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What Are The Top 5 Cryptocurrencies In America?

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Cryptocurrency is a digital currency that uses encryption methods to secure transactions and to control the flow of money. They are also referred to as virtual currencies, digital currencies, virtual coins, cryptocurrencies or even crypto assets. Despite being just a few decades old, it has become a very popular investment option for many people around the world. In America, there are now more than 120 virtual currency companies in existence and the number is growing every month. Today, we will be exploring which five cryptos are showing the most promise in America.

Bitcoin

Bitcoin

Bitcoin is the first cryptocurrency to be created. It was created in 2009 by a person or group of people under the name, Satoshi Nakamoto. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Its decentralized nature has helped it achieve popularity and raise alarm as well. The biggest risk associated with Bitcoin is the lack of regulation; this has led to multiple crackdowns by governments across the world. However, traders have been optimistic about the cryptocurrency’s future: On December 20, 2017 the price of Bitcoin surpassed the $19,000 mark for the first time, but it has since fallen down. Many believe the price drop was mainly caused by concerns about the market manipulation and other security issues surrounding the cryptocurrency. There are many benefits of Bitcoin too: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

Ethereum

Ethereum is a cryptocurrency that was created in July 2015 and uses blockchain technology. Unlike Bitcoin, Ethereum is meant to be a decentralized platform that runs apps on the blockchain. It has a cryptocurrency called Ether, which is used to pay for transaction fees, computational resources, and the execution of smart contracts and decentralized apps. Unlike Bitcoin, Ethereum is a long-term investment option: it has both short-term and long-term price volatility and some people believe it is the future of online transactions. Ethereum has many benefits: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

Ripple

Ripple is a payment system based on blockchain technology similar to Bitcoin and Ethereum. However, unlike Bitcoin and Ethereum that use Ether as the token, Ripple uses its own native token called XRP. Unlike banks and financial institutions that use fiat currency, XRP is intended to be a bridge currency for international payments. It has a low transaction rate compared to other cryptocurrencies. There are many benefits of Ripple too: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

Litecoin

Litecoin is a cryptocurrency that was introduced in 2011. Unlike Bitcoin, which has been in the market for a few years, Litecoin was launched relatively recently. One of its main features is the ability to process high transactions without affecting the network. This feature is also a reason why many investors consider Litecoin as a good investment option. However, unlike most other cryptocurrencies, the supply of Litecoin is not controlled. Therefore, its price is expected to increase over time. There are many benefits of Litecoin too: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

NEO

Neo is a cryptocurrency that was created in November 2016. It is a blockchain platform that uses smart contracts to program and enforce agreements. Unlike Bitcoin and Ethereum, Neo did not gain popularity through an ICO or an initial coin offering: it is a product of China’s technology giant, Alibaba. This company invests millions of dollars in blockchain research and development. Therefore, it is expected that Neo will be the next big cryptocurrency. There are many benefits of NEO too: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

Cardano

Cardano is a decentralized blockchain platform built on the Ethereum network. However, it uses a different type of blockchain algorithm called delegated proof of stake. This algorithm was invented by a team of researchers led by a former Google employee. It is a new cryptocurrency that can provide more advanced features than the ones offered by Bitcoin and Ethereum. However, it is still in its initial stages of development and is not available to the public yet. There are many benefits of Cardano too: it is a potential investment option, has low fees and is easy to use. However, due to the security issues and regulatory concern, most people would choose to invest in more established cryptos.

NEO Conclusion

Virtual currencies are becoming more and more common. They allow users to transfer funds in a seemingly anonymous manner, but they also have their disadvantages and risks. For example, they can be extremely volatile, which makes them risky to invest in. Similarly, they can be extremely difficult to use; this can be particularly an issue for people who do not have a lot of experience using banks or credit cards. However, a handful of cryptocurrencies have gained significant traction within the United States. With such potential, it is worth investigating what these are. These are the five virtual currencies that are showing the most promise in America.

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