Money is so important in your everyday life. Without money, you cannot really do anything and it is so important to understand it, save it, and use it for good throughout your life. People are consistently looking for ways to use their money to make it grow and invest in different currencies. This is why people are looking into what cryptocurrency is and how to use it. They want the ability to find a currency that they can use anywhere in the world and that is going to grow in value. This is why today we are going to look at cryptocurrency and compare some of the biggest ones.
Cryptocurrency Comparison: Understanding cryptocurrency
We won’t lie to you; fully grasping and understand cryptocurrency can be very difficult at first. It is sometimes hard to put your mind around something that isn’t really there. It is not like money where you go to the bank and take it out; it is all virtual, and therefore it can be confusing to a lot of people. This is why we wanted to make this guide today to help you discover this fascinating world that so many people are interested in, as it may as well take over the way we view and spend money in the years to come.
Where did it come from?
Cryptocurrency has not been around for a long time. The first form of it came in 2009 with the invention of Bitcoin. The currency Bitcoin goes hand in hand with cryptocurrency as it was the first and is still the biggest out of all of them right now. When we say all of them, we mean all of them. This is a market that took off after Bitcoin, and currently there are hundreds of cryptocurrencies on the market right now.
With so many out there it can be hard to know which one to use. It is also sad to say that there are so many, almost all of them, that are complete scams that are worthless. This makes people lose a lot of money and it can be awful if you go through this experience.
We have created a list that is going to compare those cryptocurrencies that are legitimate. We recommend not deviating from this list much, because we do not want you to get caught in a scam. If you are using your money to invest in a cryptocurrency, you want to make sure you are getting the best one out there, a currency that is actually going to be worth something in the future.
By listing all of these cryptocurrencies, we are going to be comparing them as we go. The first two we wanted to look at are Bitcoin and Bitcoin cash. Bitcoin is the original cryptocurrency, as we mentioned before, and also the largest one. It was created using a blockchain, which is a continuously growing list of records, called blocks, which are linked and secured using cryptography, for this currency. It has the most money and is probably the one that is still going to grow the most. If you are a beginner, we recommend looking to using Bitcoin just because it is straightforward and easy. Bitcoin Cash was launched in 2017, and is another coin (called Altcoin) which was based completely on the block chain first developed by Bitcoin, but they have increased the size limit to 8MB.
Another of the most common types of cryptocurrency is the Namecoin. It was built several years after Bitcoin and it was the first real altcoin out on the market. It is still working out several kinks that it has.
Ethereum is one of the biggest up-and-coming cryptocurrencies on the market right now. It is the source of the ICO bubble and is one of the biggest ones these days. Litecoin is another one on the market right now that you should look into.
It is very difficult to actually compare all of the cryptocurrencies because they are so vastly different from one another, but there is one that outshines the rest: Bitcoin. We recommend looking into all those we mentioned so you can find which one is going to be the best for you! Avoid the scammers and put your money into a reliable cryptocurrency.