The crypto currency world is exploding. If you haven’t jumped on this rocket to your financial freedom it’s not too late. Bitcoin is at 57% market dominance! That’s huge. As you dive deeper in to the world of crypto currency and start send BTC here and there for investments you will undoubtedly notice the extremely high fees and long wait times to send your BTC. The reasoning for this in basic terms is BTC is an old technology. Bitcoin is only capable of performing 4 transaction per second maximum. In comparison Visa is capable of performing 1000 transactions per second. If you have purchased any other crypto currency like Litecoin or Ethereum you probably noticed the low fees and high speed of sending your coins.
So why is Bitcoin the leader in crypto currency if it’s so slow and costs so much to send?
The simplest answer is was the first crypto currency. Usually the first of any product to the market place dominates the market. This isn’t true with everything but for most it is true. Bitcoin will always be around. Think of Bitcoin at the trunk of a large tree and all the other crypto currencies are the branches. Without a healthy trunk the tree will die and that goes for the crypto world with Bitcoin.
My bet is on LTC or ETH to take over the everyday use market in crypto currency. They are newer technology, more of a supply, and have much lower fees.
What are your thoughts on Bitcoins life span in the crypto world? What’s your pick for the next big coin to run up? Comment below.
Happy investing !