More About Cryptocurrencies
The first decentralised cryptocurrency, bitcoin, was invented in 2008 by the pseudonymous Satoshi Nakamoto who sought a peer-to-peer electronic cash system which doesn’t require a central governing authority or administrator. A cryptographic mechanism combined with blockchain technology is used to control the money supply and transactions in the Bitcoin network.
After bitcoin, numerous cryptocurrencies were established of which most use the same (or similar) blockchain technology as bitcoin. Today, the most prominent cryptocurrencies are bitcoin, ether (ethereum), ripple (XRP), litecoin (LTC), ethereum classic, and dash.
Since inception, some of the most prominent cryptocurrencies have achieved unimaginable gains. For example, on June 12, 2017, bitcoin (at $2975) had returned more than 371 million percent on an original investment made in 2010 at a price of $0.0008.
Cryptocurrencies are extremely volatile and exciting instruments to trade. Make sure you team up with the right cryptocurrency broker to leverage your chances of success!