The Rise of Cryptocurrencies

crypto

The term “crypto” refers to any technology-backed digital currency. It is a decade-old asset class that has produced astronomical returns over the years. Some investors are using these digitally coded tokens as a hedge against inflation. This asset class is high on speculation and volatility, but there are multiple reasons why it is destined to become mainstream. Let’s take a closer look at each of these assets. Read on to learn more about the underlying technology.

Bitcoin

As one of the most popular digital currencies, Bitcoin has seen a tremendous surge in popularity. This rise was fueled by its record-breaking gains in the first half of 2021 and Twitter mentions from public figures such as Elon Musk and Mark Zuckerberg. SpaceX recently announced plans to send a Dogecoin-based cryptocurrency to the moon. And while it is difficult to say when the cryptocurrency will hit its peak of popularity, it certainly has the potential to become one of the most popular assets of the 21st century.

Filecoin

If you’re interested in learning more about crypto currencies, you’ve probably heard about the Filecoin project. The Filecoin crypto project is a protocol for sharing decentralized data. It’s based on the InterPlanetary File System (IPFS). It has only been available on a few trading platforms, but if its momentum continues, it will likely appear on other exchanges. If you’re wondering why Filecoin is important, you’ll want to keep reading!

Ether

To purchase Ether, you’ll need to find a cryptocurrency exchange. Once you’ve done that, you’ll need to choose a crypto wallet, or custodian, like Gemini. These wallets store the private keys necessary to send and receive cryptocurrency payments. Unlike a physical wallet, anyone with access to your Ether wallet’s private keys will have control over the currency in the wallet. There are two kinds of wallets: “hot” and “cold.”

Ripple

The SEC’s case against Ripple could significantly alter the shape of the crypto industry. XRP and ethereum were rivals for dominance of the crypto market and the SEC’s action will likely increase regulation of the crypto market. The SEC is already the primary regulator of the cryptocurrency industry, and a ruling against Ripple could result in massive disclosure. Whether or not the SEC’s case will be successful remains to be seen.

Litecoin

If you are looking for an alternative to Bitcoin, you should consider Litecoin. This peer-to-peer cryptocurrency has a similar structure and is released under an open-source MIT/X11 license. Litecoin was launched in October 2011 and is a spin-off of the bitcoin project. The two coins are nearly identical in terms of features and design. But there are a few key differences. Read on to learn more about the two currencies and how they can benefit you.

XRP

Ripple has been accused of misleading advertising and failed to disclose the fact that exchanges were paid to list XRP. However, the SEC has successfully pursued actions against BitConnect and Binance Holdings, resulting in punishing financial penalties and dramatic declines in the token’s valuation. Moreover, Ripple argues that the SEC’s guidance is conflicting and erroneous. This could lead to a rally in XRP crypto.