Before continuing the reading: these cryptocurrencies are not necessarily profitable to mine or in the coming years. What does that mean ? Some can have an overvalued value, and others can only be undermined by professional equipment. This ranking is based on popularity over the last year and in 2017. It is also possible to classify the best crypto-currencies according to objective criteria (which is done). On the other hand, a currency that is currently popular is likely to be profitable for a short-term investment (1 to 2 years). Some currencies have already broken their mouths - yes I use these words - and so we need a strategy. Moreover, in recent months many new crypto-currencies have just appeared, and may be among them hide a gold investment.
It is enough to assume that - for most people - this whole story of virtual money remains a great mystery ,
Crypto currencies are both a cryptographic currency and a peer-to-peer payment system. They are therefore virtual currencies in the sense that they are characterized by a lack of physical support: neither coins nor notes and payments by check or bank card are not possible either.
These are alternative currencies that have no legal tender in any country of the globe. Their value is not indexed to the price of gold nor to that of conventional currencies, nor are they regulated by a central body. And yet, security and transparency are their main assets! Because cryptography secures transactions that are all verified and recorded in a public domain, ensuring both confidentiality and authenticity, thanks to blockchain technology.
The main crypto currency is the Bitcoin which has just experienced a "fork" in early August. A disagreement in the Bitcoin community on the speed of transactions resulted in the birth of a new currency: the Bitcoin Cash, which then immediately rose to third place in the Top 10 crypto-currencies.
Indeed, in parallel to the Bitcoin, there exist many other crypto currencies like the Ethereum for example which also experienced a "fork" last summer. We can also mention Monero, ZCash, Litecoin or Ripple. It will be remembered that cryptocurrencies are numerous, that new ones can emerge and challenge the heavyweights of the sector but also that disagreements within a community can lead to a "fork" (fork in French), a split Within the community and the creation of a new currency from the old technology but making changes.
A classification of crypto-currencies according to their stock market valuation.
Here is an overview of the situation as of August 9, 2017 shortly after the launch of Bitcoin Cash:
- Bitcoin
Creation date: 2009
Market capitalization as of August 9, 2017: 54, $ 117 billion
- Ethereum
Date of creation: 2015
Market capitalization as of August 9, 2017: $ 26.92 billion
- Ripple
Creation date: 2012
Market capitalization as of August 9, 2017: $ 6.977 billion
- Bitcoin Cash
Date of creation: July 2017
Market capitalization as of August 9, 2017: $ 5.370 billion
- Litecoin
Creation date: 2011
Market capitalization as of August 9, 2017: $ 2.516 billion
- NEM
Date of creation: 2015
Market capitalization as of August 9, 2017: $ 2.438 billion
- Dash
Date of creation: 2014
Market capitalization as of August 9, 2017: $ 1.462 billion
- IOTA
Date of creation: June 2017
Market capitalization as at August 9, 2017: $ 1.453 million
- Ethereum classic
Creation date: July 2016
Market capitalization as of August 9, 2017: $ 1.445 billion
WHAT IS THE CRYPTO MONNAIE ???
As with any currency, cryptocurrencies allow the purchase of goods and services. Since they are not under the control of a central authority and are not regulated, they have long been the prerogative of illegal transactions (ransomware, drug trafficking, etc.), but they tend to get rid of their bad reputation by Democratizing and attracting a wider audience. Cryptocurrencies are today increasingly used for legal transactions.
There are two ways to get encrypted currencies:
1-By selling a good or service and requiring payment in the crypto currency of your choice
2-By converting "classic" currencies (euro, dollar, etc.) into encrypted currency.
Kraken or Bitstamp or Poloniex allow for example to easily convert euros into Bitcoins.
To convert your euros into Bitcoins, you must register on this platform by providing an electronic copy of an identity document and a recent invoice (gas, electricity, internet) to prove your address.
Volatility is one of the major characteristics of crypto currencies. Thus, the value of an encrypted currency can increase or decrease, very quickly, in an unpredictable way. At stake: its young economy, its unusual nature and especially markets sometimes illiquid. Investing in encrypted currency is therefore not recommended for cautious profiles with high risk aversion. For the others, think about not keeping a large part of your savings in Bitcoin or any other that remain high-risk assets.
[ and the final it's your choice you have the spirit of that time energy and passion if you have that do it .]
Thanks you