With Bitcoin being the talk of the town, virtual currencies certainly have everybody’s attention. Through all the pitfalls, regulations and debates, the fact remains that Bitcoin has had an 80 fold increase in the year 2013 and was valued at an astounding $1,124 per BTC only last week. Nevertheless, fluctuations also remain a constant issue for the currency which dropped to as low as $760 yesterday, and rose again to $902 on 9th December 2013.
This development has given rise to a slew of alternate virtual currencies (more than 140) similar to Bitcoin and a lot of techies, gamers, punters, hedge pundits and professionals are looking at other options as a more viable investment.
Here are 7 other Virtual currencies for you to choose from: (Value as of December 9th 2013):
LiteCoin (Code: LTC)
If Bitcoin is a form of modern Gold then Litecoin is a form of modern Silver. As algorithmic currencies grow because of the
attention to Bitcoin, Litecoin is the most viable route. Charles Lee, launched it in early 2011. Charles addressed a number of issues that could make Litecoin just as valuable as Bitcoin and perhaps a more useful retail currency. He has been around a while and has also launched other currencies: his first, Fairbrix, was a clone of Tenebrix. Litecoin is based on algorithmic system that is similar to Bitcoin but different enough to offer some of the same benefits but with more attributes.
Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space. Twitter:@chiraagpatel21