What Crypto Should I Choose?

There are thousands of viable cryptocurrencies out there. Obviously we are not going to discuss all of them.

What Crypto Should I Choose?

In this article we will focus on three currencies, which you may find useful for yourself.

Bitcoin

Bitcoin is the most valuable and widely-known cryptocurrency as of today.

It has the ability to be more than a simple payment method or a perspective investment.

There is an entire ecosystem behind this cryptocurrency.

However, for most people using Bitcoin, the intricate details of the blockchain are not as important.

Outside of the mining community, Bitcoin owners usually buy their cryptocurrency through a cryptocurrency exchange.

Crypto exchanges such as LetsExchange allow you to buy and sell crypto fast, and from anywhere in the world

Bitcoin is known for having high return potential. Its prices can grow at high rates, changing significantly every month or even every day.

For instance, in March 2017, Bitcoin was priced at $975.70, and in less than 10 months it spiked to $20,089 in December.

And then went on to reach its highest price cap at $64,000 in April 2021.

Etherium

One of Ethereum’s main features is the implementation of smart contracts, which allows for a transaction to be made without the intervention of any party concerned.

Both Bitcoin and Ethereum currently use a proof of work (PoW) mechanism, which prevents certain types of economic attacks on the networks.

In 2022, Ethereum will be switching to another system called proof of stake (PoS), which will make ETH more energy-efficient and eco-friendly.

Bitcoin Cash

BCH developers are more focused on consumer payments to grow BCH’s value, thus users may find it better suited for online spending.

Bitcoin Cash

Bitcoin Cash’s most notable feature is that it can process more transactions every time a new block is added.

This enables users to avoid fees used on Bitcoin in times of heavy demand.

Thereby, if you already own the cryptocurrencies listed above, it would be reasonable to exchange your ETH to BCH for before purchasing something with crypto.

You can use a cryptocurrency exchange like LetsExchange for swapping your coins.

Why do people want to exchange crypto anonymously?

Anonymity is a fundamental aspect of cryptocurrency. Traders often look for the best crypto trading bot to do the trading being anonymous.

Each transaction is recorded and stored on decentralized systems called blockchains, which let users make their transactions namelessly, without needing to reveal their identity to traditional financial institutions.

Analysts state that the ability to anonymously exchange crypto creates a more equal market, in which participants can be judged on their actions and not on their background.   

According to Сrypto enthusiasts, there is a variety of reasons for staying anonymous.

Some anticipate that traditional financial regulators could intervene with their business.

Others worry that their wealth could attract hackers and thieves.

In the end, some people just don’t want their social circle or the general public to know about their success or lack of it, as well as their line of work overall.

Also, read about The Use of Popular IP Characters in iGaming & Other Ventures, Does CVS Take Apple Pay? & Preventative Steps Your Business in Maine Should Be Taking.

Leave a Comment