In monetary terms, everything has changed since 2009, or if nothing else, it was the first sign that things are changing. This global currency revolution was just the beginning of something that is very popular today, something that everyone is talking about, and something that will probably mark our future. Bitcoin as a synonym for cryptocurrencies was the first official cryptocurrency to come out and shake up the market. Namely, when it all started, there were a lot of people who were skeptics, a lot of them who did not understand how everything works, but over time it all changed, so that today there are almost no people who are not even familiar with elementary things related to cryptocurrencies.
Today, when we look at the value of this digital money in the very beginning, and when we know all the things that happened and how many experts challenged the very idea of blockchain technology, we are surprised that the price for 1 BTC in 2009 was only $ 0.0008. Of course, this was only the beginning, but even then, we could notice that it would be something completely different and something that will impact the whole world. Today, that price is 36,134.50, and it only more than a decade passed.
Like any other banking system, it has its advantages and flaws, but when we summarize everything, it is clear that there are many more benefits, especially in comparison to traditional banks. However, a certain number of people who were victims of cyber attacks are proof that not everything is so ideal and that there is no possibility of theft or some other fraud. But even with that, it still has the best security and represents something that people should invest in. The developers are regularly working on improving the security of users, their personal data, and money.
Of course, as with many things today, there is always something that could be of threat, and when we speak about BTC, there will always be some new cryptos that could pose a threat to it. That is why we will now take a closer look at the five biggest cryptocurrency threats to BTC, and for more info on that or if you want to start trading, be sure to check out bitcoinbillionaire, a great website to begin with your crypto journey.
With the new payment system, Ripple represents the main competition to BTC in the coming period. What makes this new system different and better is the much better security and speed of transactions, which is now available. But it’s not just the new system that makes Ripple one of the currencies that you should invest in (if you still haven’t done so), but also the fact that in the last year, they spread their business network to more than 40 countries and more than 300 providers.
What definitely sets this cryptocurrency apart from others is that unlike others who have a lot of problems with the traditional banking system and banks overall, Ripple cooperates with them and represents the infrastructure behind all these transactions. All this is and will be a great advantage that will probably influence the value rise of the XPR (the company’s cryptocurrency).
This currency, which is very popular among bankers and in the business world overall, is one that is expected only to grow and be of great value from the very beginning. Since 2015, when it was created until now, it has recorded ups and downs, and even split to Ethereum and Ethereum Classic, with the first one being far more popular and valuable.
During 2020, it was also successful, although the year itself was very challenging, and it is predicted that this currency, with its open source blockchain network, will record even greater growth this year.
Ethereum has the second-largest liquidity, right after BTC, and a large number of users worldwide. What is also an advantage is the fact that there is a lot more of this currency, which means that it will less likely have problems with scaling, something that people speak a lot about BTC and Litecoin.
In the world where undoubtedly BTC is the gold, the silver is surely Litecoin. Although the past year was not that successful, there is no person that will doubt LTC’s potential and value. The launch of the first RPG fantasy game based on Litecoin had a great effect and in only a few days increased the number of its transactions by more than 100.000. With a pretty affordable current price of 146.43 dollars and with such high potential, it is no wonder why this crypto poses a threat to BTC.
Unlike BTC and its proof of work, Cardano is based on a proof of stake blockchain platform. What makes this platform unique is the fact that there are actually two platforms that work together, and while one deals with transactions, the other deals with smart contracts. The Cardano reached a market capitalization of 4 billion last year, and since it is still a pretty new currency (launched in 2015), there is only room to grow.
Every crypto is different, and it was created for different purposes, and the same is with TRON – crypto developed to reform the entertainment industry. Today, it is one with immeasurable potential, and with the whole system working that when someone shares content, they get TRX, and with more than 4 million accounts, the rise of TRON is something that should not surprise anyone. Because of all these reasons, most experts believe that TRON is the currency of the future and the one crypto that no one should overlook.
Everyone has crypto that suits them the most, some follow trends, and others are solely focused on the money, but these five cryptos mentioned above are for sure those who pose the biggest threat to BTC. It is unlikely to happen soon, as Bitcoin has all the advantages, and some of them, like TRON, are yet to prove themselves. One thing is certain – the time of fiat currencies has passed, and the cryptocurrency is the money of the future.