Since its opening in 2009, the world of cryptocurrencies has been gaining more and more interested people every day. While marketed as an alternative means of exchanging money, people also consider this as a potential investment. If you are going to sum it up, there are about one thousand plus cryptocurrencies available today. However, if you are wondering which cryptocurrencies are worth investing in, these are the one that have a large market capitalization. It has a similarity with looking at stocks. You can use it to see the total worth or value of the coin. The larger the capital, the more reason that its value will stand the test of time and more likely to be equal. The difference of cryptocurrency with stock is that they do not provide a financial statement. If you are interested in investing in cryptocurrency, here are the types you can invest in.
It is one of the most popular types of cryptocurrency and has made its first appearance back in 2009. BTC, or commonly known as Bitcoin, uses a blockchain technology that allows end-to-end transactions with a decentralized ledger. Since it operates digitally, it’s very secure, thanks to the blockchain algorithm. Transferring or sending money around the world in just a snap of a finger without the hassle of converting and knowing bank exchange rates and other fees was a dream come true for some.
LTC or Litecoin was first introduced back in 2011 as an alternative to Bitcoin. For those people who are interested in investing in cryptocurrency but don’t want to pay for high prices, then Litecoin is the one for you. It is referred to as digital silver. Litecoin also uses blockchain technology and has a faster transaction rate compared to Bitcoin.
ETH made its first appearance in 2015, and it is a type of cryptocurrency that also uses blockchain technology, but with a programmable approach. It is designed to become an open-source platform where it can provide different applications. Since it is programmable, it was able to unlock more features rather than handling money transactions only. It is one of the key reasons why there is a smart contract technology that lets different agreements be implemented safely straight between parties. If you think that blockchain technology could be more than just a financial transaction, ETH may be a good investment for you.
Ripple was launched in 2012 and mostly focuses on payment systems. It is designed to create a fast, efficient, safe, and secured low-cost method of transferring money from one account to another. What we mean by that is it can settle transactions in just a span of three to five seconds faster compared to what BTC, LTC, and Euthereum have. If you are interested in cryptocurrencies such as Ripple, it is important to know why you want to invest in them, and the possibility for the adoption of the underlying technology, rather than the currency itself.
Those are the types of cryptocurrencies you can invest your money in. Always remember to check what your needs are and do a lot of research. It is also important to take note that cryptocurrencies are still volatile in pricing, and there is no guarantee of their future. So carefully consider the amount of time you want to devote to such a deranged world.