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Which Cryptocurrency is Right for You?

Posted on March 23rd, 2018 by EM Search Consulting

Delving into the world of cryptocurrencies can be a bit intimidating if you’ve never done so before. Until late 2016, Bitcoin was the cryptocurrency of choice, making it a no-brainer when it comes to investing. But now, you may find yourself wanting to buy Ethereum in Los Angeles or another cryptocurrency like Litecoin or Bitcoin Cash. If you’re not sure which cryptocurrency is best for you, this blog post may help.

Bitcoin (BTC)

The most popular cryptocurrency on the market, Bitcoin is the closest currency to state-minted currencies. Because it’s the most common cryptocurrency, it’s also the most versatile. You may use Bitcoin to trade internationally, and the transaction fees are generally lower compared to other transaction fees. It can be traded for other currencies, both virtual and traditional. If you’re looking for a widely used cryptocurrency, consider Bitcoin.

Ethereum (ETH)

If you’re looking for something beyond a digital currency, consider buying Ethereum in Los Angeles. The platform itself is blockchain-based and it features smart contracts such as the Ethereum Virtual Machine (EVM). Its currency is called Ether and the system is for peer-to-peer contracts. This means there’s a decentralized way to verify and enforce Ethereum’s facilitation. While Bitcoin is more stable, Ethereum aims to encompass more due to its smart contract applications.

Litecoin (LTC)

Litecoin is sometimes referred to as “Bitcoin-Lite” because there are similar qualities. Litecoin is also a peer-to-peer payment system but differs from Bitcoin in multiple ways. Charlie Lee is the creator of Litecoin and wants to go after merchants and exchanges. Litecoin has a faster block-processing rate than Bitcoin and the Litecoin market has the potential to grow extremely fast.

Bitcoin Cash (BCH)

Bitcoin miners and developers started Bitcoin Cash and it has an increased block size of 8mb. Because of this, the verification process has greatly increased in speed. It allows miners on the BCH chain to process more payments per second, so the user experience is improved.

Before investing in the cryptocurrency of your choice, do the necessary research to see which one best fits your needs. While it’s difficult to directly compare different cryptocurrencies, each has its own strengths. If you have questions about which cryptocurrency is best for you, don’t hesitate to contact us today!