Cryptocurrency has become increasingly popular over the past few years as more and more people want to join in on the trend of owning crypto coins, tokens, and assets. And why wouldn’t they? The overall market cap of cryptocurrencies grew from $17 billion at the beginning of 2017 to over $600 billion by December of that same year. That’s an increase of 3000%! If you had invested just $100 in January 2017, your investment would have been worth over $3000 by December 2017 – not a bad return on investment, right?
The basics of cryptocurrency
Cryptocurrency is a digital or virtual asset that uses cryptography for security. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. The exchange rate is determined by market forces of supply and demand as opposed to being controlled by a central bank. There are many different types of cryptocurrencies such as altcoins (alternative coins) which were launched after bitcoin with modifications to its source code such as Litecoin and Ethereum. Another type of cryptocurrency called IOTA has gained attention this year after trading above $5 USD per coin at its peak. One major factor that makes IOTA so appealing is that it does not use blockchain technology like other cryptocurrencies. Instead, it uses Tangle technology which involves nodes and users creating new blocks for the ledger without any fees attached. As far as regulations go, countries around the world have been having mixed responses to this new technology. China has banned initial coin offerings (ICOs), while South Korea decided to regulate them instead. Japan adopted a more hands-off approach but plans on banning minors from trading due to high risk of addiction and confusion among investors who may not fully understand what they’re getting into . Russia and Iran have made their own cryptocurrencies while Venezuela announced their national currency will now be backed by oil, gas, gold and diamonds. With all these choices out there you may find yourself asking what would make an investor choose one currency over another? You’ll want to know how big the team is behind it, how active the community is, and whether or not there’s an established use case for the token/currency.
Bitcoin is the original cryptocurrency and still the king of the market. It’s the most widely known and accepted digital currency, and continues to grow in popularity. While it can be volatile, Bitcoin has seen some tremendous growth over the past few years. If you’re looking to invest in cryptocurrency, Bitcoin is a good place to start. The value isn’t too hard to keep track of and doesn’t experience rapid changes on a day-to-day basis like other cryptocurrencies do. Litecoin (LTC): Litecoin is one of the oldest cryptocurrencies out there – it was created back in 2011 by former Google employee Charlie Lee as an alternative to Bitcoin.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Ethereum is one of the most popular cryptocurrencies, and its popularity is only increasing. If you’re thinking about investing in cryptocurrency, Ethereum is a great choice. Here’s a beginner’s guide to investing in Ethereum.
Ethereum is a good investment for a number of reasons. First, it has been around for longer than many other cryptocurrencies, so it has a proven track record. Second, it is one of the most widely used cryptocurrencies, so you’ll be able to easily find buyers and sellers. Third, Ethereum has a strong team of developers working on it, which means that it is constantly improving.
Litecoin is often referred to as the silver to Bitcoin’s gold. Litecoin is very similar to Bitcoin in terms of features and functionality, but it has a few key differences. For one, Litecoin has a faster block time. This means that transactions are confirmed faster on the Litecoin network. Litecoin also has a different mining algorithm than Bitcoin, which allows for more decentralization. Finally, Litecoin has a larger maximum supply than Bitcoin, which means it could potentially be more inflation-resistant.
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable secure, instant and nearly free global financial transactions of any size with no chargebacks. It supports tokens representing fiat currency, cryptocurrency, commodities or other units of value such as frequent flier miles or mobile minutes.
Dash is a cryptocurrency that focuses on privacy and speed. Transactions are almost instant and they are very cheap. Dash is also one of the most user-friendly cryptocurrencies, making it a great choice for beginners. The Dash team is constantly innovating and expanding the reach of their currency. For these reasons, Dash is a good choice for those looking for a cryptocurrency to invest in today. It has been around since 2014 and remains consistently among the top five largest cryptocurrencies by market cap. While investing in any cryptocurrency carries risk, Dash is a relatively safe bet with a high potential for growth.
NEO is a cryptocurrency that has been on the rise in recent months. Many experts believe that NEO has the potential to become the leading cryptocurrency in China and beyond. If you’re looking for a good cryptocurrency to invest in today, NEO is a great option.
Here are a few things to keep in mind if you’re thinking of investing in NEO . First, NEO operates as both a cryptocurrency and an open source blockchain platform. Second, one of the best features about NEO is its scalability–it can handle up to 10,000 transactions per second with the possibility of scaling up to 100,000 transactions per second in the future.
Monero is a cryptocurrency that is focused on privacy and security. Transactions on the Monero network are confidential and untraceable. Monero is a good choice for investors who value privacy and security. The Monero team is experienced and has a strong community. The project is well-funded and has a roadmap with clear milestones. Furthermore, developers of Monero contribute to other projects in the crypto space. There are no major scaling issues as of yet, but there may be in the future due to how Monero works.
IOTA is a unique cryptocurrency because it doesn’t use a blockchain like most other coins. Instead, it uses a directed acyclic graph (DAG) called the Tangle. IOTA is still in development and not all features are available yet, but it has potential to become the top coin in the crypto world. Right now, IOTA is one of the best coins to invest in because it’s still relatively new and has a lot of room to grow. The same can be said for Ethereum Classic (ETC), Cardano (ADA), Ripple (XRP), Neo (NEO), Stellar Lumens (XLM). It might be hard to tell which coin will take over Bitcoin as the leading cryptocurrency, so diversifying your portfolio with different types of currencies is always good.
Stellar Lumens (XLM)
Stellar Lumens is a good choice for a beginner’s cryptocurrency investment for a few reasons. First, it’s affordable, with a current price of around $0.25 per coin. Second, it has a strong team behind it and is backed by some big names in the industry. Third, it has a strong community of users and developers. Finally, it has a lot of potential for growth, with plans to become a major player in the payments industry. It will likely experience significant gains as more people use it for transactions, as well as an increase in demand from investors looking to get into the market early. The only downside is that there isn’t much information about where this project will go in the future; however, if you’re looking for a cryptocurrency with high-growth potential at an affordable price point then XLM might be your best bet.