Cryptocurrency Seeks to Replace Fiat and These 5 Altcoins Attempt to Lead the Way
These 5 Alt-coins are Looking to Replace Traditional Fiat Assets in the Coming Future
As things stand today, most of us still make use of fiat currencies to carry out our day to day financial operations. However, since the appearance of Bitcoin on the global economic stage in 2009, it has now become possible to make purchases using a form of money that does not require the involvement of any intermediaries such as banks, financial institutions etc. Not only that, BTC transactions are almost commission-free and can be completed within a matter of seconds— something that regular bank transfers cannot offer.
In this article, we will look at some of the top cryptocurrencies that are looking to replace traditional assets which we use to carry out our day-to-day business with. However, before we dive into the list, it should be noted that the altcoins presented here are based on four specific criteria such as their Stability, Scalability, Usability and Ease of Adoption.
Another thing to understand before we start is that there is no single cryptocurrency in the market today that meets all four of the aforementioned requirements. However, this list contains crypto-coins that more or less satisfy one or more of the characteristics which have been described above. Let us start:
Top 5 Fiat Replacing Altcoins
While not as famous as some of its peers, Gulden is a cryptocurrency that has been designed to allow for fast, hassle free payments between customers located across the globe.
The alt-asset was launched all the way back in early 2015 as a fork of the now famous Litecoin. To elaborate further on Gulden’s technical capabilities, owing to its use of a PoW² framework, the currency can process transactions 4 times faster than bitcoin.
Another core advantage of Gulden is its ease of use. For example, to procure this asset, all one needs to do is register with the official company website and obtain a digital wallet. The Gulden app which is available for both iOS and Android devices can be used as a payment portal— especially within the Netherlands where the company has an agreement with all IBAN compatible banking institutions.
One of the premier digital assets of the crypto world, Litecoin’s purpose from the very start has been to facilitate everyday transactions for people not looking to use Bitcoin or other resource intensive altcoins.
It is also worth noting that Litecoin is home to one of the safest blockchain networks in the crypto world, particularly because it shields itself using ASIC-equipment that is estimated to be worth more than $150 million.
Additionally, Litecoin is one of today’s most liquid assets and can be exchanged for fiat via a variety of different exchange platforms. Not only that, today LTC use is even being accepted by various credit card operators such as TenX.
Nano is another big-name cryptocurrency that was originally intended to provide customers with seamless P2P transactions with no transfer fees. However, what really sets Nano apart from the competition is its use of a unique block-based architecture wherein each profile has its own blockchain. As a result of this, the platform ensures superfast operations while providing customers with unlimited bandwidth.
Lastly, another core aspect of Nano is that it comes loaded with a fully functional ecosystem that boasts of a unique online, desktop wallet as well as a mobile application that can be used to store and send crypto to anyone around the world.
Even though IMMO has not even officially entered the global crypto fray, it is already being projected to be a game changer. According to certain sources associated with this project, IMMO is backed by one of the most powerful families in known human history— the Rothschilds.
Their apparent goal is to make IMMO into a ’world reserve cryptocurrency’, which will be able to compete with other already established fiat assets such as the US dollar. Not only that, the currency’s official documents show that IMMO will have ‘intrinsic value’, which basically means that it will be economically backed to a point wherein once the market demand is high enough, it will become an economic entity unto itself.
In recent months, IMMO has also reportedly garnered the attention of crypto experts such as Vitalik Buterin, Jimmy Song, Ryan Taylor— which is no small feat.