The Most Common Cryptocurrencies – A Quick Guide
If your intention is to venture the cryptocurrency investment market then, undoubtedly, it is one of the best intentions of your life, as the world is more moving towards the cryptocurrencies. Not only that, even the idea is easily achievable even for the beginners with the concept of trading robots that make the investment procedure a completely uncomplicated one! So, given the benefit, you can any day commence your cryptocurrency investment journey with these popular cryptocurrencies as your reliable investment choices.
- Bitcoin–The pioneer cryptocurrency, which is basically a peer-to-peer payment system. Despite the fact that it was introduced in 2010, it is still going strong with an unshakeable market cap value! Given the favorable prediction of the experts, it seems the Bitcoin is one of your best bets in this 2018!
- Ethereum – Not just a cryptocurrency or a mere payment system but a versatile technology that allows the developers to build distributed apps that can satisfy several significant purposes relevant to their businesses. For example, the smart contract feature facilitates the concept of automated contract system that is free of any and every discrepancy.
- Bitcoin Cash – The scaling of the Bitcoin network involved various views and suggestions and, one such view with some major supporters opted for the hard work of the Bitcoin network in the idea of scaling Bitcoin to more users that led to the birth of the Bitcoin Cash (BCH) in 2017! Now, this newer cryptocurrency has an 8MB block size that could accommodate around two million transactions per day, impressively! Although it is a relatively newer cryptocurrency in the market, it has a huge popularity, for which its market cap value that falls under the top 5 position is the best example!
- Ripple – Like the Bitcoin, both, the payment system and the digital currency of the system are known as ‘Ripple’, which was mainly designed to offer an instantaneous payment solution for larger financial institutions like the banks. Also, here the Ripple digital currency is owned by the respective parent company, the Ripple, (formerly known as the Ripple Labs) and therefore, there is no concept of the mining like in the Bitcoin network. This also proves that the Blockchain of the Ripple network is different from the Blockchain of the Bitcoin network!
- Litecoin – The main intention of creating this cryptocurrency, according to its founder is, for it to act as the ‘digital silver’ compared to the Bitcoin’s ‘digital gold’ and therefore, its ways are more or less same as that of the Bitcoins, except for the fact that the Litecoin is 4 times faster than the Bitcoins!