A lot of novice traders word “cryptocurrency” is related to the knowledge of the most popular of them as BitCoin. However, experienced market players will tell you that the scope of the sale and purchase of electronic currency are much more wider than you can imagine. Over the past 5 years the segment of cryptocurrency operations increased in multiple terms, where BitCoin is just one of many means of payment for services. Analytical Team of Trade- 24 company decided to make a small overview of the most popular e-currencies and how they are best fpr use. The basis of the criterion had been taken after the electronic means of payment for the cost (at the time of writing material), impact on the market and easy to use.
What are cryptocurrency and why are they valuable?
In the information age, the emergence of electronic money raised an influential role on the international markets. Due to the shortage of real settlement of funds in real time, the appearance of this type of exchange allows not only to carry out the purchase, sale, make an exchange, but also to obtain a guarantee of protection of their transactions on the monitoring by regulatory authorities.
The first revolutionary achievement was BitCoin (BTC), which had began its active game on the market since 2010. This cryptocurrency became the foundation for the emerging world of digital currencies. Since BitCoin often called “electronic gold,” it has always supported the price and specific features, including the limitation of the emission and the complexity of its production.
In itself, the production cryptocurrency was started back in 2009, but the process is a complicated calculation process is followed by encryption and the creation of an electronic key. It is also need to add that financial transactions with Bitcoin transmission is performed directly between the parties to the transaction and is decentralized, that is carried out without the participation of the general server. On this basis, the turnover on the world markets of digital money can not be controlled by the state authorities or any other organizations.
Now the maximum limit of the total number of coins will be 21 million units by 2040. At the end of 2016 , it was “produced” only 12 million, which were originally distributed among all participants whose computers have been involved in working with BitCoin. Now the profitability cryptocurrency largely argued the cost of the same coin, the cost at the same time steadily increasing.
Litecoin (LTC). Current cost is about $3.5
Another successful project in the field of digital currency becomes the Litecoin. In technical terms, this is an improved copy BitCoin with minimal cosmetic changes. The purpose of creation was the desire to provide a certain alternative in the form of “electronic silver”, as well as to create a market of electronic money in addition to Bitcoin, which is associated with the “e-gold”.
Litecoin emissions increased to amount to 84 million, and the rate of production of coins of up is 25 pieces per minute. In addition there are obvious changes and some internal. It changed the process of settlement. Now in this cryptocurrency can no longer get the greatest return on the holders in excess of the productive systems. Thus, all users are in fact opportunities and transaction time reduced fourfold.
Peercoin (PPC). Current cost is about $7
Another pioneer in the engineering of electronic money is Peercoin, which is second only to Litecoin in popularity. As a copy of the testator, or other currencies, it has one key difference from its predecessors – it has no restrictions on emissions. To adjust the rate and volume of put inflation at a rate of 1% per year.
Attracting new members are intended to profitable new approach, according to which all the proceeds are distributed not only among those who provided the computing platform, but also among the owners. Thus, it is aimed at attracting real money and, as the facts show, much better work. Peercoin capitalization stants of $ 135 million within sixteen months after the start.
Freicoin (FRC). The present value is $ 0.7
One of the few cryptocurrency, which is based as opposed to Litecoin, is the idea of not only the creation and circulation of funds, but also to solve some global problems. One of the features of the modern world currency system is the excessive accumulation without constant reinvestment and launch into circulation, that would be raised volatility and profitability. That’s why the creators of Freicoin decided to introduce a simple tax of 5%, which will be charged at the time of the transaction.
The second point, which affects the popularity of the currency, is a revenue-sharing scheme. According to the established order, 80% of the income is transferred to the foundations, and the remaining 20% is divided among users who are engaged in mining of cryptocurrency. This can not boast of any Litecoin, nor even Bitcoin, as the idea of charity has pleased many users.
Worldcoin (WDC). Current cost is about $0.5
In addition to the sonorous name, which means “WorldCoin”, this cryptocurrency stands out the best rate of confirmation of transactions. In the absence of special programs for public relations and promotion of the system, Worldcoin popularity ensured to a greater extent by this argument. Transfer of funds between the owners can be realized in 30 seconds, which is ten times faster than the original founder of digital currency – Bitcoin and five times faster than Litecoin. Thanking best to the technical realization and increase the popularity of this background, market capitalization increased to $20 million raising costs in the short term to 7500%. Also curbing inflationary pace using the speed and Compensation Commission allow the currency securely stored in many banks and services.
What is the destiny of electronic currencies on the markets?
Traders and analysts at Trade-24 note that the sector of cryptocurrency is quite specific ,and requires serious infusion for profit. Also, this type of funds will be quite promising in the near future because of the versatility and reliability of protection from potential loss. According to the forecasts of experts and futurists, in the next 15-20 years, those purchasing will have real power of paper money and will be nullified due to the transition to the advanced billing system. Also, many market analysts are convinced of the domination of electronic currency gradually, because since 2040 all mined BitCoin would be input on the free market, which means that the market would ask ask for more and more because of the growing demand and low supply.
Not the less influential factor for the development cryptocurrency will be the presence service and terminals sharing networks. So, by the end of 2020, the US plans to put into operation more than 5,000 locations across the country and in the EU such a program will be implemented in the second half of 2023. Despite this, the paper money will still preserve its influence as long as there will not be accepted in consideration of a single payment system for electronic media instead of the usual wallet. It only remains a rhetorical question – how soon the bill will be superseded to the conventional electronic money, and whether they can continue to gain investors and its people secure and convenient.
Our analysts have decided to make a little analysis of the cost of one of the leading cryptocurrency as Litecoin. It is estimated the global electronic stock exchange, the price jump until the end of the month will be in the range of 3.55 to 3.90 dollars per unit. It is also expected, that the price jump for BitCoin will raise the price for the “silver” cryptocurrency. Analysts Trade-24 also predict, that the level of Bitcoins can also jump to $ 1,000 per unit, which will have a lot of pressure on the cost LiteCoin.
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