Invest In Cryptocurrency In 2018
IOTA is one of the most ambitious projects in the field of cryptocurrency. Its objective is to incorporate virtual currencies to the internet of things and it does not include the blockchain technology used by most currencies of this type. IOTA is based on Tangle technology , which in theory is much more scalable, faster and lighter than blockchain.
Known as China’s Ethereum, its future will be linked to what the Asian giant decides about the future of cryptocurrency. The Chinese government has already announced greater control over the sector and banned the ICO at the time.
Litecoin is one of the veterans in the sector. Created in 2011, it sought to reduce transaction time with respect to bitcoin.A Bitcoin image, Litecoin limit is 84 million coins of which there are already about 55 million in circulation.
Reddcoin or RDD is one of the low cost cryptocurrencies. It defines itself as a social currency and its use is limited to social networks. Reddcoin has its own platform to give tips on social networks that can be used on Twitter and Reddit.
Monero is the criptodivisa anómina. With it the details of the coin transaction can not be traced. That is its main strength against other options and what gives it value.
There are mainly two ways of investing in cryptocurrencies : buying cryptocurrencies or mining them. The first option is the most usual and also the most accessible. Alternatively you can use Bitcoin Cash ABC Wallet.
Buying a virtual currency is not that different from investing in commodities, for example. What changes is the platform through which it is made. And it is to invest in cryptocurrency in 2018 there are specialized websites and their own cryptocurrency purses, which is where the cyber coins are kept.
Wallets for cryptocurrencies
There are several types of purses for virtual currency depending on its operation and security. Ordered according to security would be the following:
Cold wallets. It is hardware or a physical device where coins are stored. It is the most secure against theft, but also the least practical when making transactions.
Portfolio Applications. It is a software that simulates a portfolio and which is accessed after downloading the program from your computer.
Online portfolios. They are the most widespread. They are accessed online through the Internet, without having to download anything. Their main advantage is that they are very practical when making transactions.
Exchange houses. They are the banks of cryptocurrencies and they work in a very similar way to a broker. It is, without a doubt, the simplest way to buy and sell cryptocurrency.
What concrete purse to choose? It will depend first of the virtual currency you want to buy, since not all accept all currencies. Alternatively you can use Bitcoin Cash ABC Wallet.
The second way to invest in cryptocurrency is to mine cryptocurrencies . In other words, join the group of people that seeks to solve the mathematical algorithms that will give you a frangmento of the digital currency that you are mining.
The most repeated question at this point is how to mine cryptocurrencies, what it takes to become a virtual miner. To start you will need a machine, a computer. In theory, any computer serves but in reality, if you want your activity to be profitable you must have a specialized machine .
The more value you have the currency you want to mine, the more power the machine will need, the more electricity it will consume and the more noise it will produce. The reason is that there are many more mining and if your machine is not powerful or you do not have many machines, it will not be profitable because you will spend more energy to get it than you will get to mine.
In recent times an alternative has arisen to mine cryptocurrencies without a computer. It’s about cloud mining . In this case what you do is to hire the power of mining that you want in a mining farm. The greater the power, the greater the profits. So, instead of having equipment in your house dedicated to mining cryptocurrencies, you pay because they are elsewhere. Obviously, the performance will be lower because you will pay the Cloud Mining company because you rent the machines or, rather, they give you mining power.