Bitcoin cash was one of the marvels of the bitcoin bubble. It is a fork from bitcoin. A fork of a cryptocurrency takes place when someone, anyone declares that a blockchain is going to be transferred to a new set of rules and network infrastructure.

The blockchain is a public ownerless database information, mostly transaction data, and anyone can get a copy of it and load it into their own system. The new system, which is likely a hacked about about version of the original code running the established crypto, is the new fork, it could be called Clem coin, bitcoin dung, utrillium (actually not a bad name for a new coin) or whatever. The fork then takes on a life of its own.

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Bitcoin cash was a fork brought into existence to scale bitcoin-style transactions by having bigger blocks. These bigger blocks can contain more transactions and therefore allow a lot more business to flow through the system. Bitcoin’s system can get congested and fees can skyrocket and the time it takes for coins to go from one person to another can rise steeply. The bitcoin cash fork was to create a new crypto coin mostly like bitcoin that would not suffer from this.

As a factor of the immaturity of the cryptocurrency industry nothing happens without an uproar and the launch of bitcoin cash was no exception. What happened next, however, was at the time unique.

As a fork of this kind takes another coin’s existing blockchain, all the owners of coins in the old chain get the same coin in the new coin. That meant that bitcoin owners automatically got coins in bitcoin cash. Most imagined this would be the same as a spinoff of a company. Companies spin out new listed companies all the time.

So image a stock, one that has a bank and an insurance company as its businesses. The company decides to fork itself into two companies. Shareholders will get new shares in a new company that has the bank injected in it and will keep the share in the old one. The share price falls in the old company as much as the new share trades at. That way no or little money is magicked out of thin air from the get go.

Bitcoin Cash vs Bitcoin – a war of two crypto titans!

Did you know that Bitcoin Cash originated from Bitcoin itself? That’s right — Bitcoin Cash nodes were once a part of the Bitcoin blockchain. Bitcoin Cash is a fork of Bitcoin.

But which of the two should you choose to invest in? What is the difference between Bitcoin Cash vs Bitcoin? What’s a “fork’? There are so many questions, and I’m here to answer them all!

By the end of this guide, you will know the difference between two different crptocurrencies – Bitcoin Cash vs Bitcoin.


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You will learn more about their history, value and their potential for the future. After this, you should be able to decide which one you would prefer to invest in, or whether you’d like to invest in both.

First, let’s look at a little about Bitcoin and its background. Then, I’ll explain what a fork is. After that, we’ll look at the story behind Bitcoin Cash and its features.

If you’re already familiar with Bitcoin and Bitcoin Cash and are just here for the comparison, skip to the section labeled Bitcoin Cash vs. Bitcoin: The War of The Prices!

Bitcoin

Bitcoin was the first ever cryptocurrency and for many years it wasn’t very known. It is just like any other real currency. You can use it to buy, sell and trade for goods, services, investments and more.

The blockchain technology that it’s made of prevents it from being counterfeited. It also means it is not owned, issued or controlled by any one single group or party.

For example, the US dollar is issued by the US government and is controlled by banks. In this scenario, the central party are the government and the banks. When you transfer dollars to a friend, you are relying on the bank to authorize and process the transaction.

Bitcoin, on the other hand, is not issued or controlled by any central authority. The transactions on the blockchain are verified by the computers that run the blockchain, and these computers can be owned by anybody — the blockchain is decentralized.

On the blockchain, transactions are stored and submitted in blocks. The computers verify the entire block of transactions at once by solving a complicated math problem. When the problem is solved, the transactions in the block are verified and new Bitcoin is created — it is given to the computer that solved the problem. This process is called mining!

The total number of Bitcoin that will ever exist is limited to 21 million. Even though there are already over 16 million Bitcoin, it’s going to be a long time until the count of Bitcoin reaches 21 million! This is because every 4 years, the amount of Bitcoin created per block is cut in half.

As more people try to get their hands on some Bitcoin and the rate of creation decreases, the common belief is that the value will increase. That is why so many people are crazy about Bitcoin now!

Today, Bitcoin is the most valuable cryptocurrency currently on the market. While other currencies are attempting to outrank Bitcoin and reduce its dominance over the digital-coin sector, few are getting close. However, Bitcoin Cash may be an exception to that due to the difference between Bitcoin and Bitcoin Cash!

As Bitcoin Cash is a fork of Bitcoin, I’ll explain what a fork is before I explain Bitcoin Cash!

A Fork

There are quite a few Bitcoin forks, but none are as used or as well known as Bitcoin Cash. A fork is created when the original code of a blockchain is updated but only some of the nodes (computers) on the blockchain accept the update.

The original blockchain (like Bitcoin) remains the same, and the updated nodes split off from the original blockchain and create a new blockchain (like Bitcoin Cash) and the coins on the blockchain become separate and unique from the ones on the original blockchain.

Anyone holding the original coin at the time it was forked will automatically get the forked version of the coin they were holding. So, when Bitcoin forked to Bitcoin Cash, someone who had 10 BTC would automatically have received a certain number of BCH matching the value of their 10 BTC.

Now then, let’s talk about Bitcoin Cash itself!

Bitcoin Cash

Like Bitcoin, Bitcoin Cash is a cryptocurrency with its own blockchain. It works just like a digital currency and new BCH (Bitcoin Cash) is created through Bitcoin Cash mining. It was created at the end of 2016, making it much younger than Bitcoin.

Bitcoin was forked to create Bitcoin Cash because the developers of Bitcoin wanted to make some important changes to Bitcoin. The developers of the Bitcoin community could not come to an agreement concerning some of the changes that they wanted to make. So, a small group of these developers forked Bitcoin to create a new version of the same code with a few modifications.

The changes that make all the difference between Bitcoin Cash vs Bitcoin are these:

Bitcoin Cash has cheaper transfer fees (around $0.20 per transaction), so making transactions in BCH will save you more money than using BTC. A BTC transaction can cost around $1 USD per transaction, although it previously went up to around $25 per transaction!
BCH has faster transfer times. So, you don’t have to wait the 10 minutes it takes to verify a Bitcoin transaction!
BCH can handle more transactions per second. This means that more people can use BCH at the same time than they can with BTC.
All these changes are due to the fact that a Bitcoin Cash block (in the blockchain) is eight times bigger than a Bitcoin block. This makes BCH faster, cheaper and more scalable than Bitcoin. Bitcoin cash is becoming more and more adopted by the day because of this.

Bitcoin Cash vs Bitcoin: The War of the Prices

As mentioned earlier, cryptocurrencies like Bitcoin or Bitcoin Cash derive their value from how much they are adopted, used and demanded. We can analyze them in terms of ROI (return on investment) and value growth.

They are both holders of value, and while Bitcoin has been the holder of the most value up until now, Bitcoin Cash is gaining users and value fast.

Bitcoin Cash is still less than a year old. So, it is still in the stage of capturing and realizing its own place in the crypto market. Many people speculate that Bitcoin Cash might take a good portion of Bitcoin’s market share, making it the new dominant crypto in the industry. This is because Bitcoin Cash has addressed the scaling issues that Bitcoin faces, allowing more people to use it with ease and lower fees.

If the Bitcoin developer community doesn’t find a way to agree to a mutual update to the Bitcoin code to fix its problems, Bitcoin might lose in the war between BTC vs BCH. This means that more people will likely switch to using BCH as their main store of value and transactional currency.

In the recent past, Bitcoin Cash has been worth as low as 5% of Bitcoin, to as high as 33%. It is currently staying within the range of 10-15% of the price of Bitcoin. Below are charts of the BCH vs BTC prices over the past nine months.

(The orange line is BCH to BTC)



One of the things holding BCH’s rapid growth back is the confusion people have between Bitcoin and Bitcoin Cash. Many newbie investors see Bitcoin Cash as a cheaper Bitcoin with a lower entry point to the market. This is because they share very similar names and come from the same branding and community.

The confusion has also led to Bitcoin Cash receiving negative attention as a copycat currency that is simply a cash grab, aimed at tricking new crypto investors into buying a fake Bitcoin. This, however, is not true.

BCH is no fake Bitcoin, but it may very well be a better one.

Bitcoin Cash vs Bitcoin: The Features

Bitcoin Cash Advantages

The main advantage of Bitcoin Cash is that it is cheaper and faster to use. This is because it is more scalable, meaning that more people can transact on the blockchain at any given time.

Its #DevelopmentTeam  is quick to implement solutions that make the blockchain more scalable. Which gives it great future potential for adoption and use.

It is also cheaper to move around between exchanges. Whenever its price surges, it is a great trading asset against Bitcoin and a solid investment to hedge against Bitcoin, should Bitcoin lose its market dominance one day.

Note: Nothing in this article is financial advice! You should always consult a financial advisor before investing.

Bitcoin Cash Disadvantages

Bitcoin Cash does not have as much investor confidence as Bitcoin. Also, its adoption rate and market penetration is much lower than Bitcoin’s. This has a lot to do with the fact that coin is much newer than Bitcoin.

While the price of BCH is around 10-15% of the price of Bitcoin, the cost of Bitcoin Cash mining is relatively the same as mining Bitcoin. This means that someone who mines Bitcoin Cash makes 50-60% less profit than someone mining Bitcoin with the same equipment. For this reason, miners are not as quick to mine Bitcoin Cash.

Finally, when it comes to trading, BCH has far less trading pairs than BTC, making it less tradeable than Bitcoin. All these disadvantages work towards making Bitcoin Cash’s adoption rates and prices much lower than Bitcoin’s.

Bitcoin Advantages Over Bitcoin Cash

As the original cryptocurrency, Bitcoin is the base currency of the entire sector. It is what all other cryptocurrencies trade against (as well as ETH, most of the time) and is tradable on most exchanges. Bitcoin is the most popular and has the most trading pairs with other cryptocurrencies.

As of 23rd

March 2018, Bitcoin makes up 44.5% of the entire capital of the crypto-sector and is considered the Gold standard of a rapidly growing industry.

The biggest advantage Bitcoin has over Bitcoin Cash is its community and cult-like following: it’s the first cryptocurrency anyone hears about. It is super, super popular — if your Grandma knows about one cryptocurrency, I’ll bet you $100 it’s Bitcoin!

Bitcoin Disadvantages Over Bitcoin Cash

The disadvantages of Bitcoin when compared to Bitcoin Cash mainly regard the scalability issues facing Bitcoin. Bitcoin is older, slower and costs a lot more per transaction. It is likely that as the sector grows, Bitcoin will continue to lose its dominance to these other coins.

Another disadvantage is that the core #DevelopmentTeam  of Bitcoin are not united as well as other crypto teams, like that of Ether, for example. They appear to be divided as group and lacking clear leadership.

This makes implementation of scaling solutions more difficult to agree on and implement to the network — not good at all!

Bitcoin Cash vs Bitcoin: Where Can You Buy Them?

One of the most popular exchanges to buy both Bitcoin and Bitcoin Cash is coinbase.

On this platform, you can use fiat to buy popular cryptocurrencies (including Bitcoin and Bitcoin Cash) through your credit card, bank account and more. Unfortunately, Coinbase is only available in 32 countries:

U.S.A., Canada, UK, Switzerland, Sweden, Spain, Slovenia, San Marino, Portugal, Poland, Norway, Netherlands, Monaco, Malta, Liechtenstein, Latvia, Jersey, Italy, Ireland, Hungary, Greece, Finland, Denmark, Czech Republic, Cyprus, Croatia, Bulgaria, Belgium, Austria, Australia and Singapore.

If you are not in one of these countries and you want to buy Bitcoin Cash or Bitcoin, you can try out other broker exchanges like CoinMama or bitcoin exchange

If you use a broker that doesn’t sell BCH but sells BTC, you can always buy Bitcoin and exchange it for Bitcoin Cash on a trading platform like Binance.

Another option for buying these coins with cash is to do so on a P2P exchange, like LocalBitcoins. Again, you’ll only be able to buy Bitcoin on P2P exchanges, but you can trade your BTC for BCH using a trading exchange afterward.

Bitcoin Cash vs Bitcoin: Conclusion

Many people are under the impression that Bitcoin Cash vs Bitcoin is a war, and that one should be better than the other. For practical reasons, Bitcoin Cash is a faster and cheaper asset to use for transacting on the blockchain.

But Bitcoin, being the original cryptocurrency, is the most adopted and currently the greatest store of value in the cryptomarket. This leads me to believe that both these coins can remain as staples in the industry as it evolves and matures.

BCH can become the main tool for transactions and moving money around as more users adopt it. BTC can continue to be used as a store of value that is considered the gold of digital currency. Both stand to grow in value and adoption over time, making them worthy investments for any investor to look into and consider.

Now that you know the differences between these two coins, you can better decide how you want to invest in them and how you will use them.

For example, you can invest into Bitcoin Cash to use it as your main form of currency to transact with. However, you could invest into Bitcoin the way you would invest in gold – for investment benefits

Almost seven years ago, former Google engineer Charles Lee created a near clone of Bitcoin: a new cryptocurrency that shared almost all its code with that better-known market leader.

Despite being like Bitcoin in almost every way, Litecoin has gone on to carve out its own community, value proposition — and almost 2% of the entire crypto market by market capitalization.

How did Litecoin distinguish itself from Bitcoin despite being almost structurally identical to it, and how are the two measuring up to each other in 2018?

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As with most questions in crypto, it’s best to look for answers in the data.

Here’s how Litecoin compared to Bitcoin by the numbers on July 13, 2012, nine months after its public release:

And this is how those numbers have changed as of September 12, 2018:

To understand how these numbers have shaped Litecoin vs Bitcoin — and how they’ll continue to influence the relationship between these cryptocurrencies in the future — we need to interrogate three dimensions of their history:

The origin story. How did the way in which Litecoin first launched set it up for mass adoption in an ecosystem dominated by Bitcoin?
The infrastructure. How did the few differences between Litecoin and Bitcoin make the former better suited for day-to-day commerce than the latter?
The community. What kind of future for these cryptocurrencies can we expect, given the difference in the level of activity and support in their respective communities?
Digging into these dimensions shows us that Litecoin had a clear, compelling advantage when it first launched — but it’s unclear whether that advantage will last in the long run.

Litecoin gave people another shot at capturing the value of Bitcoin

Travel back with us to the state of crypto in 2011, when Charles Lee first considered the idea of Litecoin. Here’s some context around what was happening then:

A gentleman named Laszlo had proven Bitcoin’s commercial potential by 10000BTC to purchase two large pizzas in May 2010.
Bitcoin’s price had shot from just under $0.05 USD in July 2010 to a peak of almost $30 USD in June 2011 — a ~60,000% price increase in less than a year.
Bitcoin mining was getting beyond the reach of ordinary hobbyists,with application-specific integrated circuits (ASICs) being built for the express purpose of mining increasingly computationally intensive blocks.
It was clear to anyone who was paying attention that Bitcoin had the potential as a new medium of value transfer — but it also looked to many as if they had already missed out on the opportunity to be an early adopter of Bitcoin and capture its value. (Little did they know how much higher the price of Bitcoin was going to climb!)

Two pizzas in 2010 proved that BTC could be exchanged for good and services.

It was in this landscape that Charles Lee launched Litecoin. The new cryptocurrency had a simple and compelling value proposition: it’s almost exactly like Bitcoin, but better for daily commerce — and you can buy it from almost the very moment it’s first created.

Rather than following in Satoshi’s footsteps and anonymously releasing Bitcoin after mining at least a million on his own, Lee was upfront about his identity and publicly released Litecoin after mining only 150 coins.

In this regard, the fact that Litecoin was almost the same as Bitcoin wasn’t a bad thing. Bitcoin had already proven that it had utility: if someone could create a blockchain that took the same fundamentals of Bitcoin but optimized even a little bit further for that specific utility, people would have a second chance to “get in on the ground floor” of a successful cryptocurrency.

That’s exactly what Lee aimed to do with Litecoin, and in the short run, it was a success: trading for about $0.03 USD in July 2012, Litecoin reached a price point of $40 USD in November 2013 — an increase of over 130,000%.

Litecoin was built to be better for ordinary transactions

There are really just three main structural “tweaks” that makes Litecoin different from Bitcoin, each of which was meant to make Litecoin more accessible for everyday commercial use:

A different hashing algorithm.
More overall coins.
More frequently mined blocks.
Let’s consider the initial and ongoing impact of each one, in turn.

1. Democratizing mining

In the early days of Bitcoin, anyone could use their computer to mine new blocks — but the rise of ASICs and organizations that pooled their computational power together to mine BTC put this process outside of ordinary people’s reach.

The modern state of centralized mining pools, which the rise of ASICs foretold in 2011.

Lee wanted Litecoin to be minable by anyone, so he implemented a different hashing algorithm of his own design to make LTC mining ASIC-resistant. Rather than Bitcoin’s CPU-intensive SHA-256 algorithm, Litecoin uses the memory-intensive Scrypt algorithm. This difference made it much harder to design specialized computers for mining Litecoin — at least, that’s how it was when Litecoin first launched.

Nowadays, seven years later, it’s a different story: Litecoin-mining ASICs doexist, and they dominate the mining scene. To get a sense of exactly how much they dominate, take a look at the current hashrate distribution for the Bitcoin network as a point of reference:

Now, compare that with the current hashrate distribution of the Litecoin network:

You’ll notice that the current hashrate distribution of Litecoin isn’t quite as “democratic” as you might have expected back in 2012. In fact, Litecoin’s mining pools are even more centralized than Bitcoin’s: Litecoin’s 6 largest pools control 90% of its hashing power, whereas Bitcoin’s 6 largest pools control only 74.4% of its hashing power.

It might seem weird that people still point to the hashing algorithm difference in Litecoin vs Bitcoin in 2018, when that difference no longer prevents mining pools from winning most Litecoin blocks. But remember the context surrounding Litecoin’s initial release: Bitcoin was wildly successful and becoming harder to mine, while Litecoin offered an apparently level playing field to miners and allowed the public to start mining before Lee amassed very many coins at all. It’s quite likely that this incentivized people to actually mine Litecoin, spurring the early adoption that’s so important to a cryptocurrency’s survival.

2. Lowering the perceived price point

Litecoin is eventually going to have four times as many total coins as Bitcoin: 84,00,000 LTC will ultimately be circulated, in contrast to Bitcoin’s 21,000,000 coins. This is part of what Lee had in mind when he said that he wanted Litecoin to be silver to gold bitcoinmk: Litecoin’s finite supply will make it inflation-resistant like Bitcoin, but its larger supply will ensure that it’s always relatively cheaper than Bitcoin.

The price of 1 LTC has always been substantially lower than the price of 1 BTC, to the point that you can barely see the former on a graph that includes the latter.

Similar to what we saw with mining above, this data can be a little misleading. Cryptocurrencies are something that you can buy fractionally, so you can invest $50 in Litecoin just as easily as you can invest $50 in Bitcoin. But price still can make a difference — just not in the way you expect.

For instance, there’s a psychological element to the price of cryptocurrencies. , we added it to the list of BTC, ETH, and BCH — each of which has a higher price-per-coin associated with it than LTC. To the crypto newcomer, that lower price tag can make LTC seem more affordable, especially when there’s an order-of-magnitude difference between LTC and the next “cheapest” coin (1 LTC is currently trading under $50 USD, whereas 1 ETH is hovering at just south of $200 USD). Notice, though, that if this psychological effect has a real impact on price, then it’ll stop impacting LTC as soon as a lower-priced coin is added.

The lower price point also makes it easier to suppose that Litecoin is undervalued. Some investors might see the vast difference between Bitcoin and Litecoin’s prices as an opportunity to get in before Litecoin appreciates: conceivably, Litecoin could be worth 25% of Bitcoin, but its market cap is currently just 2.62% of Bitcoin’s.

While these might not be the soundest investment theses, they’re powerful drivers when it comes to speculation — and as much as we want to focus exclusively on the many signs of crypto’s maturation as an industry, we should recognize that much of the market is still based on psychology and speculation.

3. Accelerating confirmation times

What’s probably making the biggest difference in Litecoin vs. Bitcoin today is the fact that Litecoin adds new blocks roughly four times as frequently as Bitcoin does: roughly every 2.5 minutes, rather than every 10 minutes.

Why does that matter?

Imagine you’re at a marketplace and you want to buy something. That transaction needs to be fast: you can’t be standing at a register for a long time waiting for your transaction to be confirmed. Cash can be handed over instantly — and even a 15-second delay while a credit-card reader says “PROCESSING” can seem intolerable in the moment. In contrast, Bitcoin transactions can take anywhere from 30 minutes to an hour to be confirmed a sufficient number of times.

Litecoin’s choice to have a new block every 2.5 minutes rather than every 10 minutes means that transactions can be confirmed faster, which is essential for these sorts of ordinary commercial transactions. This is further buttressed by the fact that virtually all of Litecoin’s transactions use SegWit (“segregated witness”), a method of data segregation that further increases transaction speed by allowing more transactions to fit into any given block. Only about 40% of Bitcoin transactions currently use SegWit.

All the same, it’s important to keep things in perspective: 2.5 minutes for a transaction confirmation is still much slower than having confirmation at point of sale. That’s one area where physical currency and credit cards still have both Bitcoin and Litecoin beat.

In an industry driven by community, Litecoin’s isn’t very vocal

Litecoin had the structure and the initial momentum to become a leading means of blockchain-based value transfer, and it does facilitate tens of thousands of transactions per day — even though it’s still about an order of magnitude behind Bitcoin in terms of transaction volume. But there’s a bigger problem lurking for Litecoin that data on blockchain performance doesn’t capture: its community doesn’t appear to be that engaged.

Here are some different stats that do a better job of capturing this:

That fact isn’t an inherent concern: if a payment method is young but actively being evangelized and further developed, its future might promise a much more widespread adoption. The problem is that this doesn’t seem to be the case for Litecoin: even as more exchanges and wallet providers add support for it, its developer and user communities seem relatively quiet. Given that Litecoin’s sole focus is on becoming a widely accepted and efficient method of value transfer, it’s worrisome that there doesn’t seem to be a significant amount of effort going into making that happen.

Looking ahead: Pedal to the metal

Litecoin rose to a position of early success by seeing the success of Bitcoin, optimizing itself slightly more for daily commerce, and giving individuals a chance to invest from Day 1. But that kind of early success can’t sustain anything forever, whether in the crypto industry or elsewhere.

For Litecoin to continue to push ahead, its community needs to stay vocal and diligent. From the Litecoin Foundation to individual developers, Litecoin has the network it needs to continue expanding and succeeding — they need only to activate it.

Litecoin founder Charlie Lee often refers to the cryptocurrency as the “silver to Bitcoin’s gold”. Apart from sharing the same codebase, both cryptocurrencies also exhibit mostly similar price movements in cryptocurrency markets, rising and falling in tandem.

They also complement each other. Bitcoin’s original mandate was to become a medium for daily transaction. But scaling problems have prevented it from fulfilling that role. Meanwhile, Litecoin has picked up the mantle and incorporated scaling technologies into its ecosystem to enable digital payments on its platform. In 2017, Litecoin had, what some analysts called,a phenomenal year


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The resemblance between the two cryptocurrencies might seem baffling to observers, especially since the cryptocurrency ecosystem is premised on a diversity in applications. But it came about largely due to a conscious decision by Lee to have Litecoin follow bitcoin. In a recent interview, he explained the rationale for his call.

Why Does Litecoin Follow Bitcoin?

Lee started bitcoin because he knew that equal transaction fees on bitcoin would prove to be problematic for transferring small as well as large amounts. “If bitcoin is focused on moving large amounts of money, then the fees will be high and security will be high. Litecoin can act as a compliment. It can be used for smaller amounts of money and have lower fees,” he explained. This year, Litecoin Foundation, the nonprofit associated with Litecoin, , opening the door for the cryptocurrency to become a part of mainstream banking.

Bitcoin is the mother ship for a majority of cryptocurrencies today, meaning that they have repurposed its code to suit their ends. But Lee adopted a hands-off approach to bitcoin’s original code while developing Litecoin. Instead, he enhanced bitcoin’s original code with new features and functionalities. For example, Litecoin has a larger block size and processes transactions much more quickly as compared to bitcoin. Lee said he trusts bitcoin and its code is structured in such a manner for a reason. “We’re seeing a lot of coins change some stuff around and then get hacked or have something blew up in their face, simply because they didn’t realize that the thing they changed was there for a reason,” he said.

What Are The Drawbacks Of Lee’s Approach?

There are two main drawbacks to Lee’s tactics.

The first one is that, barring a couple of exceptions, Litecoin’s price has mostly mimicked that of bitcoin’s price trajectory. It also means that Litecoin is not as attractive to investors as bitcoin because it is not sufficiently distinguishable from the original cryptocurrency. Not surprisingly, litecoin’s valuation is minuscule ($3 billion) as compared to bitcoin ($115 billion), during the writing of this article.

The second one is a transference of bitcoin’s vulnerabilities to its progeny. In the interview, Lee said he is currently worried about a bitcoin bug that has the potential to crash nodes in its network and destroy their value. Litecoin will be directly affected by such a crash because it shares code and copies bitcoin’s price movements.

“Something like that could like destroy 90 percent of its value overnight. So stuff like that definitely keeps me up at night. In Litecoin’s case, we’re running a network that is worth three billion dollars. That’s still a lot of money,” said Lee.

Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns 0.21 bitcoin and 1 Litecoin.

Cryptocurrencies are almost always designed to be free from government manipulation and control, although as they have grown more popular this foundational aspect of the industry has come under fire. The currencies modeled after bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of bitcoin. While some of these currencies are easier to mine than bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention.

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Below, we’ll examine some of the most important digital currencies other than bitcoin. First, though, a caveat: it is impossible for a list like this to be entirely comprehensive. One reason for this is the fact that there are more than 1,600 cryptocurrencies in existence as of this writing, and many of those tokens and coins enjoy immense popularity among a dedicated (if small, in some cases) community of backers and investors.

Beyond that, the field of cryptocurrencies is always expanding, and the next great digital token may be released tomorrow, for all anyone in the crypto community knows. While bitcoin is widely seen as a pioneer in the world of cryptocurrencies, analysts adopt many approaches for evaluating tokens other than BTC. It’s common, for instance, for analysts to attribute a great deal of importance to the ranking of coins relative to one another in terms of market cap. We’ve factored this into our consideration, but there are other reasons why a digital token may be included in the list as well.

1. Litecoin (LTC)

Litecoin, launched in 2011, was among the initial cryptocurrencies following bitcoin and has often been referred to as “silver to bitcoin’s gold.” It was created by Charlie Lee, an MIT graduate, and former Google engineer. Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer-grade. Although Litecoin is like bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin. As of February 9, 2019, Litecoin had a market cap of $2.63 billion and a per token value of $43.41.

2. Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables smart contracts and Distributed Applications (DApps) to be built and run without any downtime, fraud, control or interference from a third party. The applications on ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the ethereum platform and is sought by mostly developers looking to develop and run applications inside ethereum, or now by investors looking to make purchases of other digital currencies using ether.

During 2014, ethereum launched a pre-sale for ether which received an overwhelming response; this helped to usher in the age of the initial coin offering. According to ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). As of February 9, 2019, Ethereum (ETH) had a market cap of $12.49 billion and a per token value of $118.71.

3. Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If bitcoin is like HTTP for money, zcash is HTTPS," is one analogy zcash uses to define itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private.

Zcash offers its users the choice of “shielded” transactions, which allow for content to be encrypted using an advanced cryptographic technique or zero-knowledge proof construction called a zk-Snark developed by its team. As of February 9, 2019, Zcash had a market cap of $291.25 million and a value per token of $49.84.

4. Dash (DASH)

Dash (originally known as darkcoin) is a more secretive version of bitcoin. Dash offers more anonymity as it works on a decentralized master code network that makes transactions almost untraceable. Launched in January 2014, dash experienced an increasing fan following in a short span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘darkcoin was rebranded to dash, which stands for “digital cash” and operates under the ticker DASH. The rebranding didn't change the functionality of any of its technological features including DarkSend and InstantX. As of February 9, 2019, Dash had a market cap of $640.76 million and a per token value of $74.32.

5. Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Launched in 2012, ripple “enables banks to settle cross-border payments in real-time, with end-to-end transparency, and at lower costs.” Ripple’s consensus ledger (its method of conformation) is unique in that it doesn’t require mining. In this way, ripple sets itself apart from bitcoin and many other altcoins. Since Ripple’s structure doesn't require mining, it reduces the usage of computing power and minimizes network latency.

Ripple believes that “distributing value is a powerful way to incentivize certain behaviors” and thus currently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who offer tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.” So far, ripple has seen success with this model; it remains one of the most enticing digital currencies among traditional financial institutions looking for ways to revolutionize cross-border payments. As of February 9, 2019, ripple had a market cap of $12.69 billion and a per token value of $0.308.

6. Monero (XMR)

Monero is a secure, private and untraceable currency. This open-source cryptocurrency was launched in April 2014 and soon spiked great interest among the cryptography community and enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Monero has been launched with a strong focus on decentralization and scalability, and it enables complete privacy by using a special technique called “ring signatures.”

With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated. Because of exceptional security mechanisms like this, monero has developed something of an unsavory reputation; it has been linked to criminal operations around the world. Nonetheless, whether it is used for good or ill, there’s no denying that monero has introduced important technological advances to the cryptocurrency space. As of February 9, 2019, Monero had a market cap of $808.50 million and a per token value of $48.18.

7. Bitcoin Cash (BCH)

Bitcoin cash holds an important place in the history of altcoins because it is one of the earliest and most successful hard forks of the original bitcoin. In the cryptocurrency world, a fork takes place as the result of debates and arguments between developers and miners. Due to the decentralized nature of digital currencies, wholesale changes to the code underlying the token or coin at hand must be made due to general consensus; the mechanism for this process varies according to the particular cryptocurrency.

When different factions can’t come to an agreement, sometimes the digital currency is split, with the original remaining true to its original code and the other copy beginning life as a new version of the prior coin, complete with changes to its code. Bitcoin cash began its life in August of 2017 as a result of one of these splits. The debate which led to the creation of BCH had to do with the issue of scalability; bitcoin has a strict limit on the size of blocks, 1 megabyte. BCH increases the block size from 1 MB to 8 MB, with the idea being that larger blocks will allow for faster transaction times. It also makes other changes, too, including the removal of the Segregated Witness protocol which impacts block space. As of February 9, 2019, BCH had a market cap of $2.23 billion and a value per token of $126.49

With just one day to go until Litecoin’s (LTC) next halving event, Cointelegraph sets out all you need to know about the cryptocurrency”s reduction in block rewards. In spite of their reputation for creating price hikes, the lead up to the halving has witnessed a 25 percent decline in valuation over the last month.

What is halving?

Halving is a process that occurs when the mining reward for a cryptocurrency is reduced by 50%. Miners receive crypto rewards for solving problems that create each new block on a given blockchain. The rewards differ for each cryptocurrency. With Litecoin, miners are currently awarded 25 coins per block. After Aug 5, miners will only receive 12.5 Litecoins per block.

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Litecoin rewards halve every 840,000 blocks, a process that occurs every four years. The block speed for Litecoin is roughly 2.5 minutes, with around 576 blocks generated per day. One of the key factors to take into account is that, according to the coding behind cryptocurrencies such as Bitcoin (BTC) and Litecoin, only a certain amount will ever be mined. This distinct characteristic sets it apart from fiat currencies, which can theoretically be printed infinitely.

Although it’s difficult to say when the final Litecoins will be mined, the Litecoin Foundation estimates that it will be around 2142, when the maximum of 84 million Litecoins will be reached. As of press time, there are 62,983,450 Litecoins in circulation, representing 74.93% of all Litecoins that will ever be mined. This leaves roughly 21 million coins left to be mined up until 2142. Comparatively, it’s estimated that the final few Bitcoins (BTC) will be mined around 2140.

Halvings are closely followed by investors, as the consequent reduction in mining rewards affects the profitability. Accordingly, this has a knock-on effect on the price. For investors, this can be a mixed bag. According to the theory of supply and demand, halvings should drive up the price of the cryptocurrency. As they receive fewer coins per block solved, miners stop producing them until the work once again becomes profitable. As fewer coins enter circulation, the price consequently goes up, as demand — in theory — will overtake the supply. Although this sounds like a sure-fire win for investors, halvings can bring about even greater instability to an already volatile market.

Previous halvings have stoked investor interest, and the upcoming Litecoin event is no exception. According to Google Trends, searches for “Litecoin halving” peaked between June 9 and June 15, although data shows that this trend is once again increasing.

Searches for “Bitcoin halving” on Google are typically more numerous than entries for Litecoin, although this trend has reversed as of July 30.


What could happen?

In the time leading up to the halving, miners ramp up operations to maximize their returns until the whole process becomes unprofitable. Miners need to invest in powerful, specialized equipment to take on the computing challenges required for creating blocks. As the difficulty of mining blocks rises, so do electricity costs. Mining is no longer a game for individual hobbyists, with even the biggest mining farms struggling to remain profitable during the so-called crypto winter of 2018. Mining is now a big business, and businesses need to make a profit. So, when profitability falls, activities tend to cease.

The fact that miners will feel the heat after the halving is no secret, with Litecoin creator Charlie Lee predicting that many will shut up shop after Aug 5. Lee told Australian crypto news site Mickey that halving the block rewards by 50% always has an impact on the Litecoin mining ecosystem:

“When the mining rewards get cut in half, some miners will not be profitable and they will shut off their machine. If a big percentage does that, then blocks will slow down for some time. For litecoin it’s three and a half days before the next change, so possibly like seven days of slower blocks, and then after that, the difficulty will readjust and everything will be fine.”

Despite the commonly accepted theory that a decrease in supply results in a corresponding increase in demand, Lee suggested that market sentiment also plays a role in ramping up the price:

“In terms of the price, the halvening should be priced in because everyone knows about it since the beginning. But the thing is people kind of expect the price to go up. So a lot of people are buying in because they expect the price to go up and that’s kind of a self-fulfilling prophecy. So, because they’re buying in, the price does actually go up.”

After Litecoin’s 2015 halving, the coin peaked in July of that year before losing nearly 50% of its value by the time of the reward reduction, culminating in a decrease of 75% in the aftermath, Mickey reports. Naeem Aslam, chief market analyst at ThinkMarketsFX, told Cointelegraph via email that reducing block rewards for miners is an effective filtering process and agreed that the effect on the price is usually positive:

“Reducing the incentive for miners is good for LTC because only serious people will remain in the space. As for the price action, it is difficult and it depends a lot on the sentiment but usually this kind of action is positive for the price.”

If the price bombs following the halving, the network hash rate will tail off as mining begins to shut down, leaving only the largest mining farms operational. Once the hash rate drops below a certain point, the mining difficulty will adjust itself and smaller miners may be able to begin mining once again.

Supply and demand: Experts weigh in

Although halving events are widely considered to result in a price hike for the given cryptocurrency, market experts do not foresee any dramatic changes in valuation. Mati Greenspan, a senior market analyst at eToro, told Cointelegraph that halving events are usually priced in before they actually happen:

“It seems to be the case here as well. Litecoin has outperformed the rest of the market during this year's rally and some say that it was a root cause of the upward momentum in the first half of this year. It's difficult to say how or even if the price will react to the event in the short term. In the long term, reduced supply supports higher prices all else being equal.”

Renowned crypto trader and technical analyst Crypto Rand also agreed in email conversations with Cointelegraph that the halving event has already been priced in:

“I don't think the halving event will have much impact on Litecoin price, it's already priced in since one month I would say. LTC is looking pretty solid here. It just broke up the local downtrend channel after bouncing on the key $88 range support. If the downtrend of volume finally comes to an end I'm expecting a rise on the price back to $105-$110. Right now looks like a solid option among the rest of big caps.”

For Aslam, those trying to jump on the halving gravy train are already too late:

“The most important factor to remember is that these kind of planned events are already fully priced in and traders have already positioned themselves for this. Running up to the event, it is not usually wise to participate in that move because you are already too late for the party. Therefore, smart money always buy the rumour and sell the news.”

Greenspan predicts that there won’t be many surprises in mining activity, due in part to Litecoin’s scrypt algorithm:

“Litecoin's scrypt algorithm is pretty unique so the hardware used to mine it is not easily adaptable to mining other tokens. Therefore it doesn't have quite the same of competition over hashrate that some of the other cons have. My feeling is that LTC miners have had ample time to prepare for the halving so we shouldn't see any major changes.”

When asked about what investors holding LTC should be doing, Greenspan had advice:

“Holding. But more importantly spending. Litecoin's value proposition specifically involves being a more durable token for making payments. The more people use it for this purpose, the stronger the network gets.”

Some members of the crypto community are commenting that the Litecoin halving can be viewed as a test run for the upcoming midyear 2020 BTC halving and that we can consequently expect similar results. For Greenspan, the comparison is sound, although he warned that results will not be identical:

“The market has matured a lot since the last Bitcoin and Litecoin halvings. Though we couldn't possibly expect a mirror reaction, the LTC halving should give us some indication of what to expect when BTC does the same next year.”

Crypto Rand is not so sure, however, stating that investor understanding and even awareness of Litecoin juxtaposed to Bitcoin is incomparable:

“I don't think LTC halving can work as test for Bitcoin, I would say 95% of the traders/investors are not aware of the halving on LTC or they don't know what means. The coverage for BTC it's and will be a fully mainstream event, everyone will be aware of it.”

Strix Leviathan says halving profits are a myth

A blog post published on July 21 by institutional-grade algorithmic investment management platform Strix Leviathan reported that cryptocurrencies do not outperform the market in the months leading up to and following block reward reductions.

The report found that the supply and demand theory, while “certainly feasible as a logical theory,” does not result in a rapid increase in price. Per the report, Strix Leviathan analysts found that LTC outperformed the market twice prior to a reduction in block rewards, yet fell to the bottom 25% of the market in the ensuing six-month period. The report also postulates that the performance of a crypto asset both in and out of halving periods are more or less the same:

“What we find is that the return distribution of an asset’s halving periods versus the return distribution outside of its halving periods reveals that they are statistically the same at a 99% confidence level. In other words, we did not find evidence that a halving event results in abnormal pricing action and we are dealing with a circumstantial illusion. It appears more likely that the return behavior before, during, and after a halving coincides more with increasing levels of speculation than with an underlying shift in sell side pressure.”

Merged mining could mitigate block reward reductions

A report published by binance Research, an arm of major crypto exchange Binance, found that the impact of halvings for both BTC and LTC miners could be mitigated by merged mining. Binance researchers analyzed Charlie Lee’s prediction that many miners would have to halt operations and looked into how merged mining could help keep miners on-board even after rewards have been reduced.

Merged mining uses the work done on a parent blockchain and spreads it across other smaller “child blockchains” by using auxiliary proof-of-work (AuxPoW). The three most prominent examples of merged mining are the Litecoin-merged Namecoin (NMC), Bitcoin-merged Dogecoin (DOGE) and Myriadcoin (XMY), a cryptocurrency merged with both BTC and LTC.

The report theorized that merged mining could help mitigate the impact of reward reductions by future block rewards scheduled for both Litecoin and Bitcoin. Binance researchers also reported that smaller chains could incorporate AuxPoW in future to support greater network security and reduce the need for an independent mining operation. The report did, however, find some potential shortcomings. Researchers said that miners may not turn to merged mining due to the risk of operational costs when supporting child blockchains and potential declines in the market price.

The report cites Dogecoin as the most successful examples of merged mining, which adopted the model in August 2014. After the switch, the coin’s mining hash rate skyrocketed 1,500%. The report also found that, as of July 2019, 90% of Dogecoin’s total hash rate is sourced from Litecoin mining pools

Bitcoin will continue to grow and evolve, just as every other great man-made invention does…and for those of you who get left in the dust, I feel sorry. Bitcoin has already created dozens, if not hundreds of millionaires, thanks to its exponential explosion in value. I’m well on my way to becoming one of them.

There’s a few key reasons why I believe trading bitcoin is better than investing in stocks, however. There’s not as much competition, it’s a solid asset from a value investing perspective, there’s no high speed trading algorithms just yet, and more. Here’s why I think it’s better to invest in Bitcoin than to buy stock

Part of it is so that I’m highly productive with blogging and other pursuits, but a major reason is so that I can trade cryptocurrencies like a professional. If I can watch three times as many charts as an amateur trader, who do you think has the advantage? I do. This brings me to a major reason why I think trading Bitcoin is far better than trading stocks.


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Since Bitcoin is such a relatively new market, there’s very few professional traders involved. That means less experts, which translates to less competition and more profit for you.

When I used to trade the stock market, I was regularly going up against all manner of competition. From high speed trading algorithms to “Wolf of Wall Street” types who had insider information and 10 computer screens to monitor stocks, I was going up against the best.

With Bitcoin however, do you know who I’m going up against? I’m trading against some 15-year-old kid who uses Bitcoin to buy drugs, a couple of college flunkies who trade Bitcoin in their spare time, and maybe a few good traders. There’s far less competition.

#2 – No Banks Are Involved Yet

Banks are some of the most corrupt institutions on the entire planet. From tanking entire economies, to funding countless wars, to having ties with deceitful politicians, to charging ridiculous interest rates in places where they have a monopoly, it’s hard to deny that banks are pretty evil.

Of course, there’s still some benefits to having banks, but that being said they’re still one of the most corrupt institutions on the planet. I saw this firsthand when I was trading the stock market—there was this candlestick pattern that would crop up every now and then, and I knew it meant bad news.

Many investment banks use a strategy called a “pump and dump,” where they leverage the fact that they have billions of dollars to invest, and use it to manipulate the market. First, they’ll place a ton of orders which will drive the price up. They’ll ride that for a few months, and then BOOM sell everything. They’ll cash out with the big bucks, and all the amateur investors who held onto their stocks will be broke.

With Bitcoin, this is virtually impossible—although banks are trying to get in on the action, they won’t be able to fully adapt for another 5-10 years. It takes time for giant institutions to evolve and grow, but you and me? We can start trading Bitcoin professionally with a few clicks and a bit of knowledge.

Another downfall of investment banks is that they use something called “high frequency trading algorithms,” where they basically take advantage of the market using computer programs and blazing fast internet connections. While I don’t really think this is unethical, it certainly poses a major disadvantage to average traders.

There are no high speed trading algorithms in Bitcoin yet, however—and if there are, they’re few and far between, owned by script kiddies and hackers, rather than billionaire bankers who invest ungodly amounts of money into rigging the system. Bitcoin is a fresh new market, ready to be traded without bank involvement.

#3 – Bitcoin is Highly Volatile

When you’re trading over short to medium periods of time, you typically want high volatility. This just means that the price changes very rapidly—so it could be at $10,000 per Bitcoin one day, and then go up a whopping $2,000 or 20% the next day. This is good for traders, because traders seize opportunities like this.

Since the cryptocurrency market is still in its’ infancy stages, there’s a lot of growing to be done, a lot of hype to be met, and a lot of new traders to come on board. This all equates to increased volatility, sometimes of 50% in a single day, which is a trader’s absolute wet dream.

Back when I used to trade e-mini futures on a regular basis, it was a good day if I could net a 3-5% increase. The average stock experiences volatility of maybe 1-3% per day, meaning that they don’t go up or down very much in short time frames. Bitcoin on the other hand commonly goes down or up by 10-15% per day.

This means that traders can better leverage their funds to create wealth. If you buy Bitcoin at a certain price, predicting that it will go up, and it goes up 15% in a single day, you’ve just made twice as much as the average Wall Street trader makes in a YEAR. Most stocks only go up or down by 1% a day.

“But Jon, isn’t volatility bad? That means my investment could go down very quickly,” I can hear someone ask. Yes, it does mean that—you can make money on the way down however, which is known as shorting. I won’t delve too deep into this, but for now just know that volatility is good.

You can’t make any money if your $10,000 investment goes up to $10,100 in a day, and then back down to $9,900 the next day. If you put that $10,000 in Bitcoin however, it could grow to $11,500 within a day. Greater risk, greater reward—but as point #5 will show, the risk is far less than you’d think.

#4 – No Barrier to Entry

When I used to trade the market on TDAmeritrade, they’d typically charge a $10 fee every time you bought or sold a stock. This means that if you’re a kid trying to invest $100 into the stock market, you’re already going to lose 20% of your investment literally just from buying and selling a stock.

This is why you need much higher capital to invest in the stock market, at least for day trading and swing trading. You can’t really even make a full time living by trading the market unless you have AT LEAST $10,000 to start with. This is how Bitcoin is changing the world, though.

These lower trading fees allow virtually ANYONE to enter into the Bitcoin market, from a wealthy businessman who wants to buy $5 million worth of Bitcoin, to a kid in South America who only has a few hundred bucks to invest. The ramifications of this are absolutely massive.

Exchanges typically charge even less—with Poloniex for example, which is my recommended trading platform for men in the United States, I get charged something like .25%, as in a quarter of a percent. Compared to what TDAmeritrade used to charge me, this is absolutely incredible.

#5 – Bitcoin is Revolutionary

I know what you may be thinking. “Jon, this sounds great and all, but Bitcoin is just digital money. How do you know it’s not in a bubble? How do you know that it won’t crash down to 10% of its current value in just a few weeks?”

This is a great question. See, as I’ve covered before, there’s multiple types of trading—short term, medium term, and long term. I prefer to combine them, because if an investment looks good on all three fronts, it has massive potential to generate wealth for both me and the people I choose to give to.

Due to the fact that Bitcoin is fundamentally revolutionary, it is an extremely profitable long term investment. In other words, even if it goes down 30% in a single day, that doesn’t matter—because as John McAfee said, the long term picture is that Bitcoin is going up and up, baby.

Some have predicted that Bitcoin will hit $500,000 by 2020 and others claim it will hit over $1 million by the same year. Based off of my experience in the market, I don’t think this is too much of a stretch at all—Bitcoin has all of the fundamental components that make an investment extremely profitable:

Still in its infancy stages
Market capitalization is barely even scratching 1%
The idea is new and world-changing
It’s backed by something physical (processing power and electricity costs to mine it)
Self-regulating (meaning it’s highly immune to corruption and bad leadership)
Mark my words, Bitcoin is going to change the world in absolutely incredible ways. It’s going to serve as a global currency which will unite the world’s economies, eliminate centralized banking, help fight censorship and drug laws, and enable third world countries to climb out of poverty. Invest while you still can.

Summary

In short, I’m convinced that Bitcoin is a far better investment than the stock market for a multitude of reasons. There’s far less competition, banks won’t be able to adapt for another decade or so, there’s no high speed algorithms to fight against, and the upside is virtually limitless.

Every single day, more and more men are becoming aware of the power of Bitcoin—it cannot be censored, it cannot be regulated, it cannot be controlled, and it cannot be fucking stopped. Whether you’re a multi-millionaire or a kid with a few bucks to invest, Bitcoin is the way of the future.

Bitcoin is enabling Julian Assange to continue exposing government corruption through WikiLeaks, despite the fact that multiple banks have tried to defund him. Bitcoin is enabling controversial writers and critics of culture to make a living, despite the fact that PayPal and other online payment processors have blacklisted them.

Most importantly however, Bitcoin is enabling average folks like you and me to escape from the 9-5 grind and live a life of wealth and prosperity. Bitcoin is enabling the average man to explode his wealth, to escape from the system, and to support whatever causes he wish, in complete and total anonymity

There are so many ways and strategies for bitcoin and crypto investement. Over the past couple of years, Bitcoin has grown in popularity substantially. As a matter of fact, Bitcoin is the leading cryptocurrency in the crypto market as of this moment. Despite the emergence of many other tokens, not one other cryptocurrency can seem to dethrone Bitcoin. How long will it reign supreme? To be honest, nobody knows.

However, the near future looks safe for Bitcoin. In fact, after attracting all the attention from Wall Street and further, it could be a great time to buy in. Bitcoin is still developing and has still many layers to iron out but one thing for sure, it’s not going anywhere. Although one question remains, is it still possible to make millions from cryptocurrency investment? All you have to do is look around you to answer that question. Every day there are self-made millionaires from crypto investments.

People dont realise that there are other options of making more on Bitcoin and other cryptocurrency. example , investing on platforms like coinexplorer (www.coinexplorer.tech) where you get double of your invested cryptocurrency after 7days. With that, you cant lose on cryptocurrency. Thank me later.

If I were to go out on a limb and hazard a guess, the reason you’re reading this article is that you seek the fortune that comes from Bitcoin trading. Many of us crypto enthusiasts/investors are wondering the same thing. Is the bubble over?is is still possible to make millions from bitcoin trading?? Well, the Winklevoss twins seem to think so. They’ve tied up a large sum of their capital in Bitcoin. Not many individuals are willing to risk there own capital on such a hazardous bet.
Furthermore, these are the same individuals that came up with the original concept for Facebook. They could be onto something. Regardless, we need to do our research and justify our own investment decisions when it comes to investing in Bitcoin. In the following article, will take you through how you can, directly and indirectly, make money from Bitcoin trading.

The History Of Bitcoin Trading

As any reasonable investor will tell you, it’s important to know the history of your investment.

Established during the recession in August 2008, was registered. Just a couple of months later, on 3rd of January 2009, after a paper was published on peer to peer trading, the Bitcoin network went live. During the early days, Bitcoin traded at low of .06c a coin. Reason being many people had never heard of it or understood it’s actual application. However, it wasn’t until 2013 when the price of Bitcoin started to rally, reaching a high at that moment of $1000. Four years later, in 2017, it reached a new profound high of $17500. Surpassing the infamous tulip as the greatest bubble ever in financial history. During the 2017 price surge, all of the popularity and hype surround Bitcoin drove the price through the ceiling. Despite what many other analysts say, every investment comes down to one thing; Is there a buyer and is there a seller?

If you get a lot of both than you have a very liquid base. In return, you’ll get insane prices. Everyone from your average Joe to skeptical accountant wanted in on Bitcoin. Despite the fact they knew nothing about it. Forget all the hypothetical theories analyst were pedaling. They were nothing more than high hopes and conspiracy theories. Basic economics never lies. When a bubble occurs, everyone gets in for a short while, and then it pops. However, sooner or later the cycle starts all over again. As of this moment, Bitcoin currently stands at a price of $8000. Are you ready to ride the second wave?

Things To Do & Consider Before Starting To Trade Bitcoin

If you’re new to this, you’re probably a bit lost but don’t worry. Firstly, you’re going to need to set up an account with an exchange, assuming you’re not interested in mining Bitcoin. Using an exchange is the easiest way to gain access to buying and selling. Ensure that you choose a reputable exchange for Bitcoin trading such as Coinbase or CEX.

Once your account is set up, you’re good to go. However, as we mentioned earlier it’s important to understand what you’re buying and can you afford to buy. With that said, it’s important to do your research. Understand how the blockchain network works, Bitcoins future developments, how does it stand out from competitors, your current financial position, your future cash outlays, your contractual financial obligations, etc. It’s vital that you know what you own and why you own it. Never get into an investment blindfolded. Make rational decisions and ignore everyone rushing you into it. It’s essential you separate emotion from logic when investing.

Establish A Profitable Bitcoin Trading Strategy

In this world, there are two types of traders; long-term trader and short-term traders. In all honesty, I do not believe there is a buy and hold strategy when it comes to Bitcoin. When it comes to Bitcoin trading, to make profitable returns, you have to be an excellent short-term trader. If you want to make profitable trades, you’re going to need to study up on technical analysis which is the study of price patterns.

To profit off trading Bitcoin, you need to implement a plan. For instance, you need a daily routine, and as part of this daily routine you need to know;

Your price patterns off by heart
What times of the day is the market most volatile and for how long
How quick is your internet to help you execute transactions on time
Have all the latest Bitcoin news at your disposal 24/7 and be ready to profit off any irregular price movements
Don’t get greedy. Walk away when you’ve made a sufficient return and knew when to cut your losses. The key to earning a profitable return is knowing when to walk away
Don’t put all your cash on one trade. Diversify across different coins
Never, ever spend money you can’t afford to lose
If you stick to these principles, you should have a very profitable time trading Bitcoin. On a closing note, it’s also crucial that you consider your taxes, commissions, and others which you occurred when trading Bitcoin. Only after all these things are considered, then you can establish how much profit you made