Cryptocurrencies, ever since their launch in 2009 with Bitcoin, have opened up a world of possibilities for people around the world. They are decentralized, which means that there is no interference from any government, banks, or intermediaries. Despite their volatility, they have the potential to offer high returns.
What’s more, most cryptocurrencies are built using solid technological processes. This allows them to solve some of the world’s most complex challenges and problems.
Two such very strong cryptocurrencies are Bitcoin and Tron. If you want to know more about these two currencies and invest in them, you don’t need anything beyond this guide.
What is Bitcoin?
Bitcoin was the first virtual currency to be launched. It was created in 2009 by a person or a group of people known as Satoshi Nakamoto. It is a decentralized currency that can be exchanged between users and used to buy goods and services.
There are no intermediaries or authorities that interfere in any transactions related to Bitcoin. This is achieved through blockchain technology. This is a distributed ledger and a shared database that stores the data of all the transactions that are held on the blockchain network. As of today, Bitcoin has more than 89 million users.
If you want to invest in Bitcoin, know the Bitcoin to INR rates.
How can Bitcoin be used?
Bitcoin has been institutionalized by several countries and major Fortune 500 companies and can be used to make a wide variety of transactions. Here are some things for which this currency can be used:
- As a tip
- Can be offered as a charity
- Purchase and play video games
- Ay for food, electronics, and travel
What is the future of Bitcoin?
Experts anticipate that the value of Bitcoin can rise even up to 2 million dollars. While that’s true, it can also crash. The value of Bitcoin like any other cryptocurrency is subject to community sentiments and the hype that is attached to it.
What is Tron?
Tron is another altcoin that has gained a lot of traction over the last few years. It was launched in 2017 by Justin Sun to help democratize and decentralize the Internet. One of its main aims was to offer complete ownership over content to the original creators of this content. It aimed to remove interference from intermediaries such as Amazon and Netflix and allow people to pay the content creators directly.
The Tron network has almost 50 million users as of the date and its platform continues to be innovated and improved upon.
Tronix (TRX) is the native currency of the Tron blockchain. It is ranked amongst the top twenty cryptocurrencies in the world in terms of market capitalization. If you want to include TRX in your portfolio, get to know the TRX to INR rates.
How can Tron be used?
Tron can be used for a variety of purposes. These include:
- Purchase goods and services.
- Exchange for other cryptocurrencies or fiat money.
- It can be used as a store of value.
What is the future of Tron?
Tron is a fast-growing cryptocurrency that reached a value of around $108 million within thirty days of its launch. The transaction fee on the Tron network is zero and it has a very high transaction speed, much more than that of Ethereum and Bitcoin.
Though both Bitcoin and Tron have great prospects and the potential to solve real-world problems, just like any other cryptocurrency, their future is uncertain. The crypto markets are rife with volatility and depend completely on the hype and sentiments of investors. Before investing in either of them, get to know the latest trends and news about these currencies. You can rely on unbiased and independent platforms like Coinswitch for this. As the final word, before investing in crypto, assess your risk appetite and relook at your investment goals.
