Below is various information that our team at Fairwinds Management Limited has compiled about cryptocurrencies and exchanges. For more information, do not hesitate to contact us on info@fairwindsmanagement.net.

Top ten cryptocurrencies

Bitcoin

Bitcoin

Bitcoin that was created in 2008 provides fast and secure peer-to-peer transactions across the world against low processing fees and is considered to be the market leader. Bitcoin is an open-source and the Bitcoins that are generated from mining as an exchange of math problem solving, are put in a Bitcoin wallet that can be downloaded on a computer or a mobile phone. This cryptocurrency is a ‘blue chip’.

Ethereum

Ethereum

Ethereum is similar to Bitcoin in that it is a distributed public blockchain network. While Bitcoin works on a peer to peer system that allows Bitcoin payments, Ethereum focuses more on running the program code. Ether, which is earned by Ethereum miners is used to pay for transactions and services on the Ethereum network with one of the capabilities being the building of smart contracts.

Ripple (1)

Ripple

Ripple uses XRP in the same way that Ethereum uses Ether. Ripple is a distributed network requiring various parties to validate global transactions thus facilitating transactions and transfer fees as well as making them cheaper and promptly. Unlike Bitcoin and Ethereum, Ripple was created with 100 billion XRP and that number is maintained unlike Ethereum which has no set limit. The number of XRP tokens is maintained without any mining.

Bitcoin Cash

Bitcoin Cash

Bitcoin Cash also known as Bitcash or BCC and this is a peer-to-peer electronic cash for the internet.  It requires no bank and no trusted third parties to operate. Bitcoin Cash is a permanent fork of Bitcoin, so if you own Bitcoin, you will have the same amount of Bitcoin and Bitcoin Cash after the fork.

EOS

EOS

EOS enables developers to create blockchain-based applications where users can easily interact which makes it one of the most user-friendly cryptocurrencies on the market. EOS is one of the cryptocurrencies that can boast of its high speed and capability to reach far and wide. EOS, launched in 2017, is so popular that is has now become one of the top the currencies globally.

Litecoin

Litecoin

Litecoin was created in October 2011 as an improvement on Bitcoin.  The main difference between Litecoin and Bitcoin is that whereas Bitcoin has a coin limit of 21 million, Litecoin has a coin limit of 84 million. The mean block time for bitcoin is 10 minutes while the mean block time for Litecoin is 2.5 minutes. The algorithm is very different because while Bitcoin uses the SHA-256 hashing algorithm, Bitcoin uses the script algorithm. This makes the Bitcoin’s total hashing rate at 20,000 terra hashes per second while Litecoin is 95,642 terra hashes per second.

Cardano

Cardano

Cardano, which is designed to protect user privacy and to keep abreast with the evolving needs, runs the blockchain for the Ada cryptocurrency.  Its blockchain model allows transactions to be carried out daily by governments, individuals and organisations globally as it provides the community with the ability to take their own decisions, giving people the freedom to move their funds easily and safely and at any given time. Ada should be stored in the Daedalus wallet that was created specifically for this blockchain to protect one’s assets, providing advanced cryptography.

Stellar Lumens

Stellar Lumens

Stellar Lumens (XLM) is a crypto platform that is designed to enable the fast and secure transfer of money at low cost that was founded by the same developers of Ripple. It is essentially a matchmaker for currencies and facilitates worldwide transfers and exchanges in any fiat currency and cryptocurrency.  It is intended for individuals as well as for the enterprise users such as banks.

IOTA

IOTA

IOTA is a third generation crypto that was created with the aim to address and eliminate mining expenses and scalability that other cryptocurrencies face. Whereas Bitcoin is based on the blockchain, IOTA uses Tangle, which is a directed acyclic graph (DAG) that holds transactions. This cryptocurrency was also created to make the future for Internet of Things better by envisaging that in the future all connected devices will automatically transfer, buy and sell datasets, while ensuring high security.

TRON

TRON

TRON is considered to be one of the largest operating systems that is based on blockchain. Since it offers a decentralized platform, it offers scalability and empowers its users by allowing them to publish content freely without having to rely on centralized services. Since TRON is constantly increasing in its value consistently, it is expected to better its versatility and increase its usability and token prize.

Top five cryptocurrency exchanges

If you want to begin delving into the world of cryptocurrencies, then you really have to get involved with a cryptocurrency exchange. Although there are several out there, we have whittled down the list to a top 5 with some that have opened up recently.

Binance

Binance

The Chinese exchange is probably the best by a long chalk since it offers an immense variety of trading pairs. In fact it offers practically all the cryptocurrencies available on the market to trade against Bitcoin. Its founder Cheng Zhao is very vocal on social media and this obviously brings about considerable attention to the exchange. They have had some regulatory issues in China and Japan lately but this has proved positive for Malta since Binance have announced that they are about to set up shop on the sunny Mediterranean island. With over $1.7 billion in turnover a day, this could prove to be a gigantic economic step forward.

Bitmex

Bitmex

Bitmex is a hugely popular cryptocurrency exchange that has been at the number 2 spot for some time. It is deemed to be one of the whales of all cryptocurrency exchanges and offers the possibility of margin trading as well as leveraged trading. One slight drawback is that Bitmex is rather limited in currency trading pairs only offering USD/BTC and a few other currencies such as Ethereum, Bitcoin Cash, Litecoin, Ripple and Cardano. However it also offers futures trading which is a very useful way.

KuCoin

KuCoin

This is one of the strongest exchanges and like Bitmex, is based in South Korea. One of its top advantages is that it offers a very strong mobile app, available for both Android and IOS. With quite a wide variety of trading pairs and generally low fees, KuCoin is certainly one of the best exchanges around if you want to try your luck.

OKEX

OKEx

OKex is one of the best exchanges around if you want to access hundreds of trading pairs as well as a variety of other investment products. It was founded in 2014 and gained considerable investment from a large number of top firms such as VenturesLab, Ceuyan Ventures and Giant Network Group. It has an innovative platform technology which continues to put it amongst the best and constantly develops new technology to keep abreast with the fast pace in the trading world. It has a turnover of well over $1.5 billion and is considered to be one of the top exchanges for Bitcoin futures trading.

Coinbase

Coinbase

Coinbase was founded in 2012 and is headquartered in San Francisco. It is the largest US based cryptocurrency exchange and continues to lead the way in that country with over $150 billion in annual trading volume as well as having over 20 million customers. It provides a number of trading pairs but these are generally limited to Bitcoin, Ethereum and Litecoin.

This information is dated 07.05.2018.