Top SEO Company Dubai about cryptocurrencies and the top cryptocurrencies of 2020 to buy or invest.
Cryptocurrency is the money of the future. In today’s world, cryptocurrencies have become so popular. There are more than 400 cryptocurrencies invented until now.
What is cryptocurrency?
Cryptocurrency is an exchange medium based on the internet used for performing financial transactions. It uses cryptographic functions to perform exchanges. Cryptocurrencies gain decentralization, immutability, and transparency by using blockchain technology. When a cryptocurrency is mined it is considered centralized. But when implementing, each cryptocurrency works through a distributed ledger, usually a blockchain.
It is a digital asset designed to work as an exchange medium wherein record ledgers are stored in a computerized database using cryptography functions to secure transactions and to control the creation of additional coins.
Here are some interesting facts about cryptocurrencies.
- Did you know that cryptocurrencies are not at all controlled by any authorities? The blockchain technology makes cryptocurrencies immune to any control or interference of a centralized authority. Hence cryptocurrencies have a decentralized nature.
- When dealing with cryptocurrency, the user needs to hold a crypto wallet that has public and private keys. Cryptocurrencies can be transferred between two parties via private and public keys with minimal processing fees. This is a major advantage as traditional financial institutions charge a good amount of transaction fees.
- Bitcoin is the most popular cryptocurrency and surprising fact that the person who created the bitcoin is unknown.
- Several countries are behind mining cryptocurrencies. Among them, it is China that controls around 75% of the mining networks.
- The decentralized nature of cryptocurrencies made them not able to be physically banned. But there are still few countries that have banned cryptocurrency transactions. They are Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, and Nepal.
- Just like the share market, even cryptocurrencies are extremely volatile as it truly depends on trading. This risk factor and no physical presence is what makes most people not much interested in investing in cryptocurrencies.
- cryptocurrencies are a great choice for eCommerce and online shopping that are mostly in the form of digital money and cashless payments.
- Some scammers mine cryptocurrencies and they put malicious code on your computer or phone without your knowledge. This is called Cryptojacking. Such activities can slow down your system and make your battery discharge faster.
Top Cryptocurrencies Of 2020 According To Top SEO Company Dubai
Bitcoin is said to be the king of cryptocurrencies. It is the most used and stable cryptocurrency around the world, regardless of its volatility. It has the highest liquidity when it comes to the crypto space. Bitcoin’s main objective is to become global digital cash which can be handled peer to peer and make it a fully decentralized exchange medium that can be detached from any form of regulation. The increased demand for Bitcoins made it value to be increased substantially.
Ethereum is as popular as Bitcoins. It is the second most cryptocurrency that can be liquified. Ethereum offers the best investment opportunities among cryptocurrencies. It was the first major project among cryptocurrencies to introduce smart contracts. They allow developers to launch decentralized desktop and mobile applications known as dApps. dApps are the backbone of blockchain technology. We can buy or sell Ethereum without issues as they have stability and increased value.
Ethereum tokens can exist more when compared to bitcoins. The Ether boosts the dApps system and many companies are using them to support their projects on smart contracts and other launch applications.
Litecoin is one of the most trusted cryptocurrencies in 2020 and people believe that Litecoins will explode this year and in the future years. This year, Litecoins show high liquidity and a huge market cap. Experts suggest staying away from crypto coins with a tiny market cap and less liquidity chance. Litecoin has the highest block reward which is 25 LTC when compared to other cryptocurrencies. There is a limited supply of only 84 million coins done until now. Experts think that Litecoins have a great investment future in the coming years in comparison with other cryptocurrencies.
Basic Attention Token(BAT)
Ripple is a little different when compared to other cryptocurrencies. Ripple comes in 3rd place after Bitcoin and Ethereum in market capitalization. It is a start-up that is venture-backed and it offers financial settlement services to financial organizations such as banks to make transactions instantly. Instead of focusing on individual transactions, Ripple pays more attention to financial institutions by adopting the Ripple protocol. It is safe to SEC regulation, and that is the main reason experts from SEO company Dubai say that they may explode this year and remain a powerhouse among the crypto community.