A cryptocurrency is essentially a virtual currency secured by cryptography. This cryptography makes it so secure that it is nearly impossible to double-spend or duplicate it. These days it is all over the financial & trading news. Cryptocurrency is a decentralized currency designed to be free from government manipulation and control. Altcoins are currencies other than bitcoins that came into existence after Bitcoin. In spite of the fact that they may be considered better and newer versions of Bitcoin, none of them can match the security of Bitcoin.

In addition to Bitcoin, other important currencies include:

Ethereum (ETH)

Launched on 30th July 2015, one of the best alternatives to Bitcoin is Ethereum. With Ethereum, developers can create decentralized apps without the worry of fraud, interference, or control from a third party. It is claimed that Ethereum is capable of coding, decentralizing, securing, and trading just about anything.

Litecoin (LTC)

This particular cryptocurrency was launched in 2011 and was among the first cryptocurrencies after Bitcoin. Bitcoin is similar to Litecoin in many ways, but Litecoin has a faster block generation rate which causes it to have a better transaction confirmation time. Litecoin produces four times the number of blocks as Bitcoin, ensuring four times the number of coins, and has the advantage of speed and ease of acquisition over Bitcoin. However, the mining hardware used by LTC requires significantly more processing power.

Stellar (XLM)

Stellar is a decentralized, open-source protocol for digital currencies, a growing network. It allows regular low-cost money transfers and cross-border transactions between any pair of currencies. The open blockchain network of Stellar provides enterprise solutions for large transactions by connecting financial institutions. Transactions between banks and investment firms have traditionally lasted for several days. They involve many intermediaries, cost a lot of money, can now be done almost instantly with no intermediaries, and at little or no cost to those involved.

Cardano (ADA)

Cardano launched in 2017, but within this limited time, it has become one of the top digital currencies of the world. Essentially, Cardano is a better version of Ethereum. This blockchain platform has the goal of providing banking services to people who do not have bank accounts. Engineers, mathematicians, and cryptography experts developed Cardano as a research-based cryptocurrency.

Binance Coin (BNB)

Binary Coins are cryptocurrencies used on Binance’s cryptocurrency exchange to trade and pay trading fees. Binary Coins was launched in the year 2017 as well. BNB now is the native currency of Binance’s blockchain – the Binance chain was based initially on the Ethereum network.

Tether (USDT)

Tether was one of the first of what are called stable coins. Stablecoins are coins that remain stable because they are associated with assets whose values do not fluctuate much. Most digital currencies, even major ones like Bitcoin, have experienced dramatic volatility frequently. USDT’s price is tied directly to that of the U.S. dollar to maintain its stability. This system makes it easier to convert cryptocurrencies to U.S. dollars. It makes transactions in a more timely manner than actually converting to regular currency.

It is easy and safe to spend money on cryptocurrency as long as you do your research well. Cryptocurrency is a growing currency, and investing your time and money in it will prove beneficial to everyone who does it. You can use the crypto portfolio app to buy and trade in cryptocurrencies.

A crypto portfolio manager helps you manage your portfolio and trade in cryptocurrencies safely. You can buy and sell your coins through an app without worrying about the safety of your details.