Bitcoin
BTC$41 781.93

-1.20%

Ethereum
ETH$3 104.92

-3.07%

Tether
USDT$1.000442

0%

Binance Coin
BNB$462.66

-2.57%

Cardano
ADA$1.41

-10.09%

USD Coin
USDC$0.999818

-0.07%

Why trade cryptocurrencies in 2018?


18 Oct 2018

#Ethereum

What are Cryptocurrencies?


Cryptocurrencies are ‘intangible commodities’, decentralized in nature which means that their production is not subject to governmental or banking order. Similar to conventional commodities like gold or oil, Cryptocurrencies are digitally ‘mined’ and their production is gradually decreased to control the amount in circulation. Since 2009 when Bitcoin was introduced, Cryptocurrencies are becoming more popular among investors and traders.


Why trade Cryptocurrencies?

Bitcoin


Trade the world's most acclaimed cryptocurrency with IronFX. Developed in 2009 by a person (or a group of people) with the allies of Satoshi Nakamoto, Bitcoin is the world's first and most valuable cryptocurrency. Unlike centralized currencies controlled by the central bank, Bitcoin’s supply is finite. Specifically, only 21 million Bitcoins can ever come to existence, which means that its value is subject to supply and demand. Its volatile nature and high daily trading volume make it a very attractive trading instrument. Bitcoin is gaining popularity as its mining increases, making it a new favourite asset among many traders.

Ethereum


First proposed in 2013 and released in 2015, Ethereum is a blockchain-based platform, which uses Ether as its value token. The Ethereum network was originally developed by Vitalik Buterin to improve Bitcoin’s scripting language which does not allow application development, but since agreement was never reached, Ethereum was rather launched as an independent blockchain-based platform. Similar to Bitcoin, Ethereum is decentralized and Ether’s production is capped; yet, Ether’s capacity is larger and its mining can happen more frequently. Specifically, 18 million Ether tokens can be mined per year and no more than one token can be mined per 12 seconds approximately. Similar to most cryptocurrencies, Ethereum’s nature is volatile, which often raises great opportunities for investors.

Litecoin


Often referred to as the most successful clone of Bitcoin, Litecoin was released by Charlie Lee as a fork of the original Cryptocurrency that uses a slightly altered source code. Since its release in 2011, Litecoin has gained popularity and became a more affordable alternative to Bitcoin, verifying its developer’s aspiration to make Litecoin the ‘Silver to Bitcoin’s Gold’.

1 Litecoin can be mined every 2.5 minutes and given that the cryptocurrency’s technological algorithm remains unchanged, only a total of 84 million Litecoins can ever be mined. Given that Litecoin’s maximum volume and capacity is 4 times higher than Bitcoin’s, the two Cryptocurrencies are expected to reach scarcity at about the same time in the future. Litecoin’s chart has lately been very volatile, following the founder’s decision to sell all of the Litecoins in his possession, arguing that his statements around the Cryptocurrency were critically influencing the charts, which created conflict of interest.

Ripple


Ripple is more than just a Cryptocurrency. The Ripple technology acts as a global, digital settlement network, of which the development was driven by the ever-increasing demand for cross-border payments and the inconvenience caused when it comes to transactions between different payment systems. Unlike conventional bank-to-bank transactions that are time consuming, expensive and inefficient, Ripple transactions are hassle free, as settlement time can be as low as 5 seconds and conversion fee is eliminated since no currency exchange takes place.

Unlike the majority of Cryptocurrencies, Ripple is not decentralized. In contrast, the Ripple network bridges centralized fiat currencies and even Cryptocurrencies like Bitcoin and Ether. Ripple coins cannot be mined. Instead, the amount in circulation is controlled by the ‘Ripple’ company, which means that volatility can be caused for reasons other than just supply and demand.

Many investors expect the Ripple technology to revolutionize the way global transactions take place, which explains why Ripple’s popularity has dramatically grown.

ADA


ADA is the native coin of Cardano. Charles Hoskinson, co-founder of Ethereum, established ADA when he collaborated with the Cardano Foundation in 2015. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure by the use of cryptography. This is the first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology is secure, flexible and scalable for use by many millions of users. Consequently, considerable thought and care, as well as informed design decisions have been devoted to the project from some of the leading experts in their fields. The scientific rigor applied to mission-critical systems such as aerospace and banking has been brought to the field of cryptocurrencies, with a high assurance implementation.

A major innovation of Cardano is that it will balance the needs of users with those of regulators, and in doing so it will combine privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access for all into fair financial services.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 71.2% 61 $41 781.93 -1.20% -2.04% $791 088 078 889 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.4% 76 $3 104.92 -3.07% -4.08% $370 163 071 496 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000442 0% 0.02% $78 349 190 476 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70% 60 $462.66 -2.57% 0.34% $76 392 115 063 BNB 7 days price change
5 Cardano (ADA) ADA Cardano predictions 76% 52 $1.41 -10.09% 16.06% $47 131 349 412 ADA 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 96% 1 $0.999818 -0.07% 0.01% $45 754 530 091 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 62.8% 81 $138.01 -1.88% -1.19% $43 357 154 185 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 69.2% 65 $0.743566 -2.42% -2.66% $35 440 659 267 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 74% 57 $77.07 -0.63% 2.61% $27 568 221 274 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 73.2% 51 $24.34 -4.48% -6.31% $24 040 494 775 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 75.2% 45 $0.166796 -2.47% 8.84% $22 128 901 943 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 61.2% 79 $84.45 -2.78% -7.81% $20 636 453 390 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 70% 63 $0.000028 -3.69% -2.92% $15 307 020 912 SHIB 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 68.4% 59 $2.08 -6.22% -11.45% $15 177 353 942 MATIC 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $0.998835 -0.12% -0.19% $14 198 835 768 BUSD 7 days price change

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