There are over 1,700 cryptocurrencies in circulation today. And while Bitcoin is still the most famous and valuable of them all, it’s far from the only one. In fact, there are so many cryptocurrencies in the market that nobody even knows how many there are—estimates vary from 5,000 to 30,000.
With so many options on the table, it can be hard to know where to start when it comes to investing in cryptocurrencies. That’s why we’ve compiled a list of seven lesser-known coins that you might want to consider adding to your portfolio.
One of the best ways to learn about cryptocurrencies is to read up on their history. This way, you’ll be able to understand why they were created and what purpose they serve in our current economy.
One cryptocurrency that has been around for quite some time is Solar Bankers Coin (SOL), which was created in 2017 as a token built on Ethereum’s network. Sol is used for payments on Solar Bankers’ platform, but it can also be traded as an investment option outside of this use case.
The SOL currency is decentralized—meaning it isn’t controlled by any one individual or entity—and uses peer-to-peer technology, so transactions aren’t made through middlemen like banks or credit card companies. It’s also not backed by any sort of physical asset; instead, its value comes from people willing to buy and sell it at different prices over time.
DOT is a cryptocurrency that is used for payments and transactions. It’s also a fork of the Litecoin blockchain.
DOT is a PoW cryptocurrency. This means that you can mine it using your CPU or GPU, but there are no ASICs available for mining this currency at the moment, so you won’t be able to use your ASIC miner if you have one. The maximum block time for DOT coins is 10 minutes and the current block reward is 1250 coins per block mined by miners (this will halve once every four years).
DOT can currently only be traded on the YoBit exchange. However, this may change in the future as more exchanges start offering DOT trading pairs in their markets.
Bitcoin Cash (BCH) was created as a result of a hard fork on August 1, 2017. A group of people who did not agree with the way that BCH was being managed decided to create their own version of Bitcoin Cash with their own rules.
Bcash is a fork of Bitcoin and shares some similarities in terms of its features and functionalities. However, there are several important differences between these two cryptocurrencies which make them stand out from each other significantly:
- Block size: Bcash has a 32 MB block size compared to 2 MB for Bitcoin, allowing faster transactions at lower costs;
- Open source: The original source code for BCH is open source, making it easier for developers around the world to add new features to their software applications; These two factors make using BCH more efficient than using BTC.
XLM is a cryptocurrency and the native asset of the Stellar network. The cryptocurrency is also known as Lumens, STR, and Stellars. XLM was created in 2014 by Jed McCaleb, who co-founded Ripple (XRP), which he later sold to Chris Larsen. The Stellar network runs on a distributed ledger called the Stellar Consensus Protocol (SCP), which helps prevent double-spending and provides an immutable record of all transactions on the blockchain.
The project started as an offshoot of Ripple but quickly grew into its own entity with its own unique technology and development team. The goal was to create a distributed payment system that could move money quickly around the world at low cost while maintaining security standards comparable to those used by major financial institutions like Visa or MasterCard.”
ZEC (Zcash) is a privacy coin that is a fork of Zclassic. It was launched in October 2016, and it’s not as popular as other privacy coins such as Monero or Grin. Zcash has the same hashing algorithm as Bitcoin and Ethereum, making it possible for miners to mine both BTC and ETH on the same hardware.
You should invest in Zcash if you’re looking for something different in your cryptocurrency portfolio—it’s not as well known as other cryptocurrencies but still worth a look. The price of ZEC has dropped since its all-time high, which means now could be an excellent time to buy this promising coin!
Ripple (XRP) is a cryptocurrency that is used for cross-border payments. That means it can be sent from one country to another almost instantly, without the need for intermediary banking partners or any other intermediaries. Ripple’s goal is to make global money transfers faster and cheaper than ever before using blockchain technology—a way of storing data across multiple computers that allows each party on the network to track changes in the information over time.
Ripple takes advantage of this characteristic, allowing users to send money quickly and cheaply across borders via its own proprietary cryptocurrency called XRP, which was created by its parent company: OpenCoin Inc., which was later renamed Ripple Labs, Inc. after they moved away from OpenCoin Inc.’s open-source solution in favor of a closed-source model developed by them alone.
The first cryptocurrency that you can think of is Bitcoin. Bitcoin was the first digital currency, and it’s still the most well-known cryptocurrency today.
But there are a lot more cryptocurrencies out there than just Bitcoin. There’s Ethereum, Litecoin, Dash, Monero—the list goes on and on! Each one has its own unique features that make them different from each other, and some are better for different things than others.
What makes these other cryptocurrencies so useful? Why should you care about them when there’s already an established leader in space? These questions will help guide you through this article as we explore 7 other coins that are worth knowing about if you want to get into crypto investing or trading.