Bitcoin is by far the most famous – and biggest – of the cryptocurrencies. But its use comes with a few downsides: it has been proven vulnerable to hacks and fraud, and has become the currency of choice for black-market transactions. Plus, its size, popularity and age all mean that mining new bitcoins is prohibitively expensive and time-consuming for all but the best-equipped.
Instead, however, there are a number of ‘altcoin’ currencies in existence. Here’s a small selection of alternatives to Bitcoin – each of which has its own advantages. All of them share Bitcoin’s fundamental strengths, however – minimal or zero transfer fees, and freedom from traditional banking restrictions.
Five alternatives to Bitcoin
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