The best altcoins in the crypto market today

Cryptocurrency has always been reliant on Bitcoin over the years. With that, altcoins have also risen in popularity. It is not hard to see the number of altcoins around. Let’s talk about the top altcoins in the market.

Bitcoin has and will most likely continue to be the number one cryptocurrency in the world. It was the first cryptocurrency in the market since its release in 2009. It is not only the most popular but it has also been accepted by many governments around the world as a legit asset.

Even El Salvador has accepted Bitcoin as a mode of payment at the national level. Bitcoin has reached the mainstream and it will be hard to remove it from the market now. Since you’re on Gamdom, you might have the chance to use this crypto in our Bitcoin casino in case you want to play games or bet on your favourite sports. You can use the casino cryptocurrency that you can buy.

Despite its popularity, BTC has trouble with the volatility of its value. This has led to people looking for other options.

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Why altcoins are important 

Before we dive into the top altcoins in the market, let’s talk about why altcoins are important. Competition is key for a market’s growth and seeing Bitcoin dominate is unhealthy. Since they have legit competitors, you can see that it will stabilize the market because it’s not controlled by one asset.

There are over 12,000 cryptocurrencies in the market right now and it is hard to predict what will be the top choices in the future. However, we have data that can prove that some altcoins are better than others which we will dive into now. 

Ether (ETH)

Ether is probably the most popular cryptocurrency outside of Bitcoin. It also helps that it has Ethereum which is its own decentralized platform that enables smart contracts to be made. The creators behind Ethereum created for people to have the freedom to access their assets regardless of their circumstances. That was a good vision for the asset which is why it has resonated with so many people over the years.

Launched back in 2015, Ether has climbed the ladder of the most popular assets in the crypto market. It should not be a surprise that Ether is a top choice because the Ethereum platform has convinced so many people around the world to invest. The popularity of products like non-fungible tokens (NFTs) has become a strong reason why Ether has also become more valuable.

You should expect Ether to be a strong altcoin for years to come as Etherum keeps growing. It will rise like crazy because of its presence in the system and it’s a solid cryptocurrency at the end of the day. It is valuable and it has the best potential to overtake Bitcoin as the number one cryptocurrency in the future.

Litecoin (LTC)

Back in 2011, Litecoin was introduced as one of the cryptocurrencies that can follow in Bitcoin’s footsteps. Often talked about as the little brother to Bitcoin, LTC was created by former Google engineer, Charlie Lee.

He created LTC based on an open-source global payment network that isn’t controlled by any central authority. Lee wanted to improve upon Bitcoin so he helped LTC have characteristics that were much better than their BTC counterpart.

It is often compared to BTC for many reasons but it does have a faster block generation rate which means it has faster transaction speeds. The comparison between their speed has been a constant talking point because BTC’s transaction speed is often seen as one of its downsides.

As of September 2021, it has a market capitalization of $4 billion and a per token value of around $190. That is huge compared to the other altcoins because LTC has proven that it is still a strong contender and it will only grow as time goes on.

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Cardano (ADA)

Charles Hoskinson was one of the co-founders of Ethereum but that did not stop him from venturing further into the crypto market. This led to the creation of Cardano because it looked to improve upon what Ethereum did.

It was created with the help of peer-reviewed research which matters in this context because it helps Cardano with other cryptocurrency’s mistakes. Over 90 papers were written about blockchain tech that went into developing Cardano. It is not a surprise that Cardano is revered by researchers as they see it as a proven asset.

Often dubbed as the best alternative to ETH, ADA is geared towards the goal of helping the world have a better financial system. Hoskinson had a good idea of how the crypto market works and it shows with ADA.

It has solid value and it will get stronger with time as it has a market cap of $71 billion and a per token value of $2.50 as of September 2021. That is massive because people who are immersed in the market see ADA growing further to the point where it can match ETH and Bitcoin at the top of the food chain

Tether (USDT)

Tether was created as one of the first and strongest stablecoins. These are cryptocurrencies that are aimed to improve their market value by reducing volatility. Bitcoin has always been volatile which is a huge issue for most cryptocurrencies. 

Tether’s price is directly tied to the price of the US Dollar which is why volatility is not a big issue here. When it was launched back in 2014, Tether was described as a blockchain-enabled platform that was designed to use fiat currencies in the digital space. 

It has great value as it has a market cap of around $68.3 billion and a per token value of $1 which should be obvious given its connection with the USD. Tether will most likely be more popular in the future because it has a stable value. It is difficult to secure this kind of stability because the volatile nature of crypto is harsh to some cryptocurrencies.

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Monero (XMR)

Monero is mostly seen as a secure and untraceable cryptocurrency. It was launched in April 2014 and it quickly became a favourite for people interested in cryptocurrency outside of the Bitcoin wave. XMR is donation-based and community-driven which is a huge strong suit.

It enables complete privacy using its special technique called ring signatures. This technique involves a group of cryptographic signatures popping up with at least one real participant. This hides it well which strengthens its privacy. You can expect this to be helpful especially for people who want to keep their transactions private.

As of September 2021, Monero has a market cap of $245 million and a per token value of $265. Its value is not as high as the others listed on here but you can expect some stability to stem from Monero in the next few years.

Polkadot (PDT)

Polkadot is one of the most underrated cryptocurrencies in the market. It is aimed to develop relationships between other blockchains. Polkadot might be compared to Ethereum but the former is better in terms of its security measures. When you create new blockchains, you won’t have to create new security measures with the Polkadot system that focuses on shared security. This is different from Ethereum where you have to devise your own measures.

Gavid Wood was also an Ethereum co-founder. Just like Hoskinson, he had a different vision of the project’s future which is why he created his one cryptocurrency with Polkadot. In terms of value, as of September 2021, PDT has a market cap of around $35 billion and one DOT trades for $35.25.

Stellar (XLM)

Stellar is an open blockchain network designed to give enterprise solutions by connecting financial institutions for large transactions. When you look at traditional modes of payment, when it comes to big transactions, it will take several days. When Stellar is used, you can expect that it will be done almost instantly.

The founder of this team is Ripple Labs founding member Jed McCaleb. He left his role at Ripple when he co-founded the Stellar Development Foundation. Stellar has a strong market cap of $565 million and its per token value is around $0.33 as of September 2021.

Bitcoin Cash (BCH) 

Bitcoin Cash is one of the most valuable altcoins over the years. It is one of the most successful hard forks from the original Bitcoin. The fork takes place as the result of disputes between developers and miners. Since crypto is decentralized, you can expect some people to want wholesale changes.

BCH was created back in August 2017 as a result of one of those splits. One of the biggest reasons why it grew so much over the years was the scalability issue. The Bitcoin network has a size limit for its blocks at one megabyte but BCH has 8 MBs itself. 

These larger blocks can hold more transactions within them and the speed is also increased. As of September 2021, BCH has a solid market cap of around $12 billion and its per token value is around $640.

Altcoins are good investments

The market for altcoins is vast which is why we have named so many cryptocurrencies today. You will have a good time with your crypto market activities if you invest in altcoins too rather than focusing solely on Bitcoin. You might even have the chance to use these altcoins well on a Bitcoin casino as a casino cryptocurrency.

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Words: Pocholo Magsino