The most commonly known cryptocurrency at the moment is Bitcoin. The popular cryptocurrency is already the most expensive globally, with its price per coin nearly hitting $20,000 in 2017.
Although some people do not believe in the hype of cryptocurrency and believe that the whole thing could end up being a bubble, people are still actively investing in cryptocurrencies.
People who bought Bitcoin in its earlier days are now holding coins worth thousands of dollars. However, the current price of Bitcoin has limited its potential investors.
Unknown to a lot of people, Bitcoin is not the only cryptocurrency in the world. There are several other coins that not famous but are steadily building their way up.
This article will show you some of the lesser-known cryptocurrencies available that you can invest in. these are relatively cheaper than Bitcoin.
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What Is Cryptocurrency?
A cryptocurrency is a digital currency that is hard to counterfeit and uses cryptography. It can also be referred to as a virtual currency since it is not seen physically.
Cryptocurrencies are digital because they are only seen and traded on the internet. Its value is, however, measured in physical cash.
Some Popular Cryptocurrencies You May Not Have Heard Of
Many of the cryptocurrencies today have their origin, such as their structure and networks to Bitcoin since it was probably the first cryptocurrency in the world.
Vertcoin is one of such coins. It has been built to include additional decentralization measures.
The team that developed it also has a good record of improving the network. There are an estimated 41 million Vertcoins in circulation, while the coin has a maximum supply of 84 million.
One Vertcoin currently sells for $1.11, although the currency has been tipped as being highly volatile.
This is another digital currency that has its focus on securing payments between machines. IOTA is unique from the other cryptocurrencies because it does not feature a blockchain support network like the others.
It uses direct acyclic graph technology. Its transactions do not come with any charges at all, no matter the size of the transaction itself.
IOTA also allows for scalability as well as a faster processing time and an unlimited number of transactions.
Bitcoin, which leads the cryptocurrency pack, has issues with all these features of IOTA. IOTA may dominate the cryptocurrency industry if it can capitalize on those features, thereby surpassing Bitcoin in the process.
One IOTA currently sells at $2.21, with a possible low selling price of $0.57. This makes it one of the cheapest cryptocurrencies that you can invest in at the moment.
Cardano is one of the fully-open source cryptos available. This crypto looks to change the ways of small contracts by revolutionizing them.
It seems to bring better and advanced features than any that has been developed already. Being one of the cheapest cryptos, Cardano has a price per coin of $0.93.
Cardano also has over 26 billion coins in circulation out of its maximum of 46 billion coins.
This is open-source project is a peer-to-peer cryptocurrency that was released under MIT/X11 license.
This cryptocurrency was an early spinoff of Bitcoin and is identical to Bitcoin. The Litecoin Core development team developed Litecoin.
It has a circulation of over 62 million out of a maximum supply of 84 million. It is also accepted in any transaction that deals with PayPal. Litecoin now sells at $185.77.
It is up for debate about whether any of these lesser-known cryptocurrencies would overtake Bitcoin in the industry.
Some of these lesser cryptos have some fantastic features that are not found on Bitcoin. However, looking at the price ranges between them, it is clear that these lesser-known crypto have a long way to catch up with Bitcoin.
However, since no one can tell the future, people interested in investing in these would have to keep their eyes on them and observe everything for themselves.
You can alsco read this guide covering everything you need to know about Litecoin.