Bitcoin is the first successful cryptocurrency It is the most famous one. All others cryptocurrencies try to replicate its success. However, they are often controlled by a person or company. This makes them much less secure, because people and companies often get corrupted.
Here are several reasons how Bitcoin is better than other cryptocurrencies:
- Bitcoin has the biggest network of users
This means it has the best security. The more users a cryptocurrency has, the harder it is to be brought down. Other cryptocurrencies are backed by fewer users and that makes them easier to be hacked. Basically, alternative cryptocurrencies have a higher risk to be hacked or manipulated.
- Bitcoin is truly decentralized
Bitcoin doesn’t need human assistance to run. No one can control it. Even Satoshi Nakamoto, the creator of Bitcoin, cannot control it. In fact, he disappeared in 2010. Other cryptocurrencies have founders, CEOs, and other central points of control. For example, XRP Ripple’s leadership or Ethereum’s Vitalik Buterin. This is a risk, as people with power tend to get corrupted.
- Bitcoin is the most technologically advanced cryptocurrency
Bitcoin is the first cryptocurrency project. It has the highest number of active developers (681). They make sure the programming code is optimized to perfection and uses the latest technological advancements. Furthermore, the development of Bitcoin is open to everyone and follows the highest standards of programming.
Why Bitcoin has a much higher price compared to other cryptocurrencies?
To sum up, Bitcoin is much more secure and safe to use than the rest of cryptocurrencies.