Over the last few years, cryptocurrency has become very popular for people’s long-term investments. Ever since the boom of Bitcoin, more and more people have ventured into cryptocurrency, and with it being made easier to invest in by certain platforms, it has never been easier to invest in cryptocurrency. Platforms like crypto scalping terminal BitTrade have made exchanges easier to use in one place and invest without having to jump through hoops like you would have to previously.
One of the peculiar things about investing in cryptocurrencies is that you not necessarily do it by opening a broker’s account as if you were buying stocks and bonds; you do it by downloading an app that most people call a crypto wallet. Once you have this wallet, you get cryptocurrency in it peer-to-peer, which means that you buy a cryptocurrency from another individual and that cryptocurrency is deposited in your crypto wallet. It’s almost like sending money via Venmo or PayPal. As you can imagine there are many crypto wallets. Here is a list of the beste Krypto Wallet App.
Which cryptocurrencies are the most popular?
If you are looking to venture into cryptocurrency investing and trading then here are three popular cryptocurrencies you can start out with.
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1. Bitcoin
Bitcoin will allow you to exchange your money and complete transactions in different ways than you would normally. It is a peer-to-peer technology that is operated without banks and has no central authority; when managing transactions and issuing any bitcoin, this is carried out by the network. Bitcoin is one of the more popular traded cryptocurrency. It is also the most expensive at the time of writing. It currently sits at $14,068, this is by far the most expensive crypto, but like any investment, it is also highly volatile and can drop at any time, so making sure you research it fully is very important.
Bitcoin is currently still in development, but there are a number of merchants and services that are allowing Bitcoin for payments. If you want to pay with Bitcoin, you will need to download a wallet for your Bitcoin; this can be done on the PC for online transactions or on your phone if you are using it in a shop or Bitcoin ATM.
2. Ethereum
Ethereum would be classed as the second most popular crypto out there behind Bitcoin. At the time of writing, it currently sits at $403, which is a lot less than Bitcoin but is the second most expensive crypto. Ethereum lets you send crypto to someone for a small fee, but it also is the power behind applications also that everyone has access to but are not able to be taken down by anyone.
Ethereum uses smart contracts to program apps that are able to create store registries, direct transactions, create markets, and plenty of other things. At this time, the full aspect of what Ethereum is capable of is unknown, but it is doing a lot already.
3. Ripple
Unlike Ethereum, Ripple has been in development before the introduction of cryptocurrencies; it wasn’t until 2013 when it started linking to Bitcoin as Opencoin. Ripple’s open-source software is pro-government regulation, able to send payments to Bitcoin addresses, and also is free to use. Ripple is a lot cheaper in comparison to the other two and at the time of writing is $0.23, so it is dramatically cheaper but is being monitors closer in case it does take off as bitcoin and Ethereum did.
If you are looking to invest in Cryptocurrency, then hopefully, this information on the three tops cryptocurrencies will give you an idea of what you are investing in and the sort of costs you are looking at.