Bitcoin-Is It the Only Cryptocurrency?

Updated: Jul 24, 2020

Since the invention of Bitcoin, its popularity on the global stage has continued to soar. In the last decade, it has not only become a preferred digital currency but also globally accepted crypto coin. Even more importantly, it is the first cryptocurrency based on the blockchain technology, something that has seen Bitcoin spread far and wide via BTC digital wallets.

Understanding cryptocurrency

The future of money has always been linked to digital currency and Bitcoin remains a huge prospect. But while Bitcoin has realized massive success, it is not synonymous with cryptocurrency as most think.

Defining cryptocurrency boils down to understanding its features. For example, a cryptocurrency such as Bitcoin is not subject to control by the government. It is a decentralized form of digital transaction, often involving peer-to-peer transfers through private or public keys. Bitcoin was the first crypto coin to be introduced to the public by an inventor known as Satoshi Nakamoto, someone whose identity remains a mystery. Today, cryptocurrency traders find vital information about Bitcoin on buybitcoin24 and proceed with confidence to select the best cryptocurrency exchange platforms on the web such as Huobi Global.

Bitcoin Is Not the Only Cryptocurrency

While Bitcoin remains a crypto coin to beat, it is not the only one. Other Cryptocurrencies available on top places to buy bitcoin include but not limited to Litecoin (LTC), Tether (USDT), Bitcoin Cash (BCH), Libra, Binance Coin (BNB), Ripple (XRP), and Ethereum (ETH).

Even more importantly, the use of Cryptocurrencies to sell and buy digital goods has increasingly become popular. In countries like Estonia than now offer e-residency, trading Bitcoin and other crypto coins has never been easier. All it takes is Blockchain Company to get started with trading Cryptocurrencies in Estonia.

Blockchain Technology in Cryptocurrency Trade

Blockchain refers to a centralized ledger system through which peer-to-peer exchanges of Cryptocurrencies take place. The technology eliminates the involvement of a central authority when it comes to clearing transactions.

Moreover, blockchain technology is now applied to other areas beyond crypto exchanges. A case in point is digital certifications. To make sense of cryptocurrency trade, understanding how blockchain technology works is important. Understandably, blockchain was invented to make BTC trading easier. Over the years, other crypto coins such as ETH have also been integrated into ledger exchanges attached to the blockchain system.

Ways of using Bitcoin

If you thought BTC is only useful in cryptocurrency exchanges, you should think again. There are more uses such as a form of investment, buying and selling currencies, and as a store of value. It is also true for other coins that are now widely accepted as forms of payments by many online businesses and institutions.

Estonia-The Best Cryptocurrency Trading Destination

Estonia is a preferred destination for trading Cryptocurrencies. You can buy bitcoin globally and invest in Estonia. The country has an e-residency program that allows anyone to become a citizen even without being physically present in the country. With it comes the benefit of starting a blockchain-driven business such as Bitcoin trading. The cost of starting a blockchain company or a BTC trading agency in Estonia is notwithstanding low compared to other European countries.

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