Monero (XMR)- a fork of Bytecoin is a secure, private, and untraceable digital currency that is built on the Cryptonote protocol using Ring Signatures. Proof of Work (PoW) mechanism called CryptoNight issues new coins that provide incentives to miners for securing the network and validating transactions. Originally launched in April 2014 as BitMonero, Monero aka XM is called a privacy coin because it has inherent privacy features. Unlike most other famous blockchains, Monero’s blockchain is designed as opaque where no one else can see the account’s balance or history of transactions.
Litecoin (LTC), which is known as the silver to gold of Bitcoin, has become a big cryptocurrency since 2018. Litecoin, or "LTC," is the world's second most popular cryptocurrency after Bitcoin and the third most valuable cryptocurrency overall.
Cryptocurrency is now the industry that grows tremendously every day and no one is willing to be indifferent. It’s no longer just digital cash. Instead, it is a huge investment opportunity that attracts the attention of large organizations, investors, and traders worldwide.
The term “Cryptocurrency” made a benchmark in the digital trading platforms across the globe in recent years. Since many people are emerging towards digital currencies, they are the most trustworthy ones to deal with. Moreover, the cryptocurrencies are digital, so one cannot touch or feel the currencies like fiat currencies. This intended many startups and investors to march towards popular cryptocurrency exchange services.
Originally published at millennialmoderator.com by Diana Smith
What is a cryptocurrency exchange?
This volatility indeed gives traders and investors great opportunities to reap decent profits. This volatility has made crypto assets a highly rewarding investment alternative to traditional options.
Facebook which is one of the perceived online life entries has declared their arrangements to present a digital currency named 'Libra' which share comparable highlights to that of PayPal and bit coins. It was solely intended for the ones who don't hold a ledger or have Mastercards and encourages budgetary exchanges.
The coronavirus crisis has opened up new questions for the future, one of which is what role cryptocurrencies can play in the years to come.
While bit coin came up as the first-ever crypto currency in the year 2009, few people would have expected to make it big in the financial markets across the globe.
As the world embraces digitization, the paperless currency is the order of the day. The most exciting addition to digital payments is cryptocurrency. It is a virtual currency that uses cryptography making counterfeiting difficult. Despite the risks involved, it has captured the imagination of businesses and entrepreneurs. Before diving into trading, it is important to know the steps to start a cryptocurrency exchange business.