The New Gold
MeritFin offers all traders the opportunity to trade a wide range of the top ranked digital coins 24/7. Today cryptocurrencies have become known to most people as a conventional and popular investment option. The main purpose of this new technology is to allow people to buy, trade, and invest without the need for banks or any other financial institution. Cryptocurrencies are highly volatile and can be profitable to any trader’s portfolio.
Cryptocurrencies are not physical coins they are electronic, a digital asset that remains as data. The technology behind the cryptocurrency controls a large part of its value which holds new technology on the secure way to identify and transfer money.
Cryptocurrencies are encrypted digital currencies which are transferred between peers. They are decentralized, meaning not governed by any bank or government institution. They are a sequence of encrypted codes transmitted and stored over a network. All transactions are confirmed and stored on a public ledger. The system uses other complex techniques to certify and validate the record keeping process.
The reality is such, that Bitcoin and digital currencies prices rise and drop for various reasons such as media and bad press, news events, and government statements, more people are using it and for this reason the price is rising. Their unpredictability makes it exciting for most traders. Moving forward there are discussions on how to manage the currencies and that in itself can swing the price.
There are many reasons why the digital currencies are gaining popularity and momentum around the world. They have a finite supply that has been identified and source codes outline the exact number that can exist. Users of this currency benefit differently from users of traditional currency. For example, governments cannot intervene and banks cannot freeze your account. Since there is a limit on the amount, cryptocurrencies in that sense, are finite commodities, more like metals than a currency, and with time their value could go up.
Their price flow is defined for the most part by market demand and thanks to the complicated code involved cryptocurrencies are impossible to counterfeit. They do make for a rewarding albeit uncertain investment endeavour. The long term results are still unknown but cryptocurrencies are only growing in popularity and for the immediate future they are here to stay and will most probably thrive.
This mega-powerful currency has not only opened the gate for other currencies, but also leads the cryptocurrency world with pride. It is governed to make sure no extra Bitcoin is produced, as a maximum quantity of 21 Million Bitcoin units was agreed. When introduced, the price of $1 was 1,309 BTC. The wheel has turned and when Bitcoin breached the $2,000 barrier in 2017, meaning 1 BTC was worth $2,000, it was certainly a meaningful milestone to Satoshi Nakamoto, the creator of Bitcoin.
Litecoin is similar to Bitcoin in many of its characteristics, and is also one of the more veteran cryptocurrencies out there. However, there are two main differences between Litecoin and Bitcoin; Speed and amount. While it takes 10 minutes to create a Bitcoin block, Litecoin demands roughly 2.5 minutes to create a block – meaning 4 times the speed. Moreover, Litecoin attracts many users as it can produce 4 times the quantity of Bitcoin! However, as Litecoin uses highly complex cryptography, often mining it is more complicated than other cryptocurrencies.
Ethereum is more than just a currency – it’s like one giant computer housing many computers around the globe. Ethereum can respond to sophisticated requests. Its ability to store revolutionary computer programs gives Ethereum an edge on Bitcoin and has attracted attention from banks around the world. This, among other factors, has led to a jump of almost 1000% this year! Also Microsoft and Intel—are uniting to build business-ready versions of the software behind Ethereum, a decentralized computing network based on digital currency.
Ripple can be described as the next generation of payment networks. Originally set up to engage financial industry leaders, the digital currency has been a leading technology so far. This cryptocurrency has exploded over the past few weeks, when in just one day Ripple advanced by 71%
Monero (XMR) was created in April 2014 and focuses on privacy, decentralization and scalability. It is a secure, private and untraceable currency system. Monero uses a special kind of cryptography to ensure that all of its transactions remain 100% unlinkable and untraceable. The word ‘Monero’ comes from the language Esperanto where it literally means ‘coin’.
NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China in 2015. NEO uses a unique blockchain algorithm similar to Ethereum’s model. While the basics still apply, it also supports decentralized commerce, identification and digitization of several assets.
Following our policies, we in MeritFin realize that every beginning requires extra efforts and assistance. The education takes main place in the financial world. Regarding your education we provide a wide range of educational tools and videos, so all of our clients can take advantage of the market with confidence.