Thinking to invest in Cryptocurrency and confused between the types? It’s common. You all may be aware of cryptocurrency hype that it is growing fast and the investors are increasing. These all depend upon the investor, the amount and safety he is willing to require from the investment. Everyone who looks out to grow financially will try to invest in some sought of a well-known sector.
You might have known Mr. Warren Buffet to become rich due to the investing. This man is known as a business magnate of America. It is due to his investment option and the tactics he followed. Thus as an investor, it is important to analyze or predict the profit in terms of time. The term time decides the calculation of your profit when it exactly applied through a perfect strategy. Thus I have listed down the cryptocurrency options to be viewed when the time is to invest.
Global payment Platform: Litecoin
In the year 2011, Litecoin was launched. It was followed by the reference as Bitcoin. Litecoin was created by Mr. Charlie Lee, a graduate from MIT University and also plays a job role in Google as an engineer. If you have noticed the Bitcoin and Litecoin, you might see some similarities between them but it also has some differences. The resultance of using the Litecoin is much faster than the Bitcoin, hence it approves that transaction will be faster.
Working with Litecoin is welcomed by many investors and developers without any hustle. It has been created through a decentralized, open-sourced global payment platform. It enhances the evidence as a term called scrypt to work. To decode the scrypt, you have to use the CPU based on consumer-grade.
Distributed Computing Platform: Ethereum
In the year 2015, Ethereum was launched and built on a platform that is completely based on decentralized. You can use the process of smart contracts when you require activating. It allows developing and executing the Distributed Applications (DApps). And the benefits are that, you won’t experience any kind of downtimes, scams, control or intrusion from unauthorized users.
This platform got hype in the year of 2014 due to its pre-sale. The platform has been designed using the open-source OS called Ethereum; it is a cryptographic based platform. Ether is act as a porter to launch the blockchain as an app and this called ether used to develop the platform based on the Ethereum.
The benefits of using ether are that it allows programming the code to be decentralized, secure and helps to trade too. Due to some fault experience by the data acquisition attack, it has been categorized into Ethereum (ETH) and Ethereum Classic (ETC). This platform is the second most popular crypto after the bitcoin, which is worth around worth $14.4 billion.
Digital Cash: Dash
The version to create a secure way to handle the cryptocurrency is Dash. It is termed as Darkcoin. Mr. Evan Duffield was the person who created it and launched in the year of 2014. This type of cryptocurrency becomes hugely popular among investors due to its features. In the year 2015, Dark coin renamed Dash.
Dash is also termed as Digital Cash. To control the digital cash, you can use GPU and CPU. The transaction using the Dash is an amazing way to stop the hack; it is due to the design of the code that has been designed in a complex way so that it is difficult to trace.
Less Consume Usage: Ripple
In the year 2011, Ripple was released. The worth for the Ripple market is around $1.26 billion. To use less expensive cryptocurrency, Ripple is the best choice. It is used globally for settlement purposes. The important feature for the Ripple is that you can transfer the digital currency across the country instantly and the charge to be Spend is less for transferring. The system is more transparent and not followed the mined technique as for bitcoins. Thus it seems to be an advantage. Due to its property, it consumes less power and reduces the dormancy of networks.
The Ripple organization has following a procedure to make its users happy by rewarding them with their behaviors. It is just a marketing way to promote Ripple. This factor increases the business deals. Ripple accompanies with the organization that shows interest in investment in its cryptocurrency.
Depends Upon Investors: Monero
In the year April 2014, Monero was launched. It has been won the heart of investors, in terms of cryptocurrency. It is completely processed by the investors as a community in means of donation. And it has been designed with a secure and private manner. Thus it is impossible to trace. The security level of this cryptocurrency is ensured by the signature of the users. The idea to create this service is to increase the scale to invest in the name of cryptocurrency.
Advanced Level of Bitcoin: Zcash
In the year 2016, Zcash has been introduced with features of decentralized and open-source cryptocurrency. Zcash is popular for privacy with a factor of transparency transactions.
It has been designed in a proactive way same as Https to ensure security level for all transaction which is published on the blockchain. The information of the sender, recipient, and amount is maintained as private. It uses the method to block the tracer with its feature of transaction method and allows encrypting using the cryptographic technique or zero-knowledge. The technique it follows is named as zk-SNARK. It is created by a team of Zcash.
Cryptocurrency is getting hotter topics among the investors, where Bitcoin is termed as an important point of the digital market. It completely deals with its features such as security, scale, profit level, and maintenance level. And currently, the cryptocurrency such as Ethereum and Ripple are mainly used for enterprise solutions. Before investing in cryptocurrency, it is a good idea to improve the knowledge of its types which will allow you to gain some profits. There are many top app development companies have started to serve as a consultant for the cryptocurrency. I hope the above content might help you to acknowledge the Cryptocurrencies.