How simplified and practical will it be if buying, selling, trading, mining and every other function of cryptocurrencies is accomplished within a single 100% Democratic system! This level of organization is possibly the best solution to the current convoluted state of the crypto markets.
People are opening their first crypto accounts and joining the cryptomania. There is information and misinformation about the 1000+ different cryptocurrencies. Cryptoan helps fill in the blanks, offering you clear explanations on sorting out the chaos– right here in one location.
If you’re like most newbies, you’ve joined or downloaded the Coinbase app and started there. We recommend Coinbase because you can exchange your fiat USD for cryptos, and then you can also trade on their exchange.
But you will not be sharing in their profits. You will not have a vote in the direction of the organization…
We also recommend Cryptopia for more extensive trading, since Coinbase currently allows you to buy and sell just three major cryptos…
BTC is now being called a “store of value” as opposed to a currency. It’s certainly not for everyday transactions, because the idea of having 100,000 computer nodes updating the blockchain every time someone buys a cup of coffee is ludicrous. Engineers call this problem “the scaling crisis.” Bitcoin’s network can currently only process 3 to 7 transactions per second worldwide, which makes it fundamentally unusable for everyday consumers. To put that into perspective, this holiday season Visa will be processing 60,000 transactions per second.
This is the platform for us true believers (Cryptoans) – it’s a massive project that some users would refer to as a DAPP or Decentralized Application. The idea is that purchasers of ether can apply the tokens like credits to obtain distributed computing power on the global web – when it works, it will be a Linux-esque challenger to centralized cloud computing like Amazon Web Services. The technology is said to be far from ready for wide-scale adoption, but you know developers are working diligently on issues holding back wide-scale adoption… so far.
This crypto-currency that could potentially be the solution to Bitcoin’s transaction weakness, although it’s too early to tell if the platform will achieve success. You can also buy and sell LTC on Coinbase because LTC was invented by Charlie Lee, who is the head of engineering at Coinbase (he invented the coin while at Google / Youtube as a side project).
Litecoin is “lighter” than Bitcoin as its blockchain gets rid of a lot of the unnecessary information in the lines of code when a transaction takes place. It is also a blockchain where innovative things are tested out before being applied to BTC. I urge you to read more about Litecoin, now supported on the Coinbase platform.
Bitcoin Cash is also reported to be a solution to the scaling crisis of Bitcoin, as it is a more streamlined blockchain to effect and record smaller transactions. It’s extremely popular in Asia, where the developers, engineers and miners successfully lobbied the world Bitcoin community from.
You can follow all the real-time prices of these things at Yahoo Finance’s new cyrptocurrency page here.