Undoubtedly, the different types of cryptocurrencies they had a great impact on society, and the question What are cryptocurrencies? it is a very common question.
They can be used for many work and social enterprises and people are looking for ease and of course safety, it is a method of money that offers this significantly, guaranteeing balance and security in our banking processes.
This is an easy system because it does not have such a high transaction cost compared to the other options because It is not allied with any type of intermediaries or developers of other branches, being able to buy and sell Bitcoins in different countries.
Also called cryptocurrencies, it is a process that does not require any financial agent to streamline processes using this innovative method for society, using Internet applications that allow changes to be made to cryptocurrencies.
It is directed directly from the buyer to the seller himself, therefore it does not require external persons to influence the process that takes place at the time of the change.
Which cryptocurrencies are the most used?
There are different types of cryptocurrencies, including Litecoin, based on the payment of daily services, and transactions through it can be faster and more immediate than other options, which generates a wide use of large retail companies, we can buy them through PayPal , but At present, payments with this type of currency are somewhat limited.
It is also provided NEO, which has been a great ally when making purchases and payments, many users consider it one of the platforms that is at a higher level than the others.
We have IOTA in the same way, being a unique type of cryptocurrencyIt is practically designed to be used with devices that are compatible with the web or the internet in this case, while maintaining the integrity of users who use these types of payments.
What is Bitcoin Cash and how does it work?
It is a cryptocurrency that functions as a payment network, having some similarities to Bitcoin, this uses the same blockchain technology, with several nodes that handle the verification of each transaction and that it is totally legitimate.
It performs various functions such as send and receive money directlyIn other words, from person to person, it is not necessary to ask for mediators who are often used for banking transactions of different types.
It also allows its use as the main payment method, although its use is not very common, as it was recently innovated and has not yet entered the payments market in a strong way or significant.
In the same way, Bitcoin Cash is a viable employer to make different investments to our liking, but yes, making sure that we invest an amount of money that maybe we should be willing to lose at some point because you do not always earn on these investments.
Some differences between Bitcoin and Ethereum
One of the great things that differentiates these two methods is that Bitcoin has a higher output than Ethereum, Bitcoin being accepted as an international digital currency, instead Ethereum, transactions coming from digital applications are accepted or that their origin is exclusively by «dapps».
Also, betting on a difference between their transactions in Bitcoin transactions can be from seven to eight per second, but for good news, in Ethereum there are between 16 and 20 transactions that we can perform, giving it a great advantage and that’s what the employers of these cryptocurrencies said.
All users have their own preferred cryptocurrency, so the differences are noticeable when choosing one, both being the most recommended by several people who have already used them, but when using these systems you need to be well informed about how to use Ethereum and the others cryptocurrency.