Bitcoin and other cryptocurrencies have become popular in the past few year and they are in the news almost every day. People look these currencies as more important compared to real currencies. The main reason being their unregulated feature and thus, lack of influence by a national bank. These currencies have not to worry about their value linked to the inflation rate in the country. If their importance will go on mounting like that, the governments will have to think about linking them to a banking system and time will come when national banks will have their cryptocurrency. Someday probably, the real currencies will have a new look of cryptocurrency and real currencies will trade as cryptocurrencies.
The genesis of Altcoins
The facts are clear in the practical sense and no one can raise question on the importance of cryptocurrency trading today and in the coming times. There was a time when Bitcoin trading was on the highest level, but many other cryptocurrencies are gaining ground and it would be wrong to rate any one as the best cryptocurrency in the current scenario. Cryptocurrencies came in existence after the success of Bitcoin are referred to as Altcoins and many of them have been taken as the best alternatives to Bitcoin. Altcoin is a no single cryptocurrency but a crowd of hundreds of cryptocurrencies. No doubt, the success of Bitcoin trading has opened avenues for its successors, but the altcoins have good diversity and trading in Altcoins has gained dominance over trading of Bitcoins. People like Altcoins and like them for their benefits even if they don’t understand precise mechanism of their working, but they are familiar with the success of Bitcoin and hold their trust in its successors also.
Time has changed when Bitcoin was the only cryptocurrency for trading but now there are hundreds of alternatives, the altcoins that can be traded in a better way compared to the first cryptocurrency.