Undoubtedly, cryptocurrencies have been a milestone in the scheme of transactions and the management of global money. Economists continue to debate between their sustainability over time; others say that it is the natural evolution and the response to a globalized, deeply digitized world. Whether the case, in the last couple of years, these currencies have had a rise in their price, starting with Bitcoin, whose value in 2017 exceeded 19,000 US dollars, followed by dozens of altcoins.
Knowing the volatility of these markets, the influence of capital flows and confidence, it is logical to think of investing not only in the most popular currency, but also in the altcoins that are rising in value and security. But we must always keep in mind the golden rule we always hear but ingnore very often: Never invest more than you can afford to lose. Bitcoin dominates most of the market for digital currencies, but there are other currencies that promise to fill the gaps that Bitcoin has not been able to, presenting themselves as alternatives or improved currencies. Such is the case of Ethereum, Litecoin and Monero.
Ethereum is presented to the market as a decentralized currency and with a platform that handles smart contracts. Being designed specifically to avoid server crashes, censorship, fraud or third-party interference. These applications run using Blockchain, a shared global infrastructure that can move values, property contracts, tokens, etc. In this way, developers can create markets, register stores, debts, move funds and everything without the risk of the counterparty. Since its creation in 2014, Ethereum has gained worldwide fans, its base in Switzerland has received contributions from brilliant minds and aims to position itself as an alternative to the current state of monetary transactions handled by governments and institutions as we know them.
Among the main features of this currency is that it is built in open source, so its code is open to scrutiny of the world. Its node alternative is promising to decentralize the current information processing strategy in the cloud. These nodes are being managed by volunteers around the world, trying to open up to everyone the current digital business model. Your bet is basically based on combining the control that people have over their information in the past with simple access to the information that we are used to in the digital age.
Litecoin offers an additional facility for payments in its peer-to-peer structure, offering a rarely questionable speed with almost instantaneous transfers and almost no cost to anyone, anywhere in the world. Like its peers, it is based on blockchain technology and is open source, allowing external audits of its code. It offers a decentralized payment method and outside the scrutiny of central authorities. In this way, mathematics ensures the network and allows total control of your finances.
Litecoin offers fast transactions, very short confirmation times, as well as improved data storage efficiency.
Litecoin has positioned itself in a very short time as a supplementary alternative to Bitcoin, thanks to the support of the industry, the volume of change and its liquidity. Since its creation in 2011, it was differentiated by decreasing the generation time of blocks, increasing the number of coins, and the use of a different hashing algorithm. Its current units represent about 4 times the amount of coins that Bitcoin and its current value is around $ 53. Currently it is among the first ten currencies according to its market segment.
Monero, for many people, is a “must have” coin, it offers a privacy, safety and it is simply untraceable. In this way, the developers assure that it is impossible for third parties to obtain information about your transactions or your balance, being able to spend your money in a safe and anonymous way. Monero uses stealth addresses, has all the common advantages of a cryptocurrency but without compromising the privacy of its users. Monero coins are merged in each transaction. That is, a particular currency cannot be blacklisted by its previous transactions or associations, taking away the possibility of sellers or change agents from notifying users or their particular units.
Monero is worth approximately $ 110, and since its creation in 2014 has raised a lot of interest among users of cryptocurrencies around the world. Its development is based on donations and contributions from the community, always based on decentralization and scalability. The ring signature technology uses groups of cryptographic signatures to hide the true one, making it impossible to isolate the fake ones from the real one.
Finally, I recommend that you take the time to study carefully every cryptocurrency in which you wish to invest, since the reliability of your capital will depend on the reliability and trust of the users. Happy Investing. Happy Trading.