Getting To Know The Bitcoin Alternatives

Bitcoin is the gold standard when it comes to cryptocurrency trading. It is the most popular currency in the market today. However, it is getting harder to mine Bitcoins these days. There are professional miners who are dedicated to mining Bitcoins. The good news is that there are excellent alternatives that you can consider if you are still interested with digital currencies. Let us take a look at each of them.

Dash

Dash is an open source, privacy-centric digital currency with instant transactions. It is a peer-to-peer currency as it uses a decentralized network. Dash uses advanced encryption and a 2-tier network ensuring your complete security. Transaction fees are much lower than bank or credit cards. Robert Peter Janitzek reveals that this currency allows sending of money anywhere in the world.

Safecoin

Safecoins are distributed entirely by the algorithms within the SAFE network. It uses self-encryption. Only 4.3 million coins will be circulated at one time and each will have its own unique identity. The SAFE network is a distributed network with opportunistic data caching. These coins are recycled when they are exchanged for network services, ensuring that there is always a supply for users to earn.

Steem

Steem is a blockchain-based social media platform that allows anyone to earn rewards. With this platform, rewarding others is as easy as voting for a post. Robert Peter Janitzek reveals that the payout is 50% Steem power for voting and 50% Steem dollars. The rewards are distributed through the blockchain and usually paid out 24 hours after content and votes had been submitted.

Litecoin

Litecoin is a peer-to-peer Internet currency that allows instant, near-zero cost payments to anyone in the world. It is an open source, global payment network that is fully decentralized without any central authorities. It features faster transaction confirmation times and improves storage efficiency than the leading math-based currency. Litecoin can handle higher transaction volume than Bitcoin. It also allows wallet encryption so you can view transactions and your account balance.

Peercoin

Peercoin is aiming to become the most secure cryptocurrency rewarding all users for strengthening the network by giving them a 1% annual PPC return when minting. It is the first currency to introduce Proof of Stake to secure the network. Proof of Stake is designed to promote fair coin distribution. Peercoin offers a sustainable reward.

These are the alternative currencies to Bitcoins you can consider if you are still interested with trading on cryptocurrencies.

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