If you want to go big, Stop thinking small.

If you want to go big, Stop thinking small. 

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Why does Zimbabwe Have a Sudden Interest in Bitcoins?

You may not remember, but a few years ago a trillion of Zimbabwe’s currency was worth less than a dollar. That story underscored the threat of hyperinflation and the worry still continues for the African nation.

Whenever there’s worry about paper money in any nation, people turn to reliable fail-safe commodities like gold. Cryptocurrency is also safe from inflation because no central authority prints it or controls its value.

Now, Zimbabwe continues to face issues with currency. It plans to switch to the US Dollar, but cannot print the money, as only the US can do that. This leaves them reliant on imported cash, a highly risky situation to be in. Economists are pointing to the country’s rapid increase in supermarket prices, which have shot up by 150% in the past two months.

Locals businesses are unable to operate in such a damaged economy. Software engineers are using Bitcoins to buy software and local enterprises are doing the same for hiring transport vehicles and materials.

All of the reasons mentioned above have led Zimbabweans to cryptocurrencies, and Bitcoins, in particular, to conduct their business operations and even go about their daily lives. 1 BTC was trading as high as $9,899 dollars, and prices are wildly fluctuating as we speak. The global average of Bitcoins is roughly $5000, about half of the value in Zimbabwe.

Unlike before, where there was plenty of cash that was of no value and could not be used to buy things, the problem Zimbabweans now face is that they have too little cash with which to buy things. They hope that cryptocurrency can solve their problems.

While cryptocurrency is safe from inflation, it should not be approached in the way that it has in Zimbabwe. When there’s a mad rush for any investment option, it destabilizes the market and can have consequences that ripple out over time. The system is also subject to abuse -as wily investors can make a profit out of the unnatural price surges in the country.

That said, the fact that people can see the benefit of cryptocurrency, specifically how it is immune to inflation by its very nature, is a good sign for the industry. When governments do employ better financial policies and regulations related to cryptocurrency, the kind of situation that has arisen in Zimbabwe is likely to be prevented.

There’s one thing that’s certain: cryptocurrency is certainly taking the world by storm. Stay tuned to Money Trade Coin to hear all the latest news about digital currency.

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The Market Capitalization or Share of Cryptocurrencies

You’ve probably heard of at least the following cryptocurrencies: Bitcoins (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRC) and of course, Money Trade Coin (MTC).

However, there are many, many more cryptocurrencies. In fact, there are over 1000! You certainly don’t know all of them. It’s clear that there are a selected few that are faring better than others, making up most of the market share in cryptocurrencies.

This is what we’ll be discussing today: which forms of digital currency make up the market and why. There’s a reason why some have claimed the throne of the most popular currency and why there are a few upstarts that are rapidly claiming investors.

The market cap for cryptocurrency is valued at about $150 billion, with projections of a whopping $1 trillion by the mid-2020s. Which of them stands to be numero uno by then? Let’s find out.

Bitcoins

Bitcoins, you shouldn’t be surprised to here, is at the top, with the largest market share of just under $125 billion. Compare to that the next highest on the list, Ethereum, which is about $28 billion. Bitcoins dominance come from it being the first cryptocurrency and its many years of maturation. A Bitcoin variant called Bitcoin Cash also has the third highest market share, at roughly $11 billion.

Bitcoin is currently valued at $7,417 dollars.

Ethereum

Ethereum is next up on this list, with a market share of $28 billion. Ethereum’s rise is largely because of its incorporation of digital smart contracts. However, it has still not entirely convinced investors, who are holding their bets back on its likeliness to dominate the cryptocurrency market in the years to come.

Ethereum is currently valued at about $300.

Ripple

After Bitcoins, Ethereum and Bitcoin Cash, comes Ripple. With a market share of just over $8 billion. It has seen growth with numerous institutions like the Massachusetts Institute of Technology and Santander employing it. These entities prefer Ripple over Bitcoin because they believe the security and pricing aspects are better.

Ripple currently hold $8 billion of the cryptocurrency market and is valued at $0.208 - it has a much larger supply of coins!

Litecoins

Lastly, we have Litecoins, which has captured $3.2 billion of the market. Technically, there some differences between LTCs and BTCs. Practically speaking, this translates into almost zero transactions fees and almost instantaneous payment. It possesses $3.2 billion of the cryptocurrency market. It is valued at $61.

Don’t think that the cryptocurrency market has already been cemented with these digital currencies. The nature of the cryptocurrency is highly subject to change and a breakthrough cryptocurrency is always being sought out by developers and investors. Things can change in as quickly as a day.

That’s why you should visit Money Trade Coin to hear about what’s hot and what’s not, what to do and what not. We’ll give you tips on how to tackle the cryptocurrency market!

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It is not from where you start, but how high you aim is that matters.

It is not from where you start, 

But how high you aim is that matters.

#MoneyTradeCoin #Newage #Cryptocurrency #MTCOIN