CRYPTOCURRENCY : WHAT IS CRYPTOCURRENCY

 What is cryptocurrency

The phrase cryptocurrency is used to describe any virtual or digital asset that can be purchased and sent to another country or device in the form of payment. As such, cryptocurrencies represent money that has been created out of nothing — without actual fiat currency, which is usually tied to a credit or bank balance.

While many people use cryptocurrencies for everyday purchases and investments like debit cards, Apple Pay, or Google Assistant, more and more entrepreneurs incorporate these currencies into their businesses to help increase customer loyalty and revenue. Some cryptocurrencies are created by companies themselves. Others are products of technology innovators who have invented them. And some cryptocurrencies are meant to benefit individuals but can be bought with cash or credit.

Here’s a quick breakdown of various types of cryptocurrencies.

Initial Coin Offerings (ICO)

Initial coin offerings (ICOs) are cryptocurrencies offered directly to investors. Investors often purchase tokens using venture capital funds or private funds. Initial coin offerings are then sold to retail investors, via crowdfunding platforms, online exchanges, etc. It is also known as an IPO. While ICOs typically occur on the Ethereum blockchain, other blockchains may offer similar functions. The best ICO for our purposes is Solana, and it is offered through its Solana app. In addition to offering a public token that allows you to interact with your company and customers, Solana also offers pre-launch rewards designed to incentivize early adopters, thus encouraging continued usage over time. All of these features make Solano a great investment for those looking to invest in crypto assets within their business. SOL, however, does cost money — especially if you want to sell or buy tokens.

Cryptohedge, Inc.

Crypto hedge is an SEC-registered bitcoin trading platform that automates the process of creating an account and executing trades in real-time. Crypto hedge uses artificial intelligence and machine learning processes to determine profitable trades based on past trade outcomes. Users earn interest income through deposit pools and perpetual savings, depending upon what cryptocurrency they choose to trade with. This comes from users selling coins for profit to other traders who take advantage of this new coin pooling feature. The website provides extensive information regarding different cryptocurrencies to make investing easy for investors. Crypto hedge even boasts its own cryptocurrency exchange where crypto investors can swap cryptocurrencies for free! With Cryptohedge, it is possible to invest in Bitcoins without actually owning real money. When compared to traditional financial institutions, cryptocurrencies provide users with security as there is always a decentralized way to withdraw funds, unlike banks, where one central entity controls all transactions. Cryptocurrencies allow users to bypass traditional financial systems and instead receive interest on their own earned earnings or saved in their accounts. They also allow users to pay off debt instantly as opposed to taking loans. Crypto has proven itself to be an extremely successful and versatile method for investment.

CryptoTrader

CryptoTrader is an SEC-registered brokerage service that allows traders and buyers to meet in person and connect over social media platforms to create personalized experiences. Traders set up trade accounts, send daily updates, submit market analysis reports, and much more. Their product will give users access to comprehensive data about different cryptocurrencies so that they can spot trends and value opportunities in a very efficient. People who wish to sell cryptocurrencies for-profits should sign up for CryptoTrader. The interface also gives users full control over their trade strategy and the entire ecosystem. Through CryptoTrader, anyone with an internet connection can participate in a wide range of crypto trading activities.

Sola Crypto.

Sola Crypto is a peer-to-peer community built on Ethereum that provides developers and traders with a centralized hub for listing coins and supporting communities. Anyone, anywhere can build their own marketplace to easily list coins and engage in conversation with others. Sola’s team members work closely with government agencies across the globe to further expand their vision and deliver a seamless experience. Sola Crypto is a multi-platform project with hundreds of partners around the world. Currently, the platform boasts a roster of over 40 projects and is open to everyone, regardless of expertise. At present, Sola Crypto is listed on four major US exchanges — Bittrex, Coinbase, Mercatox, and Bitsquid.

Ether

Ether is the second-largest cryptocurrency after Bitcoin. Created out of non-fungible elements called Etherzones, ether is the most popular cryptocurrency throughout 2018. Each coin in ether holds a fixed amount of Ether. Its total supply is limited at 50 million Ether. To convert ether to cash, you must hold ether to a specific price. As per the Ether Whitepaper, 10 billion Ether will circulate throughout 2020. Although Ether has a finite number of transactions, this means that you can only spend Ether, never buy or sell it back. As ETH has become a mainstream currency, people are buying and holding the currency for future payments. If Ether went down, it would affect every investor around the world. This is because when Ether goes down, prices go straight up. That means the value of Ether goes up and ups, which creates an incentive for investors worldwide, resulting in higher stock prices.

Litecoin

Litecoin was founded in 2011 in New York City as a meme coin named WIRED. Litecoin quickly became a meme coin which became one of the top ten of the year. After being added to several social networks, Litecoin won its first award for Best Digital Asset of 2017. Lately, Litecoin has gained popularity and become one of the first cryptocurrencies to surpass $10.00 in March 2019. Litecoin has witnessed massive growth since being listed on the Nasdaq exchanges. Litecoin also had a stellar rise in value since going public on September 21st. Litecoin is now listed on exchanges like Overstock and HitBTC. Currently, Litecoin is listed on five major markets including NYSE Arca, NASDAQ, FTC, and NASDAQ. Litecoin holds a maximum supply of 51,000,000 Litecoin. Although Litecoin is currently the third-largest currency after Bitcoin, Litecoin holds several advantages over Bitcoin. First, Litecoin holders have better protection against cyberattacks, theft, and fraud. Second, Litecoin has no physical requirement, meaning that Litecoin holders do not need equipment or hardware to keep Litecoins. Thirdly, Litecoin holders do not need a large storage capacity in order to hold larger amounts of Litecoin at once. Lastly, Litecoin holders’ wealth can only be insured by the Federal Reserve system for risk protection. By comparison to Bitcoin, Litecoin holders’ wealth cannot be insured. Litecoin also has a low-risk profile as Litecoin will not lose its value overnight. This means Litecoin holders do not need high financial stability to survive in case of loss. Unlike Bitcoin, Litecoin is not susceptible to inflation like real-world currencies. Litecoin has therefore been referred to as “digital gold”. Litecoin holders tend to get rich quicker than most individuals. Litecoin is also the second safest coin when compared to current assets like gold. Since Litecoin is backed by the U.S. dollar, Litecoin is considered to be safe in the American economy. Most analysts predict Litecoin to maintain its status of being the next big coin before Bitcoin. Litecoin is also well secured to bootstrapped businesses with no risk of losing its price. Litecoin could be seen as a store of value rather than a speculative asset.

Sterling

The sterling is the sixth-largest financial currency in the global market after the pound sterling. Sterling is one of the oldest currencies in history, dating back from the late tenth century. According to official records, sterling first appeared in 1373 in England. During the reign of Henry IV, he introduced the system of debenture payment into Britain. From 1453 till 1603, British merchants relied heavily on paper currency and silver. However, sterling was banned during the reign of Charles I by Pope Alexander VI in 1583. Due to the ban, the circulation of sterling declined significantly. The banning reduced the value of silver to 1p in 1613. For eight centuries until 1715, sterling was valued at 5p worth. Even though the banning reduced the value of the Sterling, there was still a lot of demand for sterling at that time. However, since sterling was devalued over the course of 8 decades, the value of the precious metal dwindled. This led to a decline in the value of sterling, causing the value of sterling to tumble until it reached a record low of 0.3p in 1832. Due to the sharp fall in sterling, the value eventually recovered to the same level as it was during Shakespeare’s rule. Following Louis XIV’s decision to re-open the mint in France, the value of silver fell again. The silver value dropped by almost half over the following decade. After the French Revolution, the values of silver dropped again. However, despite the decrease in values over the years, many analysts predict that the value of the precious metal will reach its highest levels in 2014.

Luxury items

Luxuries consist mostly of luxury items such as jewelry, furniture, fixtures, clothing, travel souvenirs, cars, and fine art. Luxe item sales have increased rapidly in recent months. A report by Statista states that in the United States in the period between the start of October and May, luxury consumer spending rose by 12 percent to $17.25 billion. This is according to a survey conducted by Statista and Pew Research Center last year. Another study carried out by Zillow confirms that luxury goods sales in the U.S. rose by 23 percent in July from a year ago. Many factors contributed to the surge in luxury items sales. The introduction of smartphones came into play in October 2018. These smartphones were used for communication between consumers and retailers. Before that, iPhone users had no reason to upgrade.