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Monday, October 3, 2022

The Different Types of Cryptocurrency

in this article, we’ll talk about what increases their value and then we’ll examine five types of crypto you can buy from CryptoFish. We’re getting to the proverbial meat and it’s getting exciting right? Let’s begin with a background, the source of return is the price increase of the Cryptocurrency determined by supply and demand.

The aim is for him to allow the price to increase over time and then sell it for more. At the moment there are something like 2,000 cryptocurrencies available, some are strong and others are not so strong. At the end of the day, we don’t know which ones will get stronger and which will fizzle and it’s because of this that you need to know which cryptocurrencies to choose.

To start off choose from the strongest and these are Number One, being Bitcoin Bitcoin is the undisputed leader of cryptocurrencies by far. There are a few reasons Bitcoin tops the lot and it begins with its history…

It was the original Cryptocurrency and has been around since 2008, and together with blockchain technology, spearheaded the crypto movement, so to speak. It’s the most valuable because it has the largest user base, it’s offered by more merchants as a payment method, and blockchain boasts a solid infrastructure.

Its downside is that it has a slow transaction speed of around 10 minutes, from this list you can see what makes a cryptocurrency valuable so when deciding, these are the points to consider, after Bitcoin the most valuable cryptocurrency is Ethereum. Let’s take a look at why.

Ether was launched in 2015, unlike Bitcoin, it has a transaction speed of about 15 seconds, it is also blockchain-based. Ripple founded in 2012 is unique based and it was designed for speed, stability, and reliability and more than that is focused on providing one solution that is making international payments faster and cheaper, which it does with speeds of mere seconds.

Litecoin, the brother of Bitcoin. It was launched in 2011, its transaction speed is around 3 minutes which is a lot faster than Bitcoin and the fees are also a lot less than bitcoins. To boot, it’s recently upgraded its payment system.

Next is Bitcoin Cash, which is forked off from Bitcoin in order to make improvements which it certainly did in terms of transaction speed which is under three minutes.

As, well as lowered fees, all five of these cryptocurrencies or at least likely to crash because of the demand and the safest because of the technology that’s used. In the next article, we’ll chat about how to buy and sell cryptocurrency and we’ll give you a step-by-step guide to purchasing.

Read More: 6 Cryptocurrencies You Should Follow This Week

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