The rising popularity of cryptocurrencies over the past years have sped up their creation and growth. New traders and investors may easily be confused by the sheer number of currencies available. This guide aims to help you invest in some of the best digital currencies available.
You’ve probably heard of Bitcoin before hearing the terms cryptocurrency or blockchain. Bitcoin is the largest and most popular cryptocurrency, both by market capitalization and by transaction volume. Most industry analysts agree that if you are only going to invest in one cryptocurrency, then Bitcoin should be the one you choose.
As with any digital currencies, Bitcoin has been a successful investment for some and a loss to others. It is always important to learn how to invest in Bitcoin before you start using real money. You can easily buy and sell Bitcoin on the majority of exchanges, including Coinmama and Changelly.
Advocates for Ethereum describe the coin as being the brains behind the entire blockchain technology. Bitcoin is the flashy member of the family, whilst Ethereum is the more stable, responsible currency. In fact, many blockchain companies are investing in this currency.
Ethereum places second in terms of market capitalization and, like Bitcoin, is available in major exchanges, including EXMO and BitMEX.
As the third largest cryptocurrency with a market cap of over $12B, XRP is a favourite amongst many crypto traders. Preferred by banks and financial institutions looking to invest in cryptocurrencies and blockchain technologies, XRP, or Ripple, is an important bridge between tradition and innovation.
Ripple is a significant cryptocurrency and, as such, is available to trade in the majority of exchanges. You will also need a place to store the currency safely when not using it. Fortunately, wallets such as Ledger Nano X and CoolWallet S accept XRP.
Litecoin is a preferred coin for long term investment. With a market cap reaching beyond $3B LTC is expected to become the world’s favourite shared payment facilitator. The digital coin has a preferred proof-of-work algorithm which is more decentralized than Bitcoin’s, allowing miners to earn it quicker.
KeepKey and Trezor are just some of the hardware wallets which accept Litecoin. You can also choose to store the currency in web or mobile wallets if you prefer. The currency is also traded across major exchanges, so you can easily buy and sell Litecoin.
As its name suggests, Binance Coin is the cryptocurrency released by the world’s largest exchange platform, Binance. Binance Coin allows investors to gain from increased trading volumes, but also from transaction fees. The coin is seen as a promising eventual competitor to Bitcoin itself since it is backed by what is considered to be the best cryptocurrency enterprise today.
The Ledger Nano S and Trezor are just two wallets which allow you to store your Binance Coin securely. It’s rising popularity and potential make it a certain contender for top cryptocurrency for 2019.
LocalBitcoins is a cryptocurrency exchange with a difference. Based in Helsinki, Finland, the startup provides a platform for peer-to-peer Bitcoin trading. Registered users can use LocalBitcoins to advertise, buy, and sell Bitcoins, without having to use a conventional CEX exchange. With LocalBitcoins, it is the individual sellers who set the conditions. For this, and several […]
While Bitcoin and the cryptocurrency industry, in general, are making massive strides to become mainstream facilitators of payments and other services, they are still illegal in several countries. As the world and its institutions become more aware of the potential benefits of the technology, more countries are lowering regulatory barriers, however a number still outright […]
It is difficult to think of any industry where criminals do not operate in, especially one related to currency. Always on the lookout for the next vulnerable spot, pirate hackers are groups or individuals which specifically target crypto users and exchanges to try and steal their digital funds. They do this by hijacking user data […]
With so much attention on the rising price of Bitcoin and the new, overnight millionaires in the industry, it could be easy to overlook the important topic of taxes. Although blockchain’s decentralisation and anonymity might make you feel as though you can evade paying taxes, the law in various countries is extremely clear on the […]
Cryptocurrency exchanges oversee the trading and sometimes the valuing of cryptocurrencies, and form an integral part of the industry. There are various types of exchanges, with some being centralised and others decentralised, but their role is almost always the same. The difference lies in the way that transactions are carried out. What is the Exact […]
Cryptocurrency exchanges play a fundamental role in the digital currency ecosystem. They provide the main transition point between fiat and virtual currencies whilst also managing the prices of individual tokens and coins. However, no matter their importance, the work made by cryptocurrency exchanges is often overlooked or misunderstood. This guide should help you better understand […]
Cryptocurrency mining is, in simple terms, a way to use computers to create new digital coins. These coins can be stored safely in crypto wallets, spent in exchange of goods, or exchanged for fiat or other currencies. In the case of the latter, an account with an exchange, such as CEX or Indacoin, is required. […]
A crypto mining rig is a computer system which can be used to mine Bitcoins and Altcoins. Whilst the rig may be specifically built to be a miner, it is common to find home computers which are adapted to this new purpose. It is also possible to have a mining rig which only mines crypto […]