In the simplest terms, Bitcoin is just another currency. The term Bitcoin refers to the entire currency system, whereas bitcoins are the basic units of the currency. As with dollars, euros, yen, and gold coins, you can save bitcoins, spend them on goods and services, and exchange them for other currencies. However, Bitcoin is the world’s first currency that is both digital and decentralized.
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Litecoin is known as the silver to bitcoin’s gold. However they have some differences between each other. Litecoin is based on an open source code which makes Litecoin four times faster than Bitcoin in terms of block creation and transaction confirmation. Litecoin can max out at 84 Million coins.
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Ripple is a different type of brand new crypto currency. Ripple provides access to a global network of banks and market makers. Ripple decreases the costs and increases the speed of money transfers in all-around the world. So that, it is believed that it has huge upside potential.
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Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two. Ethereum differ substantially in purpose and capability. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto token that fuels the network.
You can buy, sell, trade Ethereum in any direction in Phase Markets with leverage