Investing in the cryptocurrency market is often difficult, especially for traditional investors. This is due to the use of new technologies, tools and some new concepts for direct investment in cryptocurrency.
If you decide to dip your toes in the world of CryptoCurrency, you need to have a clear idea of what to do and what to expect.
Whether it’s Bitcoin, Litecoin, Ethereum, or one of the 1,300 tokens, buying and selling cryptocurrencies requires you to choose an exchange that deals with the products you want.
Bitcoin, the most popular decentralized cryptocurrency, dominates the crypto space to such an extent that sometimes the terms crypto and bitcoin are used interchangeably. However, the reality is that there are other cryptocurrencies that can be trusted for crypto investments.
Litecoin, also known as ‘Bitcoin’s silver for gold’, is an open source centralized payment network that operates without intermediaries.
How is Litecoin different from Bitcoin? Both are similar in many ways, but Litecoin blockchain production is faster than Bitcoin. This makes investors around the world open to accepting Litecoin.
Former Google engineer Charlie Lee founded Litecoin in 2011. Although Litecoin does not have the anonymity technology of Bitcoin, recent data has shown that Litecoin is preferred after bitcoin due to its durability. Another factor that favors Litecoin is Bitcoin SegWit technology, which means secure peer-to-peer trading without the involvement of currency exchanges.
Launched in 2015, Ethereum is a decentralized application platform that allows distributed applications and smart contracts to operate without third party intervention. Currency is like an accelerator on the ethereum platform. Ethereum in the space of leading cryptocurrencies. It is the second most popular option after Bitcoin.
Zcash drew attention in the second half of 2016 and focused on solving the problem of anonymous transactions. To understand the currency, let’s assume that “if bitcoin is like HTTP for money, Zcash is HTTPS.”
Currency offers a screen transaction option to protect the transparency, confidentiality and security of transactions. This means that investors can transfer information in the form of encrypted code.
Dash, originally known as darkcoin, is a more selective version of bitcoin. It was launched in January 2014 by Evan Duffield under the name Hwan. Also known as a decentralized Autonomous Organization or simply DAO. The coin was intended to remove all existing restrictions on Bitcoin. Currently, Bitcoin has gained an important position in the space of cryptocurrencies.
It is an alternative cryptocurrency to virtual currency that promises secure and anonymous transactions through a peer-to-peer network. The key to making a lot of money is to make the right investment at the right time. Compared to day-to-day earnings, cryptocurrency models operate as a decentralized digital mechanism without involving any average person. Continuous operation in this distributed cryptocurrency mechanism is provided, managed and approved by the community peer network. Cryptocurrency is known for its fast transactions over any other mode such as digital wallets and other environments.
In addition to the above, other best cryptocurrencies include Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).
While Bitcoin has set the trend and led the race, other currencies have also shown significant positions and are gaining ground every day. Given the trend, other cryptocurrencies will remain for a long time and may soon give Bitcoin a really hard time to maintain its position.
If you decide to make a speculative investment in this disruptive technology, and you want to have all the current and future recommendations, contact Top Coins.