Cryptocurrency is a form of digital money that is secure. However, most forms of currency found online cannot be described as both secure and anonymous. The most common type of cryptocurrency is bitcoin. Bitcoin was created in 2009, and it uses encryption techniques to regulate the generation of units. These techniques are also used in the verification of transferred funds. Due to its increasing popularity worldwide, people want to move their finances to this type of digital currency. But we all don’t need to use bitcoin to use digital money. The followings are a few alternatives to Bitcoin if you are considering using cryptocurrency.
This type of crypto currency was launched in 2011. It was among the first forms to pop up after Bitcoin. Charlie Lee is credited with coming up with Litecoin. It is a free to use global payment system. Litecoin does not fall under guidelines set by any specific authority and can be decoded by processors of consumer grade. Among of its benefits is the fact that it has a faster block generation rate. This means that it offers a faster transaction confirmation.
This type of cryptocurrency was invented back in 2012. Peercoin is considered to be the energy saving type of cryptocurrency as less energy is used in the mining process. It also has a low inflation rate when compared to other cryptocurrencies such as bitcoin in the market.
This open source cryptocurrency was launched in 2014. Monero was designed with a strong focus on decentralization and scalability. This allows it to offer complete privacy by using a special technique known as ring signatures.
Dash was launched in 2014 as dark coin before being rebranded as dash in 2015. This type of cryptocurrency was created and designed by Evan Duffield. Dash offers more anonymity when compared to Bitcoin as it works on a decentralized master code network. This allows transactions that are paid for by dash to be virtually untraceable.