Cryptocurrency has hit an all-time market capitalization peak of over 1.2 trillion in the past few months. Banks and virtual currency traders are realizing that cryptocurrency is slowly taking over world trade.
Investing in digital currencies may have the potential to increase your earnings as digital currencies become more popular. This short guide will give you the ins and outs of what digital currencies are circulating and how to access those currencies.
Types of Digital Currency
The state of digital currency is skyrocketing in interest and value. But, the current state of this currency is seen as volatile due to the frequent rise and fall in value.
Regardless, every single week new investment options are opening up in our US digital currency. Blockchain startups are also following suit in providing ICO’s or Initial Coin Offerings. The federal government and the Securities and Exchange Commission are also laying out plans to help regulate these offerings as well.
You can store currency in digital wallets that allow you to secure an identification number. The China digital currency works with similar methods as well. This site can give you more details on securing your digital currencies.
Bitcoin & Ethereum
Bitcoin is one of the leading cryptocurrencies on the market. The market capitalization of Bitcoin is reaching well over $500 billion. At this current moment, each coin is reaching peaks of $4,000 in price.
There are around 20 billion BTC in circulation, and this number continues to increase. There were once rumors of other coins Flippening or usurping its position. But, Bitcoin remains the top contender in the market.
Ethereum follows as a close second. Ethereum is known for coining the term ICO, as its introduction gave rise to initial coin offerings. Its market capitalization is reaching well over 50 billion, still far below Bitcoin.
Though it’s far below Bitcoin, it is a top contender, with each token trading for around $500. Over 100.7 million ETH tokens are currently in circulation.
Ripple & Bitcoin Cash
Ripple is rising in the ranks despite its smaller price point. Each XRP is only $0.60 per token. This brings its market cap value at just over 20 Billion dollars.
But, the positive side of XRP is that there are several tokens on the market. This means the tokens are high in circulation—over 35 billion tokens are on the market at this moment.
As a result of a hard fork, Bitcoin Cash grew high in the cryptocurrency ranking system. Bitcoin Cash was a spin-off of Bitcoin that began appearing in digital currency news.
There are around 18 million BHC circulating, and the number continues to rise. Allowing the market cap, as of now, to reach around 15 billion. As of this moment, The Bitcoin Cash tokens are reaching $900 per token.
Digital Currencies such as Ethereum and Bitcoin are seeing a 100 percent in profits and value. It’s clear that these digital currencies are growing in value and will potentially become an important part of the future of trade.
The currencies continue to evolve as investment firms develop more technology to mine and secure these digital currencies. Though the markets continue to experience volatility, it’s wise to consider investing before the markets become more expensive.
Follow our blog for more information on trending digital currencies and the new ways to invest in the growing market!