Investing in the cryptocurrency market space is frequently complex especially for the traditional investors. This is because investing directly in Cryptocurrency requires the usage of new technologies, tools and adopting some new concepts.
If you decide to dip your toes in the CryptoCurrency world, you will have to have an obvious picture of what to do and what to expect.
Be it Bitcoin, Litecoin, Ethereum or any of the 1300 tokens, buying and selling cryptocurrencies need 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 that there are other cryptocurrencies as well that could be relied upon for making crypto-investments.
Litecoin
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, however the block generation of Litecoin is a lot faster than that of Bitcoin. Pro bono crypto recovery 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 doesn’t have the anonymity technology of Bitcoin, recent reports show that Litecoin is preferred after bitcoin due to the persistence. Another factor that favours Litecoin is the Bitcoin SegWit technology which means secure peer-to-peer trading of currencies without involving exchange participation.
Ethereum
Launched in the entire year 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to function without third party interference. The currency may be the ether that is like an accelerator within the ethereum platform. In the best cryptocurrencies space, Ethereum. is the second most preferred choice after Bitcoin.
Zcash
Zcash gained attention in the latter part of 2016 and focuses on solving the issue of anonymous transactions. To comprehend the currency, let’s take it as “if bitcoin is similar to HTTP for 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.
Dash
Originally referred to as darkcoin, Dash is a more selective version of bitcoin. It was launched in January 2014 by Evan Duffield with the name Xcoin. It is also known as the Decentralized Autonomous Organization or just DAO. The coin was meant to eradicate all of the prevailing limitations of Bitcoin. Currently, Bitcoin has earned a substantial position in the area 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 big money is to make the right investment at the right moment. In comparison 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. The cryptocurrency is well known because of its speedy transactions over any other mode such as digital wallets along with other mediums.
As well as the above discussed, other top cryptocurrencies include Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).
Although bitcoin may be the trend setter and is leading the race, other currencies have also made their significant position and are growing in preference each day. Considering the trend, the other cryptos will have quite a distance to stay and may soon give Bitcoin a genuine tough time to maintain steadily its position.