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.