Bitcoin is easily the most popular blockchain-based cryptocurrency. Today, well after its launch in 2009, it continues to be the most valuable and largest virtual currency by market capitalization. With the recent launch of Bitcoin Cash, this trend is likely to continue for the near future.
Despite the ubiquity of Bitcoin and Bitcoin Cash, hundreds of alternatives — known as alt coins — are available to investors today. While many alt coins are simple clones that exist for no other reason than to saturate the marketplace, the best alternatives to Bitcoin refine and improve the platform, offering benefits for users and investors alike.
WHY IS A BITCOIN ALTERNATIVE NECESSARY?
Bitcoin may have been the trendsetter when it comes to digital currency, but — as with any platform — there’s always room for improvement. Particularly because of Bitcoin’s large user base and market capitalization, there’s less opportunity to experiment with the system. Alt coins have emerged in part as a way of testing out new ideas, including next generation blockchains, different hashing algorithms and alternatives to the mining system used to unlock new Bitcoin.
BITCOIN ALTERNATIVES AND SUSTAINABILITY
One of the biggest criticisms of Bitcoin revolves around the massive amounts of computer power required to mine it. Critics argue that increasing competition between miners has made it unsustainable. For this reason, many Bitcoin alternatives used premined coins, distributing them according to a predetermined schedule. This also provides increased control over valuations and keeps currency accessible to those who want to buy it.
BENEFITS OF INVESTING IN A BITCOIN ALTERNATIVE
Sustainability is just one of the many potential benefits of investing in a Bitcoin alternative. Many people choose to invest in alt coin for the same reasons they would buy into an upstart company — the potential for great rewards for those who get in on the ground floor. As well-known as Bitcoin is today, there’s no telling what the future of digital currency holds. It remains a growing market that has the potential for disruption at any time.
Already, several potential alternatives to Bitcoin have emerged. As of August 2017, Ethereum has a market capitalization of $31 billion, making it second only to Bitcoin itself. Ripple, Litecoin and NEM are also gaining in popularity. Whether any of these — or an entirely different product — emerges as a true alternative to Bitcoin remains to be seen.
Aureus is one of hundreds of alternatives to Bitcoin available today. So what makes us different from the competition? Our product is fast, has low fees and unlike other alt coins, its value is based on real-world economic performance. Aureus is backed by a 15,000 BTC reserve fund and professionally managed by the team at Cryptocrest. Ongoing third-party auditing by Selachii DAA provides an additional measure of confidence in our product.
Ultimately, making a smart investment in any Bitcoin alternative requires a considerable amount of research. To learn more about our product and find out if it’s the right choice for your investment needs, download our free white paper or speak with a representative directly.