Cryptocurrency is a digital asset designed to give you a way to exchange value through the internet. Bitcoin was the first and remains the leader, Ethereum, Litecoin, and many others followed. Cryptocurrencies are decentralized and have been designed to give the people a financial system that does not involve banks and governments.
I would like to share with you some information on the major and altcoin cryptocurrencies that have caught my attention so far. I will also be discussing where you can buy or trade them and different ways you can get access these markets.
There are currently over 1000 cryptocurrencies in 2017 but the leaders in this new field remain the most valuable and/or the most traded. The Major and most valuable cryptocurrencies at this time include Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash to name just 5. Being able to trade these Cryptocurrencies anonymously is a big draw for many people in this day and age. The fact that they are all decentralized networks is an equally big draw for anyone who understands the benefits. In this collection of pages, that I have linked together via the menu to the left, we will try to understand each of them a little. What are they? How can you buy them and How can you Trade them?
For those of you out there who do not want to bother with wallets and actually owning Cryptocurrencies, there are other ways to trade them. More and more Forex brokers are now offering Cryptocurrency options on MT4, the now evolved Binary Options style brokers are offering 1-Click trading with simple percentage targets. Choose what is right for you!
Any cryptocurrencies that are not yet considered major are referred to as Altcoins. As I mentioned above, there are over 1000 cryptocurrencies already and they can’t all be massive. As I write this there are some coins that were once just Altcoins but are now considered major players. If you can find the right Altcoin there is a lot of money to be made in a short amount of time. However, these Altcoins can only be purchased and/or traded at specialist cryptocurrency exchanges. In this collection of pages, I will let you know where each coin that is discussed can be obtained.
Gold Backed Cryptocurrencies
There are multiple Gold Backed Cryptocurrencies that are now appearing in 2017 but none that are fully operational yet. On the one hand, the idea of a Gold Backed Cryptocurrency means a more stable coin, on the other hand, it is hard to know what level of regulation will end up being involved due to the gold ownership. The Gold Backed Cryptocurrency idea does mean that your coin can never be worth less than the value of gold and it also means that the gold you own can be used rather than just sit around being stored. Gold has a 5000-year track record of being a great long-term asset to have. The final questions remain, have we reached a time where people don’t want anything in a vault that ‘could’ be stolen? Is the new un-backed Cryptocurrency concept harder to hack than a vault be robbed? Is anonymity more important than holding a proven store of value like Gold? Is Gold an asset that owners prefer to store than use anyway? No matter what the answers, it’s an interesting push forward and it never hurts to own some gold in one way or another.