Recently, a number of cryptocurrencies as well as platforms have entered the market and are competing with Bitcoin, which is arguably the most popular form of cryptocurrency.
Bitcoin is a form of digital currency that is becoming increasingly popular as a payment method. What makes it as well as other forms of cryptocurrencies popular as preferred methods of payment is that it allows direct payments between two individuals without a middleman such as a bank, credit card company or PayPal.
What are some of the top 5 cryptocurrencies to invest in for 2017 and beyond?
At the top of many peoples’ cryptocurrency list is Bitcoin, which has doubled in price in 2016. Although there have been other forms of cryptocurrencies on the market, Bitcoin is still the most valuable type of the market. Using Bitcoin gives users the option to securely transfer funds across international borders with increased anonymity.
Bitcoin can also be exchanged for a wide variety of goods and services nowadays.
Ethereum is a decentralised platform that runs Smart Contracts. It has applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
It has experienced a growth rate of 40 times over the last two years and runs on a custom-built blockchain.
Open-source and freely available to all, Monero is a secure, private, untraceable currency. When using this cryptocurrency, your accounts and transactions are kept private. Only you control and are responsible for your funds.
Widely regarded as the “silver” to Bitcoin’s “gold,” Litecoin was launched in 2011 and was created by Charlie Lee, a former Google engineer. The cryptocurrency is based on an open source global payment network that is not controlled by any central authority. With a faster block generation rate, it allows for faster transaction confirmation.
What makes Dash on of the top 5 cryptocurrencies to invest in for 2017 is that the value per coin is one of the highest on the market. It is also the most privacy-conscious cryptocurrency and is aimed at increasing anonymity, with a core purpose to act as a kind of electronic cash.