Understanding Cryptocurrency

Ethereum:

Developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum.  Ethereum’s ether markets itself as gas for the underlying smart contract platform.

Litecoin:

This currency is most similar to bitcoin but has moved more quickly to develop new innovations, including faster payments and processes to allow more transactions. If you describe Bitcoin as gold then Litecoin is the silver.

Ripple:

Ripple is a distributed ledger system that was founded in 2012. Ripple can be used to track different kinds of transactions, not just cryptocurrency. Ripple’s XRP is used by banks to facilitate transfers between different geographies.

Is Cryptocurrency Safe for Investments?

Unlike government-backed money, the value of virtual currencies is driven entirely by supply and demand. This can create wild swings that produce significant gains for investors or big losses.

Although the underlying cryptography is generally secure, the technical complexity of using and storing crypto assets can be a major hazard to new users. They also need to be careful of scams, hacks, and bugs.

Cryptocurrency fraud and scams

Unfortunately, cryptocurrency crime is on the rise.

Fake websites:

Bogus sites which feature fake testimonials and crypto jargon promising massive, guaranteed ROI, provided you to keep investing.