What if your money was completely independent and not connected to entities, like banks, the government, companies? Did your mind go far? Don't worry, this is why cryptocurrency exists! The introduction of cryptocurrency means peer-to-peer transaction without the influence of central authorities like banks, the government, etc. The decentralization of cryptocurrency is one major reason why people are interested in investing.
What is Cryptocurrency?
Cryptocurrency also known as digital currency, is a medium of exchange (just like ordinary money) that exists in the digital world and relies on encryption, which makes transactions secure. The technology behind it allows you to send it directly to others without going through a third party (central authorities).
The most famous cryptocurrency is Bitcoin (BTC), the mother of all cryptocurrencies. Bitcoin was created by a pseudonym called Satoshi Nakamoto. The white paper was made available and that was the beginning of digital currency. Besides Bitcoin, there are several other important cryptocurrencies called altcoins.
5 Most Successful And Trusted Cryptocurrencies To Invest Earn And Profits on Jubilee Ace
1. Bitcoin [BTC]
The first successful cryptocurrency in existence, founded in 2009. Bitcoin has a mysterious beginning but continues to retain value because of its expert encryption methods, which allow for time-scheduled generation process of new Bitcoins. Bitcoin can be exchanged for fiat currency, or a user can buy products and services online with it. Bitcoin celebrated its 10 years anniversary on January 3, 2019. Still ranking as number one on coinmarketcap and our list for long-term investment in 2019.
After Bitcoin, Ethereum is the second-largest cryptocurrency and one of the best long-term altcoins that are potent and promising. Started in 2013 by programmer Vitalik Buterin, Ethereum is a cryptocurrency generated by its own software platform called the Ethereum Virtual Machine. Ethereum recently split into two separate blockchains, Ethereum and Ethereum Classic. Many big blockchain companies are investing in Ethereum. It is a popular choice among enterprise clients as it can integrate smart contract protocols into its blockchain.
Litecoin is similar to Bitcoin, and is actually considered a spin-off. Popularly known as ‘Bitcoin-Lite,’ this cryptocurrency came on board in 2011. Litecoin is all set to become the next peer-to-peer payment facilitator. With the faster block-processing rate that keeps miners intrigued, this crypto coin has a more decentralized proof-of-work algorithm than Bitcoin. It has further implemented the SegWit (Segregated Witness) upgrade to its blockchain which helps to increase blockchain capacity while decreasing transaction settlement times and fees.
Ripple is not only a system but a network and a company that provides digital currency. Founded in 2012, it offers global financial transactions and also has a public ledger like other systems. It can also be mined. While there is a centralized Ripple company, the network can still operate without the company’s direct involvement, thereby creating decentralized cryptocurrency. Because of its transparency, some banks and companies use Ripple. It is becoming the hot choice for the go-to blockchain for banking and financial institutions.
Founded in 2014, Stellar's blockchain is its major selling point like Ethereum. With the integration of smart contract protocols, Stellar is in high demand not only by financial service companies but also by big corporations. After partnering with IBM and KlickEx, it has been scaling its blockchain to new regions. Many banks have deployed Stellar's blockchain technology to handle the multiple currency payments received from IBM's customers.
These are some Cryptocurrencies you should have in your portfolio because the ‘Bull Run’ is coming again soon.
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