Bitcoin, the name that started it all
While still the most popular cryptocurrency out there, check out a few of the other popular cryptocurrencies that have hit the market.
Of course we’ve all heard of Bitcoin- the cryptocurrency system developed by a supposed group of software engineers who go by the name of Satoshi Nakamoto- that took the world by storm in 2009. The idea was to create a decentralized means of exchange that, while anonymous, is also secure and verifiable.
While bitcoin trading is still considered the entry into trading cryptocurrency, and was once synonymous with cryptocurrency trading, it is now just one of countless cryptocurrencies out there. It may seem daunting, but each one has unique properties and applications to fit your lifestyle. Here are just a few other cryptocurrencies on the market to watch out for.
Unlike Bitcoin’s mystery creator, the creator of Litecoin Charlie Lee is well-known. Like the name might imply, Lee sought to create a “lighter” bitcoin, one that can be used more easily for cheaper, day-to-day transactions. It uses a mining process similar to bitcoin, but faster and with less processing power. This allows for faster transactions, lower fees, and a more stable value.
While bitcoin offers one application of blockchain technology, a cash system and allows peer to peer online payments that are tracked using the blockchain, Ethereum is essentially a world wide supercomputer. With bitcoin you purchase bitcoin tokens, but investing in Ethereum (Ether) is essentially buying rights to computation time on that supercomputer and hoping it will appreciate much in the same way bitcoin did.
With Monero, privacy is the name of the game. They use specific signatures that you can’t opt out of both on the sending and receiving sides of every transaction, which not only increases security, it also makes any previous transactions with that specific currency untraceable. Want something secure, private and anonymous in your wallet? Then this is the cryptocurrency for you.
As a takeaway, it’s important to note that with the world of cryptocurrencies, nothing is stagnant for long. With BXB exchange’s easy to use trading platform, fast, simple cryptocurrency trading has never been more accessible- it’s not just some mysterious
opportunity limited to corporations and tech gods! So keep your eyes peeled and your ear to the ground- you never know what the next great cryptocurrency boom will be.