A cryptocurrency is a digital currency created and held electronically. Bitcoin and its friends are the most popular and most funded cryptocurrencies today. However, the security of cryptocurrencies has always been a concern. Bitcoin is the most used cryptocurrency today, but the value of bitcoins stolen by hackers rose to an all-time high of just under 125 million or $168 million in December 2017.
As with any new technology, cryptocurrencies have been both praised and criticised. Some of the main arguments against them revolve around their volatility, lack of support by financial institutions, lack of clarity on their legality, and their direct connection to the dark web. There is no denying that the recent price spike in the crypto market has attracted more attention to the growing popularity of this alternative type of money.
Bitcoin has been around for nearly a decade, and its popularity has grown over the years. The fact that it is open-source and decentralised allows for nearly-unlimited flexibility and customisation, with new features being added almost every month. As an example, you may have noticed that some countries have facilitated the option of a Bitcoin ATM where one can buy or sell bitcoins for cash. That said, the first thing many people think about when it comes to Bitcoin is its price. Although this is important, this is not the only reason people use it.
In 2017, Bitcoin’s total market cap reached over 85 billion, or $115 Billion, and had continued to grow in 2018 so far. Bitcoin is probably the most famous cryptocurrency out there, and for a good reason: Since the beginning of 2017, Bitcoin has seen a steady rise in value and has been growing at an exponential pace. You may have heard the term cryptocurrency being thrown around, but do you know what it is? Bitcoin is one of the most popular cryptocurrencies, but it isn’t the only one. There are thousands of different cryptocurrencies in existence, each with its own unique set of benefits.
Bitcoin was the first and biggest cryptocurrency to pop up on the scene. It was created in 2009 and has even been called a “cryptocurrency,” a digital currency that is supposed to be secure and anonymous. Due to its massive success, lots of copycats have popped up to try and knock it off its throne, but none have succeeded yet.
The cryptocurrency market is heating up, with new currencies popping up every week and most of them trying to follow in the footsteps of Bitcoin. Some of these currencies are worth your attention, while others do not significantly impact the market.
It’s not easy to predict the future, but some predictions are so powerful they can shape it. When it comes to the future of cryptocurrencies, many have been making bold claims about which blockchain project will be the one that ends up replacing Bitcoin. Some claim Ethereum is the one to beat, while others believe that the likes of NEO and Qtum are the way to go. No matter which one you believe, it’s important to have a solid understanding of the situation.
One of the most frequently asked questions about Bitcoin is whether a new and better cryptocurrency will replace it. But, it’s a question that is difficult to answer since Bitcoin is still the king of the cryptocurrency world. And, while many Bitcoin alternatives have already sprung up, they are considered speculative investments and are not yet widely used.
So, which one will it be?
Will it be Ethereum, Ripple, or Litecoin? Or perhaps Dash? Nobody knows for sure, but speculators are sure to be looking into them. The hype around Ethereum and Ripple has led many to think it will be the one to replace Bitcoin, while Litecoin and Dash have been the silver and gold of the crypto world, respectively. However, the crypto world is short on certainties at the moment, and these predictions are sure to be volatile in the coming months.
The market changes so quickly, and with so many new coins entering the market every day, it can be hard to keep track of what is going on, especially if you’re interested in the price of Bitcoin. For example, it’s been six months since the Bitcoin VS Ethereum Scam took place, and Bitcoin’s price has plummeted from 14,000 – 5,000, or $19,000 to $7,000. In that time, many other coins have entered the market, but Bitcoin is still the original and largest cryptocurrency.