Bitcoin is the best known virtual currency. But, there are many others. Among the different alternative currencies, called cryptocurrencies, some have many advantages. Moreover, investors are interested in this parallel market. Discover the most promising currencies of the future. What e-currency can you bet your money on without fear? All the answers in this article. But above all, here is an overview of the best platforms to buy your cryptocurrencies:
Where to buy cryptocurrencies in 2019?
#1 Coinbase – The best platform 2019
Coinbase is the best and most respected platform in the world. In addition to offering the purchase of cryptocurrencies, Coinbase protects your currency through its virtual wallet, which makes it one of the easiest platforms to get started with Bitcoin. Coinbase also supports Bitcoin Cash, Ethereum, and Litecoin.
Once you register and connect your bank account, you can easily transfer funds, convert to Bitcoin and then to Euros at will. Coinbase charges a variable percentage of 1% for euro transactions.
The Coinbase wallet is very secure, accessible through the web app or mobile app, uses two-factor authentication, and maintains multiple digital backups. In addition, your funds are insured up to 250,000 euros against theft or bug of the site. Coinbase holds 98% of its customers’ currencies offline to protect them from malicious hackers, further proof why Coinbase is a leader in digital currencies worldwide.
#2 eToro – A unique crypto trading platform
eToro is a well-known fintech startup, an Israeli social broker established in 2007. eToro is not listed on the stock exchange, does not publish its annual report on its site, and does not have a parent bank. It is also one of the top 3 trading platforms for Europeans.
eToro is considered safe because its UK arm is regulated by a top regulator and it is a well-known fintech startup.
eToro is a multi-asset platform that mainly offers CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. However, eToro is an excellent buying platform for crypto.
#3 Binance – The lowest transaction fees on the market
Binance supports a wide range of crypto, including bitcoin, ethereum, and its own currency: Binance Coin (BNB). Binance charges very low fees at just 0.1 percent for transactions. If you want to go way beyond the most popular cryptos, Binance is your best bet.
Binance offers the ability to trade crypto in multiple currencies and supports digital currencies including EOS, Skycoin, TRON, ICON, Ethereum Classic, Litecoin, Ripple, Stellar Lumens, Bitcoin Cash, plus a bunch of cryptocurrencies you can you’ve probably never heard of.
Although this platform offers a wide range of currencies at a low cost, there are some reported bugs with the Android mobile app and some users have reported delays in withdrawing certain currencies.
Definition of a cryptocurrency
Cryptocurrency refers to fully virtual and electronic money. It does not require banknotes or coins. In reality, this so-called alternative currency is the result of open source software that can be used thanks to a decryption code.
With a cryptocurrency like Bitcoin, you can pay for your purchases and carry out all kinds of transactions such as transfers. To replace assets with goods, services or currencies (euros, dollars, etc.), all you have to do is go through an online trading platform. Namely, the scale of value happens to be the same as that of traditional currencies.
Peculiarities of cryptocurrencies
Virtual currency has a singularity that differentiates it from other currencies: it escapes all banking control. In this way, transactions are carried out quickly and at a lower cost.
In fact, transaction information is listed in the blockchain. This name refers to a decentralized file network serving as a central bank. The blockchain can still be consulted by any Internet user. This immense directory mentions the trace of each transaction with the following information: amount, sender and recipient address.
Note, some electronic currencies like Dash allow anonymity with an impossibility to trace the transaction.
Using cryptocurrency on a daily basis has many advantages. Indeed, these virtual currencies are not subject to any government or banking control. They can be used freely to carry out any transaction.
On the other hand, cryptocurrencies like Bitcoin represent safe means of payment since digital counterfeits are impossible.
However, cryptocurrencies also have some disadvantages, which should make you think before investing. These are alternative currencies. Therefore, they have no legal tender in the world. And they are also subject to inflation and deflation.
Know that there are more than a thousand different electronic currencies on the market. While some of them are still of little interest to investors, others, on the contrary, are proving promising.
Bitcoin, a promising cryptocurrency
Bitcoin continues to be the most accepted virtual currency in online commerce. In general, many websites accept it as a means of payment, especially if they are specialized in the high tech sector.
Created in 2009, bitcoin remains a reliable and secure currency. Impossible on the blockchain to modify a transaction carried out with this currency. By using Bitcoin, you do not need to reveal your identity. Send or receive online payments free of charge using this electronic money.
On the other hand, Bitcoin has a very volatile exchange rate, a fact that investors must take into account. On the other hand, the quantity of Bitcoins in the world turns out to be limited to 21 million. Impossible to cross this course. In reality, this limitation wanted by its creator (himself remained anonymous), makes it possible to give real value to Bitcoin.
Be aware that some specialists compare the value of this cryptocurrency to that of precious metals. Nevertheless, some economists are more skeptical about the longevity of this electronic money.
Ripple (XRP), soon to be market leader?
It is one of the first cryptocurrencies in the world and it is gaining momentum. Indeed, it is appreciated for its speed and security in commercial exchanges. Virtual currency is capable of performing more than a thousand transactions per second and transferring funds in real time.
On the other hand, Ripple takes over the banking process using SWIFT transactions.
An interesting currency for investors because it could well supplant Bitcoin in a few years and thus become the market leader. Moreover, some financial institutions like UBS are beginning to use it.
Ethereum, a revolution ?
This cryptocurrency facilitates payments between users and offers enhanced reliability. Indeed, all the transactions carried out are secure and rely on the blockchain.
It is no coincidence that many investors are very interested in Ethereum for their projects.
Also called Ether, this currency is one of the best known with Bitcoin. Its main strength is to offer smart contracts. In just a few seconds, Ether puts in place foolproof contracts, more effective than those written by human hand.
Maybe in the future Ethereum will be able to replace notary studies, for example. In any case, the currency makes us review our current system.
dash, a good investment
This crypto-currency created in 2012 is one of those on the rise. As advantages, it has very low transaction fees, and it excels in terms of speed. This exchange currency is very popular and could dethrone Bitcoin as an alternative means of payment.
It is quite possible to invest in Dash speculatively in order to draw profiles. Investment can be made on the eToro and Binance platforms.
Electronic currencies to watch in 2019
The IOTA cryptocurrency shows its difference by being based on a different technology from the blockchain. It is based on the Tangle system whose architecture has nothing to do with the blockchain. It is an alternative currency of the future that has not yet revealed its full potential. However, its entry on Coinbase is a positive sign.
On the other hand, the NEO is among the most serious competitors of Ethereum. Experts predict a promising destiny for him.
Created in 2014 under the name Antshares, this new currency is one to watch.
VeChain, too, has been able to hold its own. In 2018, this crypto-currency made a change of image by no longer targeting the Internet of Things. Today, the company wants to offer companies a platform for their decentralized applications. The market expects a significant rise in the price of VeChain in 2019.