5 of the best Bitcoin alternatives and competitors in 2020

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bitcoin analysis

Bitcoin is a peer to peer decentralized money transfer system which does not rely on a third party to validate or confirm the transactions. Bitcoin was launched by Satoshi Nakamoto in 2008 and since then the price for one bitcoin has moved up. Bitcoin unique proposition led to many companies launching their own bitcoin alternatives. Many investors looking to invest in alternatives to bitcoin as it can give them a good return. 

Bitcoin by many investors is considered as a digital form Gold. But the price for one bitcoin is very high. Bitcoin my some people is considered to be outdated and does not have the technology to scale it to become an alternative to fiat currency. 

Bitcoin cash: A bitcoin fork

Transaction fees for transferring Bitcoin were getting very high and that’s when Roger ver and few other crypto enthusiasts decided to fork bitcoin into Bitcoin Cash and Bitcoin SV. Bitcoin cash is used in many places as a point of payment and according to the company bitcoin cash is very reliable to use. 

Bitcoin has a block size of 1 mb which can process up to 2 to 7 translation per second while the block size of bitcoin cash is 8Mb which make it a google alternative to bitcoin

Transaction time

1 min to 30 mins  

Where to buy Bitcoin Cash?

Bitcoin cash can be purchased at most of the major exchanges like Binance, coinbase, Okex, bittrex and many more.

Price of bitcoin cash

$240 at press time

Market cap of bitcoin cash

$4.4 billion at press time

Website

www.bitcoincash.org

Key people

Roger ver

My Review on Bitcoin cash

If you are looking for a bitcoin alternative which is not as valuable as bitcoin then bitcoin cash is good. But I would definitely recommend Bitcoin as its value has been growing at a very fast pace. People from all around the world are looking for bitcoin as an alternatives source of investment.

Ethereum: A smart contract 

Ethereum is an open-sourced cryptocurrency where users can not only use it as a source of payment but also can create smart contracts over it. Vitalik Buterin and  Gavin Wood founded ethereum to make more uses of blockchain to create decentralized application (dapps)

With the ethereum blockchain, users can create their own smart contacts and create cryptocurrencies. 

Ethereum is one of the best bitcoin alternatives with features and uses that are better than bitcoin. Bitcoin is used as only as payment and store of value but Ethereum has many use cases.  

The team behind ethereum is constantly working on developing the product which makes it a better alternative to bitcoin.

Transaction time of Ethereum 

5 seconds to 15 mins

Where to buy Ethereum

Ethereum can be purchased in most of the exchanges all over the world so you don’t have to worry about buying and selling ethereum. Make sure its legal to purchase cryptocurrency in your country.

Price of Ethereum

$236 at press time

Market cap of Ethereum

$26 billion at press time

Website

www.ethereum.org

Key people

Vitalik Buterin and  Gavin Wood

My review on Ethereum

Ethereum is one of the best bitcoin alternatives which can be used to build smart contracts. Users can create decentralized applications on the Ethereum blockchain. Ethereum blockchain takes the bitcoin blockchain to the next level.

Bitcoin SV: A bitcoin fork

Bitcoin SV was created after Bitcoin was hard forked. Bitcoin was hard forked in 2017 and Bitcoin cash and bitcoin SV was created to become a better alternative to bitcoin. Bitcoin SV has been built to reduce transaction time and make it more practical to replace fiat currency.

Bitcoin SV can be used as a payment method and could be a good alternative to bitcoin as the translation time would be quicker.

Transaction time

1 min to 30 mins  

Where to buy Bitcoin SV

Most of the exchanges like binance, Okex have listed Bitcoin SV so you don’t have to worry about buying and selling Bitcoin SV. Many exchanges have also listed for fiat trading so trading becomes easier.

Price of Bitcoin SV

$171 at press time 

Market cap of Bitcoin SV

$3.15 billion at press time 

Website

www.bitcoinsv.com

My Review on Bitcoin SV

Bitcoin SV almost simpler to Bitcoin cash you if you are looking to buy bitcoin cash then Bitcoin SV is a good alternative to bitcoin cash. The price of bitcoin cash has been volatile just like every other cryptocurrency. 

Litecoin

Litecoin is one of the oldest cryptocurrency in the list after bitcoin. Litecoin the bitcoin alternative and altcoin was stared in 2011. Litecoin processes a block every 2.5 mins and translation time is very fast. 

After adopting the lightning network users can transfer litecoins in one second making it one of the fastest in this list of best bitcoin alternatives.

The price of litecoin has not been very volatile like other cryptocurrencies. Litecoin was also created after bitcoin was forked. 

Transaction time

1 second to 10 seconds

Where to buy Litecoin

Most of the exchanges have listed litecoin for buying and selling in fiat currency. Many exchanges also use litecoin for trading. If you are looking to buy cryptocurrency then you dont need to worry we 

Price of litecoin 

$42.67 at press time

Market cap of litecoin

$2.7 billion at press time

Website

www.litecoin.org

My Review on Litecoin

Litecoin is one of the oldest alternatives to bitcoin from this list and since its inception, the price of litecoin has moved up in value to even touch the $300 mark.

Tron 

Tron was built on the ethereum blockchain in 2017 and moved to its own peer to peer blockchain in 2018. The company raised $70 million from its IPO in 2017. 

Torn can perform over 2000 seconds making it one of the fastest in this list of best bitcoin alternatives. Justin Sun is the founder of Tron and currently has a market cap of $1.04 billion. 

Tron also purchased the popular free movie download site BitTorrent in 2019 and since its foundation, Tron is known to have purchased many companies. 

Transaction time

1 to 10 seconds 

Where to buy Tron

Tron is a very popular cryptocurrency and is available for trading in fiat and other cryptocurrencies.  

Price of Tron

$0.00015 at press time

Market cap of Tron

$1.04 billion at press time

Website

www.tron.network

Key people

Justin Sun

My Review on Tron 

Tron is a very popular cryptocurrency but I would choose other cryptocurrencies in this list if I’m looking for an alternative to bitcoin. The translation time for Tron is very quick as is has it own proof of work blockchain network. 

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