Cryptocurrencies are virtual currency which is formed in a way which can be transferable by the payer and buyer. The form of cryptocurrency is to make digital transaction possible two individuals irrespective of which country they belong from as there are no third party available. The cryptocurrency can be detected by mining process in computer. In this post we are going to discuss most popular 5 cryptocurrencies in the world.
Bitcoin is the most popular cryptocurrency in world. After Nakamura started this cryptocurrency he hided million of bitcoins in digital world. This hidden bitcoins can only discovered or find by mining of digital world. This method of transaction are now accepted by large industries and malls in the world. AOs there are some caps available which is measured by multiplying the supply of currency by the current price. This is the most trusted cryptocurrency in the world and people around the world invested in this currency as it have wide acceptancy in whole world. By these one send money to other and then other verified the transaction and it is recorded in the block chain. It take almost 10 minutes to complete the transaction.
Not only by the name coin, but it is very similar to bitcoins. But it have some additional advantages than bitcoins. Bitcoins need a huge investment of computer graphics but Litecoin can occupied easily as it has less complex algorithms then bitcoin. It has more supply of currency and it take usually 3 minutes to complete the transaction which is comparatively low than bitcoin.
It is a popular cryptocurrency as it can eliminated third party in any transaction. You can transaction a deal with the Ether currency without the involvement any third party. So you can deal online without any legal work needed. Your transactions will be verified by other users and it will be stored in blockchain.
Ripple is originated in one idea. Most of the cryptocurrencies take many minutes to completed the transaction but it is not case in case of ripple. One can transaction money from one wallet to another in only 5 seconds. You can exchange your money from dollars to euro or vice versa. By these you can avoid giving transaction fees from one country to other country. It can done more than 1500 transactions in a minutes which is also quite higher than any other cryptocurrencies. Beside this , it is backed by several big investors like google so it is secure.
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Monero is open secure cryptocurrency to transaction from one wallet to another. The peculiar thing in this currency is that they use ring signature which always hide sender, receiver and even the amount. In popular bitcoins people can watch those information in transaction but not in these case. So it is a place where money cant be send one wallet to other by accident. It become popular by this feature that no outsiders can observe the source, amount and destination which is helpful for the businesspersons to be anonymous and transfer the money to their preferred destination.