What Are the Different Types Of Cryptocurrency?

Introduction Cryptocurrency has grown rapidly due to digital platforms. They allow for online transactions. Money deposits and withdrawals can be made due to cryptocurrency. It is specially made to be secure and anonymous. There is the use of cryptography for financial security. This has allowed for convenience and efficiency among the end users. There are those that have been in the market for some time. Others have developed over time. They have different performance and characteristics according to ICO reviews. With stiff competition amongst themselves, the different types of cryptocurrency try to be better. The following are the types. Bitcoin (BTC) It was the first cryptocurrency to come up. It emerged in the year 2009. It uses blockchain technology for its transactions. There is maximum security due to the algorithm used. Bitcoin users are free to transact with confidentiality. The anonymity allows sending and receiving money worldwide. The coin limit is 21 million. Litecoin (LTC) It was created in 2011. It is decentralized just like Bitcoin. So far it has the fastest transactions as compared to the others. The transaction limit is 84 million which is flexible for its users. It uses an algorithm which is scrypt for security purposes. Ripple (XRP) It emerged in 2012 with a low-cost money transfer system. It also acts as online payment. Ripple also works with banks, unlike other cryptocurrency. Any currency can be exchanged through this platform. The connection to banks makes it stand out among the rest. Ethereum (ETH) Established in… Read more “What Are the Different Types Of Cryptocurrency?”