Cryptocurrency, better known as digital currency or virtual currency is the currency of the modern generation. It is completely virtual and has no physical appearance and can easily be used in regular day-to-day transactions. Although it not so commonly accepted as a medium of exchange all over the world, it is getting more popular rapidly, and in some parts of the world, it is widely accepted as a medium of exchange. Unlike the standard local currencies, it doesn’t have any authority or institution controlling it as it is a manager by its users only.
There is a wide variety of digital currencies available in the market, and each one of them has different features and rates in the market, but it all started with the most popular digital currency; bitcoin. Bitcoin is the first-ever digital currency introduced in the market, and after its launch, it attracted a lot of investors, and soon, its rate was touching the sky. The great success of bitcoin motivated others too, which made a lot of different digital currencies to surface in the market. If you are involved in cryptocurrency dealing, then you must visit the immediate edge, and to get assures, you can check the immediate edge review and get a clearer idea.
Different types of digital currencies available in the market
When we talk about digital currencies, bitcoin is the first name that clicks in our mind. It won’t be wrong to say that bitcoin is the face of digital currencies as t is the first-ever digital currency introduced and made way for other digital currencies to come. There are various advantages of bitcoin that makes it one of the best options to invest your money into.
Benefits of buying bitcoin
Mining is the process of creating coins such as bitcoins, and according to the data and calculation, there are only around 21 million bitcoins that can be mined, and out of them, about 80% has been already mined. It means that there are only limited bitcoins left that can be mined and bought, which makes the supply of bitcoins low, and its demand in the market is already high, which will compel the buyers to pay high prices to buy bitcoins in future. It is highly beneficial to invest in bitcoin as its price is expected to touch the sky in the future.
One of the significant problems that people face with digital currencies is their liquidity, as they are not highly liquid and cannot be easily converted into cash. But if we talk about bitcoin, things are not the same, and bitcoin is highly popular all over the globe and is immensely easy to convert in cash whenever you want to. You can get it converted in any fiat currencies as it is commonly accepted.
The first digital currency
Bitcoin is the first-ever digital currency introduced in the market, which makes it the eldest and also the biggest cryptocurrency in the market. It makes it beneficial to invest in bitcoin as the chances of making a good profit is a lot higher.
Ripple is another highly popular and rapidly growing digital currency which is also based on the blockchain technology. It is mainly used by banks and other financial institutions to carry their transactions at a fast pace and complete them quickly. Many banks have their bind ups with ripple and using it in their day to day transactions. Some reasons made ripple appear in this list, and these reasons make it better than other digital currencies in the market.
Benefits of ripple
Trusted by banks
The home to all the currency and money; banks trust ripple and use it in their daily transactions. It is a sign that ripple is a highly secure and trusted digital currency. You need not worry about its acceptance as most of the prime financial institutions use it in their dealings, which make it more powerful currency and safe to invest in. It also increases the chances for ripple to get successful in the future, so you must invest in it if you want to make some good money.
Ethereum is another cryptocurrency, but unlike other digital currencies, it helps people to create tokens and contracts by using its own currency, which is commonly termed as ether. Smart contracts have opened up various opportunities for the future, and ethereum has played an immensely important role in it. Before investing in it, you must learn more about its benefits and drawbacks.
Reasons to invest in ethereum
It is the cryptocurrency of future
Ethereum is getting popular at a burgeoning pace, and most of the future modern projects involve ethereum and its use. It makes it a productive currency to invest in as it has a vast scope in the future and can easily help you to make a considerable amount of profits. Some of these projects are built on a large scale, which expands the scope of ethereum even more.
Digital things are all about speed and efficiency, and ethereum offers great speed and completes the transaction in a flash of seconds. It saves a lot of time and doesn’t take days or weeks to complete a transaction.
It is one of the most unheard but efficient digital currency which offers excellent security and is completely untraceable. It was launched a bit late but soon after the launch gained great popularity and success. It requires a lot of funds to develop a digital currency, but monero uses donations from people and the community for the development. It has a unique feature termed as the ring signature, which ensures the safety of transactions and makes it safer as compared to other digital currencies. If you are more concerned about your privacy, then it is the best digital currency to invest your money. The level of security and privacy of monero can be understood by the fact that it used in some of the criminal operations around the world where security and privacy is the most critical and sensitive thing.