Investing in the cryptocurrency market space is often complex especially for the original investors. This is because investing directly in Cryptocurrency requires the usage of new technologies, tools and adopting some new concepts.
If you opt to dip your toes in the CryptoCurrency world, you will have to have an obvious picture of how to proceed and what to expect.
Be it Bitcoin, Litecoin, Ethereum or the 1300 tokens, investing cryptocurrencies require you to choose an Exchange that deals in the products you want.
Being the most famous decentralized cryptocurrency, Bitcoin leads the crypto space so dominantly that the terms crypto and bitcoin are sometimes used interchangeably. However, the problem of fact is there are other cryptocurrencies as well which can be relied upon to make crypto-investments.
Litecoin, generally known as ‘silver to Bitcoin’s gold’ is an open-source decentralized payment network that functions without involving an intermediary.
How does Litecoin change from Bitcoin? Well, both are similar in many ways, nevertheless the block generation of Litecoin is a lot faster than that of Bitcoin. That is making the investors all over the world open to accept Litecoin.
Charlie Lee, a former engineer at Google founded Litecoin in 2011. Though Litecoin does not have the anonymity technology of Bitcoin, recent reports show that Litecoin is preferred after bitcoin because of its persistence. Another factor that favours Litecoin is the Bitcoin SegWit technology that means secure peer-to-peer trading of currencies without involving exchange participation.
Launched in the entire year 2015, Ethereum is really a decentralized software platform that enables distributed applications and smart contracts to operate without alternative party interference. The currency is the ether that is as an accelerator within the ethereum platform. In the best cryptocurrencies space, Ethereum. is the second most preferred choice after Bitcoin.
Zcash gained attention in the latter part of 2016 and targets solving the problem of anonymous transactions. To comprehend the currency, let’s go on it as “if bitcoin is like HTTP for the money, Zcash is HTTPS”.
The currency offers the selection of the shielded transaction to keep the transparency, privacy and security of transactions. This implies the investors can transfer data in the form of encrypted code.
Originally referred to as darkcoin, Dash is really a more selective version of bitcoin. It was launched in January 2014 by Evan Duffield with the name Xcoin. Additionally it is referred to as the Decentralized Autonomous Organization or simply DAO. The coin was designed to eradicate all the prevailing limitations of Bitcoin. Currently, Bitcoin has earned a substantial position in the space of cryptocurrencies.
The alternative to virtual currency that promises secured and anonymous transactions through peer-to-peer networking is cryptocurrency. The main element to making lots of money is to make the proper investment at the right moment. Compared to making the everyday money, cryptocurrency models function without involving any middle man as a decentralized digital mechanism. In this distributed cryptocurrency mechanism, the continuous activity is issued, managed and endorsed by the community peer network. Tipping Token is well known for its speedy transactions over any other mode such as digital wallets and other mediums.
In addition to the above discussed, other top cryptocurrencies include Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).
Although bitcoin is the trend setter and is leading the race, other currencies also have made their significant position and so are growing in preference every day. Considering the trend, the other cryptos will have a long way to stay and might soon give Bitcoin a genuine tough time to maintain steadily its position.