Which Cryptocurrencies are good to invest in?

This year the value of Bitcoin has increased, even more than an ounce of gold. There are also new cryptocurrencies on the market, which is even more surprising as it brings the value of cryptocurrencies to more than a hundred billion. On the other hand, the longer-term outlook for cryptocurrency is a bit blurry. There are squabbles of lack of progress among its core developers that make it less enticing as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market capitalization at about $41 billion and has been for the past 8 years. All over the world, Bitcoin has been widely used and so far it is not easy to exploit the weakness in the method that works. Both as a payment system and as a stored value, Bitcoin allows users to receive and send bitcoins easily. The concept of the blockchain is the basis on which Bitcoin is based. It is necessary to understand the concept of blockchain to get a sense of what all cryptocurrencies are.

To put it simply, blockchain is a distributed database that stores each network transaction as a piece of data called a “block”. Every user has copies of the blockchain so when Alice sends 1 bitcoin to Mark, every person on the network knows.

Litecoin

An alternative to Bitcoin, Litecoin tries to solve many of the problems that hold Bitcoin back. It is not as resilient as Ethereum with its value derived mostly from solid user adoption. It is worth noting that Charlie Lee, ex-Googler leads Litecoin. He also practices transparency with what he does with Litecoin and is quite active on Twitter.

Litecoin was second fiddle to Bitcoin for a long time, but things started to change before the year 2017. First, Litecoin was adopted by Coinbase along with Ethereum and Bitcoin. Later, Litecoin fixed Bitcoin’s problem by adopting Segregated Witness technology. This gave them the ability to lower transaction fees and do more. The decisive factor, however, was when Charlie Lee decided to put his sole focus on Litecoin and even left Coinbase, where he was the Director of Engineering, just for Litecoin. Due to this, the price of Litecoin has increased in the last two months with its strongest factor being the fact that it could be a real alternative to Bitcoin.

ethereum

Vitalik Buterin, superstar programmer designed Ethereum, which can do everything Bitcoin is capable of doing. However, its main purpose is to be a platform for building decentralized applications. Blockchains are where the differences between the two lie. Basically, the Bitcoin blockchain records a type of contract, one that indicates whether funds have been moved from one digital address to another. However, there is a significant expansion with Ethereum, as it has a more advanced language script and has a more complex and wider scope of applications.

Projects started popping up on Ethereum when developers started to notice its better qualities. Through the crowd token sale, some have even raised millions of dollars and this is still a continuing trend even to this day. The fact that you can build wonderful things on the Ethereum platform makes it almost like the internet itself. This caused a crash in the price so if you bought a hundred dollars of Ethereum earlier this year, it would not be valued at almost $3000.

Money

Monero aims to solve the problem of anonymous transactions. Although this currency has been perceived to be a method of money laundering, Monero aims to change this. Basically, the difference between Monero and Bitcoin is that Bitcoin features a transparent blockchain with every transaction public and recorded. With Bitcoin, anyone can see how and where money has been moved. However, there is some imperfect anonymity about Bitcoin. In contrast, Monero has an opaque rather than transparent transaction method. No one is quite sold on this method, but since some love privacy for any purpose, Monero is here to stay.

Zcash

Not unlike Monero, Zcash also aims to solve the problems that Bitcoin has. The difference is that instead of being completely transparent, Monero is only partially public in its blockchain style. Zcash also aims to solve the problem of anonymous transactions. After all, not every person likes to show how much money they really spent on memorabilia from Star Wars. Thus, the conclusion is that this type of cryptocoin really has an audience and a demand, although it is difficult to indicate which cryptocurrency that focuses on privacy will eventually come out on top of the pile.

Bank

Also known as “smart token”, Bancor is the new generation standard of cryptocurrencies that can contain more than one token in reserve. Basically, Bancor is trying to make it easier to trade, manage and create tokens by increasing their level of liquidity and letting them have a market price that is automated. At the moment, Bancor has a front-end product that includes a wallet and the creation of a smart token. There are also community features such as stats, profiles and discussions. In a nutshell, Bancor’s protocol enables integrated price discovery as well as a liquidity mechanism for smart contractual tokens through an innovative reserve mechanism. Through the smart contract, you can instantly liquidate or buy any of the tokens in Bancor’s reserve. With Bancor, you can create new cryptocoins with ease. Now who wouldn’t want that?

EOS

Another competitor of Ethereum, EOS promises to solve Ethereum’s scaling problem through the provision of a set of tools that are more robust to run and create apps on the platform.

Theses

An alternative to Ethereum, Tezos can be updated consensually without too much effort. This new blockchain is decentralized in the sense that it is self-governing through the creation of a true digital commons. It facilitates the mathematical technique called formal verification and has features to enhance the security of the most financially weighted and sensitive smart contract. Definitely a great investment in the coming months.

Verdict

It is incredibly difficult to predict which Bitcoin in the list will become the next superstar. However, user adoption has always been a key success factor when it comes to cryptocurrencies. Both Ethereum and Bitcoin have this, and although there is a lot of support from the early adopters of each cryptocurrency on the list, some have yet to prove their staying power. However, these are the ones to invest in and watch out for in the coming months.

7 Advantages of Cryptocurrency

Cryptocurrency is a digital alternative to using credit cards or cash to make everyday payments in a variety of situations. It continues to grow as a viable alternative to traditional payment methods, but it still needs to become more stable before it is welcomed by ordinary people. Let’s look at some of the many advantages of using cryptocurrency:

Fraud – any problem with fraud is kept to a minimum because the cryptocurrency is digital which can prevent a reversed or counterfeit payment. This type of action can be a problem with other traditional payment options, such as credit card, due to chargebacks.

Identity theft – there is no need to give out personal information that can lead to identity theft when using cryptocurrency. If you use a credit card, the store is given a lot of information related to your credit line, even for a very small transaction. Also, the credit card payment is based on a pull transaction where a specific amount is requested from an account. With a cryptocurrency payment, the transaction is based on a push basis, which gives the account holder the option to send only the exact amount due without extra information.

Versatile use – a payment for cryptocurrency can easily be made to meet certain terms. A digital contract can be created to make a payment subject to completion at a future date, reference to external facts, or obtain third party approval. Even with a special contract in place, this type of payment is still very fast and efficient.

Easy access – the use of cryptocurrency is widely available to anyone with access to the Internet. It is growing very popular in some parts of the world, such as Kenya, which has almost 1/3 of the population using a digital wallet via the local microfinance service.

Low fees – it is possible to complete a cryptocurrency transaction without having to pay extra fees or charges. However, if a digital wallet or third-party service is used to hold the cryptocurrency, there is likely to be a small charge.

International trade – this type of payment is not subject to country-specific taxes, transaction charges, interest rates, or exchange rates, which allows you to complete cross-border transfers with relative ease.

Adaptability – with almost 1200 unique types of cryptocurrency in the global market, there are many opportunities to use a payment method that corresponds to specific needs. Although there are many options to use the coins for everyday use, there are also those intended for a specific use or in a particular industry.

6 Benefits of Investing in Cryptocurrencies

The birth of bitcoin in 2009 opened the doors to investment opportunities in a completely new type of asset class – cryptocurrency. Many have entered the space before.

Intrigued by the immense potential of these rare but promising assets, they bought crypto at cheap prices. Consequently, the 2017 bull run saw them become millionaires/billionaires. Even those who didn’t share much reaped decent profits.

Three years later, cryptocurrencies are still profitable, and the market is here to stay. You may already be an investor/trader or perhaps contemplating trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

According to a report titled Imagine 2030, published by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.

Cryptocurrencies will no longer be seen as marginalized but alternatives to existing monetary systems. Its benefits, such as security, speed, minimal transaction fees, ease of storage, and relevance in the digital age, will be recognized.

Concrete regulatory guidelines will popularize cryptocurrencies, and promote their adoption. The report predicts that there will be 200 million users of cryptocurrency wallets by 2030, and almost 350 million by the year 2035.

Opportunity to be part of a growing Community

#IndiaWantsCrypto by WazirX campaign recently completed 600 days. It has become a massive movement supporting the adoption of cryptocurrencies and blockchain in India.

Additionally, the recent Supreme Court ruling overturning RBI’s crypto banking ban from 2018 has instilled a new rush of confidence among Indian bitcoin and cryptocurrency investors.

The Edelman Trust Barometer 2020 report also points to people’s growing faith in cryptocurrencies and blockchain technology. According to the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say the impact of cryptocurrency/blockchain will be positive.

By being a cryptocurrency investor, you stand to be a part of a thriving and fast-growing community.

Increased profit potential

Diversification is an essential investment rule. In particular, in these times when the majority of assets have suffered heavy losses due to economic difficulties stimulated by the COVID-19 pandemic.

While investing in bitcoin has given 26% returns since the beginning of the year to date, gold has returned 16%. Many other cryptocurrencies have recorded triple-digit ROIs. The stock markets, as we all know, have posted dismal performances. Crude oil prices notoriously fell below 0 in the month of April.

Including bitcoin or any other cryptocurrencies in your portfolio protects the value of your fund in such uncertain situations of the global market. This fact was also impressed by the billionaire macro hedge fund manager Paul Tudor Jones when a month later he announced plans to invest in Bitcoin.

Cryptocurrency Markets are on 24X7X365

In contrast to the usual markets, cryptocurrency markets operate around the clock, every day of the year without fatigue. That’s because digital currency systems are essentially designed with pieces of software code that are secured by cryptography.

The operational plan does not involve human interference. Therefore, you are free to trade crypto or invest in digital assets whenever you want. It’s a great benefit! Cryptocurrency markets are very efficient in this way.

For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.

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No paperwork or formalities required

You can invest in bitcoin or any other cryptocurrency anywhere and anytime without unnecessary terms and conditions.

Unlike conventional investment options, where an absurdly high amount of documentation is required to prove yourself as an “accredited investor”, crypto investing is free for all. In fact, this was the intended purpose behind the inception of cryptocurrencies. The democratization of finance/money.

To buy any cryptocurrency WazirX, you need to open an account for which you only need to provide some basic details including your bank account information. Once they are verified, within a few hours, you are good to go.

Sole Proprietorship in Investments

When you buy bitcoin or any other cryptocurrency, you become the sole owner of that particular digital asset. The transaction happens in a peer-to-peer agreement.

Unlike bonds, mutual funds, brokers, no third party “manages your investment” for you. Call the buy and sell shots whenever you want.

User autonomy is the biggest benefit of cryptocurrency systems that provide incredible opportunities to invest and build a corpus on your “independent” main capital.

Here are some of the benefits of investing in cryptocurrencies. We hope you find them useful and convincing enough to start your crypto investment journey.

6 Incredible Benefits of Cryptocurrency

In recent years, people have been talking a lot about cryptocurrency. At first, this venture sounded scary, but people began to develop confidence in it. You may have heard of Ether and Bitcoin. Both are cryptocurrencies and use Blockchain Technology for the highest possible security. Today, these coins are available in many types. We know more about it.

How can encryption help you?

In terms of fraud, this type of currency cannot be forged as in digital form and cannot be reversed or forged unlike credit cards.

Immediate solution

The purchase of real estate involves third parties, such as lawyers and the notary. Therefore, delays may occur and extra costs may be incurred. On the other hand, Bitcoin contracts are designed and enforced to include or exclude third parties. Transactions are fast and payments can be made instantly.

Lower rates

Typically, there is no transaction fee if you want to exchange Bitcoin or any other currency. To verify a transaction, there are minors who are paid by the network. Although there is a zero transaction fee, most buyers or sellers employ the services of a third party, such as Coinbase for the creation and maintenance of their wallets. If you don’t know, these services work like Paypal offering a web based exchange system.

Identification of the theft

Your merchant receives your full line of credit when you provide them with your credit card. This is true even if the transaction amount is very small. In fact, what happens is that credit cards work based on a “pull” system where the online store pulls the required amount from the account associated with the card. On the other hand, digital currencies present a “push” mechanism where the account holder sends only the required amount without any additional information. So, there is no chance of theft.

Open access

According to statistics, there are about 2.2 billion people who use the Internet, but not all of them have access to the conventional exchange. Thus, they can use the new form of payment method.

Decentralization

In terms of decentralization, an international computer network called Blockchain technology manages the Bitcoin database. In other words, Bitcoin is under the administration of the network, and there is no central authority. In other words, the network works on a peer-to-peer based approach.

Acknowledgment

Since cryptography is not based on exchange rates, transaction charges or interest rates, you can use it internationally without suffering from problems. Thus, you can save a lot of time and money. In other words, Bitcoin and other currencies like it are recognized worldwide. You can count on them.

So, if you are looking for a way to invest your extra money, you can consider investing in Bitcoin. You can become a miner or an investor. However, make sure you know what you are doing. Safety is not an issue, but other things are important to keep in mind. Hopefully, you will find this article useful.

5 Benefits of Trading Cryptocurrencies

When it comes to trading cryptocurrencies, you have to speculate whether the market you have chosen will go up or down in value. And the interesting thing is that you never own the digital asset. Indeed, trading is done with derivative products such as CFDs. Let’s take a look at the benefits of trading cryptocurrencies. Read on to learn more.

Volatility

While cryptocurrency is a new market, it is quite volatile due to short-term speculative interest. The price of bitcoin fell to $5851 from $19,378 in 2018, in just one year. However, the value of other digital currencies is quite stable, which is good news.

What makes this world so exciting is the volatility of cryptocurrency value. Price movements offer many opportunities for traders. However, this comes with a lot of risk as well. So if you decide to explore the market, make sure you do your research and put a risk management strategy in place.

Business hours

Typically, the market is open for trading 24/7 because it is not regulated by any government. Also, transactions are made between buyers and sellers around the world. There may be brief downtimes when infrastructure upgrades are made.

Improved liquidity

Liquidity refers to how quickly a digital currency can be sold for cash. This feature is important because it allows faster transaction times, better accuracy and better pricing. In general, the market is not very liquid as financial transactions happen in different exchanges. Therefore, small trades can bring big changes in prices.

Leveraged Exposure

Since CFD trading is considered a leveraged product, you can open a position on what we call “margin”. In this case, the value of the deposit is a fraction of the commercial value. Thus, you can enjoy a great exposure to the market without investing a lot of money.

The loss or profit will reflect the value of the position at the time of its closing. Therefore, if you trade on the margin, you can earn huge profits by investing a small amount of money. However, it also magnifies losses that can exceed your deposit on a trade. Therefore, be sure to take into account the total value of the position before investing in CFDs.

In addition, it is important to ensure that you follow a solid risk management strategy, which should involve appropriate limits and stops.

Fast account opening

If you want to buy cryptocurrencies, make sure you do it through an exchange. All you have to do is sign up for an exchange account and keep the currency in your wallet. Keep in mind that this process can be restrictive and take a lot of time and effort. However, once the account is created, the rest of the process will be quite smooth and without complications.

Long story short, these are some of the most important benefits of cryptocurrency trading in the here and now. I hope you will find this article very useful.