Everyone is talking about cryptocurrencies and the opportunities they offer. While some think they are simply a passingphase, othersbelieve they are the future of money. The real answer probably lies somewhere in the middle.
Regardless of what you believe, it looks like cryptocurrenciesarehere to stay. They have been on the rise over the last few years, and it doesn't look like their growth is slowing. If you’re considering buying your first cryptocurrencies or simply expanding your current investments then now may be a good time. A good place to start is the five major players.
Remember, this article isn’t offering professional investment advice. You should only purchase cryptocurrencies if you have the necessary funds. The volatility of cryptocurrencies makes their value hard to predict.
Bitcoin is the most well known and most traded cryptocurrency worldwide. Satoshi Nakamoto first introduced Bitcoins in 2009. Since then they have experienced exceptional growth.
Many counties have fully legalized the use of Bitcoins, including the US, Canada, the UK, Australia,and New Zealand. Many others allow their use with minor restrictions. In fact, there are now Bitcoin ATMs in many countries.
Litecoin was released in 2011 by Charles Lee. This cryptocurrency was inspired by Bitcoin and has very similar properties. It also has similar popularity. The main difference is that Litecoin is believed to operate around four times quicker than Bitcoin,resulting in faster transaction confirmation.
The Ethereum forecast is looking good in 2018. This cryptocurrency is relatively new, having been founded in 2015. However, its growth has been staggering. It is widely considered to have superior technology to Bitcoin and many other cryptocurrencies. Infact, many Fortune 500 companies are adopting its use.
Ripple is a cryptocurrency which was designed to help banks improve the way they send and receive money from other countries. Major banks around the globe have incorporatedRipple into their systems so itseems that there is a good chance that it will continue to grow fast.
Dash was formerly called Darkcoin and XCoin and is heavily based on Bitcoin technology. It was released in 2014 and has developed into one of the major cryptocurrencies in the world.
The main advantage of Dash is that its transactions are instantaneous while transactions with other cryptocurrencies can take up to a few minutes. This speed has caused the owners to charge a small fee for each transaction.
World economics are rapidly changing, and it doesn't look like things are going to let up soon. Cryptocurrency technology is allowing companies and individual to complete faster and more secure transactions globally.
If you plan to jump into the cryptocurrency world, then these main players are a good option. Remember to continue to do your research before you commit to anything. You should also be aware that many cryptocurrencies are highly volatile with their value constantly charging.
Most important of all, never invest funds that you can’t afford to lose.