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The most interesting technological development of this era – cryptocurrency and the never-ending speculation of its value and future is at a high. The value of Bitcoin saw a steep hike in the last two months and the magic money has been flowing from the elite finance enthusiasts to the common man. The rising popularity of Bitcoin has made it desirable and owned not only by early adopters but also by sceptics and laggards.

Interested in exploring a couple of other cryptocurrencies besides Bitcoin? This article elaborates on Bitcoin and alternate options.

Bitcoin

bitcoin

Value (01.01.2018)Launch YearDenominationDemographicsIssuance
$ 13,843.90January 2009Millibitcoin, SatoshiWorldwideDecentralized

Bitcoin, the cryptocurrency launched in January 2009 by Satoshi Nakamoto has become the most popular cryptocurrency of the time. As on 5th Jan’18, the market value of Bitcoin stands at $ 15,456.10. Even after a couple of setbacks, every other day there is a hike in the value.

What makes Bitcoin the most popular cryptocurrency?
To begin with, it was the first blockchain which provides complete transparency in the transactions and trading. The currency is not owned by any single governing body, it is owned by everyone who buys the currency. The numbers of coins available are exhaustive, 21,000,000 to be precise, hence the urgency and furore to own this cryptocurrency.

Built on similar models and idea but lesser in value owing to one or the other reason, there is no dearth of cryptocurrencies today. Only a few have found good reception and circulation in the market. Elaborated below are our recommendations.

Bitcoin Cash

Bitcoin Cash

Value (01.01.2018)Launch YearDenominationDemographicsIssuance
$ 2,552.60August 2017SatoshiWorldwideDecentralized

Bitcoin Cash (BCH) was created by the occurrence of a fork in one of the Bitcoin blocks 478,559. The fork created two separate coins, Bitcoin and Bitcoin Cash. There is a vast difference in the value of the two currencies because BCH is a separate coin. There are chances that this may develop into a more popular currency than Bitcoin but as of now it’s considered as an alternate option.

Ethereum Classic

Ethereum

Value (01.01.2018)Launch YearDenominationDemographicsIssuance
$ 36.55July 2015Smallest -wei, Each denomination has its own nameWorldwideDecentralized

Ethereum also called ‘Gas’ is an open-source cryptocurrency. As compared to Bitcoin, Ethereum is considered as relatively less stable. Ethereum aims to incorporate number of transactions and units than Bitcoin. Ethereum’s coin value is Ether and its primary differentiating factor is its technology.

Litecoin

Litecoin

Value (01.01.2018)Launch YearDenominationDemographicsIssuance
$ 254.95October 2011Lites, photonsWorldwideDecentralized

Litecoin is the fourth most popular cryptocurrency. In the similar fashion as Bitcoin, Litecoin also has an open book ledger. The main difference between the two is the speed. The speed of processing Litecoin transactions is four times faster than that for Bitcoin. However, lack of availability of the currency is one of the primary reasons for the comparative lack in surge of value for this currency. The currency has recently been made available to trade on Coinbase which led to an eventual surge in the value.

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