Cryptocurrency explained: Blockchain, Investments & Co.

Cryptocurrency is nothing more than digital money. Here, all the important data around the holder and transaction is encrypted and stored. Instead of storing all this on just one server, the transactions are found in a decentralized network – also called: The Blockchain. This technology makes transactions faster, more secure, and less expensive than they would be otherwise. Sounds like the future? Read our analysis here: cryptocurrency development.

No investment advice or purchase recommendation!

All information provided here does not constitute investment advice or a recommendation to buy. All statements are my general published opinion. I have obtained the information from my experience as a private investor. This experience report cannot and is not intended to replace personal investment advice from professionals.

Owning and trading cryptocurrencies brings many advantages. Transactions take place directly between the buyer and seller. It is a decentralized network. So, unlike a bank transfer, exchange and bank fees are eliminated, as are transfer limits and unnecessary waiting times. Bitcoin trading is therefore not only uncomplicated, but also anonymous and secure. Instead of the own name, all crypto assets are managed with an identification code. The blockchain technology also ensures that transactions are constantly checked in advance, making any manipulation and forgery almost impossible. Learn more about the technology, course and trade explained here: BitCoin, cryptocurrency & blockchain.

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Trading with Bitcoin, Ethereum, Litecoin & Co.

The cryptocurrency Bitcoin is now a household name. It is the most popular, but by far not the only one. In the meantime, several new creations have emerged. Some of the others are Bitcoin enhancements. Thus, there are now over 4,500 cryptocurrencies. While that sounds like a large amount, only just under 100 of them achieve a daily trading turnover of $1,000 or more. Other popular cryptocurrencies are Ethereum, Ripple and Litecoin.

Cryptocurrencies – List

Here you can find a selection of interesting digital currencies:

Binance Coin (BNB)

• Binance Coin (BNB)

Bitcoin Cash (BCH)

• Bitcoin Cash (BCH)

Bitcoin (BTC)

• Bitcoin (BTC)

Cardano (ADA)

• Cardano (ADA)

Dash

• Dash

EOS

• EOS

Ethereum

• Ethereum

Ethereum Classic (ETC)

• Ethereum Classic (ETC)

IOTA (MIOTA)

• IOTA (MIOTA)

Litecoin (LTC)

• Litecoin (LTC)

NEO

• NEO

Ripple (XRP)

• Ripple (XRP)

Stellar (XLM)

• Stellar (XLM)

Tezos (XTZ)

• Tezos (XTZ)

TRON (TRX)

• TRON (TRX)

ZCASH (ZEC)

• ZCASH (ZEC)

Questions and answers: cryptocurrency

So now you know what the blockchain technology is, what cryptocurrencies there are and what advantages trading Bitcoin and Co. brings with it. Finally, you will get all the important questions about trading with cryptocurrencies answered:

Which is the best cryptocurrency?

The best cryptocurrencies include the classic Bitcoin, as well as IOTA, Ripple, EOS, Litecoin, Binance Coin and Tether.

Which cryptocurrency has a future?

According to forecasts, Bitcoin, Ethereum, Ripple and NEO have the most potential to increase in value in the future.

Are gains from cryptocurrencies tax-free?

The speculation period for cryptocurrencies is one year. If a profit of 600 euros or more is made during this period, the total profit must be taxed. So if the coins are left in the wallet for at least 12 months and only paid out after the speculation period, no taxes are due.

Should you invest in cryptocurrency?

Only invest in cryptocurrency if you are familiar with blockchain technology, different currencies and wallets. After all, this is a decentralized network based solely on demand. So always be aware of the risks and only invest if you are really sure and familiar with cryptocurrency trading.

Cryptocurrency: reading tips

1. Trading App: Recommendation
2. Trading strategies

Trading App: Recommendation

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• Trading App

Trading strategies

Whether it’s crytocurrency, currency trading, stocks, commodities or precious metals, these 3 strategies will help you understand the basic stock market game. I developed these 3 strategies to help beginners and novices understand the mechanics in a nutshell. Since I grew up with Bitcoin rather than stocks, here in particular a strong reference to digital currencies. But the mechanisms or strategies are the same for these 5 investment types: crytocurrency, currency trading, stocks, commodities or precious metals. I would exclude ETFs and index funds, as the risks and price fluctuations are significantly lower here.

• Trading strategies

Did you already know? Open transactions in the blockchain

Cryptocurrency itself is, simply put, a coded chain of data. The so-called blockchain.

How does cryptocurrency work?

Everything is set up as a P2P network (peer-to-peer). Data is therefore stored in a decentralized manner. All data blocks are linked to that of the predecessor. Within this distributed database, all transactions are actually known!

The whole thing is therefore a network in which cryptographically signed messages are published – technical term: blockchain. You want to have a look at these transactions? Here you can see live how individual trades sometimes sell up to 100 Bitcoins and how sums in the millions go over the table:

• Bitcoin transactions – live on blockchain.com
• Ethereum transactions – live on blockchain.com

Litecoin (LTC): Facts, Figures & Price

So you want to invest in Litecoin? Nothing could be easier! As a digital currency, you can use Litecoin to pay for services and goods. The cryptocurrency is also very popular as an investment and in currency trading. Just like Bitcoin & Co., it is also based on modern blockchain technology.

BitCoin, cryptocurrency & blockchain? What does it mean? Learn more about BitCoin, Cryptocurrency & Block Chain here!

The special thing about Litecoin: The hash algorithm Scrypt allows an increased transaction speed – and that while the integrity of the blockchain is still guaranteed! What does this mean? Quite simple: While the processing time for one block is about 10 minutes for Bitcoin, this takes only 2 minutes and 30 seconds for Litecoin! So the mining of the blocks takes place faster and your transaction is quick and easy.

Here are all the facts and figures about Litecoin (LTC):

• Currency: Litecoin (LTC)
• Inventor: Charlie Lee
• Publication: 2011
• Consensus Algorithm: Proof of Work
• Blockchain Size: 33 GB

Intraday (current daily price during the course)

The current Litecoin price during the day.

Month: 30 days review of LTC

Here you can see the Litecoine rate for the last 30 days.

Year in progress: 12 months

Here you can see the Litecoin rate for the last 12 months.

Total runtime

Here you can see the Litecoin rate for the entire term.

Crypto Alternatives: Bitcoin, Ethereum and Ripple

There are now over 4,500 cryptocurrencies. While that sounds like a large amount, only just under 100 of them achieve a daily trading turnover of $1,000 or more. Other popular crypto alternatives to Litecoin include Bitcoin, Ethereum and Ripple! You can find out more about each cryptocurrency here.

Bitcoin (BTC): pioneer of cryptocurrencies

Bitcoin, or BTC for short, is now not only the best-known cryptocurrency in the world, but is also considered the first cryptocurrency ever. The first digital currency was invented by Satoshi Nakamoto. Who is behind it is still a mystery today. One thing is clear, however: Bitcoin has revolutionized the financial world forever.

• Bitcoin

Ethereum (ETH): Second generation cryptocurrency

Just like other cryptocurrencies, Ethereum is based on state-of-the-art blockchain technology. Ethereum itself is not a pure cryptocurrency, but can be used for blockchain projects of all kinds. As a decentralized ecosystem, Ethereum is therefore also often used as an open protocol for decentralized applications, such as smart contracts. Ethereum’s own cryptocurrency is called Ether – ETH for short.

• Ethereum

Ripple (RXP): Open-source protocol for international payment transactions

With the XRP Coin, Ripple is also considered a digital currency, but compared to other cryptocurrencies, it is not based on the blockchain. Ripple sees itself more as an open-source protocol for a payment network. The goal: to make international payments cheaper, faster and more efficient.

• Ripple

Cryptocurrencies: List

BitCoin, BitCoin Cash, Ethereum, Litecoin, Dash, Ripple, Zcash or Binarcy Coin: they are considered the answer to traditional means of payment. The digitization and decentralization of money makes banks superfluous. Only buyers and sellers are responsible for the control and security of their digital money. You too want to invest in Bitcoin & Co? We have an overview of the most popular cryptocurrencies here.

• Cryptocurrencies: List