In the world of virtual reality, thanks mostly to the internet and some very creative computer nerds, the way we conduct business has changed forever. Just like how email and messenger programs altered how we communicate with each other, eCommerce has changed how and where we shop for the things we need or want. The money we use as online consumers has also changed with the creation of cryptocurrencies. It set the new tokenized-blockchain Internet of Things (IOT) trend.
The cryptocurrency trading also catching up the hype as many traders jumping into the digital currency trading bandwagon. With so many cryptocurrecies available now, it is a daunting task to single out which coins to invest in especially for the long term.
However, there are few that is actually very stable and ‘established’. In this post, I list down few big ones and have the best chance to survive in the long run. There is the leading pack from the rest of the altcoins.
What They Are
A cryptocurrency is technically an online form of money. It is more accurately lines of code that are generated through electronic pulses that are converted into a monetary value. Digital currency if you will, with the first one created in 2009. That one was named Bitcoin which is short for the phrase, “I need a bit of coinage to buy some stuff.”
Here are the Top 5 Digital Currencies
1 – Bitcoin
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The obvious choice for the Number One spot is the one that started the entire cryptocurrency frenzy. In fact, thanks to Bitcoin there are well over 1,000 different cryptocurrencies out there. Bitcoin is the most valuable of digital asset with a single BTCUSD Bitcoin US Dollar costing $2,700.00 in end-July 2017. The upside is that Bitcoin is recognized around the world and is accepted by more and more places daily. Still unsure of Bitcoin upside potential? Go google it, you could find some big time Wallstreet analyst predicts year end price of $5,000.
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2 – Litecoin
Considered a close second simply because of the similarities to Bitcoin, Litcoin is a whole lot cheaper. The value for a single Litcoin is roughly $40.00. The Litecoin after successful deployment of SegWit has sparked the great potential and future of Litecoin network. Its speed of money transmission and scalability capacity has made the network looks the best alternative to Bitcoin. Despite the recent cryto market crash, Litecoin (LTC) was able to hold on the sub-40 level proves the interest on LTC is growing. Keep tap on LTC price, it could well on its way to three digits soon.
3 – Monero
Introduced in April 2014, Monero in an open source virtual currency that focuses on privacy and decentralization. The market value for one unit is about $29.50 USD. This year is not the best year for Monero, it had been lagging behind in terms of price growth. But the devs are working and rolling out new features and updates constantly. Monero (XMR) is climbing the chart slowly but surely one of the digital tokens that proves its usefulness.
4 – Ethereum Classic
As a trading cryptocurrency, Ethereum Classic is slightly off from the top three on this list but that does not indicate that it is any less popular. It is one of the most active trading aassets in Chinese cryptocurrency exchanges. It is a lot cheaper than the others currently trading at around $6.50 USD for a single unit. Expect this one to gain value as it gains market share.
5 – Dash
Only three years old, you may not recognize this digital currency by its current name. If you used or read about Xcoin or Darkcoin, then you know about Dash as those were two previous names it went under. This is an open peer-to-peer virtual currency with a slightly greater market share than Ethereum Classic and NEM for a three-horse race for 5th spot. It is the biggest Proof-of-Stake mastenodes altcoins. DASH could also be worth keeping an eye on.
Buddy, Can You Spare A Bitcoin?
There is no doubt that the worldwide web has created the perfect environment for cryptocurrencies. They are a great way to deal directly with merchants and skipping over the nasty bank fee part of any online transaction. Expect more to be created but over time only a few will be the standard online coinage of choice.