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Cryptocurrency : What are Altcoins?

Altcoins, which is short for Alternative Coins are the other types of cryptocurrency we can use in the world of decentralized financial transactions. Altcoins were introduced much later after bitcoin, around 2013. Albeit built and working on the same framework by which bitcoins are recorded and transacted, their introduction as alternative cryptocurrency was meant to address discerned limitations of bitcoins, as a medium of exchange outside of financial institutions and regulations.

Hundreds of altcoins arrived, but not all remained or stayed long enough in the cryptocurrency market like Ethereum, Litecoin, Ripple, Dash, Cardano and ZCash, just to name a few. To have an idea if a certain type of alternative coin has chances of achieving growth and stability as a digital currency, it would be best to understand the significance of their respective market capitalization.

What is Cryptocurrency Market Capitalization?

Similar to investing in shares of stocks, the cryptocurrency market capitalization depends on the value per coin and the number of coins circulating in the cryptocurrency market, if more will invest and use a type of altcoin, the greater the market capitalization and potential for growth.

Cryptocurrency Market Capitalization = Price per Coin x Total Supply of Coins in Circulation

Now if there is an increase in the supply of a cryptocurrency, chances are there will also be an increase in the price of the token. Some investors may venture into buying a low-priced, small cap altcoin, which therefore increases the supply in circulation. In exactly the same way, if the supply in circulation decreases, the price per token and the market capitalization also goes down.

The upward or downward trend in market capitalization of an altcoin therefore, indicates whether there is growth or the opposite.

Let us cite Litecoin as example, being one of the most popular altcoins currently in use. This digital currency had a market capitalization of $3.32 billion and price per token of $57.37 in August 2018; denoting that at that time, 58, 207, 830 Litecoins were in circulation.

Now as of this writing (June 13, 2019) Litecoin has a market capitalization of 8.38 billion. The increase of $5.06 billion between August 2018 and June 2019), denotes that there were corresponding increases in the Litecoin supply in circulation during the period. The supply of Litecoin in circulation rose to 62,198,601. As the related demand for Litecoin increased, the price of this altcoin soared to $134.6123 per token.

Litecoin’s popularity and resulting growth is mainly due to its quicker-settlement attribute. As alternative cryptocurrency, a Litecoin transaction can be settled in 2 and ½ minutes, which in contrast to bitcoin takes 10 minutes.

Posted by Madelina Feliks in Cryptocurrency

Top 5 Popular Cryptocurrency

Despite the fact that Ethereum and Bitcoin have nearly dominated the headlines with regards to cryptocurrency investment, still there are roughly 1500 crypto-assets that are in circulation. And believe it or not, this figure keeps piling up as the day passes by.

With the immense popularity that it has today, using these digital currencies to buy and sell goods and services have become possible.

So don’t be surprised if you can use it for paying mortgage on lainaa netistä or when shopping products over the web.

Every cryptocurrency has a minute difference in its function and make-up. This is exactly what we are going to know in this article.

Bitcoin

This has become a household name for cryptocurrency. At the moment, there are more than 16.8 million tokens that are in circulation against the current capped limit of 21 million. Its market capitalization significantly varies on a day to day basis but it hits a record high of over 200 billion dollars.

Bitcoin cash

 

This was first launched in the summer of 2017 which was an offshoot of original Bitcoin. Yet, it was able to climb the sky and become among the hottest and most traded cryptocurrency in the market.

Litecoin

This is otherwise known as little brother of Bitcoin. Litecoin has a strong resemblance with its older sibling. However, this has faster transactional speed and at the same time, with a higher token limit of 84 million. The mining process on the other hand is memory intensive and the market cap is about 1/20th the size of Bitcoin.

Dogecoin

You can easily recognize the image of this cryptocurrency from the dog Shiba Inu which was derived from the “Doge” meme on the internet. It was introduced initially as a parody but it was so hot that it had its own community. At the beginning of 2018, Dogecoin has a market capitalization of 2 billion dollars.

Ethereum

This cryptocurrency has been labeled as a decentralized app provider. It was developed originally as “world computer” super network with the goal of eliminating third-party companies in app creation.

Applications that are made on Ethereum are on distributed public platform wherein miners can get “ether” that fuels the network.

Posted by Ness Shantel

How Cryptocurrencies Can Be Financially Favorable To Your Business

Marketing, whether online offline, represent the undertakings carried out by a company or business to advocate the purchasing, selling or trading of a product, merchandise or service. This includes advertisement, sale, and delivery of products to customers and/or other companies and businesses.

A funnel, like those by Hustle Life, is built to improve marketing and would take a prospective customer throughout the entire process from the discovery of your brand or business, to the regular procurement of your products. The purpose is to build a system that is highly automated system and quantifiable at any and every point in the in the procuring journey of your customer. Funnels consist of electronic mails, landing pages, as well as content offers. You would miss opportunities on sales without a funnel since these are utilized to direct traffic into leads and which turn into sales.

In the marketing trade, cryptocurrencies as well have already made a substantial impact on the industry to improve marketing, even though specialists work on realizing the pros and cons involved. Actually, there are those who would debate that cryptocurrencies would eternally alter and transform the industry of finance and marketing.

Cryptocurrency Defined

Cryptocurrency is a type of blockchain technology, wherein bitcoins as well as other distributed ledger systems are built on. Blockchain is database that is open and shared and works in a network format that is decentralized. Basically, it is an enormous ledger of transactions. It permits users of cryptocurrencies to anonymously add and transfer information into it, without compromising security. So, how can the industry of finance and marketing gain from cryptocurrency and the blockchain technology?

Cryptocurreny Helps in Finance

Unstable cash flow is one of the challenges that every business encounter and marketing agencies as well are not insusceptible to it. Cryptocurrency could be the way out. It has certain financial advantages and less tangible benefits. Using digital currency, bitcoin for example, as a payment alternative for consumers could be in a lot of ways be favorable to a business.

  • Fees are lessened.

Payments done by means of credit card could be costly, with banks as well as payment processors usually acquiring a 3% to 5% cut. Digital currencies could in fact lessen such charges to not more than 1%. For bitcoins cash, charges or fees are typically below one cent.

  • Chargebacks are eliminated.

Transactions via cryptocurrencies are irreversible. This means that returns or chargebacks, which are usual with payments completed via credit card, are eliminated.

  • Transactions are swift.

Receiving cryptocurrencies as payments can also considerably expedite or speed up global transactions at the same time as reducing fees or charges, which is perfect for online sellers.

  • Immediately accessible.

Unlike bank-owned payments, there isn’t any waiting period for a third party-dependent. This implies that as soon as payment via cryptocurrency is successful, the amount transacted is already in your digital wallet and could be accessed straightaway. You could convert your digital currency into your local currency fiat at any time you want.

These are just a few of the many benefits of cryptocurrencies that individuals in the marketing industry could enjoy. Therefore, it is worthwhile for marketers to make time to fathom the transformations taking place in the marketing world and how cryptocurrencies could considerablt benefit you and your business.

 

Posted by Ned Queen in Cryptocurrency, Finance