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Different Types of Cryptocurrency

Crypto-currencies or digital currency remains to bother investors or trader. However, it is together raising new millionaires in this regular changing and challenging market and time.

Crypto-currency (especially Bitcoin) becomes the trend of 2017-18 that most of the people still trying to understand the concept because it expects to get the same attention in the coming year too. The concept is a little bit difficult to understand for that new investor who is eager to invest in it. No know actually aware of the different digital currency as Bitcoin alone grab the market’s attention and become one of the dominant virtual next big cryptocurrency of the current time.

Apart from this, Ethereum and Ripple are also moderately famous but, there are many lesser-known virtual coins that we will discuss today in this article. However, before that let’s discuss the Policies to follow before investing in cryptocurrency.

Different Types of Cryptocurrency

Generally, people want to invest in this digital form of money but, they forget to consider some important things that should take care of before investing in it. In cryptocurrency, you should always set your limit as there could be chances of loss too.

Normally, there are two types of planning which one should follow:

  • Long-term Investment:

Long-term investment is good for those who want a better result. There are certain facts that you should consider such as:

  • Make a plan of time as well as price.
  • Set the goal when you will sell your digital asset at a single time or in parts.

 

  • Short-term Investment:

One who doesn’t want to indulge themselves in long risks and wants to earn an instant profit can invest in a short-term. But, one should plan a few things before:

  • Decide the price on which you will sell your coin.
  • Set limit of losses as well as how you behave in the major price drop.
  • Knowledge of crypto market.

Now, here are the different Types of Cryptocurrency

  • Litecoin (LTC):

Different Types of Cryptocurrency

This digital money was launched in 2011 and one of the most initial cry crypto-currencies of the world following Bitcoin. Charlie Lee, an MIT graduate, and former Google engineer has created this asset. This cryptocurrency has features like Bitcoin in many ways while Litecoin had a market cap of $3.40 billion.

  • Ethereum (ETH):

Different Types of Cryptocurrency

It is the decentralized software platform that allows Smart Contracts and Distributed Applications has launched in 2015. This only runs on its platform-specific cryptographic take name as ether. As per the ethereal, it can use to “codify, decentralize, secure and trade just about anything.”

  • Bitcoin Cash:

Different Types of Cryptocurrency

It is the branch of Bitcoin with a market cap of $28 billion (£20 billion). The aim of this fork it to build a newer version of Bitcoin with a larger block size. Originally, it was limited to 1 MB.

  • Monero:

Different Types of Cryptocurrency

It was launched in 2012 as Bitmonero. It open source and crowd-funded approach to crypto-currency which decentralize virtual currency based on the CryptoNote algorithm. However, as compared to Bitcoin, it is fungible which enables, private transaction.

  • Dash or Darkcoin:

Different Types of Cryptocurrency

Dash is originally known as the Darkcoin and launched in 2014. As it is not so more secretive version of Bitcoin. Darkcoin was rebranded to dash in 2015 and had a market cap of $1.51 billion.

  • Zcash:

Different Types of Cryptocurrency

This open-source crypto-currency launch in 2016. It says that, if Bitcoin is HTTP then, Zcash https where the investor can selective transparency of transactions. It also gives their users a choice of “shielded” transactions.

  • Ripple:

Different Types of Cryptocurrency

Launched in2012, it is a real-time global settlement network that offers instant and low-cost international payments. This cryptocurrency mainly allows banks to pay cross-border payments in a meantime.

Looking at the present scenario of crypto-currency, we can say that in the future it becomes the crisp medium of sudden income. Meanwhile, one should also be ready to accept the fact that there could be some losses. The whole game is based on assumption and as we know assumptions are not always true. If one has a lot of money that they are not afraid at the losing then, they can invest in this digital asset.

About BDHelpGuide

Hello Friends, Welcome to our blog “BDhelpguide“. This is Emon Saha, A professional Blogger, Youtuber, Digital Marketer & Entrepreneur. I love doing work which makes me happy, that’s why i love blogging.

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