Cryptocurrencies are all the rage these days. Of course, Bitcoin has been around for a while, but now dozens of new cryptocurrencies have emerged with different use cases. This article is your guide to understanding what you need to know about types of cryptocurrency so that you can invest or trade wisely!
Bitcoin is the original cryptocurrency and still the most popular. It was created in 2009 to circumvent traditional banking systems and create a new digital currency. Bitcoin uses blockchain technology to record transactions, meaning that it is secure and tamper-proof. The bitcoin to sgd exchange rate has fluctuated wildly, going from under a penny per Bitcoin to just shy of $20000.
Litecoin was developed in 2011 and has been a popular alternative to Bitcoin. It is very similar, but it is easier to mine than Bitcoin. The Litecoin community focuses on its core values as ease of use, speed, and efficiency.
Ethereum is a platform for creating decentralized applications. It was created in 2015 and is the second-largest cryptocurrency after Bitcoin.
Dash is similar to Bitcoin, but it has some important differences. Dash was originally released as Xcoin in January 2014, and then the name changed to Darkcoin a month later. In March 2015, it was rebranded as Dash. Dash is focused on privacy and security, and its transactions are much faster than Bitcoin’s.