With more and more cryptocurrencies coming into existence, our options of cryptocurrency investments are also multiplying. Since each cryptocurrency has its specific distinctiveness, it’s hard to decide which one to invest in. Each can be applied in different areas to serve for different purposes. Obviously this can be a bit overwhelming and confusing for beginners, so we decided to highlight some of the most popular cryptocurrencies and their appealing peculiarities.
1. Bitcoin (BTC): Launched in 2009, Bitcoin is the father of all cryptocurrencies. As the most popular one on blockchain, it is a time tested, secure, and profitable crypto coin.
2. Ether (ETH): Ether is the native cryptocurrency of Ethereum, a platform which facilitates P2P contracts and applications. These P2P contracts are called smart contracts that have the ability to revolutionize how people and businesses interact.
3. Ripple (XRP): Released in 2012, its purpose wasn’t to compete with Bitcoin, but to complement it. Ripple was created for large financial institutions and quick transactions that include different currencies.
4. Bitcoin Cash (BCH): When blockchain and the Bitcoin cryptocurrency split into two as a result of a hard fork in 2017, Bitcoin generated a “spin-off” cryptocurrency which was named Bitcoin Cash. It has a larger block size which allows faster transaction times.
5. Litecoin (LTC): Launched in 2011, Litecoin is similar to Bitcoin in its technical aspect. Litecoin can produce up to 84 million coins, whereas Bitcoin’s maximum is 21 million. Transaction time is 2.5 minutes when using Litecoin, while Bitcoin’s is a little over 10 minutes.
6. Cardano (ADA): Released in 2017, Cardano’s distinctive feature lies in its transaction. This cryptocurrency allows you to add extra info and details to each transaction you make. Although it sounds similar to other cryptos, Cardano keeps the transaction and information in separate layers. You decide to fill the details whenever you find it necessary.
7. Neo (NEO): A decentralized, open-source cryptocurrency and blockchain platform launched in China in 2014. Neo focuses on smart economy and offers digital identity, smart contracts, DApps and GAS.
8. Dash (DASH). This cryptocurrency is also forked from the Bitcoin protocol. Created in 2014, Dash is a lot more decentralized than other coins and its privacy features are solid. Dash has a unified and detailed roadmap on exactly how to be able to offer cheap and instant transactions at a rate of 4,000 or more per second.
The best cryptocurrency for investments depends on what your needs are. Before taking any risky steps, you need to conduct thorough research on the available coins and see which one fits your requirements best. Some want to trade regularly and quickly, while others need more stability for long term investments. These are only 8 of the 1,658 cryptocurrencies out there, so manage your time effectively before managing your crypto-investments.
Remember that we are continuously adding cryptos to our exchange list so stay tuned to see which one of these (or any other coins) we might add next.
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