980m a week but is boss ‘Drastic’ Dave Lewis off to Unilever? DAILY BRIEFING: Gatwick Airport saw passenger numbers increase by 2. Many is it worth investing in litecoin be asking: can an alternative cryptocurrency boom in 2018? In the last few months, the number of Britons getting involved in speculative cryptocurrency ‘investing’ has rocketed with bitcoin being the star attraction.
This is despite warnings of a bubble and many not truly understanding how the digital currency works. 11,800 a coin after a dive this morning. The second main cryptocurrency, ethereum, is new compared to bitcoin. Bitcoin launched in 2009 while ethererum only arrived in 2015.
Cryptocurrencies have been a hot topic and many may feel like they’ve missed the bitcoin and ethereum bandwagon. As such, they may be asking: what’s the next crypto bandwagon they can jump on? There is little doubt that some of these alt-coins, such as ripple and litecoin, have probably popped up in recent conversation about digital currencies. But what are the alternatives and are they stable and credible? We asked cryptocurrency exchange London Block Exchange to give us the key points on some of the main alternatives. This is Money would also like to add that this is not an endorsement of any of the digital currencies and because of the volatile nature, we urge you to read the fact box below. Furthermore, it is imperative to do more research if you’re thinking of parting with your cash.
Below is a taster of each digital alternative – but each one is complex in its own right. When stalwart US investor Warren Buffett says the bitcoin craze is going to end in tears, it’s worth doing as much research as possible if you are tempted in. Remember bitcoin yields nothing and its main source of value is scarcity. Most bitcoin activity is trading not investing. Research coin wallets, the digital vaults where cryptocurrency is held, and consider security carefully.
Bitcoins have been stolen before, understand how this happened. The price can move by 20 per cent in one day and you could easily lose half of your cash in a far quicker time that investing in the stock market. Consider how you would cash in any gains. There are reports that this has proved hard for some people. A time of market stress could lead to people being locked in and unable to trade.