There are many people who consider cryptocurrencies these days because it offers a substantial return at the end of the day. Aside from the returns, you can also use it as a form of payment. Cryptocurrency refers to a virtual currency. It uses encryption techniques to regulate the creation of units and verify the transfer of funds. It is not operating under any central bank hence it is decentralised.
Others are wondering if it is real money. The truth is, it can be considered real money because it can be used as a form of payment. Many merchants these days accept it as a form of payment whether online or offline. However, since this is a new concept, it will take some time for others to accept it.
Cryptocurrency is preferred by most because the transactions are irreversible. After the confirmation, nobody can reverse the transaction. Once you send the money, you cannot take it back. Cryptocurrency is also pseudonymous. This means that accounts or transactions are not connected to real-world entities. Aside from that cryptocurrencies are also fast – the transactions are made almost instantly. More importantly, it is secure because of the public key cryptography system.
If you want to invest, it is crucial that you know popular cryptocurrencies. If you understand it, you can decide which one to invest in. Here are the popular cryptocurrencies in the world:
Bitcoin is the most popular cryptocurrency in the digital world. It behaves like gold. Once you possess it, you can buy or sell kripto para. It first appeared in 2009 and started at 0 market price. Today, the price rose to astounding $8000. In fact, it has become the de facto standard for other cryptocurrencies. It is easy to buy and sell Bitcoins because of the trading exchanges. At the moment, merchants are accepting Bitcoins as a form of payment.
Ethereum was launched in 2015. It is, in fact, the second most popular and valuable cryptocurrency following Bitcoins. It is a programmable currency that allows the developers to create different distributed technologies that will not work with Bitcoin. Basically, it can trade just about anything.
Litecoin was launched in 2011. It is famous because it is referred to as the “silver” in the cryptocurrency world. It is an open source payment network that is not controlled by any central authority. Litecoin is a lot like Bitcoin actually.
Dash is a discreet version of Bitcoin. It is famous because of its master code network that makes all the transactions almost untraceable. It was launched in 2014. With this, it has an increasing fan following since then.
Ripple offers instant and low-cost international payments. In fact, it allows the banks to settle payments in real time regardless of the place. It was released in 2012. Unlike other cryptocurrencies, Ripple does not need mining.
As an investor, your job is to take advantage of opportunities available in the market. Sometimes, these opportunities may come in a different form but it doesn’t mean it is not worth it. Like any investment, cryptocurrencies are risky but with the current market prices, it will stay.