You know, traditional online payment systems belong to organizations. These organizations keep your money for you, and when you want to spend your money, you should ask them to transfer your money on your behalf.
On the other hand, cryptocurrency technologies are an ocean. In order to predict the movements of the prices well, it is necessary to do a very serious study.
What are the most popular cryptocurrencies?
BITCOIN
Satoshi Nakamoto, an anonymous name used to create Bitcoin, briefly gave information about Bitcoin in a whitepaper they published in 2008. The concept was pretty simple: Bitcoin is digital money and provides secure peer-to-peer transactions over the internet.
Unlike services like Venmo and PayPal, which require traditional financial systems to allow money transfers to existing bank/credit accounts, bitcoin is decentralized: Anyone can send bitcoin to whoever they want without under the influence of bank, government ot institutes.
For Bitcoin, it is necessary to create a virtual wallet first. You can create this virtual wallet on your mobile phone, on your computer, or you can benefit from web services on the internet. There is no wallet limit per person. You can create as many wallets as you want. Moreover, you do not need to provide your private information for the wallet you will create. With this virtual wallet you will create, you can receive money, send money and even shop.
ETHEREUM
Ethereum is open access to digital currency and data-friendly services for everyone, regardless of your background or location. It is the community-created technology behind cryptocurrency ether and the thousands of apps you can use today.
Internet money may be new, but it is secured by proven cryptography. This protects your wallet, ETH and transactions.
You can send your ETH without any brokerage services like a bank. It’s like giving cash in person, but you can do it anywhere, anytime, with anyone, securely.
LITECOIN
Litecoin(LTC) is the shining new star of digital currency exchanges. Litecoin, a cryptocurrency such as Bitcoin, Ripple, Ethereum, Tether, is visually silver in color. Being an open source software project, Litecoin is not managed by any central authority.
The creator of Litecoin, Charlie Lee, took Bitcoin as an example while creating Litecoin and set a new vision for himself. Litecoin, like Bitcoin, is built on an open-source payment network that is not controlled by a central authority.
However, Litecoin differs from Bitcoin because of the Scrypt algorithm it uses. Thanks to this algorithmic basis of Litecoin, it has a high transaction volume and the ability to process blocks very quickly.
RIPPLE
Ripple is a payment settlement system and currency exchange network capable of handling transactions worldwide. The idea is that Ripple acts as a reliable intermediary between two parties in a transaction, as the network can quickly confirm that the exchange went smoothly. Ripple can facilitate exchanges for various fiat currencies, cryptocurrencies like Bitcoin, and even commodities like gold.
DOGECOIN
Dogecoin (DOGE) is a cryptocurrency that has become popular on the internet and is born from stereotypical dog (doge)-themed content. Dogecoin, with the Japanese hunting dog Shiba Inu as its logo, is a fork of Litecoin that was created in 2013 as a “joke coin”. Dogecoin is one of the widely used cryptocurrencies for tipping, paying on Reddit and similar community sites.
Dogecoin (DOGE) was created by forking the Litecoin blockchain. Like Litecoin, it uses the Scrypt encryption algorithm. In this way, the difficulty level is lower compared to Bitcoin and blocks can be verified within 1 minute. Although Dogecoin is produced from the Litecoin blockchain, its supply is not limited.
TETHER
Tether, (USDT) cryptocurrency refers to trading on the blockchain operating on the ERC-20 protocol. Tether (USDT) was launched in 2015 by Tether Limited, a cryptocurrency trading company. What is Tether and when was it released? Here are all the curious details.
Tether (USDT), for short, refers to a stablecoin that is a virtual version of the US dollar. Its value is always pegged at 1 USDT = $1. The company claims that there is 1 USD in the safe for every Tether (USDT) cryptocurrency on the market.
BINANCE COIN
Binance coin is a cryptocurrency created by the Binance company. It is on the list of cryptocurrencies based on ERC-20. Binance coin is among the high-volume cryptocurrencies. Therefore, the number of people investing in Binance coin crypto money has increased considerably around the world. Binance coin is currently serving with BEP2 base.
Binance coin can also be used to send money internationally. Binance coin blocking time is also low. Therefore, all these transfers are done very quickly. It ranks third among the world’s best cryptocurrencies. As of 2021, Binance coin is worth more than $500.
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