Ethereum has been around for years now, and within that time, it has managed to qualify as the second most traded digital currency after Bitcoin. It is both a decentralized platform and a coin with its native ERC-20 token. The Ethereum platform allows developers to create smart contracts and decentralized applications. The platform’s token is Ether, used by consumers and traders to make purchases. The Ethereum platform remains pivotal in the cryptocurrency operations; according to them, their platform can be used to codify, decentralize, secure, and trade just about anything.
Bitcoin is the mother of all other cryptocurrencies; the coin was the first of its kind to be established in 2009 and currently controls the prices of all other coins. Bitcoin trading is not big simply because it was the first currency to be established; contrary to that, the coin is quite volatile, making it suitable for day trading as well as long-term trades. Volatile currencies enable traders to open and close positions when prices spike. This is the main reason why many traders prefer trading Bitcoin: it offers loads of chances due to its volatility. The volatility of Bitcoin is affected by several factors including changes in tech, news, and more. Whenever such triggers occur, the coin’s prices shift accordingly, and traders enter or exit the markets
Having been launched in 2011, this is one of the oldest coins in the crypto space. The currency was developed by Charlie Lee, an MIT graduate and former engineer at Google. LTC operates on an open-source network around the world that is not centrally regulated, and it uses “script”, a password key generation function. Despite drawing a lot of its features from Bitcoin, Litecoin has a faster block generation speed, making it more efficient in terms of transaction processing.
Ripple is a decentralized payment system that operates globally and most recently got a few endorsements from key financial institutions. Ripple offers an instant and safe payment system for its users around the world. The platform was established in 2012 and with an aim of enabling banks to settle cross-border payments on a real-time basis. Ripple’s coin, XRP, is one of the most unique coins since it cannot be mined unlike most other coins like Ethereum, Bitcoin, and Litecoin.
This is another great cryptocurrency launched in 2016. Zcash has a market capitalization around $680 million. Zcash is a promising asset that offers privacy and transparency of user transactions. Zcash boasts more security to its user transactions even after records of user operations are recorded on the blockchain. The platform ensures that information such as the sender, recipient, and amount remain out of the eyes of the public. Users of the platform get to have “shielded” transactions, which allow their transactions to be encrypted using a cryptographic technique called ZK-Snark.