Various Types Of Cryptocurrency Available In Market
Various Types Of Cryptocurrency Available In Market. Today’s everyone want to know about the cryptocurrency or the digital currency but only few people know about it.
Here in this blog will discuss about the different cryptocurrencies in which you can invest.
Cryptocurrency discussed in this blog are according to their market cap but this should not be taken as an investment advice. Thousands of cryptocurrencies available in market but here discussing only those that are well-known in market.
First cryptocurrency introduced in the year 2009 that is Bitcoin now a well-known name in cryptocurrency market. By each passing day cryptocurrency market is spreading its root and becoming wild. Supply and demand are two important factors that affect the prices of cryptocurrency.
What is Cryptocurrency:
Cryptocurrency is the form of digital money or a decentralized currency. Hence it is the convenient and fast way of making transactions worldwide. Increase in interest of people in cryptocurrency making it to reach to new heights. Recent Bitcoin is the winner among the various cryptocurrencies.
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Bitcoin is in the top of list with $128,359,245,597 market capitalization.Bitcoin was invented by the Satoshi Nakamoto but it is believe that it is not invented by only one person rather than invented by the group of IT/Banking specialists, at that time Bitcoin was only available as a virtual currency in the market.
For buying 1 BTCUSD Bitcoin US dollar you need to pay $7692(Figure till November 2017).
Bitcoin is the most costly virtual currency available in the market that made legal and accepted in most of the countries. In most of the countries Bitcoin is illegal too.
If you do not have enough money to buy the Bitcoin then you can also buy the Satoshi that is the small part of Bitcoin. You can easily buy the Bitcoin by means of credit card or debit card or else you can keep the Bitcoins in Bitcoin wallets. Anonymous use of Bitcoin is also possible therefore many countries are putting their concerns on the usage and trading of Bitcoins.
Ethereum is on the second position it is a decentralised platform for those applications that exactly run as being programmed. In order to run smart contracts Ethereum is built and also based on custom build blockchain.
Ethereum wallets are available for the purpose to hold and secure Ethereum and to deploy and use smart contracts. In simple words Ethereum is open software platform based on blockchain technology that emphasizes on running programming code of decentralized applications.
Ethereum proved to be a good investment in future. Ethereum market cap is $ 32,157,651,120 with $ 336.66 price
Bitcoin cash is a separate currency now with a market cap of $21,898,987,947.You need to spend $ 1,303 to buy one bitcoin cash (BCH).Bitcoin cash received the appreciation only after bitcoin fork failed in November 2017.Now Bitcoin cash is on the third position in crptocurrency.
Ripple is the transaction protocol used for the purpose of global payments. By means of Ripple payments transmitted internationally at very low-cost. Due to this investors make the confidence in this protocol.
Ripple has many esteemed clients such as American Express, Japan, SBI Holdings and so on. According to the market cap it is on the fourth position in cryptocurrency. Ripple introduced in the year 2012
.Market cap of Ripple is $8,748,471,371.You require to spend $ 0.2265 to buy one unit of Ripple.
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Litecoin is similar t that of Bitcoin it is an open source peer to peer digital currency with market cap $3,642,128,063.You need to spend $ 67.60 for 1 Litecoin.
Introduced three year ago and also called as Xcoin and Darkcoiun.It is an open source peer-to-peer virtual currency with market cap of around $3,439,084,884.You need to spend $446.86 for one dash.
NEO has market cap of $3,126,051,500 and you require to spend only$ 48.09 for one NEO .In order to digitize the assets this non-profit community based blockchain project utilizes the blockchain technology. Uses smart contracts for automating the management of digital assets and also realizes the smart economy with distributed network.
IOTA has a market cap of $2,133,859,296 and you need to spend $ 0.7677 for one IOTA. Tangle is behind the innovation of IOTA. It is a new blockless distributed ledger which is lightweight, scalable and does not require any fees for transfer of values.
Monero has market cap of $1,985,971,808 and you need to spend $ 129.22 for one unit.Monero was introduced in April 2014 that emphasizes on the decentralization and privacy. It is an open source virtual currency.
NEM has market cap of $1,742,634,000 and you can get one NEM in $0.1936.
Introduced in March 2015 and runs on JAVA platform.
Things to Remember:
If you are planning to invest on Cryptocurrencies then have a look on these points:
- Do not put all your eggs in one basket try to invest some amount of money first, preferably 5 percent is a good move. Do not invest your whole money on same cryptocurrency.
- Invest only that much money that you can afford to lose as cryptocurrency is a gamble you never know what will happen next so take the risk with your risky amount.
- If you are doing investment in cryptocurrency then also make assumption that it can also reach to Zero value rest all depend on your luck factor.
- Sell the profit gain. If you make the profit then sell the portion of it and see how it performs it goes up then play with next portion.
- Never store the coins on an exchange
Hope after reading this blog you got enough idea about the cryptocurrencies and now you can set your mind before investing money on any of the cryptocurrency.
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Author: Poonam Kaushal
A blogger and passionate writer who always try to introduce new concepts to readers.Involved in blogging since 2014 and believe in “No pain No gain” if you have to achieve something then you need to work hard.Working as freelance blogger in many companies and also managing her own blog that you all know savenlike.com.