Comparing and Contrasting Cryptocurrencies

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A selection of cryptocurrency tokens.

A Mother and All Her Offspring

Bitcoin

Bitcoin is built on the blockchain and is backed by a large network of developers all over the world. There is no centralized entity that verifies transactions, which are instead determined by the network itself.

Because Bitcoin was first to market, it has the most brand recognition and is the most widely-adopted cryptocurrency in the world. Some of the largest multinational companies in the world, like Starbucks and Microsoft, have begun accepting the crypto.

Bitcoin also has the most liquidity of any other cryptocurrency. This means that it can very easily be bought and sold using cash.

Bitcoin can be bought and sold using an online exchange, or in person at a Bitcoin ATM. For online purchases, users must provide debit/credit or bank account info. For Bitcoin ATMs, users are able to buy and sell using cash while only sharing minimal personal information. Find the nearest Bitcoin ATM to you here.

Ripple

In addition, Ripple is supported by some of the largest financial institutions in the world, such as Santander, UBS, American Express, RBC, etc. As a result, the cryptocurrency is less susceptible to any government regulations that could be passed in the future. However, this also means that these institutions have a hand in the operation, holding Ripple at the mercy of a third party, unlike Bitcoin which is completely decentralized.

Litecoin

Litecoin uses the same decentralized system as Bitcoin to validate transactions. The main difference between the two is that Litecoin can confirm transactions faster than Bitcoin. Because of this, Litecoin is able to process higher transaction volumes. However, this means that Litecoin’s blockchain will be significantly longer.

Ethereum

Ethereum has solidified its place in the crypto world, having taken over market share from all of the major altcoins except Bitcoin. Ethereum is moving forward and has a bright future ahead of it. Decentralized applications have the ability to disrupt some of the world’s longest-standing industries.

Which Coin Should You Choose?

What Is Coin Cloud?

Written by

The world’s leading operator of two-way Digital Currency Machines (DCMs), a.k.a. Bitcoin ATMs.

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