Types of cryptocurrencies you need to know about
Cryptocurrencies are digital currencies that are a source of digital exchange of currencies. Cryptocurrencies are backed up by the process of cryptography that makes them extremely safe for transacting. There are various types of cryptocurrencies universally. Some of them are more popular than others. Here’s a list of the types of cryptocurrencies you need to know about.
The reason why bitcoin has become more popular than any other Cryptocurrency is that it is the first ever Cryptocurrency. It was introduced by Satoshi Nakamoto in 2009. A single bitcoin would cost hundreds of thousands. This is why you can buy bitcoins in parts, and not just as a whole. The growth witnessed in the case of bitcoin is about 750%, which has taken investors aback. Despite its rocketing price, bitcoin is still investor’s favorite Cryptocurrency out of all. Because of the high prices of bitcoin, it is estimated that the hike in the cost of this digital currency will only go up.
Ethehreum comes second in the list of most popular cryptocurrencies. Pretty much like bitcoin, ethereum uses the blockchain technology, which makes it secure. However, one factor makes ethereum really different from other digital currencies. The fact that a decentralized software platform helps it run without any frauds and cons is what makes it free from the control of any third party. Ethereum gets its name from ether- a digital currency that fuels ethereum. You can get the ethereum forecast from converters and invest in it. Ethereum forecast will help you know the real-time value of ethereum.
Ripple is a very different Cryptocurrency as compared to the other cryptocurrencies. Ripple is not the kind of digital currency that is aimed at individual investors. It is for banks, digital asset exchanges, and payment providers. Ripple is also different because it does not exactly have its own intrinsic value. It rather is something that protects RippleNet from encountering any spams.
Litecoin is the digital currency that is popularly known as the silver to bitcoin’s gold. There was a point in time in the past when bitcoin becomes too hard to mine. That paved the path for the making of the litecoin price. Again, litecoin utilizes the decentralized network for payment. This takes away the need for a high-quality processing unit that is usually required for mining digital currency. Since it is an alternative to bitcoin, it shares similarities with bitcoin.
Dash is seen to be more of a secretive version of bitcoin since it makes use of decentralized masterwork code. It was launched in 2014 by an independent organization that is self-funded. The reason why this Cryptocurrency has become so popular ever since it was launched is for its different and improved features. Some of its improved features are instant transactions, decentralized governance, and privacy in the history and balance. All of these features definitely make it worth investing in and give it a significant place in the list of top digital currencies.
Zcash is another such digital currency that is popular. It was launched in the year of 2016, the youngest of all the cryptocurrencies that have been mentioned. And since it was launched in the time when technology had made progress, it is seen to be faster and more secure than the other cryptocurrencies. The founder of the Zcash claims that if you compare bitcoin to HTTP, you can rightly compare Zcash to https. Zcash is witnessing great popularity as people are gradually coming to know of it.
These are the most popular digital currencies of all. These are known to be the most secure cryptocurrencies which you can invest in without having a doubt about safety.