Which Cryptocurrency Is Profitable In Any Market? Bitcoin, Litecoin, Other Forks
Just a few years were enough for the world community to accept and duly appreciate the absolutely new concept of a cryptocurrency. Digital money served as a foundation for the quick formation of an impressive lylarge-scale market, a full-fledged cryptoeconomy, and a new ideology of money. Bitcoin as the fundamental element, Litecoin and many other cryptocurrencies are appealing due to their advantageous and attractive prospects, as well as high profitability. This has led to the formation of a 15-billion currency market built by new laws and principles.
Cryptocurrencies: History And Development
It all began with a previously unknown group of coders that called themselves Satosi Nakamoto. They developed the first-ever cryptocurrency, Bitcoin. A whole range of peculiar idealist features of
the digital money were voiced: in particular, using them as an online means of payments without any transaction fees, control or intermediaries.
It comes as no surprise that initially the business world failed to duly appreciate such an initiative. Bitcoin and its successor Litecoin received the initial development impetus from small marginal groups or mere fans of various new but profitable ideas. Bitcoin did seem as such at first glance. Later, there emerged various movements that were trying to employ cryptocurrencies to their advantage on a much larger scale. The veryidea of distributed calculations and the use of distributed networks had been appealing to many users even before. Of course, mining as the way to earn cryptocurrencies sparked their interest, too.
The profitable and promising idea of Bitcoin and Litecoin appealed to various startupers. The shadow business, especially all kinds of arms and illicit goods traders, demonstrated the greatest interest in the cryptocurrencies. Indeed, no other currency was so out of control of the state structures of any country of the world. To top it all, the very idea of uncontrolled digital money appealed to various anarchists and sociopaths. For them, it was the best way to undermine the very foundation of the capitalist order of the present-day world.
Some time later, profiteers and participants of the world finance market noticed the huge profit-making prospects of cryptocurrencies. For them, the first kind of digital money and the subsequently developed forks (primarily, Litecoin) became the best instruments with incredible profitability.
Over 50 online exchanges already offer their services to those who wish to become a participant in the growing cryptoeconomy and in the trading in the cryptocurrencies market. To determine which of them is the most profitable, one should check out the list of available digital money and the possibility of purchase bitcoin with credit card. At present, the largest exchanges are BTC, BTC China, and Bitstamp. All of them provide the opportunity to trade using with various currency pairs, including the main cryptocurrency, Litecoin and other forks. You can trade one cryptocurrency for another, or for fiat money.
The interest towards digital money is fueled by its incredible value growth. For example, Bitcoin has grownfrom the initial 5 cents to the unbelievable $1,000, which is why it’s also called “digital gold.” Informally named “digital silver,” Litecoin is also growing rapidly, although with a lesser zest. Nevertheless, all this is incomparable with stock exchanges, where a crazily profitable 5500% value growth within a year is simply impossible.
With the large-scale inflow of real money into the market of cryptocurrencies, the trading volumes have surged. Nowadays we already talk about billions. For instance, Worldcoin can boast of a capitalization equal to $16 billion. Having grown in price 30-fold, Megacoin is estimated at $30 million. The above-mentioned forks are just the best cryptocurrencies of Bitcoin and Litecoin. At the moment, we can already talk about the top-ten digital money systems with the largest capitalization, which have proved their profitability and are enjoying popularity.