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Introduction to cryptocurrencies

Investing in the cryptocurrency market is often complex, especially for traditional investors. This is because investing directly in Cryptocurrencies requires the use of new technologies, tools, and the adoption of some new concepts.

If you decide to dive into the world of cryptocurrencies, you will need to have a clear idea of ​​what to do and what to expect.

Be it Bitcoin, Litecoin, Ethereum, or any of the 1,300 tokens, buying and selling cryptocurrencies requires you to choose an exchange that deals with the products you want.

Being the most famous decentralized cryptocurrency, Bitcoin leads the crypto space so dominant that the terms crypto and bitcoin are sometimes used interchangeably. However, the thing is, there are also other cryptocurrencies that can be trusted to make crypto investments.

Litecoin

Litecoin, also known as ‘silver to Bitcoin gold’ is an open source decentralized payment network that works without involving an intermediary.

How is Litecoin different from Bitcoin? Well, both are similar in many ways, however Litecoin’s block generation is much faster than Bitcoin’s. This is making investors around the world open to accepting Litecoin.

Charlie Lee, a former Google engineer founded Litecoin in 2011. Although Litecoin does not have the anonymity technology of Bitcoin, recent reports have shown that Litecoin is preferred after Bitcoin due to its persistence. Another factor that favors Litecoin is the Bitcoin SegWit technology which means the secure trading of currencies between pairs without involving participation in the exchange.

Ethereum

Launched in 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to work without third-party interference. The currency is the ether which is like an accelerator within the ethereum platform. In the leading cryptocurrency space, Ethereum. it is the second most preferred option after Bitcoin.

Zcash

Zcash caught the eye in the latter part of 2016 and is focused on solving the problem of anonymous transactions. To understand the currency, let’s consider that “if bitcoin is like HTTP for money, Zcash is HTTPS”.

The coin offers the option of the protected transaction to maintain the transparency, privacy and security of the transactions. This means that investors can transfer data in the form of encrypted code.

Pinch

Originally known as darkcoin, Dash is a more selective version of bitcoin. It was launched in January 2014 by Evan Duffield under the name Xcoin. It is also known as a Decentralized Autonomous Organization or simply DAO. The coin was meant to eradicate all of the prevailing limitations of Bitcoin. Currently, Bitcoin has earned a substantial position in the cryptocurrency space.

The alternative to virtual currency that promises secure and anonymous transactions through peer-to-peer networks is cryptocurrency. The key to making a lot of money is making the right investment at the right time.. Compared to making money daily, cryptocurrency models work without involving any middle man as a decentralized digital mechanism. In this distributed cryptocurrency mechanism, ongoing activity is issued, managed, and supported by the community’s peer network. The cryptocurrency is known for its fast transactions over any other mode, such as digital wallets and other means.

In addition to the aforementioned, other top cryptocurrencies include Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).

Although bitcoin is setting trends and leading the race, other currencies have also achieved a significant position and their preference is growing by the day. Considering the trend, the other cryptocurrencies will have a long way to go and could soon give Bitcoin a really difficult time to maintain its position.

If you have decided to make a speculative investment in this disruptive technology, and you want to have all the current and future recommendations, connect with “The Top Coins”.

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