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The 6 Major Cryptocurrencies and the Differences Between Them

Cryptocurrencies are ruling the global financial market. Everyone is aware of their presence but not everyone knows how all these cryptocurrencies differ from each other. Bitcoin is the most popular one as it was the first in the market, but there are few others like Litecoin, Ethereum, and Ripple who are making their mark. If you looking for more information or the right place to buy one of these cryptocurrencies buy on bittrex. Let’s see which are the top 6 virtual currencies and how they differ from each other.

1) Bitcoin: It is the first virtual currency that was introduced and hence it is the most popular one. Though it has some issues related to scalability and privacy. The other cryptocurrencies were introduced to overcome these issues that Bitcoin is facing.

2) Litecoin: Often known as the clone or fork of Bitcoin. It was introduced to eliminate the problems Bitcoin was facing. Litecoin has a unique mining algorithm and hence its transactions are much faster compared to Bitcoin.

3) Ethereum: It was created in order to put the amazing Blockchain technology in use other than just a currency. Ethereum provides a decentralized platform to build Distributed Apps and Smart Contracts in a secured way without facing any downtime.

4) Ripple: Ripple is providing a global network that allows instant transactions that are secure and comes with the lower cost even for international payments. Many leading banks globally are planning to use Ripple to make their daily transactions better and fast.

5) Monero: Now that the financial world has started looking beyond Bitcoin, many investors find Monero interesting because of its better anonymity. It is well known for its privacy that even Bitcoin failed to provide.

6) Dash: Dash is another leading coin when it comes to anonymity. It is often known as darkcoin because of its secretive features. It works on a decentralized master code network which makes the transactions untraceable.…

What Will The Future Of Cryptocurrency Regulation Hold?

There is no stability when it comes to the cryptocurrency market. Regulators around the world are trying out all ways to control trading on cryptocurrencies. Developed through the Blockchain technology the cryptocurrency was associated mostly with sales under the internet. It is not impossible to track the transactions that are made through the cryptocurrency but yes it is difficult.

There is no central authority that governs the transactions that happen in cryptocurrency, trulycoin.com, nor is there any regulatory exchange. Also, should the digital wallet be hacked the investors will have very little in terms of protection. There are a number of scams and the cyber attackers stealing funds is something not unheard of.

The marketplace of cryptocurrency is dangerous and risky because with no proper security. The cryptocurrency market is instead impacting the traditional exchanges as well. There are companies that are just using the word Blockchain with their names to attract investors, even if they have nothing to do with it. There are many attackers who are rising on this Blockchain as a fraud and causing problems for the regulators.

It is estimated that the regulators around the world will get down on the illegitimate companies and this would be followed by fines and jails. Many countries have banned cryptocurrencies. They have both termed it as a legal tender and ruled it out and some countries imposed a heavy fine if there is any dealing in cryptocurrencies.

Some of the countries have made it compulsory to trade in cryptocurrencies under the traditional financial structure. This means that the cryptocurrency is no longer an anonymous of the decentralized platform here.

The countries have also made it compulsory to declare the profits made by trading in cryptocurrency.

There is still a lot of confusion when it comes to cryptocurrencies and many countries today have altogether boned it.

The cryptocurrency is a global concept thus it is very unlikely that there will be any true control of this currency.