Virtual currencies have immensely caught the imagination of investors across the globe in the previous few months, especially with the rise of Bitcoin, with more a 1000% return in the last year. While Bitcoin is taking the limelight in the cryptocurrency world, there are at least five other cryptocurrencies that performed far better than former in the year 2017. According to CoinMarketcap data, lesser-known cryptocurrencies like Ripple and NEM have given returns upto 36,000% and 29,000% respectively.
Here are 5 cryptocurrencies that played better than Bitcoin in terms of returns:
Ripple: Ripple is both cryptocurrency and payment network. With over 36,000% returns in the year 2017, it is ruling the cryptocurrency world.
NEM: NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. It stood second with a return of 29,000% in 2017.
Dash: Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency. Contrasting to Bitcoin’s one-tier arrangement, where all trades on the network are performed by miners, Dash utilizes a two-tier network. Dash grew over 9,000% in 2017.
Ethereum: Ether (ethereum currency) was launched in the year 2015 and it has gained more than 9,000% since 2017 beginning. After bitcoin, ether flows on the ethereum blockchain technique which was first described by the then 19-year-old bitcoin programmer Vitalik Buterin in 2013.
Litecoin: Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transmission of coins are grounded on an open source cryptographic protocol and is not managed by any central authority. Litecoin grew by more than 5,000% in 2017.
Although, since Bitcoin has gained extraordinary popularity, it is also facing the wrath of some of the governments around the world. Recently, South Korea’s Ministry of Justice indicated that the country is considering shutting down all local cryptocurrency exchanges. China, Russia, Vietnam, Bangladesh are other countries that have blocked Bitcoin. In fact, India has issued several warnings for Bitcoin trading, likening it to Ponzi schemes.