Getting Started With CryptocurrenciesGeneral
Investing in the cryptocurrency market space is often complex especially for the traditional investors. This is because investing directly in Cryptocurrency requires the use of new technologies, tools and adopting some new concepts.
If you decide to dip your toes in the CryptoCurrency world, you will need to have a clear picture of what to do and what to expect.
Be it Bitcoin, Litecoin, Ethereum or any of the 1300 tokens, buying and selling cryptocurrencies require you to choose an Exchange that deals in the products you want.
Being the most famous decentralized cryptocurrency, Bitcoin leads the crypto space so dominantly that the terms crypto and bitcoin are sometimes used interchangeably. However, the matter of fact is that there are other cryptocurrencies as well that can be relied upon for making crypto-investments.
Litecoin, also referred to as ‘silver to Bitcoin’s gold’ is an open-source decentralized payment network that functions without involving an intermediary.
How does Litecoin vary from Bitcoin? Well, both are similar in many ways, however the block generation of Litecoin is much faster than that of Bitcoin. This is making the investors around the world open to accept Litecoin.
Charlie Lee, a former engineer at Google founded Litecoin in 2011. Though Litecoin does not have the anonymity technology of Bitcoin, recent reports have shown that Litecoin is preferred after bitcoin because of its persistence. Another factor that favours Litecoin is the Bitcoin SegWit technology that means secure peer-to-peer trading of currencies without involving exchange participation. best altcoins 2021
Launched in the year 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to function without third party interference. The currency is the ether that is like an accelerator within the ethereum platform. In the leading cryptocurrencies space, Ethereum. is the second most preferred choice after Bitcoin.
Zcash gained attention in the latter part of 2016 and focuses on solving the problem of anonymous transactions. To understand the currency, let’s take it as “if bitcoin is like HTTP for money, Zcash is HTTPS”.
The currency offers the choice of the shielded transaction to maintain the transparency, privacy and security of transactions. This means the investors can transfer data in the form of encrypted code.