Bitcoin (BTC) has been making a lot of headlines in recent weeks with its seemingly relentless growth, prompting many to take the cryptocurrency a bit more seriously. Understanding what exactly cryptocurrency is and furthermore, understanding how to trade it, can be a daunting task for somebody new to the concept. There are a number of exchanges where you can purchase Bitcoin and other altcoins (cryptocurrencies other than Bitcoin), many of which are byzantine to say the least.
If you are relatively new to trading cryptocurrencies and you are in the U.S., chances are you started trading Bitcoin, Ethereum and Litecoin on Coinbase. While Coinbase is a great place to start because of its simple and intuitive interface, quick funding process and good reputation, it has a very limited currency offering. Currently one can only trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash, though they plan to add more. For this reason, many opt for the bigger exchanges like Bithumb, Kraken, Bitfinex, etc.
Unless you've been living under a rock for the past few months, you've probably heard about Bitcoin's skyrocketing price. The almost daily headlines have focused a lot of attention on the cryptocurrency markets and altcoins (alternative cryptocurrencies), and the masses are now rushing to find the next Bitcoin. While there may or may not be another Bitcoin, there is still plenty of potential in investing in cryptocurrency, as seen in Ripple's (XRP) 1000% jump over the past couple weeks.
While Bitcoin (BTC) has long been the star of the crypto-currency world, another currency has recently been upstaging Bitcoin. That currency is Ripple (XRP), which aims to replace old, costly, outdated international bank transfers that can take days with its blockchain technology that takes only seconds to complete.