Digital Currency or well known as Cryptocurrency is a money breakthrough invented on Internet. Cryptocurrency is a money system that’s not bound by nationalities or geography. It allows you to store money and pay anything without necessarily going through any financial institution. Cryptocurrency is created through mining process that involves the computer power to generate any coins. However, you’re allowed to purchase cryptocurrency from any cryptocurrency wallet or brokers. Today, there are thousands of cryptocurrency available around the world.
Cryptocurrency has a fluctuating price just like other assets or investment. Any cryptocurrency will only be valuable as there are a high amount of users. That’s why cryptocurrency, even though considered as a profitable financial phenomenon, it’s also very risky and volatile as an investment. That’s why, you should check these top 10 cryptocurrencies, before deciding to invest one.
Satoshi Nakamoto has created Bitcoin, the first cryptocurrency ever that started all of the digital currency phenomena. It’s released in 2009 and the most valuable cryptocurrency so far with the biggest market for around US$ 10 billion. Bitcoin scopes all the understanding of cryptocurrencies. Other cryptocurrencies are considered as the alternative to Bitcoin, you’ll know soon about the term “altcoins”, the alternative coins. Bitcoin is the easiest cryptocurrency to get and accepted for most payment. Bitcoin is indeed the most suggested cryptocurrency.
Ethereum has their own cryptocurrency called ether. It was created by Vitalik Buterin and launched in 2015. Ethereum itself is a decentralized platform that can perform peer-to-peer “smart contracts” that allows people the users to enact and code contract without involving any third party such as cancellation, refund, setting a quota, and so forth. Ethereum has been split into Ethereum and Ethereum Classic in 2016. Ether has occupied the second largest cryptocurrency markets for about US$ 1 billion, the best alternative to Bitcoin.
The former Google employee, Charles Lee, released the Litecoin in 2011, and again, as the alternative to Bitcoin. It posses the same concept with the Bitcoin that can mined and used as currency to transact any goods or services that accept it. That’s why it’s the best alternative to Litecoin based on the similarity of usages. Litecoin has reached its highest peak of the market at US$1.2 billion in 2013, when the Bitcoin is fell down. But today, Litecoin only occupies market for only US$ 180 million.
Monero is well known to have an advanced security, privacy, and traceability that are more advanced compared to the Bitcoin. Monero is a cryptocurrency that utilizes the ring signature technology to enhance the privacy of its users. It has market share for about US$ 130 million If you have a high concern about privacy, then you should consider purchasing your Monero as it’s a privacy-centric cryptocurrency.
Ripple is the name of real-time gross settlement system that was released in 2012. Ripple is also a currency exchange and remittance network that is operated real-time. Ripple has the cryptocurrency called ripples. The system has been integrated into certain banks and financial institution and networks. Ripple occupies the market of cryptocurrency of US$243 million. If you don’t have a problem with privacy and require a practical solution, you should consider Ripple.
Dogecoin has occupied the market for about US$ 25 million even though it was originally released as a “joke currency. Billy Markus, a programmer, introduced the Dogecoin cryptocurrency as the manifested of Doge memes character back in 2013. The Dogecoin is now usually used to pay the users in forums. The Dogecoin is also effectively used to donate any fundraising. Even though it’s not recommended for any payments, investing Dogecoin is suitable your surfing and social activities.
Dash was formerly Darkcoin and rebranded. Digital Cash or Dash is cryptocurrency that possesses high concern on speed and privacy that share the market for about the US$ 77 million. Dash provides users a strong privacy through anonymization technology. Dash also performs high speed of transaction that ease users to transact anything. The new development, it develops Dash evolution that is more user-friendly so you can transact Dash to purchase any goods and services.
Secure Access for Everyone(SAFE) network released the cryptocurrency called Safe Coin or MaidSafeCoin. SAFE is actually a security-centric data platform. You can generate MaidSafeCoin by exchanging your computer’s available space. MaidsafeCoin has now occupied the market for about US$ 39 million. It provides you a high level of security through decentralized apps that securely store the data through the SAFE network so you wouldn’t have to worry about any security problem during the investments and transactions.
Storj introduced and release their cryptocurrency, Storjcoin X three years ago. Basically, Storj is a decentralized data storage that utilizes open-source and encryption. Storjcoin X tokens are used to access Storj storage and network. It’s been fluctuating but Storjcoin X has occupied the market for about US$ 10 million. Storjcoin X can be a promising investment.
It can be concluded that cryptocurrency “best” predicate can’t only be concluded only based on the value rate. Many features offered by various cryptocurrencies that can meet your personalization. Security, Privacy, Decentralized storage, and other features can be your considerations before deciding to invest cryptocurrencies. There are still thousands of cryptocurrency that is actually competing to increase their value. You can invest safely by investing the well-established cryptocurrency from the brokers. You can also directly mine the coins, but this will require a lot of hardware investments. Otherwise, you can invest a growing and develop cryptocurrency, observe the trend and growth, and learn how they go so you can manage profit and gain other benefits.