In the midst of a huge Bitcoin surge, where the value of Bitcoin continues to increase, newbies to the cryptocurrency world might be wondering if there are any major virtual currencies that are more affordable to invest in, before it’s too late.
More people are starting to have an interest in virtual money, but for the average person, spending over $17,000 per Bitcoin is not a possibility. The good news is that there are a couple of other currencies, previously overlooked, that are also seeing a big increase in value this week.
Litecoin, still one of the top cryptocurrencies, has raised in value by over 25%, exceeding $200 per coin at midday. This gain is spurred by CBOE Global Markets, an exchange operator, that just began trading of Bitcoin futures contracts.
Litecoin uses a slightly different mining technique than Bitcoin. Over the past year, Litecoin has actually skyrocketed in value by 4,975%, yet it is only trading at $200 per coin, whereas Bitcoin is up by a mere 2,062% this year and is valued at over $17,000 per coin..
Another major cryptocurrency is Ethereum, with a current price of $518, an all-time high. CoinMarketCap and CryptoCompare, two major market data providers, show that the majority of trades this week were processed in the US cryptocurrency and Ethereum exchange markets.
From September to the end of November, Ethereum’s value was staying pretty steady, but this month, its value has begun to increase. This is in part due to the recent activities around the Ethereum blockchain network.
Dash cryptocurrency has also been doing really well, displaying impressive gains and tripling in value. Its current value as of today is showing $757.
There is also the option of taking a chance and investing in relatively brand new cryptocurrencies that seem to be faring rather well in their debut. One such currency is called Bitqy. This digital coin, originating out of Texas, was just recognized on Bitscreener, a screening tool for the entire digital currency market. It has also been noticed by CoinMarket Cap, ranking it among other major cryptocurrency contenders. As it continues to show gains and get more recognition, this digital coin might be a good investment at its currently tiny value of $0.013.
So, if Bitcoin has already skyrocketed way beyond your price range, have no fear. You might still have a chance to make it big in the world of virtual money, with several other promising cryptocurrency investment options that appear to be worth consideration.