assets such as Bitcoin or Ethereum.
Solana (SOL) was established in 2017. It was a blockchain-based platform built to support decentralised applications (dApps). This cryptocurrency is also known as the “Ethereum killer” since it outperforms Ethereum in processing transactions per second. Also, its transaction fees are charged quite lesser than Ethereum.
Both cryptocurrencies can create smart contracts which are necessary to run cutting-edge applications, including decentralised finance (DeFi) and NFTs (non-fungible tokens).
Polygon (MATIC) was established in 2017 that aims to scale the blockchain network of Ethereum. It uses a layer two scaling solution built on the Ethereum blockchain. It helps make the transactions quicker with lesser fees.
Polygon has emanated as one of the top layer two scaling solutions that develop the scalability of the blockchain network of Ethereum. This project is currently supporting more than 7,000 blockchain-based projects.
Litecoin (LTC) was among the first digital currencies to follow in the footsteps of Bitcoin. This crypto coin is generated on an open-source payment network worldwide in which no single central authority can control and interfere. It uses scrypt as a PoW (Proof of Work) which can be encoded with the aid of consumer-grade central processing units.
This crypto coin has a quicker block generation rate, thus providing a faster confirmation time during transaction processes.
While there are a lot of crypto assets that have grown in value, their highly volatile nature still needs to be considered. Whatever type of investment you are trying to get into depends on your risk tolerance or appetite, age, investment strategies, and more.