3 Types of Cryptocurrency to Consider Investing In
There are many forms of cryptocurrency to invest in.
They can be used as payment online, traded, or stored in digitalized wallets for investment purposes.
This article will consider some of the popular online currencies that are attracting investors and traders alike.
The types of currency that can be bought and traded on the https://cryptoevent.io official site.
Bitcoin
Bitcoin was invented as a cryptocurrency in 2008. This was by an unknown person, although the name of Satoshi Nakamoto has been used as the name for the group who invented it.
The currency would begin to be used in 2009 when it was released in an open-software form.
There is only ever going to be 21 million Bitcoins created, so demand one day will exceed supply. This can only improve the long-term investment potential for the currency.
Also, due to the buoyancy of its market, there is a chance to earn money short term from investing in this online cryptocurrency. The prices of Bitcoins have soared in recent years.
Bitcoin boasts user autonomy and discretion. There is a peer-to-peer focus attached to it. Bitcoin eliminates banking fees and offers exceptionally low transaction fees in respect of international payments. There are low mobile payments too.
In terms of accessibility, it takes some beating as a currency, crypto, or otherwise.
Litecoin
Beginning in 2011, Litecoin is a very similar cryptocurrency to Bitcoin. It, too, can be described as a peer-to-peer cryptocurrency and was started from an open-source software project that was licensed under MIT/X11. It is one of the early Bitcoin altcoins or spinoffs.
Although Bitcoin is more popular and widely known, the advantage of Litecoin is that it can deal with a greater number of transactions due to its shorter generation time.
In addition, Litecoin has the benefit of a hardly noticeable transaction fee. It literally, or virtually I suppose, costs 1/1000 of a Litecoin to process each transaction, regardless of the size of the transaction.
The start of 2021 has seen Litecoin off to an impressive start, reaching a greater price than its peak of 2020.
Ethereum
Launched later than the above two, in 2015, Ethereum is again open-sourced. It is blockchain-based and uses decentralized software for its cryptocurrency.
Ethereum enables Distributed Applications (Apps) and smart contracts to be constructed and run without there being any downtime, control, fraud, or third-party interference or censorship.
With Ethereum, it is exceptionally easy to set-up and complete transactions. This is because it provides its developers with comprehensive sets of tools that they can use to build its decentralized applications.
So, three user-friendly and totally investable forms of cryptocurrency to consider adding to your investment portfolio, today and in the future. Each one, similar in that it is a cryptocurrency and becoming more widely accepted.
All three easily tradeable on markets and easily obtainable from online providers who deal in cryptocurrencies.
In terms of comparing in more detail these different forms of currency, Bitcoin compared with Litecoin has greater support and broader adoption.
Litecoin, however, is faster, cheaper per coin, and still has value in investment terms. Both can be the alternative to investing in gold as something that can easily be converted back into cash or used as cash online.
Comparing Bitcoin with Ethereum, Bitcoin is the more stable and mainstream out of them both. Experts in the cryptocurrency field will tell you that Ethereum has grown only recently.
With all investments, the greater the risk, the higher return, and all three are worthy of further consideration in terms of adding them to your portfolio.
Long term, they all look set to do well as more and more retail businesses are moving from the high street to online to survive. With this comes a greater need for having an easy way to pay online.
Cryptocurrency is ideal for online purchasing and holding onto its proven investment potential.
