The Cryptocurrency market is booming and the top 3 cryptocurrencies (Bitcoin, Ethereum and Litecoin) are in a tight race. How can you decide where to invest? Which currency is more likely to increase in value? We look at the pros and cons of each currency to help you make your decision.
Litecoin: The Silver to Bitcoin’s Gold
Litecoin, launched in 2011, was among the first cryptocurrencies to follow in the footsteps of Bitcoin and has often been referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, an MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin. As of January 2016, Litecoin had a market cap of $181 million.
Ethereum: The Next Big Thing?
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was
If you are thinking about investing in cryptocurrency and want to know, “Should I invest in Bitcoin, Litecoin, or Ethereum?” you have come to the right place.
The cryptocurrency market has become a battlefield for experts and speculators who argue which cryptocurrency is going to be the next best thing. On one hand, we have Bitcoin which has been around for almost 10 years now. On the other hand, we have newer cryptocurrencies like Ethereum and Ripple that are promising better returns than Bitcoin.
In this article, we will look at how these three cryptocurrencies stack up against each other and try to figure out which one of them is the best investment option. We will also try to answer questions like: “What is Bitcoin?” “What is Ethereum?” “What is Ripple?” and many more! So let’s get started…
As of right now, there are a total of 15.4 million bitcoins that have been mined and the market cap for the leading digital currency is $19.45 billion.
The Ethereum network has a total market cap of $28 billion and there are roughly 94 million coins in circulation. The rise in popularity and value of both Bitcoin and Ethereum have led to many investors trying to figure out which coin is the best investment.
Bitcoin vs Ethereum vs Litecoin
Bitcoin: 40% of the total cryptocurrency market is dominated by Bitcoin, which is trading at $6,941 as of this writing. The digital currency has lost over $3,000 in value in less than two weeks after reaching an all-time high of $7,888 on October 13th. As a result, Bitcoin has fallen to 57% dominance over the overall cryptocurrency market cap and its value could continue to drop if its price falls below key support levels and fails to hold them as support.
Ethereum: Ethereum currently makes up 35% of the cryptocurrency market, with a total market cap at roughly $28 billion dollars. The digital currency’s price is currently hovering around $300 after hitting an all-time high of over $400 earlier in the year. If Ethereum breaks above $400 again
Bitcoin, the largest cryptocurrency by market cap, has been around for over 7 years and is currently trading at an all-time high of more than $4,000. Some say that Bitcoin is a bubble, but we don’t think so. Instead, we think that it’s just getting started – although its price will likely fluctuate wildly in both directions.
The current market cap of Bitcoin is about $70 billion, which is still quite small compared to major fiat currencies like the US dollar and the euro (which are in the $12 trillion range), but also relative to gold ($8 trillion).
Since the introduction of Bitcoin in 2009, thousands of new crypto projects have been launched. And while most of them failed to make an impact on the market, some have become very valuable – today, there are more than 800 cryptocurrencies with a market cap of more than $1 million.
Recently there has been a surge in investor interest towards cryptocurrencies. In fact, some people have already made millions by trading these tokens. While many experts see this as a bubble that will burst sooner or later, we beg to differ: We think that this is just the beginning of something big – and we want to help you get in early!
First, I would like to thank the creator of Bitcoin for creating such masterpiece. For those who are not familiar with Bitcoin, the creator is Satoshi Nakamoto.
I am writing this blog post to guide people who want to know more about cryptocurrencies like Bitcoin, Litecoin or Ethereum.
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Whilst Bitcoin, Ethereum, and Litecoin have all been in the news recently and their value has gone up dramatically, you may be left wondering what is the difference between them?
To give a simple explanation for everyone who doesn’t live in the blockchain space, cryptocurrencies are digital or virtual currencies which use encryption techniques to control the creation of units of currency.
This, in turn, means that there is no government or central authority controlling it. It also means that every transaction is transparent and recorded on a public ledger, called a blockchain.
Bitcoin was first released on January 9, 2009 by Satoshi Nakamoto (an anonymous person/entity) and it is still the most popular cryptocurrency today. But why should you be investing in these alternatives to fiat currency?
Well if you believe the hype there are several reasons:
1) Decentralization – No one controls it; no banks, governments or even Satoshi Nakamoto!
2) Anonymity – No personal details required to open an account.
3) Security – The funds are locked in a public key cryptography system only accessible by its owner.
4) Limited supply – Only 21 million bitcoins can ever be produced meaning there will always be scarcity.
5) Transparency – They operate as a public