The industry of cryptocurrency has been growing ever since it was introduced to the market in 2009. Economists predict that there will be a huge change in crypto as institutional money enters the market. They also predict that there is a high tendecncy that crypto will be over floating on the Nasdaq. When this happends, the blockchain industry will gain more credibility and it will further its uses as an alternative instrument to traditional currencies. Bitcoin was the first cyrptocurrency ever created. However, over years, new cryptocurrencies are being introduced to the market. Some of the most popular are Etherum, Ripple and Litecoin. As a new investor in the world of cryptocurrency, choosing the right tool can be quite daunting and challenging. With a lot of options available, it would be really hard for a beginner to choose the right cryptocurrency. So to help you out, this article will provide you with some facts and information about Bitcoin, Etherum, Litecoin and Ripple to allow you to choose the best investment.
Bitcoin, since it was the first cryptocurrency was considered as globally recognized cryptocurrency. Over the years, its demand has been increasing by different cryptocurrency enthusiasts. However, despite its popularity and established reputation, there are some disadvantages of using this platform. First of those is that it is quite expensive. It also takes a long period of time before you acquire it. It doesn’t have the ability to handle several situations so it is generally nowhere near as liquid as it has to be.
Ripple is described and considered as dark horse because of its framework. So when we talk about Ripple, it is not just about the cryptocurrency per se. We also have to touch the view that the currency fluctuations in flight must be eliminated or minimized. According to experts, when a cryptocurrenycy like Ripple is going to take off, the main goal must always be removing volatility while a transaction is taking place. Ripple is prevalent in some parts of Asia. However, it is not yet prevalent in the United States.
Another popular cryptocurrency in thie Bitcoin Era is Ethereum. This is considered as the obvious middle of the road bet and also the safest choice when it comes to BITC. Unlike Bitcoin, Ethereum is relatively cheap and a lot of businesses are considering it as standardized process. Moreover, its brand reputation and popularity is growing over the years. It is expected to grow even further in the coming future. However, some of the crypto enthusiasts believe that this cryptocurrency still needs improvement when it comes to accessibility and convertibility.
On the other hand, Litecoin is considered as a distant forth option and irrelevant. This is because other cryptocurencies are on the peak of their success. This is also the reason why experts would not suggest Litecoin for beginners in the cryptocurrency world.
With these facts and information about some of the popular and commonly used cryptocurrency in the digital market, you will be able to determine what is the best among them. However, it is still advisable to conduct your own research, be observant and come up with the best and effective strategies that would help you grow your money in cryptocurrency.