The rise in the value of Bitcoin dominated the cryptocurrency market in 2020, but in 2021, lesser-known digital currencies could develop.
Investors may want to follow other, cheaper, digital currencies and tokens.
Ripple is a coin tied to XRP, a blockchain that is advertised as a payments platform that enables faster and decentralized exchange of currencies and remittances compared to ordinary bank transfers.
Although Ripple is not possible to mine like Bitcoin, some consider it a viable alternative to the foreign exchange payment system, especially for small transactions.
Ripple also recorded a sharp rise in value over the past month, climbing about 107% since the end of November to $0.60.
Although Litecoin lost its luster after its appearance in the early 2010s as the first altcoin, it still attracted users to its platform as a faster way to conduct transactions compared to the long-standing nature of the Bitcoin blockchain.
Litecoin also offers a cheaper entry point for new crypto investors than more expensive Bitcoin, because despite an increase of 167% this year, it is still trading at around 140 US dollars.
This cryptocurrency does not occupy the dominant position it once was, however, investors may want to take it into account again.
As blockchain technology continues to expand its polarity, more and more projects are emerging to take advantage of the system, one of which is Cosmos.
However, unlike other altcoins on the market, Cosmos aims to address some issues regarding the scalability of different blockchain platforms and their ability to interact.
Although the token is currently on the cheaper side of about $6 apiece, Cosmos could experience a wave of investor interest if it manages to pull off its ultimate goal of connecting blockchain chains, potentially opening up whole new methods for technology to function and interact.
Despite the fact that the name is closely related to the original cryptocurrency, Bitcoin Cash is not correlated with Bitcoin itself.
Bitcoin Cash cannot be used for transactions on the original Bitcoin blockchain and vice versa.
Bitcoin Cash offers a cheaper option for Bitcoin, with current value in digital currency trading, at a price of about $470 per piece.