There’s a lot more to cryptocurrencies than you might initially think; it’s a digital storm that can drown anyone with a tinge of innovation (and making money fast).
The minute you understand how to trade cryptocurrency, it will be helpful for you to install an alert for cryptocurrency that keeps informing you of the developments regarding your currency of choice. And yes, you have a choice to choose from among a variety of different currencies which hold a lot of potentials, but operate very differently!
1. Bitcoin
Despite the argument that the upcoming technologies boast supreme technology, there is no denying that the 40% market cap owned by Bitcoin speaks volumes for its success. Today the currency is fluctuating around USD 6000 from USD 20000 just months earlier, and though this fall is not positive the fluctuation upwards can be really inspiring.
Like any other valuable held, the behavior of Bitcoin can be determined by market supply and demand to some extent, and with more people being attracted to it you should expect it to reach new heights in the near future.
2. Ethereum
This is one currency which perhaps challenges the Bitcoin considerably because of the advanced smart contract technology that it boasts. With the use of this technology, it is able to bypass all middle-men and allow companies to interact and make payments in installments, variations through milestones etc.
Ethereum is also starting to get affiliated with major players in the world including IBM and Microsoft simply because the technology is a revolutionizing one, making it the most probably currency to overthrow the reign of Bitcoin.
3. Ripple
How to trade cryptocurrency efficiently when you might be missing out on the next big thing? Just recently, Ripple overtook Ethereum as the second biggest digital currency in terms of its share in the market, despite the latter’s superior technology.
The risk associated with this currency is a lot less because it is fresher in the markets, not completely decentralized (meaning that some banks in the world also accept and trade in it), and is not as expensive as its predecessors (around USD 3 mainly).
4. Litecoin
With a market cap of USD 16 billion, it comes as no surprise that Litecoin finds a place on our list. In 2011, Google Development attempted to make a better alternative for Bitcoin, and the result was Lite, a “lighter” and easier Bitcoin.
One might question why it is still hitting the USD 300 mark while Bitcoin is soaring the skies of thousands, but Litecoin is one of the easiest cryptocurrencies to hold for peer to peer payment. It is relatively more stable as well.
5. Stellar
This is a stellar blockchain network (quite literally) because it uses Lumen as the currency it exchanges, and it still trades in USD 0.75. It is famous because the idea is fresh and it operates on a blockchain network more advanced compared to Ripple.
With a market capitalization of USD 13 billion under its head, Stellar can move on to become a major player in the market for digital currency later on!
