The market has not been kind to investors in recent weeks. Bearish conditions have set in and have unfortunately spread to most corners of the market. Of course, as crypto’s number one token Bitcoin (BTC) tends to act as a lightning rod for all conditions so it too is struggling.
At the time of writing, Bitcoin’s price has taken another slump, and now looks like it could be heading below the $25k mark or even worse. That means we need to start looking for alternative investing options. There are a lot of savvy investors turning to Bitcoin-inspired projects that take some aspects of the original and put their own twist on it.
The one that stands out from the crowd at the moment is Bitcoin BSC (BTCBSC) . Its presale has just begun but there are clear signs this could be the best alternative to Bitcoin at the moment. Below we will discuss this project and six others too so let’s get into it.
Bitcoin BSC- This spin-off coin wants to improve on the original Bitcoin
Inspired by Bitcoin in 2011 when so few of us even knew what crypto was, the price of BTCBSC is only $0.99 making it a much better alternative in the current climate to Bitcoin. While Bitcoin will always be a great investment opportunity in a bearish market it is always nicer to rely on projects where your wallet doesn’t come under stress.
Bitcoin has suffered some bad press for its negative effects on the environment. Due to its system, Bitcoin must be mined which uses a lot of energy. As Bitcoin BSC is a proof-of-stake coin no mining is necessary and therefore it is the greener choice.
Bitcoin BSC is built on the Binance Smart Chain which uses the same code as Ethereum. When compared to other Bitcoin-inspired coins however the BSC chain helps it stand out from the crowd. Not only does it have the fastest transaction speeds but its gas fees are also the cheapest. This really makes Bitcoin BSC stand out from the crowd of other ‘inspiration coins’
BTC20- The success story of Bitcoin-inspired coins
While Bitcoin BSC is obviously based on the original Bitcoin the idea for the project may never have come to fruition if it wasn’t for the success of BTC20 (BTC20) which has been a trailblazer in its section of the crypto market.
The ‘20’ trend was kicked off by BTC20 which like above took a successful coin, extracted what worked best, but also added its own flare. BTC20 also wanted to go back to 2011 to when Bitcoin was just priced at $1 but now due to its success that price is long gone.
A big part of the BTC20 project was adding passive income for its investors. They made a proof-of-stake system that encourages investors to stake coins even during presale. This method turned out to be a success as over ⅔ of holders signed up and the price immediately pumped once listings began. It definitely comes in second on our list of Bitcoin-inspired alternatives.
Bitcoin Cash- Could be a good buy low spot for this alternative
Bitcoin Cash (BCH) is actually the original alternative to Bitcoin. The reason for this is that it has some of the same creators that were involved with Bitcoin. BCH came about when there was a dispute over what direction the project wanted to go in regards to being a payment method.
The ones that care more about its payment method status are involved with Bitcoin Cash and this makes it a great alternative. There are many moves coming with regulation in the future but there is a big chance Bitcoin Cash will be accepted as a more mainstream payment method soon. BCH’s bad run over the last few weeks would be a thing of the past if that was the case making it a good buy-low option.
Bitcoin Gold- Bitcoin but it’s for the people
Bitcoin Gold (BTG) is a perfect alternative to Bitcoin for anyone that loves the decentralized nature of the market. As the market has expanded in recent years and regulations are creeping in, the market has had to adapt. Bitcoin Gold believes the problem with this is that too many big investors can monopolize mining Bitcoin.
Bitcoin Gold uses GPUs instead of specialty ASICs which means the decentralized nature is restored and huge big companies can’t monopolize the market place. This could be a slow burner but with times changing we expect Bitcoin Gold to be grow in popularity as time passes
BSC Farm- One of the only Bitcoin projects with positive growth lately
Generally when the market is bearish it can be difficult to find any positives with any projects associated with Bitcoin. This is simply because of how big the original is. BSC Farm (BSC) is one of the only Bitcoin-inspired tokens that is seeing positive growth over the last week. The project is relatively unknown but perhaps this could be a dark horse in the future.
Conclusion
We think we should mention just to finish that we are not suggesting that all these projects are better versions of Bitcoin. Crypto’s number one token has been at the top for this long for a reason. A good portfolio is a diverse portfolio however so some of these projects can be great alternatives. Bitcoin BSC is the pick of the bunch and we think it will be the ideal addition to any investor’s wallet.
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