The current trend is for the cryptocurrencies. To invest in these we need to have complete knowledge of these cryptocurrencies. There are people in the market who are not at all aware of the terms such as XRP or ETH. And this is very serious hence, we must discuss in detail regarding the evaluation of these cryptocurrencies.
Here are the 5 most important cryptocurrencies:
1. Ripple (XRP)
Let us start with the ripple cryptocurrency. It is a network of payments that is completely build on the blockchain. It is completely fictional experience and there is no real money involved. It is just a fiction way of sending the currencies and making the payments. It is one of the fastest ways to do the payments online. It is a great real way of transferring currencies in real time with great security. The reason why the ripple is going quite famous and one of the trusted way to handle the currency are because of the real-time speed it has generally shown and the great security. XRP is one of the terms about which the people are not generally aware of and this term is based on being an asset that can easily be used to lower down the liquidity costs when a user is trying to settle a payment. The global reach of the ripple is unmatchable and the services it provides to clients is satisfying since a very long time. In order to do cross-border payments, there are over 100 million institutions that are dependent on the ripple system.
2. Ethereum (ETH)
It is a system that is completed dependent on the way it is being programmed. Hence, it only does the activities as assigned so there is no scope for any kind of fraud or downfall of the system. There is also no possibility of any censorship issue. This also uses the blockchain in order to produce the coins and then these coins are traded in form of the currencies. The ethereum is one of those types of a platform that makes its very own cryptocurrency hence the level of security is very well raised and one can be dependent on this. The security it offers directly increase the dependability of the users on the system that make more users engage and make transfers using this system.
3. Bitcoin (BTC)
It has a major market cap of $275 billion. It runs over blockchain. It is a virtual currency which is on its hype and topmost value in recent days. These transactions are verified with the system handlers who are called miners. In recent times, Japan has started to accept the various sector payments using the bitcoins. The virtual currency is completely safe and these are widely used to make many big transactions.
4. Monero (XMR)
The monero is an open source cryptocurrency. It basically focuses on the privacy of the user. And also focuses on the decentralization that runs on various platforms such as windows, macOS, Linux etc. It uses public ledger in order to perform recordings of the transactions. The new units are formed using the technique of mining. It has recently grown to new heights and is providing a secure platform to be used by the users for the various types of transactions. There are apps and payment portal which accept monero as a payment.
5. Litecoin (LTC)
Litecoin competes with the bitcoin very tightly. It has a market cap of $16.5 billion and their year to date rise is estimated at 6859.6%. The transactions made by litecoin take only a couple of minutes to complete a transaction which is way smaller than the biotin. The supply of litecoin is very limited and a lot more than the bitcoins too.
The Bottom Line
The only thing common to these cryptocurrencies is the blockchain system. One can easily observe that there is no much difference in way of producing the currency but all the difference lies in the way of handling the customers and the security they provide to every customer. The virtual currency has a different field of activity and none of them are direct competitors of one another. There is only one thing common to them that is blockchain technology. Choose the one which you find the best for your benefits.