Litecoin hasn’t been around quite as long as Bitcoin. But it’s only a couple of years younger than Satoshi Nakamoto’s creation, and has shown staying power as one of the leading alternatives for cryptocurrency traders and investors.
If Bitcoin’s decentralised ledger is the first generation of blockchain technology in action, the second generation is exemplified by smart (automatically executed) contracts and the third generation is decentralised applications, or dApps (also frequently written as dapps, Dapps or DApps).
Cryptocurrencies aren’t like land, gold, stocks or other traditional forms of investment, but there’s one rule that holds true for investors no matter what: you should never invest more than you can afford to lose.
If you’re looking at investing in cryptocurrencies, Bitcoin is a reasonable choice to start with – if for no other reason than it’s the cryptocurrency that’s been around the longest, with the most extensive track record in valuations and trades.
Using Google to search “how to trade bitcoin” will return more than 150 million results in less than a second. For newcomers to the cryptocurrency community the amount of advice and choice can be overwhelming. However, the number-one concern for those looking to invest in cryptos is security.
A cryptocurrency is a digital form of exchange that uses cryptography (encrypted code) to create units of the currency (coins) and carry out secure transactions. The encryption allows cryptocurrencies to work as a virtual store of value that’s practically impossible to counterfeit.