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The Penny Stock of Bitcoin


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The Penny Stock of Bitcoin

penny stock of bitcoinFor traders who want to invest in the Bitcoin phenomena, but do not have the money to pay around $700.00 USD per coin (currently) Feathercoin and Litecoin offer a much more affordable alternative to investors. It is important to remember the demand for these alternatives is much less than the Bitcoin market so it is impossible to say if they will ever become as successful. One thing is for sure due to the way Litecoin and Feathercoin was created there will be much more of these coins available on the market than Bitoins. There are a possible 336 million Feathercoins and a possible 84 million Litecoins that can be mined.

The Litecoin Market

litecoin penny stock of bitcoinLitecoin was created as an alternative to Bitcoin. Litecoin is a peer to peer cryptocurrency and open source software released under the MIT/X11 license. Litecoin was intended to improve upon Bitcoin in a few areas. Instead of only 21 million possible units, Litecoin has a potential 84 million units that can be mined. Litecoins are processed every 2.5 minutes instead of the 10 minutes it takes to process a Bitocoin. Litecoin uses scrypt in its proof of work algorithms. Unfortunately, the benefits of scrypt never truely came to fruition as specialized currency miners still have a huge advantage of CPU miners. Currently, 1 Litecoin is $22.37 USD (asking price 12/7/2013 @10:00p.m.).

The Feathercoin Market

feathercoin penny stock of bitcoinFeathercoin is the 9th largest cryptocurrency in the world with a total value around $32 million dollars. There are a potential 336 million coins that can be generated which is 16 times more than Bitcoin and 4 times more than Litecoin. Currently, feathercoin is trading at 1 coin for $0.45 USD (asking price 12/7/2013 @10:00p.m.). So far the feathercoin network has mined 25 million coins. Feathercoin uses the exact same genesis blockchain that Litecoin uses.

Other Cryptocurrency Markets

There are also several other cryptocurrency available to trade these include:
Bitcoin………………..1st Largest
Novacoin……………..3rd Largest
Namecoin…………….4th Largest
Anoncoin……………..5th Largest
Peercoin………………6th Largest
Primecoin…………….7th Largest
Terracoin……………..8th Largest
Feathercoin…………..9th Largest
Worldcoin…………….10th Largest
Freicoin……………….11th Largest
Digitalcoin…………….12th Largest
Ixcoin………………….13th Largest
I0coin………………….14th Largest
Devcoin………………..15th Largest

No one is debating that crypto-currencies are going to be important as we move forward. The advantages of a digital currency are endless and it stands reason why they have become so immensely popular among investors. However, (at this stage) it’s up to the individual investor to decide which one is going to be the winner. Bitcoin has clearly outperformed the other currencies, and Litecoin is a distant second. After Litecoin the other 13 crypto-currencies (currently) have very little value. Investors looking to enter this market might consider buying a few coins of several different currencies that they believe have a chance to challenge Bitcoin in the future. Since they are trading so cheaply it would not be expensive to get a few different coins to hold onto (at least until a clear cut winner emerges).

Why it’s The Right Time to Invest

bitcoin crashing from china newsIf you have been following the Bitcoin market recently you know the price has dropped as much as 50% in the past few days upon news that China has banned financial institutions from trading digital currencies. This has struck fear into the market and for good reason. Immediately after the announcement the price of Bitcoin dropped 30%. Over the past few days prices have continues to trend downward as investors remain fearful that other governments might put heavy regulations on the currency similar to what China has done. While this does leave many questions still to be answered the price has gone down to very low levels compared to what it was trading at before the news from China.

Why The News From China Is Not All Bad

Many believe that China banning financial institutions from trading digital currencies is the first step in regulating the currency. one problem governments and banks (in particular) are having with the new form of currency is finding ways to regulate the market. Many banks have gone on record saying the currency is dangerous for the system and have publicly shown their disapproval of the currency. Once there are some regulations in place and systems for tracking the currencies financial institutions in China might be able to resume their use of Bitcoin. So far, despite what the banks and governments have said the prices of coin skyrocketed in 2013 as their becomes more practical use for the currency and as more retailers adopt Bitcoin (and other cryptocurrency) payment options.

Get In on The Ground Level

While many of us missed Bitcoin the other currency’s mentioned in this article are still very new. Many of them have begun just this past year alone. Many of these markets are having the same problems that Bitcoin had early on. There are people getting scammed and hackers attacking the network. These problems will be figured out over time, just as Bitcoin was able to add tighter security and a more stable network to protect against hackers. If you are considering purchasing any other coins you should be very careful when conducting a trade. You don’t want to trade too much at any one time so you will not lose your entire investment if you fall victim to a scam or hacker. Still with all the risks, the rewards of these markets are just too great.

accepted here penny stock of bitcoin

Research

The best way to see what currencies are going to be the best moving forward is to do your due diligence. I currently have not looked at any other market except Bitcoin so I can’t say with any certainty which coins are better then the others. At this point there is a market with 15 competitors all volleying for positioning as the most dominate digital currencies. Just like any industry there will be clear cut winners and their will be many losers that fail to make any impact on the industry. If you do your research and remain up to date on each currency you will have a better chance of ending up with the winners. Its a good idea to see which coins are actually accepted by vendors as these will probably be the ones that will have more success. Also, the coins that are getting the most coverage will also probably be more successful as more coverage (media) mean that more retailers will start accepting the coins. Once reputable companies start accepting the currency it has a huge advantage on the competitors in its space. This is why bitcoin is still leaps and bounds ahead of any other cryptocurrency on this list. So far Bitcoin is the only currency to be accepted by retailers across the web and is starting to be accepted in brick and mortar (retailers) as well.

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