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Bitcoin and other cryptocurrencies. Pros and cons

by Danny white

Cryptocurrency is a digital currency that is kept in an e-wallet. Today, there are alternatives to cryptos, and choosing the best one is difficult without researching and the details are represented at BitMix https://bitmix.biz/en.

Bitcoin

The cryptocurrency is the most popular among investors and the value of other virtual money. It was started in the 2009 year for the security of fees. Bitcoin is oriented to democratic transition, the anonymity of banking operations, and no necessity for the national banks. The significant advantage is the well-known all over the world; the important disadvantages are low speed of banking operations and the proper equipment for mining.

Other cryptocurrencies

Bitcoin Cash is a virtual currency that has been broken away from Bitcoin because of diverse views of crypto improvement in the 2017 year. The maximum block length is 8Mb as a result it handles more banking operations. The main benefit is the fastest banking operations; the big downside is required the proper equipment.

Ripple or XRP is a crypto of payments network RippleNet taking advantage of money management organizations and banks like American Express. The preference is fast banking operations; the problem is using RippleNet without ripple (the token of Ripple).

Stellar or XLM is a fee network that may process banking operations in several currencies similarly RippleNet. Lumens are coins of Stellar and protect from spam. The important advantages are structuring with banking system and processing banking operations in several exchanges; the significant disadvantage is unpopularity among other cryptos.

Ethereum or ETH is a crypto that allows coding and launching decentralized apps. Ether is token of ETH and eliminated during the processing of banking operations. The main benefit is the high speed of banking operations; the big downside is unlimited supplies resulting in inflation.

The variations among cryptocurrencies are relevant to commercial interests because it gives the main clues concerning the value of each crypto and its changing during the time.