Cryptocurrency or digital currency is one the most powerful currency in today’s world. It is new but it’s globally recognized, it is independent of geography i.e. it can be used anywhere in the world. There are more than 3000 cryptocurrencies and none of them are equal in value i.e. each of them has it’s own worth. Few of them are created for fun and few of them are part of a bigger plan. Some of them are worth less while some are worth as much as the value assigned to it by a mass audience. They are highly volatile like stocks and their worth keeps on fluctuating on a regular basis. In this article, we are going to review some of the best cryptocurrencies in the world. Some of the most in demand cryptocurrencies are mentioned as follows:
Bitcoin is the cryptocurrency that started it all, this is the best cryptocurrency there is to date. Originally it was created in 2009 by a programmer or a group of programmers known by the name of Satoshi Nakamoto. Bitcoin has the biggest market cap of up to $33 billion overshadowing all other cryptocurrency. Unlike any other money created by governments, which can be inflated as per the governments will, bitcoins are mathematically limited to 21 million and it can’t be extended.
Earning of Bitcoin is easy and you can earn them using various ways. One can earn them by completing different tasks and by mining them. There are different hardware devices that can be used for mining purposes. Using and spending Bitcoin is also easy, first find a vendor who accepts Bitcoins as it is still a new currency so there might be very few vendors who are willing to accept this cryptocurrency. Just like actual currency it is stored in a wallet there is also a wallet for the bitcoins known as the bitcoin wallet. It is an online wallet which stores your bitcoins.
Litecoin is a peer-to peer internet currency. It is an open source, global payment network that is fully decentralized and not controlled by any centralized government. Their network is secured by a strong mathematical algorithm and Allowing users to control their own finances/debts. Few of the litecoin feature include faster transaction confirmation and efficient storage than any other leading cryptocurrency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complimentary to Bitcoin.
Monero (XMR) is a cryptocurrency that focuses on privacy, decentralization and scalability. Monero was created in April 2014, and that’s the reason it is not as valuable as other currencies. It is based on cryptonote protocol and follows a different algorithmic pattern than other cryptocurrencies. It can’t be hacked and due to distributed consensus.By taking advantage of ring signatures, they make it ambiguous which funds have been spent, and thus extremely unlikely that a transaction could be linked to a particular user.