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When Bitcoin first appeared on the web, many people didn't believe that it would be worth anything. Fast forward a couple of years later, and a single bitcoin can be worth as much as $1000 or more — all depending on how the market is feeling that day.
Nowadays, most of us are kicking ourselves for not investing in cryptocurrency a couple of years ago. However, there is a solution out there that you can choose to explore if you missed out on the Bitcoin train.
Others are just fed up with having to invest a lot of money in Bitcoin mining equipment, only to get a small amount of money back. According to investors and coin miners, the following Bitcoin alternatives for miners might actually give you more bang for your cyber buck...
Ethereum sounds like an amazing science fiction currency, but it's absolutely real. This cryptocurrency has become one of Bitcoin's biggest competitors and currently stands as the second most common cryptocurrency in the world.
There are two kinds of Ethereum coins out there: Classic and Foundation. Classic allows standard mining procedures, while Foundation is an automated form of transaction verification. Miners have said that Ethereum mining is currently more profitable than Bitcoin mining, which makes it a rather hot currency to try out right now.
Along with higher mining profitability margins, Ethereum Classic also has rebelled against Ethereum Foundation by sticking to the time-tested Proof-of-Work style of mining security rather than a Proof-of-Stake blockchain security protocol. Due to Classic's decision to keep the mining industry alive, it's one of the best Bitcoin alternatives for miners to try out.
At the time of this writing, Etherium Classic sells for around 17 dollars a pop. Not unaffordable, by any means of the word. If you want to avoid mining and just invest in the standard Ethereum currency, you can expect to buy a coin for $200.
Since Ethereum is so popular, Ethereum Classic is regularly cited as one of the best Bitcoin alternatives for miners' wallets.
Many Bitcoin alternatives seem to be geared more towards investors than anything else, but not Feathercoin. This opensourced cryptocurrency is basically a hacker's favorite plaything. Unlike Bitcoin, Feathercoin purchases can be processed by anyone with a regular computer.
Its NeoTarget base is what makes it secure, and allows it to offer many more features than a typical Bitcoin could. This is an awesome Bitcoin alternative to tinker with, too.
As of right now, there are Raspberry Pi setups that can process Feathercoins, t-shirt wallets for sale, as well as actual physical laser-etched coins featuring Feathercoin code in them. Needless to say, this is as close to legit science fiction gear as you'll probably come to in the world of cryptocurrency.
Though it may not be one of the best Bitcoin alternatives for miners in terms of payout, it's an awesome choice for people who love to tinker. At around 5 cents a pop at the time of this writing, Feathercoins are definitely a budget-friendly investment.
The reason that this Bitcoin alternative was created was because Bitcoin is flawed. Novacoin uses the base concepts of Bitcoin in its design but removes a number of the flaws the "standard coin" currently has. The result is a more secure, stable, and a dual script hashtag currency.
Since Novacoin has both Proof-of-Work and Proof-of-Stake requirements for every transaction, it's safe to say that it'll be a favorite among miners and investors alike in the near future.
Novacoin is a bargain, considering that each coin is around $6 a pop — at least right now, anyway. For people who want security, Novacoin is one of many decent Bitcoin alternatives for miners and investors.
Namecoin was one of the first branches off the original Bitcoin name, and still remains one of the most popular cryptocurrencies in the technosphere. This alt-coin is all about decentralization and anonymity, and that's why the entire site backing it discusses the importance of financial freedom.
Though it was first used to help implement a DNS that wasn't central to any particular place, Namecoin now is a Dark Web celeb in its own right... and is generally thought of as a decent investment.
At the time of this writing, Namecoin costs about $1.80 per coin. Namecoin is an excellent choice among Bitcoin alternatives for mining purposes, especially if you feel strongly about anonymity.
Dash is one of those Bitcoin alternatives that has become inextricably linked with the Dark Web and organized crime. The reason for that is because it is dedicated to complete and total anonymity, to the point that it's basically untraceable by any means.
That being said, it's also one of the most highly valued cryptocurrencies out there strictly because it's so well-built and so perfect for anonymity. Both miners and investors love this coin, which makes it a highly prized currency on the markets today.
Right now, Dash sells for around $200 per coin.
Steemit is an online social media platform that pays people in Steem Dollars cryptocurrency for posts with views. Among those who want to try mining but aren't very tech savvy, this Bitcoin alternative may be one of the finest options out there.
After all, everyone can post on social media, right?
That being said, you can earn Steem Dollars fairly easily — and you can also give them fairly easily as well. Every Steem Dollar is worth about a dollar. So, you really have no excuse to not give it a shot.
Steem Dollars are the easiest Bitcoin alternatives for mining beginners, so it's definitely a good intro coin to check out. It's a good Bitcoin alternative for miners who don't want to mine, though.
Dogecoins are a currency that were literally based off an internet meme — so to a point, they are the most internet-y cryptocurrency out there aside from Bitcoin itself. If you love memes, then you'll probably want to try to mine this altcoin.
However, this coin has had its fair share of issues in recent times. Though it's one of the older Bitcoin alternatives out there, it also happens to be one of the lowest value cryptocurrencies on the market.
Even so, we have to tip our hats off to Dogecoin for making a hardcore tribute to internet culture. Whether it's one of the better Bitcoin alternatives for miners looking to cash in remains debatable, but we really can't hate.