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Digital Currencies
Digital currencies are virtual coins, exchanged between individuals through digital transactions, without mediatories. They exist only in the form of data virtually, but not physically printed. You cannot store Bitcoins in your house. If you own a Bitcoin, it means that every member in the chain knows your ownership.
There are two options for digital currency trading. You can buy the currency, so you are owning the currency. This is called a long term investment, as you are waiting for the price to grow significantly and sell the asset.
The other option is to trade digital currencies CFDs. You do not buy the asset, but you trade on margin, providing you with greater access to the financial markets. When you buy the asset, it is stored in a wallet, but when trading CFDs the position is opened and managed in your trading account.
Segments of Digital Currencies market
Ease - It is simple for traders to own or trade a digital currency. At the moment it is launched, it can be accessed online through trading platforms.
No limits in trading - There are no limits when it comes to buy, sell or trade digital currencies. There might be any limit, if only the owner of the ICO imposed them.
Little regulations - The big difference between ICO and IPO is the little regulations for digital currencies.
Solutions provided - A successful digital currency is the one which gives a solution for a real problem of the society. Always check for that coin which sorts a problem out.
Globality - Through the internet anyone from anywhere is able to trade any ICO they prefer. This way there are high chances for the value of the digital coins to go higher.
What is great to trade after Bitcoin?
Bitcoin Cash (BCH)
- Bitcoin Cash was created in 2017 from a hard fork with Bitcoin. It is a new version of Bitcoin, which is subject to different rules and it is able to process more transactions due to its higher capacity.
Litecoin (LTC)
- It is in many ways similar to Bitcoin, but they differ in speed and volume. If digging a new Bitcoin block takes 10 minutes, Litecoin solves it in 2.5 minutes, so it is 4 times faster than Bitcoin. Litecoin works with very complicated codes, mining it is more complex than the other digital currencies.
Bitcoin Gold (BTG)
- It is a second derivative from Bitcoin source code. BTG brings the entire transaction history of Bitcoin with it. If you owned Bitcoin before the split, now you own the same amount of BTG also.
Ripple (XRP)
- It was created for financial industry purposes, now it has become one of the leading technologies. Its first value was $0.0063 to over $1 in 2017.
Ethereum (ETH)
- It is more than just a digital currency. It is like a supercomputer that is made up of many computers around the globe. Ethereum is a base for the creation of computer programs, called smart contracts. This grew the value of Ethereum by almost 10,000% in 2017.
EOS
- This digital currency is the biggest competitor of Ethereum. It gained its popularity for the efficiency and security in processing transactions. It is similar to the Ethereum technology, but faster, more scalable and allows users to create applications more efficiently.
NEWS ARE AS IMPORTANT AS ANALYSIS
Renewable energy, pot stocks top losers as election results leave Wall Street hanging
(Reuters) – Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday,
Uber, Lyft shares jump as California set to pass gig-worker ballot measure
(Reuters) – Shares of Uber Technologies (NYSE:UBER) Inc and Lyft Inc (NASDAQ:LYFT) jumped in premarket trading on Wednesday, as Wall Street cheered the app-based firms’ projected victory
Californians pass proposition to let Uber treat drivers as contractors: projection
(Reuters) – Voters in trend-setting California backed a ballot proposal by Uber and its allies that cements app-based food delivery and ride-hail drivers’ status as
Renewable energy, pot stocks top losers as election results leave Wall Street hanging
(Reuters) – Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration, were among the hardest hit on Wall Street on Wednesday,
Uber, Lyft shares jump as California set to pass gig-worker ballot measure
(Reuters) – Shares of Uber Technologies (NYSE:UBER) Inc and Lyft Inc (NASDAQ:LYFT) jumped in premarket trading on Wednesday, as Wall Street cheered the app-based firms’ projected victory
Californians pass proposition to let Uber treat drivers as contractors: projection
(Reuters) – Voters in trend-setting California backed a ballot proposal by Uber and its allies that cements app-based food delivery and ride-hail drivers’ status as
