Which Cryptocurrency is Right For You?

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Cryptocurrency

A Cryptocurrency is any digital asset designed to function as a medium of transfer wherein real coin ownership information is maintained in a virtual ledger located in a particular form of computer network with strong encryption and security. This system was originally designed as a means of money transfer but has been extended to other uses such as gaming and the Internet. The general public generally refers to any digital currency which is not a fixed asset like currency in the physical world and has no central body or regulator to stand for its value.

A few of the most well-known cryptologies are Monero (XMR), Dash (DASH) and Vitalik Coin (VTC). Among these there are several others that have cropped up lately and are starting to become more popular. There is now a wide array of choices available when deciding on which kind of Cryptocurrency you want to trade in. The good thing about this is that the wide array of choices allows the investor to choose the one that suits their needs best. The bad thing about the many choices available is that the investor risks investing in an unreliable or unproven Cryptocurrency.

One of the newest and rapidly growing Cryptocurrency are Stellaris which is based on the Linux kernel and is mined by itself. This Cryptocurrency was launched around the time of the UTX disaster which temporarily disabled most of the world’s most powerful computers from being able to make transactions. Since then Stellaris has grown to become one of the fastest growing cryptosystems with transaction times remaining consistently under a minute. It also has one of the lowest maximum losses possible at only 0.3% of all trades.

Another new Cryptocurrency which has been launched recently is Augur. This is a proof-of-stake platform that uses two different kinds of computational resources, namely the RLP (ring-chain computation) and the FoREV (future scalable Registrar.) These resources combine to maximize the speed and throughput of transactions while using less power than other algorithms such as Proof-of-Work and Scrypt. Because of these advantages it is no surprise that this Cryptocurrency has been purchased by more than half of all U.S. residents. If you are considering investing in Augur consider purchasing other Cryptocurrency and holding onto them until the price increases. You should be able to profit if the value increases enough.

One of the least well known but most valuable Cryptocurrency is Stellaris. It is based on proof-of-work technology and unlike other Cryptocurrencies is not mined. This makes it less dependent on transaction fees and quicker to set up and process transactions compared to other algorithms such as Proof-of-Resign. This also has the added benefit of attracting new investors by not having to increase transaction fees to cover costs. Unlike Stellaris, there is another upcoming Cryptocurrency that is worth researching. Namely, Zcash which unlike Stellaris is mined by a company called Aurora.

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The two most popular Cryptocurrencies at the moment are Peercoin and Metcafe. Peercoin is an open source project from a group called “Electrum”, and is the original creators of the Cryptocurrency. Peercoin is used primarily for transactions in other Peercoin networks like thebitpip site, bitmain network, and Electrum’s pool. If you have any interest in investing in Peercoin consider holding some for now and selling later for faster gains. A word of warning about investing in Peercoin: its price can be unstable and profits slow down considerably during the beginning.

Another one of the newer and more exciting forms of Cryptocurrencies available today is Litecoin. Litecoin is an upgraded version of the original bitcoin and unlike Peercoin it does not rely on proof-of-work technology. Many litecoin exchanges exist today, and like the bitcoin exchange it operates on a sliding scale with higher transaction fees for larger amounts of money; however, this has greatly reduced the transaction times for smaller amounts of money.

With so many choices in which currencies to invest in, there is bound to be a new, interesting and worthwhile Cryptocurrency that comes out within the next few months or even weeks. Investing in Cryptocurrencies has never been easier. Simply visit your favorite cryptopia, open up an account, and you are well on your way to investing in something that has never been simpler! Even if you aren’t sure what Cryptocurrency you want to get started with, you should definitely look into what litecoin has to offer. Litecoin has already captured the imagination of many investors, and its success could be leading the way for other currencies as well.

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