Do you often wish you knew certain things about cryptocurrencies before you start investing in them? I do. For me, I find it useful to know everything about a particular commodity before I purchase it. Whether it is stocks or cryptocurrencies, I do my research before I invest. What are the things you look for or wish to know about cryptocurrencies?
I usually check as much about the team as I can if we are talking about an ICO or an altcoin with a centrized development team. If they have a good track record at least you can be sure that its not a total scam. At the worst case they will try their hardest to make their coin a success.
The first and most prominent cryptocurrency, Bitcoin acts as the gold standard within the whole cryptocurrency space, meaning that the price of more or less every other cryptocurrency is (at least to some degree) pegged against the price of Bitcoin. Find out more about trading Bitcoin here.
The Ethereum (Ether) coin is designed in a fundamentally different way to Bitcoin, in that its Blockchain does not only work to validate a range of accounts and balances, but also what are known as states. Ethereum is also used as a platform for Blockchain-application, meaning that other businesses and developers are able to launch their own tokens by means of the Ethereum platform and infrastructure. Find out more about trading Ethereum here.
The native cryptocurrency of the Ripple ecosystem, XRP, is one of the most traded currencies in the crypto space. Although it’s primary use case hasn’t been widely adopted yet, the XRP token serves the purpose of making payments and transfers between banks fundamentally simpler. So far, many banks around the world have shown interest in adopting Ripple, and it’s brand is growing at an ever-increasing pace. Ripple’s primary objective is to speed up financial transfers between banks from days to seconds. Find out more about trading Ripple here.
Following Bitcoin, Litecoin was one of the earliest cryptocurrencies to emerge within the space, and has thus been deemed as “the silver to the digital gold bitcoin”. Litecoin is still being actively developed and traded, and is deemed by many as a viable ‘backup’ in the event that Bitcoin fails. Litecoin also claims to be a better and faster alternative for transactions and payments. Find out more about trading Litecoin here.
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danielhowellDo you often wish you knew certain things about cryptocurrencies