It is true that the current leader of the pack has many problems which coins that have followed are attempting to rectify.
This puts Bitcoin in a precarious position in many people’s eyes. They even go as far as touting Ripple to replace BTC at the top of the leaderboard.
Even if it was leapfrogged. This doesn’t mean that BTC is any less of an investment opportunity, and it could to a certain degree make it a better one.
What Else is there Apart from Bitcoin?
BTC is a first generation cryptocurrency, so it was bound to have teething problems. Some of this has been resolved, although there are still limits to what it can go.
There are over 1,000 altcoins in existence. However, there is a high number of those who are only in it to make a quick buck if they are lucky. Others don’t offer anything new apart from a gimmicky solution and will quickly vanish.
Two highly rated cryptocurrencies are gaining more recognition. Both offer payment and remittance services albeit with slightly varying outcomes.
OmiseGo aims to provide banking services for individuals who are unable to get a more conventional bank account. This can help a great deal although it might be a little too specific to gain worldwide appeal for everyday use.
A second coin is Dash which operates using a 2-tier framework. If this works as it should BTC is unable to offer the same service as it is built on 1-tier. It also provides much faster transfer times for payments, and it is actually 4 times faster than BTC.
Even if both of these coins are enough to become market leaders and worthy investments, there is one weapon that BTC has in is an armory.
Cryptocurrency exchanges like Coinbase only will have you purchasing BTC first before you are allowed to buy these or any other cryptocurrencies.
Bitcoin is it still needed?
It is true, and even if BTC falls from popularity, at present, it is the only way you can purchase many cryptocurrencies for investment.
While it is doing this, it is still in favor and one of the main reasons why it is still one of the best cryptocurrencies to have in your investment portfolio.
What can Replace Bitcoin?
There are not many cryptocurrencies which are in such a strong position which can challenge BTC for the number one spot.
For any to do this the cryptocurrency that has any chance has to offer something substantial compared to only being a remittance service. The world has plenty of these, so the need is not of that greater importance.
Anyone who is new to cryptocurrency might have read a beginners guide to investing. However, it might not have explained any cryptocurrency that is yet to make an appearance.