Crypto Currencies

Cryptocurrencies

In July 2017 there were over 900 different cryptocurrencies available. From Bitcoins in 2009 to Bitconnect in 2017 this is a growing industry. These are a few of the popular currencies that can be traded easily from the comfort of your home.

Bitcoin (BTC)

In October 2008, an anonymous internet user calling himself Satoshi Nakamoto published a paper describing an electronic cash system called a bitcoin network. On 9th January 2009 he released Version 0.1 of Bitcoin software on Sourceforge. This was the birth of the cryptocurrency.

Bitcoin is a peer-to-peer system with transactions taking place between users directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. The blockchain is what makes bitcoin work.

Find more information about Bitcoin here bitcoin.org

Ethereum (ETH)

“Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.” wikipedia

The cryptocurrency went live in 2015 and is a way of executing smart contracts online. You don’t need to know the technicalities of this to trade Ether.

Ethereum and bitcoin are related both in their technology and currency. According to the Etheruem website, “Ether is to be treated as “crypto-fuel”, a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else.”

Having said that, lots of people are trading bitcoins for Ethereum. You can trade Ethereum for cash on Coinbase, so in reality it is being treated as an asset or currency by crypto investors.

Find more information about Ethereum here ethereum.org

Litecoin (LTC)

Litecoin is a peer-to-peer cryptocurrency and open source software project. Coins are created and transferred based on an open source cryptographic protocol. This process is not managed by any central authority. Inspired by, and in most regards is technically nearly identical to Bitcoin (BTC). wikipedia

This is another cryptocurrency that you can trade in although its value is a lot less than bitcoin.

Find more information about Litecoin here litecoin.org