Nowadays, cryptocurrencies are the trending topic, especially when Elon Musk, the owner of Tesla Motors and SpaceX, announced this year in July 2021 that they will start accepting payment in Bitcoin again. Hence, once again, the cryptocurrencies market started to boom. Furthermore, there is a forecast of Bitcoin that in the coming years, it will go up to $318000, according to some experts. The cryptocurrency market is highly volatile, and it is a 24 hours market, so you need to be quite careful if you want to invest in this market. However, the cryptocurrency market has the potential to make you rich if you know how to play safe. If you are a beginner and want to invest in the crypto market, register here platform, you can learn more about bitcoin
History of Cryptocurrency
The first introduced cryptocurrency in the market is bitcoin in 2008 by Satoshi Nakamoto whose identity is still unknown. However, at the beginning of launching bitcoin, a person claimed to be Satoshi Nakamoto, but all of their claims were false. There are multiple benefits of investing in the crypto market, including fast, safe and secure transactions. It also does not disclose the user’s identity, and it is because cryptocurrencies might be used for illegal and mysterious activities. The other advantages are that it removes the interference of intermediaries, parties and fees, which incurs on every transaction place.
After the massive success of Bitcoin, many cryptocurrencies were launched successfully. The technology used in the cryptocurrency market is blockchain technology, and the transaction between the two parties is a peer to peer p2p technology. The user can deposit funds in his digital wallet using any application or from different websites. All transactions are encrypted and secured with public and private keys in which only the user of the transaction knows his private keys. We are going to discuss the cryptocurrency bitcoin and other cryptocurrencies as well.
Other Cryptocurrencies
Numerous cryptocurrencies were launched after bitcoin, including Ethereum Tether, Cardona, Dogecoin, Litecoin, ALT Coin; we are going to discuss bitcoin and Ethereum below:
Bitcoin
It is the most top cryptocurrency in the industry. It has more than 50% of the market worth. It is currently available at a price of $ 46,000, but it has the potential to go high around $300,000 in coming years. It was issued with a concept of the simple white paper, and even there was a time when it was offered free as people thought it was a scam and did not deserve a single penny. People who invested at that time are now in 100% profit, while those who think these cryptocurrencies are worthless regret their decisions.
Ethereum
It is the second high cryptocurrency according to its market worth after bitcoin. A single Ethereum today costs around $3141. Ethereum is also a new blockchain, and it’s open-source and decentralized and is very powerful and has the functionality of a smart contract. Vitalik Buterin invented it in 2013. He was a programmer. ETH is also secured by cryptography, and you can also buy a part of ETH, which has as little as 18 decimal places.