Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank, There are lots of Cryptocurrency but what are the most important?
The best 5 in 2019
– Binance Coin (BNB)
Binance is the biggest cryptocurrency exchange in the world right now.
- when you trade with BNB coin, you get a discount on exchange fees
- They have a decent affiliate referral scheme that has contributed to the company’s growth.
- the exchange is pretty easy to use and hasn’t had any serious security problems yet, unlike other high profile cryptocurrency exchanges.
- They have a huge audience to market the coin towards
- BNB a clear use case – mainly because of users discounts on exchange fees if they trade via Binance
- They have a great team that’s ambitious and experienced in the cryptocurrency world
- BNB coin have a smart referral scheme that’s helped grow their platform’s adoption
- They’re expanding their user base – and that could continue throughout 2019
- Their customer service is pretty responsive – unlike many competing exchanges
- BNB coin is creating an ecosystem within Binance – rewarding customers for their loyalty
- It’s an easy to use exchange platform
- They already have an established brand and a strong marketing strategy
- Governments are cracking down on cryptocurrency exchanges, That means Binance will have to adapt to more regulations and legislation
- Some investors don’t like the power centralized exchanges hold over the market
- their expensive listing fees – it’s unaffordable for smaller blockchain projects to get listed on their exchange
- There are loads of competitors within the cryptocurrency exchange world – many are launching their own coins
– Bitcoin (BTC)
Bitcoin dominates the cryptocurrency market.
- has the highest market cap, the world’s biggest cryptocurrency community and it’s the most talked about brand in crypto right now.
It’s the main trading pair for every other altcoin. For example, if you want to trade OmiseGo you need Bitcoin to buy it.
- It’s the most well-known brand in the blockchain world
- Bitcoin tends to dictate the rest of the market’s value
- BTC is a store of value – you can measure the rest of the market’s value by comparing the price of Bitcoin
- Lightning network updates are being to released to increase Bitcoin’s scalability for real-world transactions
- BTC has a huge community of followers and it’s an open source project that anyone can contribute to
- BTC Core development team is constantly striving to improve the Bitcoin network
- Bitcoin’s share of the cryptocurrency market’s total market cap is gradual.
- It doesn’t have much of a use case compared to other coins on the market
- There are faster and more practical coins out there
- Bitcoin isn’t very scalable for real-world transactions (yet)
- There are a lot of critics of Bitcoin
– OmiseGo (OMG)
is a payment platform Launched in South East Asia, it’s aiming to create a cryptocurrency exchange where customers and merchants can easily transfer cryptocurrency assets.
- They’re part of the Omise group, a company that’s had years of experience delivering payment technology.
- They’ve also announced partnerships with McDonald’s Thailand and the Thai Government.
- they’re soon releasing the Plasma Protocol. This could make OmiseGo capable of handling thousands of transactions, driving more users to the platform.
- OMG makes it much easier for people to exchange fiat into cryptocurrency – driving more mainstream adoption of cryptocurrencies
- It allows people without bank accounts to hold digital assets
- OmiseGo could completely transform the financial landscape in 2019
- Their Plasma Protocol upgrade should make OmiseGo a more scalable platform
- It cuts out the middleman for transactions
- They’ve strategically located their operation within South East Asia – where the financial sector could seriously benefit from cryptocurrency
- There are scalable payment alternatives such as Stellar(XLM) that are indirectly competing with OMG
- OmiseGo doesn’t have as big a following as Ethereum or Bitcoin
- It doesn’t receive as much attention as other top cryptocurrency projects
- They’ve been promising the Plasma Protocol for a few months now and there’s still no release
- Their roadmap is a little vague
– Lisk (LISK)
Lisk is a platform for creating decentralized apps.
- There are thousands of entrepreneurs with ideas for the blockchain, but they’ll need an easy way to create decentralized apps.
- There are going to be thousands of entrepreneurs with ideas for the blockchain, but they’ll need an easy way to create decentralized apps.
- They’re constantly releasing new updates for the project
- Lisk is receiving hundreds of thousands of new wallet sign-ups every month
- They’re serious about growing the brand
- There’s a lot of investor confidence in the coin – they are one of the most successful ICOs of all time
- You can create your own sidechain with Lisk
- easier to build decentralized apps with this cryptocurrency than Ethereum
- It solves a lot of the problems with Ethereum’s platform
- There are loads of competitors in the ‘build your own decentralized app’ space
- There will be easier ways to create your own blockchain application – such as Fuel cryptocurrency
- Their community isn’t as big as Ethereum’s
– Ethereum (ETH)
Ethereum is another platform designed for launching decentralized applications.
- Because scalability is the biggest barrier to the growth of ETH.
- Ethereum has already developed it’s the first version of Casper Protocol, which is currently being tweaked.
- their development team is planning to introduce Shardingaround 2019/2020.
- Ethereum is one of the biggest names in cryptocurrency
- They have a massive community and a huge following
- They’re actively working on making their blockchain more scalable
- Ethereum’s Smart Contract functionality is one of the most powerful features in the blockchain world
- It’s an extremely versatile decentralized app platform that could be used for launching almost any type of blockchain related idea
- You need to program Ethereum apps with Solidity
- People have claimed that the Ethereum network is clogged up and slow
- They have a lot of ambitious competition in terms of being a platform for decentralized apps – such as EOS, NEO and Lisk
- EOS recently launched their mainland it could be a serious competitor to Ethereum
- Ethereum Gas fees have risen significantly- meaning transactions are becoming more and more expensive as Ethereum grows in popularity