Bitcoin prices may have fallen drastically lately but, they still hover around $8,000, a price level which is far too high for most prospective investors. However, there are several cryptocurrencies which are still available for a literally throwaway price. And one can invest in them as long as you are willing to pay taxes on the long term gain, which the income tax department has been planning to impose for quite some time.
There are numerous cryptocurrencies which are still not as popular and can be bought for their affordability.
Following are some of the bitcoins' alternatives
Litecoin (LTC): The market capitalization of litecoin fell to $8 billion. What makes a litecoin appealing is that the price of a litecoin (at $145) is affordable for many investors, at least as of now. Another thing that distinguishes litecoin from a bitcoin is that the litcoin takes relatively less processing speed (2.5 minutes) unlike bitcoin that takes around 10 minutes for one block.
Bitcoin Cash: The bitcoin cash price fell 11% to $1,211. The market cap of bitcoin cash is $20 billion. The original bitcoin had a maximum limit of 1 MB of data per block or about 3 transactions per second. Although these limits could be raised technically, the bitcoin community never reached a consensus after years of debate. So, instead of raising the limits, the community decided to create another blockchain (which was later known as Bitcoin Cash) with the improved limits. The older bitcoins were taken to this new and improved blockchain that had a maximum limit of 8 MBs per block.
From the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block. The purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.
Ripple (XRP): Ripple, the third largest cryptocurrency by market capitalization, offers frictionless experience to its customers to send money globally using the power of blockchain. Financial institutions can process their customers' payments anywhere in the world instantly. The Ripple woos banks and payment providers to use the cryptocurrency for reducing costs. Ripple's price trades at $0.94 on Sunday.
Zcash (ZEC): While the bitcoin blockchain contains records of the participants in a transaction, as well as the amount involved, Zcash's blockchain shows only that a transaction took place, and not who was involved or what the amount was. Zcash is an open-source protocol because of which, the Zcash Company does not control it (including controlling the mining or distribution of it), not does it have any special access to private or shielded transactions. Just like anyone else, the Z cash Company only has the ability to see a private or shielded transaction if it is a party to that transaction or someone provides it with the correct view key. Zcash is valued at $424 after having fallen 14% on Sunday.