In January 2013, it priced at just $13.36.
Four and a half years later, it was up to $19,661 – a gain of 147,063% -- before pulling back.
I’m talking about Bitcoin – the cryptocurrency that’s taken the world by storm, creating overnight multi-millionaires along the way.
But it’s not the only crypto currency you should be watching.
Here are four other crypto currencies that investors have been watching.
Introduced in 2013 by crypto researchers and developer Vitalik Buterin, Ethereum is the said to be the next Bitcoin. At the moment, the only difference between the two is the price and the fact that Ethereum introduces smart contracts, or a computer algorithm that allows users to build or develop innovative tools and system. They also run on Blockchain and cut out the need for third parties, thereby saving time and money by the user. According to Coin Spectator, Ethereum could price at $1,000, near-term thanks to increased popularity.
In 2011, Google employee and MIT grad Charles Lee created Litecoin, or what many refer to as silver to Bitcoin’s gold.
According to Daily Dot:
“Where other cryptocurrencies from that time failed, Lee’s succeeded by taking Bitcoin’s original technology and tweaking it slightly to appeal to Bitcoin miners and improve upon Satoshi Nakamoto’s model. The major benefit to investing in Litecoin over Bitcoin is the transaction speed. Litecoin blocks (or transactional histories) can be generated four times faster than Bitcoin blocks, which makes buying and selling Litecoin extremely fast. Because of the improved transaction speed, Litecoin’s blocks are also bigger and can handle higher volumes of information. There’s also more Litecoins in existence. Where there can only be 21 million bitcoins, 84 million litecoins can be mined.”
Ripple connects banks, payment providers, digital asset exchanges and corporates through Ripple Net to provide a frictionless experience to send money globally, according to its founders, Ryan Fugger, Chris Larsen and Jed McCaleb.
According to Market Watch:
Ripple has licensed its blockchain technology to over 100 banks. And a new hedge fund recently announced it would be denominated in XRP. Its CEO recently told Fortune: “We’re not anti-bank, we’re not antigovernment, we’re not anti-fiat currency. For a while that took conviction to stay the course in the face of the more libertarian elements of crypto.”