Everyone knows about the meteoric rise of Bitcoin over the past few years. It has not only doubled in price – it has risen over 60 times the price it was just a few years ago.
However, many cryptocurrency investors believe that Bitcoin has reached its maximum potential and that it will not double in price again.
We view that as a somewhat fair assessment, so we have compiled a list of 3 cryptocurrencies other than Bitcoin with the potential to double in value. In fact, the cryptocurrencies we have listed have more than just the potential to double in value.
All the cryptocurrencies we have listed could have a similar price as Bitcoin over the past few years.
Anyway, here are our top selections.
3 Cryptocurrencies With The Potential to Double in Value
The first cryptocurrency that we believe could double in value is Chainlink (LINK). For those that do not know, Chainlink is to decentralized finance (DeFi) what Ethereum (ETH) was to initial coin offering (ICO).
The main difference being that the DeFi bubble has not fully taken off, yet. We know this because the price of LINK is around $11.00 per coin.
What is Chainlink?
Basically, Chainlink is a network that provides data to smart contracts on the blockchain. This might not sound like a big deal, but there is not currently a good way to reliably transfer data to smart contracts on the blockchain.
Now, this is important because smart contracts are the foundation of DeFi. And DeFi is making leaps and bounds in cryptocurrency and offering itself up as a legitimate competitor to centralized finance.
With that in mind, LINK is in the perfect position to capitalize on the DeFi trend.
Is LINK a good investment?
Yes, LINK is a great investment. The price is currently around $11.00 per coin, which is still undervalued in our opinion.
It’s undeniable that there will be a DeFi boom at some point. And Chainlink is the network that powers DeFi.
With that in mind, LINK has the potential to drastically increase in price. It’s very possible that LINK could be the next Ethereum.
Litecoin is the faster, cheaper alternative to Bitcoin.
The difference is that Litecoin (LTC) is valued at $63 per coin while Bitcoin is valued at approximately $15,000 per coin.
We find that valuation very low for Litecoin (LTC). In our opinion, Litecoin has the potential to greatly increase in value. Especially because it has a maximum circulating supply of 84,000,000.
That is four times the maximum circulating supply of Bitcoin (BTC), so the price is still relatively low. However, the price should increase as more and more Litecoin (LTC) is lost or destroyed.
What is Litecoin?
As mentioned previously, Litecoin is the cheaper, faster alternative to Bitcoin. The transfer fees are much lower and the speed of transactions is faster.
In other words, it’s a lighter weight version of Bitcoin. It still has mining and operates on the Blockchain.
The one downside of Litecoin (LTC) is that it is marginally less secure than Bitcoin. But there have not been any security issues with Litecoin in its history.
The security issues are all hypothetical.
Is Litecoin a good investment?
Yes, it’s a great investment. It’s currently trading at about $63 per coin. The highest price of Litecoin was over $200 per coin back in February 2018.
That means Litecoin has the potential to quadruple in price during the next cryptocurrency bull market.
It’s certainly a coin that we recommend putting in your portfolio.
Ether (ETH) is another cryptocurrency that we believe has the potential to double in value.
Our reasoning is simple:
The maximum price of Ether (ETH) was about $1,400. It hit that price in January of 2018.
The current price of Ether (ETH) is about $459. That means Ether (ETH) could rise about 2.8x in price.
That seems feasible. Especially once you consider that Ethereum is the most popular network for building other apps on its blockchain. It also has the best smart contract compatibility at the moment.
Sure, there are other alternatives out there, but Ethereum is still the top choice in terms of popularity and name recognition.
With that in mind, all apps built on the Ethereum network must be invested in with Ether (ETH), which causes huge demand for the coin.
Note: Ether (ETH) is the name of the cryptocurrency and Ethereum is the name of the network. Ethereum is also used to refer to the cryptocurrency.
What is Ethereum?
As mentioned earlier, Ethereum is a blockchain network that allows users to build apps on top of the network. This makes it much more versatile than Bitcoin that serves mostly as a currency.
The big difference is that Ethereum has smart contract compatibility, which allows users to build a contract that automatically fulfills when certain “real-life” criteria are met.
These smart contracts are very useful for decentralized finance activities such as loans, gambling, and property sales.
Is Ether (ETH) a good investment?
Yes, Ether (ETH) is a good investment. The Ethereum network does have some emerging competition from other cryptocurrencies, but none of them appear on track to cause disruption to Ethereum in the short to medium term future.
Bonus Cryptocurrency: XRP (XRP)
None of those cryptocurrencies did it for you?
Here’s a bonus cryptocurrency that we believe can easily double in price – Ripple (XRP).
Ripple (XRP) is, in our opinion, a much better solution to the problem that Bitcoin and Litecoin are trying to solve:
Global money transfers cost too much money and take too long.
Bitcoin and Litecoin both do a great job at ensuring quick transactions at an affordable price compared to traditional finance. However, both cryptocurrencies are not nearly as fast as many cryptocurrency enthusiasts would like.
The fees, especially on Bitcoin, can be expensive depending on the mining fees at the time.
Ripple solved that problem with XRP (the name of the coin). Transfers take a few seconds and can be done for a fraction of the price of Bitcoin and Litecoin.
What is the best part about XRP?
The current cost is only $0.23 per coin, which is extremely undervalued for such a powerful cryptocurrency.
Is XRP a good investment?
Yes and no. The reason XRP is listed as a bonus cryptocurrency rather than a main cryptocurrency is that 6 wallets control over 50% of the supply of XRP.
We do not like that much centralization of a cryptocurrency. But other than that, we do view it as a good investment with the potential to increase in value to about $1 per coin.
That’s a potential 500% increase.