Know about cryptocurrencies that have beaten Bitcoin giving more than 2000% return

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While Bitcoin remains one of the most popular and oldest cryptocurrencies in India, there are many altcoins that have given investors as high as 2000% return since the start of this calendar year. For example: Since Jan 2021 BitTorrent, Terra and Binance Coin have given an extraordinary return of 2544%, 2217% and 1353%, respectively. Against this Bitcoin, which works on peer-to-peer technology, is currently trading at Rs 45.88 lakh ($60874.37), generating a return of around 108%. It has a market cap of Rs $1140 billion with 18.68 million in supply out of a total supply of 21 million.

Riding on the popularity of Bitcoins many altcoins- a term used for digital currencies other than Bitcoin-have given good returns. Unlike Bitcoin which has no underlying projects most of the altcoins are defined by their underlying projects. Look at the table below to know about Altcoins that have beaten Bitcoin:

Ethereum, the second most popular currency in terms of market cap, has given a return of 108%. It functions as a token and can run any application in a decentralised ledger. NFT or Non-fungible tokens which are a buzzword these days are based on the Ethereum blockchain. The website of Ethereum says “Ethereum is a technology that’s home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It’s open to everyone, wherever you are in the world – all you need is the internet.”

Dogecoin is another currency that has become popular after Elon Musk tweeted about Dogecoin. It has given the YTD return of 1180%. Altcoin Dogecoin is a decentralised peer-to-peer digital currency that enables you to easily send money online. It is “the internet currency.” The Shiba Inu is a Japanese dog and represents Dogecoin. There are several ways of buying Dogecoin. You can buy them, trade for them, get tipped or mine them. Their website states: “You can get tipped Dogecoin by participating in our community. If that’s not your style, the easiest way to have your first Dogecoin is to get them from a faucet. A Faucet is a website that gives you a small amount of Dogecoin for free to introduce you to the currency! All you need is your Dogecoin address. Mining is intended for advanced users only, as it requires a lot of technical knowledge to do.”

With Altcoins giving higher return than Bitcoin be cautious before embarking on them as these are highly volatile with no regulator to govern them.