Warren Buffett reiterated his stance on cryptocurrencies this week, stating that they will go down at some point. The Oracle of Omaha is the world’s most famous and successful investor, and his words are often followed by the world’s richest investors.
Buffett’s warning has many investors afraid. Other investors are seeking alternatives to bitcoin to pad their portfolio.
Alternatives to bitcoin that are offering high rewards and much lower prices than bitcoin include:
1. Litecoin (LTD)
Litecoin has been around since 2011, so it has some history to look back on and reflect. The currency has about 55 million coins in circulation, with prices hovering around the $230.50 mark on October 12.
Litecoin is an impressive option, with the performance of the currency rising over 6,000% in the 12-month period ended January 3.
Developed by a Google engineer, the currency has an 84-million-coin limit and is also designed to produce more than just cryptocurrency.
Litecoin’s main benefits compared to bitcoin, aside from it being far more affordable, are:
- Faster transactions
- Faster confirmations
- Faster block time
- Actively updated
- GoCoin fully supports Litecoin
Litecoin has a very high level of security, too. The cryptocurrency has the potential to be a great competitor to bitcoin, and in many ways, it’s a more robust option for a cryptocurrency. Add in the longevity of Litecoin, and it only makes sense to consider Litecoin as a strong bitcoin alternative.
2. RaiBlocks (XRB)
A lot of investors are just starting to hear about raiblocks. What is raiblocks? It’s a new cryptocurrency that is disrupting to cryptocurrency market. Relatively new and impressive, this is a high-risk, high-reward cryptocurrency that trades as XRB.
RaiBlocks are very impressive because their price has soared from December when the currency was trading for under $1.
The currency is now trading at around $27, a gain of over 2,500%.
And let’s not forget that the cryptocurrencies main gains have occurred in the past week or so. There are a few reasons for the currency’s rise: a unique blockchain, an increase in exposure and the currency starting to become available on exchanges.
Speed of transaction is also addressed with RaiBlocks.
If you’re looking to pad your portfolio with a high-risk, high-reward cryptocurrency and can’t afford to get in on the bitcoin craze, RaiBlocks is a smart option.
3. Ripple (XRP)
Ripple is a cryptocurrency that was created by former bitcoin employees. The currency trades at around $2, so it’s an affordable option to add into even the smallest portfolio. The currency rose over 41,000% in 2017.
What’s impressive about Ripple is that the company is working with banks to bring the currency to the masses.
Over 100 banks have licensed Ripple’s technology. Ripple has a maximum supply of 100 billion with just 38.7 billion in circulation as of now. Ripple also offers RippleNet, which provides connectivity between payment providers, banks and digital asset exchanges.
These are just the start of cryptocurrency alternatives. Iota (MIOTA) grew by over 500% since it started trading in June 2017, Bitcoin Cash is soaring and Neo grew leaps and bounds in 2017.