In this blog, we will look at the development of crypto-currencies so far. Recently in 2016, there was a notice to ban any crypto mining, holding, buying, selling, and dealing. However, we did not see those rules being implicated till date. Today we know bitcoins are a big part of the trend. We can see almost everyone investing in bitcoins easily nowadays. But on the other hand, we also know that bitcoins are limited, only 21 million bitcoins can be used in total, and that’s why the price of bitcoins is high and are not easily affordable by the middle classes.
Bitcoin
Bitcoin is one of the best-known cryptocurrencies, which does not involve any third person, any physical mode of payment, etc., thus making it independent to make financial transactions on your own. Since 2009, it always has been proving itself as one of the best cryptocurrencies. Many crypto-currencies have been able to develop after the growing trend of bitcoin. If you want to invest in bitcoins, then you can start trading at official quantum ai.
There are majorly two reasons which lend value to bitcoin. As more people are showing interest in this, we take the ease of storing and good exchange value for reason.
Bitcoin is compared with gold sometimes, as it is believed there will be only 21 million bitcoins. The track of the bitcoins is kept by a vast globally distributed network of independently operated computers, ensuring no loss of any bitcoin. Also, you can divide the bitcoins into million pieces; it is easily divisible. The reason why bitcoins are so trendy and reliable these days is that it is to send any amount of money to anyone with safety through this process. The next question arises about how to sell and buy bitcoins. One needs to do a lot of research on apps or sites which provide the opportunity to buy and sell them. Websites like buy bitcoin etc., are there too. Sending a bitcoin is as easy as just choosing the address and amount to be sent, and receiving it is just providing the sender your address. Also, on the other hand, issues can occur with bitcoin as a hacker enters and breaks into different accounts.
Precious Metals
 There are several gold-backed crypto-currencies: tether gold, Perth mint gold, gold coin, etc. Let’s talk about tether gold here in particular. These are a kind of token whose value increases with the general increasing precious metals like gold, silver, etc. As the price of bitcoin can rise and drop within a few seconds of growing, it is volatile. But the cost of these tokens, which are gold-backed or us dollar-backed, increases their value with the rising price of their respective metals. As the price of gold goes up, the cost of tether gold or any gold-backed crypto also grows, and it has a lesser chance of falling off its price. The Tether was founded in 2014 by Reeve Collins, Brock Pierce, and Craig Sellars. But gold-backed crypto’s didn’t gain popularity as much as bitcoins did. People generally approach the trends which are trending in the present-day market. Gold-backed crypto can also be transformed into physical gold and used while investing or buying a new flat or other object that need a more significant value. These are generally stablecoin sectors that are keen to avoid volatility. Tether was declared an actual coin in 2014 and was one of the first successful stable coins.
Where to invest?
In my opinion, standing in today’s date, we should focus on investing in bitcoins as a better option as it is already reliable and known to many people. It has a sound encryption system which makes a person believe in the process more. Precious metals like Tether may have been once declared one of the best stablecoin, but their popularity didn’t grow as much as bitcoin. So if anyone is keen to invest in precious metals, it is essential first to do first-class research on it and get connected to someone who already has a good experience with it. Else it is always a better option to choose bitcoin as a way of your investment, whether it is mining, selling, trading, or buying some value.
