Cryptocurrency! Which one is the best to invest?

In the 21st century, human life is altered totally to a new shape. All things from living lifestyle to the daily routine, almost everything has been altered. As we go back in the past, we use simple way for trading like a hand to hand cash or an asset equal to the amount. But as compared to this era in which we are living, the method of trading is totally different. Now there are many techniques and methods are available to secure the transactions. One of them is Cryptocurrency.

It is a digital currency or asset in which encryption techniques like cryptography is used to secure the transaction. It is used to generate the units of currency and to verify the transfer of funds.

There are many cryptocurrencies in the market, but some of them are notable, famous and secure. We will discuss some of them here.

1.       Bitcoin:

It is the first digital currency which is decentralized, because its mechanism works without a central bank or any single administrator. In its mechanism, transactions or transfer of funds takes place between users directly without including any third party. The process that makes it secure is the use of cryptography.

2       Litecoin:

It uses Scrypt as the hash algorithm. Its creation and transfer of funds is controlled by an open source cryptographic protocol. It is not managed by any single administrator. Its basic technical details are the same as Bitcoin. The major difference between Bitcoin and Litecoin is that Litecoin aims to process a block after 2.5 minutes as compared to Bitcoin's 10 minutes.

3      Neo:

This cryptocurrency is Chinese based in which digital assets and contracts are developed. It is formerly known Antshares. It includes DBFT (Delegated Byzantine Fault Tolerance) algorithm which is consensus procedure.

4      IOTA:

This cryptocurrency basically uses Tangle which means it stores the transactions in Direct Acyclic Graph (DAG). Tangle is alternate of blockchain which is used in Bitcoin. This cryptocurrency was designed specifically for IoT (Internet of Things). IoT means the network of things like devices, electronics which can connect with each other and can exchange data.

5       Ripple:

It is also called Ripple Transaction Protocol (RTXP). It is a currency exchange network designed for peer to peer debit transfer. The most important thing to note is that it is not based on Bitcoin. It works better when no direct exchange between two currencies is available, so it is also called bridge currency.

So, as we discussed some of the cryptocurrencies and if we notice Market Cap, it is fluctuating. It varies in cryptocurrencies. According to Market Cap and security, Bitcoin is most profitable cryptocurrency. Ripple and Litecoin are also depending on user’s choice. Enthereum can also be a good choice to invest.