Cryptocurrency is a type of digital currency , the creation and control of which is based on cryptographic methods. A key feature of cryptocurrencies is the absence of any internal or external administrator. Therefore, banks, tax, judicial and other public or private authorities cannot influence the transactions of any participants in the payment system. The transfer of cryptocurrencies using the blockchain method is irreversible - no one can cancel, block, challenge or forcibly (without a private key ) complete a transaction. On the one hand, this approach makes it possible to receive, exchange, sell digital currency almost anonymously, without the participation of traditional banking structures, which reduces the cost and time of a single transaction. In this case, the guarantor of the transfer is the users themselves, signing each transaction with a private key, that is, the larger the chain (block), the more reliable the entire transaction route. Different cryptocurrencies can be issued through mining , forging, or ICO .
List of cryptocurrencies:
The first cryptocurrency on the planet. More and more online stores and companies accept BTC as payment for goods and services. This money is used to buy air tickets, cars, book rooms in hotels.
The Ethereum cryptocurrency occupies the second line of the pedestal of our rating. Ether appeared in 2015, thanks to the Canadian-Russian programmer Vitaly Buterin, and almost immediately after the launch it began to grow steadily in value, largely due to the use of smart contracts technology. Now ether has turned into a crypto-platform and has significant prospects in the future to squeeze Bitcoin.
Litecoin is the first altcoin (alternative to Bitcoin), which appeared in 2011. Its developers tried to overcome a number of problems inherent in BTK (for example, Litecoin has a higher transaction speed). For an investor, the main value of Litecoin is a much lower cost compared to its "big brother", which makes it possible to enter the market at lower costs.
Created in 2014 based on the CryptoNote protocol, focused on increased transaction anonymity. Therefore, at the moment Monero is considered one of the safest cryptocurrencies. In terms of capitalization, Monero is confidently in the TOP-10.
Also born in 2014. Its creators focused on enhancing anonymity and using a double encryption system, which had a positive effect on reducing the cost of "mining" - mining this cryptocurrency.
Last on the list, but not in terms of potential, is a cryptocurrency called Ripple. Over time, the developers of new altcoins tried to move away from the technology of the "father of cryptocurrencies" - Bitcoin. The greatest independence from Bitcoin is seen in Ripple , which is effectively a centralized system.
The creators of Ripple consider this cryptocurrency not as an alternative to bank transfers, but as an alternative to SWIFT banking technology. A test period is underway for the introduction of this technology into the banking sector. If successful, Ripple's growth prospects will be able to take it to the first or second place among cryptocurrencies in the next few years.
Up-to-date cryptocurrency analytics:
Cryptocurrency rates for today:
Having dealt with the main types of cryptocurrencies, we move on to the issue of exchanging, buying / selling existing coins for fiat money, goods, services, and more. There are 2 main options for this:
I. Use of cryptocurrency exchanges.
Below are the TOP-3 cryptocurrency exchanges for 2019:
One of the most popular cryptocurrency exchanges for the Russian segment of users. EXMO provides everyone with access to cryptocurrency transactions 24/7. Intuitive interface, convenient functionality, always available support service. More than a quarter of a million users, all popular cryptocurrencies are available.
An old-timer of the cryptocurrency exchange market. Founded in 2011, located in San Francisco, California.
More than 50 currency pairs are traded on the exchange. Commissions depend on the volume of transactions and the time spent by the user on the exchange.
A young but rapidly developing site. Established in 2014, it supports 100 currency pairs to exchange. Almost every known cryptocurrency on the planet is represented here, including even those less than a year old. The interface is English, but the basic principles of work are intuitive.
II. If you do not plan to carry out conversion operations with cryptocurrency on an ongoing basis, but want to buy and sell electronic coins on a one-time basis, welcome to crypto exchangers!
Here is a list of TOP 5 crypto exchangers:
1) 60cek: https://60cek.org/
2) WW-pay: https://ww-pay.com/
3) Advanced Cash: https://advcash.com/
4) 365cash: https://365cash.co
5) Blue.cash: https://blue.cash/
If your main goal is to make money on fluctuations in cryptocurrency rates, then it is advisable to use brokerage companies.
The most famous of them (both are over 20 years old):
1) ALPARI website of ALPARI company
2) FOREXCLUB website of FOREXCLUB
Whichever method you choose, remember - cryptocurrency trading is a very aggressive tool and it is important to correctly calculate the volume of transactions and determine the actual points of entry and exit from transactions.
You can find out more about your personal experience of acquiring RIPPLE cryptocurrency and the peculiarities of trading with these instruments by looking at our VK group: https://vk.com/spb_finance , or contact us on the "Contacts" page.
And at the end I would like to quote a famous American financier Jason Zweig:
"When greed or fear reigns in the market, people start thinking the same way. Therefore, very often many people buy at the top of the market and sell at the bottom."
Remember this - don't let your emotions take over your mind and strategy!