Investing in the cryptocurrency market space is complex especially for traditional investors. This is because investing in Cryptocurrency directly requires technology, the use of new tools, and the adoption of new concepts.
If you decide to dive into the world of CryptoCurrency, you need to have a clear picture of what to do and what to expect.
Be it Bitcoin, Litecoin, Ethereum or any of the 1300 tokens, buying and selling cryptocurrency requires you to choose an Exchange that deals with the products you want.
Being the most popular decentralized cryptocurrency, Bitcoin is so prevalent in the cryptocurrency space that the terms crypto and bitcoin are sometimes used interchangeably. However, the fact is that there are other cryptocurrencies for cryptocurrency investments as well.
Litecoin, also known as “silver Bitcoin gold,” is a decentralized open source payment network that operates without the involvement of intermediaries.
How does Litecoin change from Bitcoin? Well, the two are similar in many ways, however Litecoin’s blockchain creation is much faster than Bitcoin’s. This is opening up investors around the world to accept Litecoin.
Charlie Lee, a former Google engineer, created Litecoin in 2011. Although Litecoin does not have the anonymity technology of Bitcoin, recent reports have shown that Litecoin prefers bitcoin after its sustainability. Another factor that benefits Litecoin is Bitcoin SegWit technology, which means secure peer-to-peer currency trading with no exchange rate participation.
Launched in 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to operate without interference from third parties. Currency is like an accelerator within the ethereum platform. Ethereum’s major cryptocurrency sites. This is the second preferred option behind Bitcoin.
Zcash gained attention in the latter part of 2016 and focuses on solving the problem of anonymous transactions. To understand currency, let’s take “if bitcoin money is like HTTP, Zcash is HTTPS”.
Currency provides a secure transaction option to maintain transaction transparency, privacy, and security. This means that investors can transfer data as encrypted code.
Originally known as darkcoin, Dash is a more selective version of bitcoin. It was launched in January 2014 by Evan Duffield under the name Xcoin. It is also known simply as the Decentralized Autonomous Organization or DAO. The coin was intended to eliminate all the limitations that dominate Bitcoin. Today, Bitcoin has gained a prominent position in the cryptocurrency space.
An alternative to virtual currency that promises secure and anonymous transactions through a peer-to-peer network is cryptocurrency. The key to making a lot of money is to make the right investment at the right time. Compared to making money on a daily basis, the cryptocurrency model works without involving the middle man as a decentralized digital mechanism. In this distributed cryptocurrency mechanism, the ongoing activity is issued, managed, and supported by peer-to-peer community networks. Cryptocurrency is known for its fast transactions in any other way, such as digital wallets and other media.
In addition to what has been discussed above, there are other major cryptocurrencies Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).
Although Bitcoin is a trend setter and a race leader, other currencies have also taken a significant position and are growing in priority on a daily basis. Considering the trend, other cryptocurrencies will have a long way to go and soon Bitcoin will give it a real hard time maintaining its position.
If you’ve decided to make a speculative investment in this groundbreaking technology and want all the current and future recommendations, connect with “The Top Coins”.