Grand Pacific Trade Broker Explores Bitcoin, Ethereum, Litecoin, or Bitcoin Cash? Which is Best for Future Investment

London, UK, 5th Jan 2022, ZEXPRWIRE, Bitcoin is undoubtedly the most popular and mainstream cryptocurrency in the world. But with so many different cryptocurrencies out there, it can be difficult to know which one will give you the best return on your investment. In this article, Grand Pacific Trade broker, David Hunt, compares some of the more well-known options to identify their strengths and weaknesses:

Bitcoin:

Bitcoin is the original cryptocurrency, and to many, it is the standard by which other cryptocurrencies are measured. It was created in 2009 and, after a slow start, has recently exploded into the mainstream.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and issuing bitcoins is carried out collectively by the network. The network is maintained by ‘miners’ who receive bitcoins in return for their services.

Bitcoin has become an increasingly popular investment option. It is free from government control and gives users total financial freedom, which was one of the key reasons it gained so much momentum in 2021. One bitcoin is currently worth over $47,295.40, almost four times its price at the start of 2018.

Bitcoin is an investment with the potential for huge growth. With over 16 million Bitcoins mined, enough coins to last for more than 100 years. And the benefits of mining bitcoins are continually increasing as new, easier ways of mining them are discovered.

Bitcoin has all the features of a great investment; it is decentralized and government-free, continually growing, and versatile. The price has already risen four times this year alone, so if you’re looking for a quick return on your investment, then Bitcoin should be high on your list of options.

Ethereum:

A more recent cryptocurrency, Ethereum, was launched in 2015. It also uses blockchain technology but is different from Bitcoin. It allows developers to build and deploy decentralized applications – the Ethereum network aims to compete with the internet by providing a platform for sharing information worldwide without going through a separate entity such as a service provider or third party.

In 2018, Ethereum was worth $843.75 and had a market capitalization of around $83 billion, making it the second-largest cryptocurrency in the world after Bitcoin. It is also increasingly used as an investment option despite its recent volatility – one Ether token was worth over $2500 at the beginning of January 2020, but by December 2021, it is worth $3,808.25.

Ethereum is a powerful cryptocurrency with many features and low transaction costs – it can even be used to buy other cryptocurrencies. But the value of Ethereum tokens has been dropping since January, which makes this a questionable investment option at present.

There are some reasons why Ethereum may be a better investment for 2022 than Bitcoin. Ethereum has a much larger market cap than Bitcoin, meaning that it is more stable and less likely to crash. It also has more applications than Bitcoin and is, therefore, more versatile. Its value has been slowly but steadily increasing over the past few years, making it a more reliable investment option than Bitcoin. And, finally, Ethereum is easier to mine than Bitcoin, making it a more accessible investment option.

Litecoin:

After Ethereum, Litecoin is the most well-known and traded cryptocurrency. The market capitalization of this currency is approximately 1 billion dollars, and one Litecoin can currently be purchased for around $148.39 or 0.01668310 BTC on major exchanges, including Binance, Coinbase Pro, OKEx, and Bittrex.

Litecoin, which was launched in 2011, is often referred to as the ‘silver’ to Bitcoin’s gold. It has many similarities with Bitcoin but can confirm transactions more quickly and has more coins (84 million). Although it started significantly cheaper than Bitcoin, Litecoin is worth less than one percent of one Bitcoin.

Litecoin is very similar to Bitcoin in terms of its capabilities. Still, it has one significant advantage over the other cryptocurrencies on this list – transaction costs are much lower when using Litecoin. Additionally, transactions are faster with Litecoin than they are with Bitcoin. This makes it a practical currency for day-to-day use, even if dealing with large sums of money.

Bitcoin Cash

Bitcoin Cash was created in December 2021 and had a current coin value of $436.69 for each token. This makes it the fourth most valuable cryptocurrency behind Litecoin and Ethereum. The potential gains with earnings on this currency seem to be greater than those available from traditional investments, such as stocks and bonds. Plus, transaction fees are low, so cryptocurrencies are well-suited to long-term holding.

The obvious advantage of Bitcoin Cash is that it has the name ‘Bitcoin’ in its title – these appeals to investors who want to be involved with cryptocurrencies but don’t like too much innovation. And, because Bitcoin Cash has the same mining algorithm as Bitcoin (SHA256), the cost of mining it is much lower than for other cryptocurrencies.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.