Bitcoin or Altcoin: Can One of Them Replace Fiat? | Investopedia

Can One of Them Replace Fiat? By Nathan Reiff July 9, — 2: And while some traditional financial institutions have warmed to the concept of blockchain technology or even to the idea of working alongside digital currencies in some formfew have made any suggestion that they will adopt cryptocurrencies wholesale at the expense of fiat money. While cryptocurrencies have yet to fully take over in the real world in a way that enthusiasts have predicted, there are nonetheless some signs that various currencies are making it in the traditional business space, even if only to a small extent.

Of course, if one or more digital currencies does end up “making it” in the real world in this way, it’s likely that investors in the cryptocurrency will see great rewards for their early adoption. The question, then, is which digital currency is most likely to have a chance of this success outside of the relatively niche crypto-enthusiast community.

Below, we’ll explore some of the possibilities. Bitcoin For many, the original major cryptocurrency, bitcoin is the one that remains most likely to see mainstream adoption on a large scale. These features make the coin very desirable and one of the top ten coins in the market.

Altcoins: The Penny Stocks of the 21st Century

Peercoin uses SHA algorithm and Proof-of-stake and Proof-of-work systems to make the network efficient and secure. New coins can be created through regular mining or minting process where people get rewards from the coins they hold. New faucets within few days! It was first released in Oct by a former Google employee Charles Lee.

It has been said that Litecoin is the first and only true alt coin ever built. Although there has been several successful coins made after Litecoin there are always special bond between Bitcoin and Litecoin as they are the biggest and most accepted coins and also technically nearly identical.

If you want to “play safe” then investing in Litecoin should be always your second best choice. Cryptocurrency markets are highly news driven. If you want to make money trading altcoins, therefore, you really need to make sure that you keep yourself up to date about the latest news and developments, both for the coins you are trading and for the industry as a whole.