Introduced in 2009, Bitcoin reached a market cap of $ 1.04 trillion in less than 12 years, whereas major tech companies such as Microsoft took close to 44 years to reach a market cap of $1 trillion. This cryptocurrency is considered the pioneer and trendsetter of the crypto world. In addition, it is the most popular and highly valued cryptocurrency.

However, there are thousands of different cryptocurrencies emerging each day, few undergoing a significant increase in value but many with little value and unclear potential. Therefore, before investing in any cryptocurrency consider visiting cryptolaun.ch for insight on everything about investing.

Have a look at the 5 top cryptocurrencies other than Bitcoin. Let’s get started

Ethereum

Currently, worth $ 289 billion, Ethereum is the second biggest cryptocurrency with 14% of the total crypto market cap. This decentralized software platform is aiming at becoming a global platform for ‘decentralized applications that can be run without any control, downtime, fraud and interference from a third party.

As a result, Ethereum is extensively being used for applications such as borrowing, lending and the issue of non-fungible tokens.

Litecoin

Litecoin, commonly known as the ‘silver to Bitcoin’s gold ‘was developed in 2011. Today, Litecoin is the sixth-largest cryptocurrency worldwide, with a market cap of $ 10.1 billion and a token value of $ 153. The reason behind its development was to address some of bitcoin’s apparent shortcomings and enhance it to use as a cross-border payment method.

Despite Litecoin being similar to Bitcoin in numerous ways, it has a four times quicker payment processing rate and hence offers a faster transaction confirmation time. As a result, Litecoin remains a direct competitor of bitcoin in payment focused applications. As of 2021, designers and a growing number of traders are accepting Litecoin.

Binance Coin (BNB)

Binance coin was launched in 2017 and currently, it has a market cap of over $ 70 billion and a token value of $44.26. Binance coin is the cryptocurrency of Binance, one of the leading cryptocurrency exchanges worldwide. You can use BNB for trading and paying fees. Additionally, Binance coin can be used to facilitate payment processing, booking travel arrangements and runs a decentralized exchange.

This cryptocurrency also runs on Binance Chain and Binance Smart Chain which rely on Binance coin to pay for transaction and trading fees.

Dogecoin (DOGE)

Having started as a joke back in 2013, Dogecoin rapidly rose to popularity, thanks to billionaire entrepreneur, Elon Musk, who largely endorsed this cryptocurrency. Today, Dogecoin has a market cap of over $ 40 billion. However, Dogecoin has no limit to the number of coins that can be created, meaning its value could depreciate as supply increases.

The good news is, Tesla chief, Elon Musk has been in collaboration with dogecoin developers to ensure dogecoin is more sustainable in the future.

Tether (USDT)

With a market cap of over $ 64 billion, Tether, is a unique cryptocurrency backed by fiat currencies such as the Euro and the United States dollar. This cryptocurrency keeps an equal value to one of these fiat currencies.

A lot of investors are opting for Tether due to the extreme volatility of other cryptocurrencies.