Crypto currencies in comparison: Which ones are worthwhile?
The trend of the last years shows clearly that crypto currencies developed as genuine alternative to the conventional financial plant, as you can read at this website. But the multiplicity of the different crypto currencies present on the market does not make the decision, which is the suitable crypto currency, surely always completely easy.
Here many willing investors may ask themselves, where and how one buys the crypto currencies at all. In addition many different crypto brokers and stock exchanges are available for selection. Bitcoins with PayPal buy is a particularly comfortable and simple way.
Which crypto currencies are worthwhile?
Anyone who would like to invest in crypto currencies will deal with this question in advance. After all, the market is huge, since there are now several thousand crypto currencies worldwide. Usually the differences are hardly recognizable for the layman.
What exactly is a crypto currency?
Crypto currencies are digital means of payment that are independent of states. Often the term currency causes confusion. Strictly speaking, it is not really a currency in the conventional sense. The big difference to all conventional currencies is that the crypto currency is not physically available.
However, it can be used to pay for purchases. The first crypto-currencies were launched in 2009 and over 4,500 crypto-currencies are now traded.
The Bitcoin, the founder of the crypto currency
January 3, 2009 was the birth of the crypto currency. On that day, Bitcoin founder Satoshi Nakamoto created the first 50 Bitcoins and the Genesis block. At that time, these coins had no value at all, as there were simply no buyers for the Bitcoin. But that changed clearly, because in the meantime their value is 400,000 dollars. Since the Bitcoin founder Satoshi Nakamoto is in the possession of millions Bitcoins, he is today long a billionaire.
In the meantime also the acceptance of the Bitcoins as means of payment improved clearly. Bitcoin is now accepted as a means of payment in over 6000 places. These acceptance points include stores as well as hotels and restaurants. In addition, there are another 100 places in Germany where customers can pay with Bitcoins. Here it is already clear that Bitcoin is establishing itself more and more as an actual means of payment.
The crypto currency has an unbeatable special feature, however, because it is not subject to state monitoring. Also the banks have no influence on the crypto currencies and their trade. And the crypto currency trumps with a further large advantage, because here calculations can be settled fast and above all without detours. Due to the decentralized organization and maximum anonymity, however, there are always illegal transactions that are carried out with Bitcoin.
The second largest crypto currency is the ether
Right after the Bitcoin, the Ether (ETH) is the second largest crypto currency. The market capitalization amounts here to approximately 19,826 million dollar. At the start the Ether went in the year 2015. With the Ether it concerns the internal currency of the system “Ethereum”. It is the pioneer in the field of Smart Contracts. If it is a matter of contractually agreed payments, these are made here completely automatically. Many industries are currently testing precisely this principle. The airlines are the first to do so.
This is particularly advantageous, for example, when flights are cancelled. Here, passengers are no longer forced to assert their claims for damages. If a flight is cancelled, a pre-determined amount is automatically paid out to those affected. This process comes into effect when the cancellation is registered in the database.
This procedure should lead to a relief for both the airlines and the insurance companies. Unlike Bitcoin, the Rather is not designed for daily payment transactions. Rather, the aim is to relieve the burden on companies and customers alike.
The banks’ favorite: Ripple
The Ripple has a great future ahead of it, as it is to replace the Swift system in the future. Up to now, payments between financial institutions have been processed via the Swift system. Various international banks are already working with the new currency. Within one second, it is possible to execute around 1500 transactions.
The crypto currency Ripple is especially interesting for investors who do not want to use the crypto currency for actual payment transactions. Above all it concerns here to invest into promising visions.
The small brother of the Bitcoin is called Bitcoin Cash
- On August 1, 2017, 8 years after big brother Bitcoin was born, Bitcoin Cash joined the crypto world. In this short time, Bitcoin Cash already has a huge success story. Half a year after its appearance, the stock market prices of Bitcoin Cash (BCH or BCC for short) climbed by more than 300 percent.
- Although this is “only” the little brother of the enormous Bitcoin, Bitcoin Cash can boast some advantages. This applies above all to the Blockchain technology. Here the technology is much better adapted to the mass use of digital currencies. Find out more about the latest blockchain trends at alertadigital.com/.
- For a long time, the information blocks of Bitcoin, which can be used to carry out transfer orders, were only one megabyte in size. In contrast, Bitcoin Cash started right away with information blocks of eight megabytes.