As we all know 2020 has been a hectic year for all of us and with the COVID-19 coming in, the economy have taken a hit. A lot of people have lost their jobs that led to financial crisis.
In this situation, people have been looking for a way to earn and store their money especially when it there is a pandemic crisis, so more and more people tried cryptocurrencies.
Bitcoin
Bitcoin as the first and probably the most popular crypto ever invented. It is a digital currency developed during the year 2009, it was invented by Satoshi Nakomoto. Bitcoin is known for its decentralized system in which transaction would never go through banks. This adds a layer of security as well as a quick transactions to those Bitcoin holders.
Sooner or later, it would make way for the other cryptocurrency currently known as alternative currency or altcoins.
In the present world, there are a total of almost 22 million. This have an advantage of not experiencing any inflation at all and on top of that, its value wouldn't drop too low.
Ethereum
Ether is also a popular crypto next to Bitcoin that offers have Ethereum as its blockchain. It allows and offers transactions which can only be done when specific requirements are met. With this, it can probably make the current internet business and transactions more better.
Some companies like Toyota have, to a certain extent, support Enterprise Ethereum Alliance(EEA). It is designed to support and advertise the technology of Ethereum. So it is likely that we would see a lot of improvements towards business.
XRP
XRP or is commonly referred as Ripple, created by Ripple Labs. This cryptocurrency, unlike other crypto, have to be mined. 100 billion of this coin have already existed, while a few years from now, a billion of this would probably be available per month.
Ripple is centralized unlike Bitcoin since their goal is to offer a fast, secure and reliable transactions for banks and some financial institutions.
Tether
Tether is a crypto that have a unique goal to bridge the gap between crypto and fiat. It is made with the same technology used on Bitcoin while its value is the same as USD which makes it very manageable towards businesses.
Litecoin
Litecoin is a crypto that focuses on speed, so transactions made by using this can be noticeably faster.
Bitcoin Cash
Bitcoin Cash have a pretty long processing periods that is less than ideal but with the blockchain technology, it reduces the transaction fees.
