HFM information and reviews
HFM
96%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%
MultiBank Group information and reviews
MultiBank Group
84%

Which Cryptocurrency can you realistically trade online?


The financial crisis led to the worldwide distrust in the financial system. To help solve this problem, an anonymous person – or group – known as Satoshi Nakamoto published a paper on a decentralized currency. According to the paper, the currency would not be issued by a central bank. It would also be used worldwide, removing the barriers of the fiat currencies. The currency was known as bitcoin. 

In 2008, the global financial system fell, ending eight years of a continuous bull run. The sudden reversal came after the bubble in housing prices burst. Before the bubble, investment banks created complex financial products known as Mortgage Backed Securities (MBS) and Collateralized Debt Obligations (CDOs). In this, the banks gave loans to anyone that came calling to finance the spending on housing. Most of the people they gave money to were not able to pay the money back. As a result, major banks such as Lehman Brothers and Bear Sterns failed with the former going bankrupt. Bear Sterns was acquired for less than $10 a share.

Welcome cryptocurrencies:


The financial crisis led to the worldwide distrust in the financial system. To help solve this problem, an anonymous person – or group – known as Satoshi Nakamoto published a paper on a decentralized currency. According to the paper, the currency would not be issued by a central bank. It would also be used worldwide, removing the barriers of the fiat currencies. The currency was known as bitcoin.

When it was launched, bitcoin found its early success in the dark web. These are sites where people go to buy illicit items like drugs and guns. With bitcoin, it was impossible to track the people who bought the products. At the time, one bitcoin was equal to less than a dollar. Today, one bitcoin is worth more than $8,000.

The launch of bitcoin led to the formation of other cryptocurrencies.

Where to trade cryptocurrency?


Today, there are more than 1,800 cryptocurrencies, which have a combined market capitalization of more than $390 billion. To put this into perspective, the cryptocurrencies are worth more than General Electric, IBM, and NVIDIA combined. Bitcoin has a market cap of more than $143 billion.

With the cryptocurrencies industry being little regulated, chances are that most of these currencies have no long-term value. In cryptocurrency trading, you should consider the following currencies.

Bitcoin is without a doubt the top cryptocurrency right now in terms of worldwide awareness. It has become synonymous with the entire blockchain industry. Bitcoin has a market capitalization of more than $140 billion. At this size, the currency has a similar valuation to IBM and Snapchat combined. With its scale, you can trade bitcoin in any bitcoin exchange or in traditional brokers that offer its futures.

Ethereum is the second largest cryptocurrency with a market valuation of $70 billion. It is currently trading at $705. Ethereum is different from bitcoin in that, while bitcoin is a currency, ethereum provides a decentralized system that allows app developers to offer smart contracts. It is a very popular currency that was recently given the best ratings by Weiss Ratings.

Ripple is another currency you can try. It is also different to ethereum and bitcoin. Its technology is useful in the remittance industry. It is now being tested by major remittance companies like Western Union and MoneyGram to reduce the time and cost of remittances. Ripple has a market valuation of $28 billion.

Bitcoin Cash was formed from bitcoin last year through a process of forking. In this, software developers created a similar code to bitcoin and allowed people to mine a similar currency, which was called bitcoin cash. Today, bitcoin cash has a market valuation of $23.5 billion and is considered the best alternative to bitcoin.

While these are the most recommended cryptocurrencies, you can also give other new and upcoming cryptos a chance. These are Cardano, EOS, Stellar, TRON, and Monero. However, you need to be very careful because very little is known about these currencies.


RELATED

Options vs Stocks: Differences, Similarities, and Which to Choose

Stocks and options both involve dealing with company shares and equities, but are two different ways of investing. Between the two, stocks are more straightforward and easier to understand...

Slippage: How to Get Your Desirable Price

Slippage is a term that is used frequently in finance and applies to forex and stock markets. Slippage can bring you either loss or higher profit...

5 ways to get your strategy copied

Copy trading is one of the popular ways that allow professional traders to earn additional income on their trading by offering investors to...

NEO Price Prediction: Invest or Skip?

NEO is not the most popular cryptocurrency compared to Bitcoin, Ethereum, Tether, and Ripple. Currently, it's ranked only 26 by CoinMarketCap...

Fundamental Analysis: A Complete Guide

Each trader wants to know which way the price will go. However, to get the closest to an answer to this question, it is necessary not only to watch the chart on the trading platform...

Top Tech Trends of the Future for Trading

Tech development impacts our daily lives as well as traders’ profits. Technologies change rapidly, creating new opportunities in everyday routine and the stock market...

The Intricacies of the Cryptocurrency KYC System

Cryptocurrencies, emerging as digital currencies secured with encryption, function on a decentralized peer-to-peer network and are recorded on distributed ledgers called blockchains...

Cardano vs. Ethereum: Which one is the Better Investment?

When comparing Cardano vs. Ethereum, there are many things to consider. Both can be invested in, and quite frankly, both have their uses. However, Cardano and Ethereum...

A Guide To Risks In DeFi: Are Exploits A Sign DeFi Is Still Too Risky?

At first glance, decentralized finance, called DeFi for short, is the next big thing in finance, ready to replace traditional banks and financial services that have been around...

How to Invest in Facebook Stock with Libertex

Facebook is now a popular social media platform all over the world. Aside from that, Facebook, Inc. (NASDAQ: FB) is now one of the biggest companies...

Netflix Stock: Should You Invest in Netflix in 2022?

We can argue about whether investing in Netflix (NFLX) stock is a good or bad option, but there is no denying that the American entertainment company has changed the rules of the game...

Mastering Oil Trading: Comprehensive Strategies and Crucial Aspects

The world of oil trading offers a plethora of opportunities for savvy traders, but it also presents unique challenges. Understanding the nuances of trading in Brent Crude and West Texas Intermediate (WTI)...

Unlocking Opportunities in Global Commodity Markets with FXTM’s Advanced CFD Trading

Step into the world of global commodities trading with FXTM, where we offer a gateway to diverse investment opportunities through advanced CFD trading. Experience the flexibility and potential of trading...

STEPN: Libertex explains what you need to know about the "move-to-earn" crypto trend

STEPN (GMT) is a so-called "move-to-earn" crypto token that was launched back in the summer of 2021. However, the price of STEPN has recently picked up...

Bitcoin Cash: Will It Reach Great Heights Again?

All financial markets have ups and downs, and Bitcoin Cash fits this rule just like any other cryptocurrency. But due to the novelty, these cycles of increase or decrease...

Best Forex Expert Advisors for Profitable Trading in 2022

As many of you know, the foreign currency markets are open for trading 24/5, which makes it very hard for a human to keep track of everything that's going...

Step-by-step guide about bitcoin trading

When Satoshi Nakamoto created bitcoin in 2009, nobody taught it would be a worthy coin, let alone being recognized and accepted as a means of transaction worldwide...

Emerging markets: an intriguing niche

Emerging markets are the countries that possess some characteristics of a fully developed market but do not have enough to be...

Deep Dive Into The Current Cryptocurrency Market Trend

The cryptocurrency market is always on 24 hours a day, seven days a week. It never sleeps, takes a day or weekend off - not even on holidays like Christmas. The digital asset...

What US stocks can grow during coronavirus pandemic

Unprecedented sell-offs in global stock markets led the S & P500 to fall by more than 30%. The Dow Jones Index fell more than 35%. Given the increased volatility, at the moment of a mood...

XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
Octa information and reviews
Octa
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2025 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.