🚀 Comparison of cryptocurrency platforms in 2025

Cryptocurrencies, also referred to as “crypto assets,” are digital assets secured by encrypted computer protocols and recorded on decentralised ledgers known as blockchains. A cryptocurrency’s value is determined by supply and demand, which in turn often depends on the potential use cases of the asset. The first cryptocurrency, Bitcoin, appeared in late 2008, paving the way for the creation of many others.

Acquiring Bitcoin and other cryptocurrencies has become straightforward thanks to the multitude of online exchanges available. Binance, Coinbase, eToro, Bitstamp, etc. are among the major centralised exchanges that allow you to easily buy and trade a wide range of cryptocurrencies.

In the UK, cryptocurrency transactions are generally covered by HM Revenue & Customs (HMRC) guidance. Gains on crypto assets will often be subject to capital gains tax (CGT) if you are disposing of cryptocurrency (for instance, selling or exchanging it) and realise a profit. If trading is deemed to be on a more professional scale, income tax rules may apply. It is essential to keep records of all your transactions and seek advice where needed to ensure compliance with HMRC regulations.

It’s difficult to state with certainty which are the best alternatives to Bitcoin, as the crypto ecosystem evolves rapidly with regular emergence of new cryptocurrencies. However, notable contenders include Ethereum, Solana, Ripple, Cardano, Avalanche, and Chainlink, each of which is gaining momentum for various reasons.

Here is a brief overview of some major alternative cryptocurrencies:

•  Ethereum: Founded by Vitalik Buterin in 2015, Ethereum is not only a decentralised network but also a platform for decentralised applications. Built on the Ethereum blockchain, it enables the creation of new programs (Smart Contracts) and unique digital assets (NFTs). The ETH token has experienced significant growth and is a mainstay of many crypto portfolios.
•  Litecoin: Created by Charlie Lee in late 2011, Litecoin is based on the Bitcoin protocol. It stands out for offering faster transactions and lower fees than Bitcoin. It remains one of the most popular cryptocurrencies.
•  Ripple: The Ripple protocol and its XRP token were launched in 2012 to facilitate global payments and exchanges between fiat currencies and cryptocurrencies. Fast and low-cost, the Ripple protocol supports large transaction volumes and aims to be adopted by banks and payment networks as a settlement infrastructure technology.
•  Solana: Introduced in 2020, Solana highlights its ability to process secure, high-volume, and fast transactions, as well as the scalability of its platform for decentralised application development. Its community is growing rapidly.

Investing in cryptocurrencies is not without risk. Beyond scams where unsuspecting investors have lost everything to fraudulent projects (“fake” cryptocurrencies like Centra Coin), numerous exchanges have also fallen victim to hacks. It is therefore vital to be particularly careful in selecting both your cryptocurrency and your exchange platform, as well as securing your wallet. Additionally, crypto markets can be extremely volatile and susceptible to price manipulation by large holders (often called “whales”). As common sense dictates, crypto is still in an experimental phase, and you should only invest what you can afford to lose.

Mining refers to the process of verifying, validating, and creating transaction blocks on a blockchain, allowing miners to earn cryptocurrency in return for their computational power and energy consumption.

This process involves solving cryptographic puzzles using computing power (hashrate) provided by specific hardware. Miners help secure the network by contributing this computing power. The hardware used varies depending on the blockchain and algorithms (Bitcoin uses SHA-256). The most common mining equipment includes CPUs, GPUs (graphics cards) (likely the best option to start with), and ASICs (application-specific integrated circuits). Note that this hardware can be noisy, produce heat, and consume considerable energy.

Mining profitability primarily depends on electricity costs and hardware performance. While you could once mine cryptocurrencies with a standard computer and a compatible program, mining on personal computers has become more challenging due to the computational power required. Solo mining is typically less profitable these days, which is why mining pools exist, pooling resources from multiple miners for more efficient, profitable mining.

Apart from trading, cryptocurrencies have real-world uses, with many more possibilities in development. Bitcoin, for example, was designed to be a decentralised peer-to-peer payment system, independent of central authorities (banks) for fund transfers. With cryptocurrencies, users regain full control over their money and how they use it. Payments and money transfers become simpler and do not require a trusted third party. You can send £1,000 to anyone, virtually instantly, anywhere in the world. In contrast, bank transfers can take days.

Cryptocurrencies also serve as a store of value, unlike fiat currencies that can be “inflationary” and diminish in value over time. Lending and borrowing can also be managed digitally thanks to these borderless currencies. The tokenisation of real-world assets is an additional opportunity made possible by the rise of cryptocurrencies. Real estate, artwork, and commodities can be tokenised on the blockchain, making them more liquid and tradeable more quickly and transparently. NFTs, which are unique digital assets, could revolutionise the gaming industry. Finally, innovation is ongoing and is likely to reveal numerous other interesting practical applications in future.

The ever-evolving world of cryptocurrency requires choosing the right broker to ensure both security and efficiency for your transactions. The best brokers provide not only a stable and user-friendly platform but also access to a wide range of crypto assets, competitive fees, and quality customer support. Below is our list of reliable brokers, selected for their performance and security.

Here are the crypto brokers recommended by our site: