Buying Bitcoin has become a major investment since the big cryptocurrency bubble in 2017. Especially after all the testimonies of people who became millionaires at the time. Interestingly, a number of people also lost out at the time, some lost their private keys and could no longer access their wallets. Some were victims of hackers.
Although Bitcoin got popular in 2017, not everyone bought the coin at the time. The five stages of adoption principle categorize people into five classes when it comes to accepting new technology. The five classes are Innovators, Early Adopters, Early Majority, Late Majority, and Laggards. For cryptocurrency, the 'majority' stages were reached in 2017. However, events of the past few years after that has shown that cryptocurrency is here to stay. The result of this is that more people are beginning to join the world of cryptocurrency.
Buying cryptocurrency online has been made easy. As a matter of fact, buying Bitcoin online might just be more convenient for you than getting to the nearest ATM. However, in some locations in the world, the cost of mining one bitcoin is just a fraction of the amount that you’d get for the same coin in the open market. This is why Bitcoin mining is gaining more traction around the world, particularly in countries where cryptocurrencies are not strictly regulated and the total cost of mining is not as high.
If you are familiar with the world of cryptocurrency, then you’d be aware that a number of altcoins have begun to lose their luster since last year. The main reason for this, according to market surveys is that more people now prefer to buy bitcoins over alternative cryptocurrencies. This is what is referred to as “Bitcoin Dominance.”
When Bitcoin started, getting the cryptocurrency was not difficult at all. At the time, one could conveniently get a whole coin and even more. Getting commodities at the time using Bitcoin required a whole lot of coin. One BTC, at the time, was worth about 0.004 USD. The implication of this is that with one dollar, you could buy as much as 250 BTC. However, those days are definitely behind. Currently, one BTC is currently worth about 10,000 USD and not a lot of people can afford to buy a whole coin. This leaves most crypto users with only one option; buying fractions!
Rating the most popular and promising cryptocurrencies in 2019 can be done based on different criteria. The rankings are based on adoption, technology, investment reward & risk involved in the cryptocurrency. However, merging all these factors, a holistic ranking can be obtained.
Binance Coin(BNB) is the cryptocurrency of the Binance exchange. The Cryptocurrency trades with the symbol BNB and runs on the Ethereum Blockchain although there are talks about having the BNB on Binance’s proprietary chain, Binance Chain. Binance Coin runs on the ERC 20 standards and has a maximum limit of 200 million BNB tokens.
When most people got the news that Facebook was coming up with her cryptocurrency, there was some excitement in the cryptocurrency and a lot of enthusiasts looked forward to the crypto. However, from the look of things, Facebook might have hit a wall with her plans. Telegram, another big player in the social network industry has also unveiled plans to create its digital currency.
Libra is the digital currency proposed by Facebook. The cryptocurrency has not been launched. Although the experimental code of the currency has been released, Libra is to be officially launched in 2020.
Tether is a cryptocurrency from Tether Limited. Tether is a controversial digital currency and there were claims that each token was backed by one USD. In March 2019, the company changed the backing of the company to include affiliate companies.