The cryptocurrency market is still in its early stages, so it’s hard to predict what will happen over the next three years. However, many cryptocurrencies have shown growth potential and may be worth watching as the market develops. Before you purchase crypto, have a look below at what you can buy:
Ether
Ether is a cryptocurrency, a form of money used to pay for transaction fees and computational services on the Ethereum network. It can also be stored as an investment and traded on many exchanges like Bitcoin.
Like Bitcoin, there’s a limited supply of Ether: 18 million units were created in 2014 when it was introduced, and it will continue to be mined over time at a rate of around five new Ether per block every 15 seconds until sometime in 2025 (estimated).Â
At that point, the protocol will switch to a new method for mining which involves proof-of-stake rather than proof-of-work (see below), so no more coins will be created after this date even though there are still many left to mine today!
Bitcoin
Bitcoin is a cryptocurrency and worldwide payment system and the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer, and transactions occur between users directly, without an intermediary. These transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain.Â
Bitcoin was invented by an unknown programmer, or a group of programmers, under Satoshi Nakamoto and released as open-source software in 2009.
Ethereum Classic
Ethereum Classic (ETC) is a blockchain created due to the hard fork that occurred in 2015. It is a decentralized platform that runs smart contracts and enables developers to build decentralized applications. The platform has an ETC cryptocurrency, which can be used for transactions and trading.
Stellar Lumens
Stellar Lumen is a cryptocurrency designed to be used as a medium of exchange that facilitates cross-border payments and remittances. Jed McCaleb created it, also Ripple’s co-founder.
The Stellar network allows anyone to send money anywhere for free. It is not owned by any single entity, meaning there are no fees or restrictions on who can use it or how much they can transact per day (unlike Bitcoin). Additionally, because no miners are needed to verify transactions on the network, you don’t have to pay any transaction fees when using Stellar Lumens.
Litecoin
Litecoin (LTC) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. The creation and transfer of coins are based on an open-source cryptographic protocol and are not managed by any central authority. While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some technical improvements over BTC, and most other major cryptocurrencies, such as the use of script as a proof-of-work scheme.
You need to have a trusted platform to get going. SoFi experts say, “A secure platform that ensures your holdings are protected from fraud and theft.”
It’s important to remember that the above list is just my opinion. The cryptocurrency space is continuously evolving, so don’t take anything for granted!
