Increasing Digital Currency In addition to Bitcoin
The rivalry between the United States and North Korea that mention nuclear weapons in the media, apparently has an impact on the surge in Bitcoin exchange rates.
Last weekend, the price of one Bitcoin closed equivalent to US $ 4,224 or approximately Rp56 million. At the beginning of this week, he even touched the number 4100 US dollars or equivalent Rp58 million. Investors in financial markets prefer to invest in challenging crypto alias digital currencies like Bitcoin, rather than investing in safe havens such as gold or US government bonds.
Bitcoin, with market capitalization (marketcap) worth 71.5 billion US dollars or equivalent to Rp954 trillion (as of August 15, 2017), is the largest crypto in the world today. He is known as the "father" of all crypto, as it comes as the first decentralized digital currency. But, not everyone knows that Bitcoin is not the only crypto that exists. At least, from what CoinMarketcap notes, a crypto stock exchange site, there are 848 other cryptoes including Bitcoin itself.
Bitcoin first came in 2009. Two years later, Litecoin was present as a competitor. In March 2015, hundreds of crypto followed. They come with their respective advantages, especially in security breakthroughs.
Bitcoin is well known as the first crypt to introduce blockchain technology, allowing the growing digital currency investment. Basically, Bitcoin is electronic money that is transferred over the internet. It is distributed without the need to go through any intermediary including the bank, directly from one person to another, so the transaction costs become much cheaper. Transfer time is also relatively shorter than the bank.
It can even be accessed on a mobile phone or personal computer via an electronic wallet. With digital money, we can also buy anything. Its use is as easy as sending email. The security of the process is monitored and protected by a number of individuals called miners. They are also the ones who verify every transaction which is then recorded in the internet cash book, meaning it can be seen by everyone.
This technology is then followed by other digital currencies, but added a distinctive breakthrough respectively. Litecoin, for example, was present in October 2011 as the first digital currency with a scrypt security system-which forms a Key Derivation Function (KDF) keyword system. Litecoin tightens the user's password security. They believe, similar to banking, security will affect the confidence of potential investors.
Now, Litecoin is always in the top 10 crypto with the highest market capitalization value. Until earlier this week, the value reached Rp30.5 trillion. But the exchange rate is still classified as low, 1 LTC equivalent to about Rp528 thousand.
In addition to Bitcoin and Litecoin that comes first, Ethereum is one of the crypto on the rise. In the first half of this year, the value of market capitalization rose despite unstable. When judging from the first time out in 2015, the Ethherum-ethere value-up to 2,300 percent. Putting it as the second most commonly used and most valuable cryptto after Bitcoin. CoinMarketcap noted that its market capitalization value reached Rp374.1 trillion.
Compared to Bitcoin, Ethereum growth is relatively slow. Telegraph noted, in the first 18 months exchange rate of 1 ETH is only equivalent about 10 US dollars. New in March then rose slowly, and peaked with a value equivalent to 395 US dollars in June. Although again fell to 155 US dollars a month later in July. In early August, he again climbed at the number 298 US dollars.
However, compared to Bitcoin, Ethereum's increased demand is higher in recent weeks. Especially in the area of South Korea. According to CoinMarketcap, 40 percent of enthereum trade is paired with won, South Korean currency. This is of course due to its geographical location close to US and North Korean rivals. However, the increase has not managed to catapult Ethereum's value to its peak again.
Among the top ten cryptoes with the highest market capitalization, only two of them recorded stable increases. In addition to Bitcoin, IOTA, the first crypto to offer free transactions. Compared to Bitcoin, the percentage increase of IOTA is actually four times higher. He entered the top five crypto list with the highest market capitalization price, worth Rp36, 4 trillion.
Another crypto that also experienced a spike is NEO, although it had come down again earlier this week. As of Aug. 12, the increase was 32.8 percent, but down 7.58 percent on Aug. 15. He entered number seven in the top ten crypto list with the highest market capitalization value. The value is equivalent to Rp30.5 trillion.
One of the users is Vinsensius Sitepu, observer and practitioner of digital currency. "I hold 3.4 NEO. I bought a total of 500 thousand rupiah on June 20, 2017. Now the value has been 2.2 million IDR, "he said, Monday, August 14, 2017. He himself saw the level of user confidence in China's virtual currency is very large. "Because over the last week, NEO has scored some good performance, starting from the launch of platform version 2.0 and roadshow in Japan," he added.
Reported by Forbes, NEO is one of the crypto is on the rise because of its breakthrough in the latest blockchain technology. It is one of the platforms that offers Smart Contracts-a software that can track and automate agreement fulfillment in blockchain technology.
Another crypto name that is also on the rise is Monero (XMR). It offers untracked, secure, and private services, as opposed to a transparent Bitcoin service. Make Monero a favorite of black world actors. Evident from hacking Ransomware WannaCry tempo hai that make the world cry. The hacker converts the Bitcoin ransom they earned into Monero, so the flow of these coffers is untraceable. In CoinMarketCap itself, Monero penetrate up to rank 13. Market capitalization value up to Rp9, 6 trillion.
Other popular cryptoes are Ripple, NEM, and Dash, which are still in the top ten crypto list with the highest market capitalization value.
But, throughout its development, not a few crypto cap and can not compete. For example COINYE, the crypto company demanded by Kanye West-American Hip-Hop artist-for using himself as a logo. However, compared to the ever-increasing number, crypto-crypto fails does not seem to dampen the lively digital currency investment.
But that does not mean this investment is not risky. Due to the free market, the trading of digital assets such as virtual currency has a high risk. The price is very volatile, can change at any time. Not to mention the risk of hacking on the company's website exchangers, as happened to Bithumb, in South Korea, early July yesterday.
Vinsen, which invests digital assets in a number of crypts, has suggestions for those interested in plunging into a digital currency investment.
"For the newbie must learn a lot from the beginning before plunging into this" game ". The digital currency ecosystem while still infant is not yet mature. Beginners should be self-contained with as much appropriate information as possible to reduce the risk of great loss, "he told Tirto.