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As one of the leading cryptocurrency websites in Japan, BTCPost brings you convenience and ease in one site. Widen your knowledge and become more invested in the cryptocurrency industry with us. Feel free to browse through more than hundreds of articles available on our website and learn about the history of cryptocurrency, how it works and where you should start, especially if you’re still a beginner in the field.
All about cryptocurrency
In 2009, an inventor under the pen name of Satoshi Nakamoto released the first-ever cryptocurrency in the world, Bitcoin. Until now, his identity is still left unknown. As technology advances, many business operators leverage using the internet-based medium to exchange financial transactions across the globe.
Cryptocurrency involves trading digital coins secured by cryptography. It uses blockchain technology that ensures all transactions are transparent and run in a decentralised system that can be accessed by anyone around the world. It uses private and public unique keys that are only available for both parties. Instead of paying large fees to send money to enterprises or relatives abroad, with cryptocurrency, you can now instantly exchange money with minimal fees.
Other than exchanges, you can also invest in cryptocurrency. It is considered as a new form of digital asset that can grow over time depending on the status of the market. Currently, the overall market capitalisation of the medium spiked up more than $332 billion. With this, there’s a huge possibility for cryptocurrency’s bright future in the upcoming years.
Cryptocurrency in Japan
Japan is one of the leading countries that supports cryptocurrency. It is the home of several investors and users all over the world, being the 2nd or 3rd largest economy in terms of Bitcoin technology. Additionally, Japan has accumulated 11% of the global trading volume using the platform and has dominated Asia over the past few years.
In fact, Japan’s cryptocurrency was registered as a financial services institution, with the government allowing citizens to use digital coins as a medium for payment all over the country. Upon the recent census, more than 3.5 million individuals have used the medium for their personal transactions while business operators are also keeping up with the trend.
Japan regulated the utilisation of cryptocurrency with the vision in mind that it will flourish in the future. Now, they are known as one of the countries who first enacted a legal system and encourages its constituents to use the medium in all of their transactions.
Different types of cryptocurrency
Whether you’re looking for ways on how Bitcoin works or how Ethereum can make your money grow, BTCPost is here to help you with all the necessary details you must keep in mind!
Cryptocurrency may be a daunting topic to discuss for many, but with the help of our website, you can now stay informed about the latest trends and new developments about the medium with ease. Get into it and start trading now! Here are the following cryptocurrency types you can browse through on our website:
Bitcoin is the most popular cryptocurrency around the world, marking its reputation as the largest cryptocurrency in terms of market capitalization. Similar to many other cryptocurrencies, Bitcoin is also not handled by any authority and operates through peer-to-peer networks accepting worldwide payments with low processing fees.
Ethereum was established in 2015 by Ethereum Foundation, following the idea of researcher and programmer Vitalik Buterin and Gavin Wood. Topping the charts as the 2nd largest cryptocurrency around the world, Ethereum is one of the top-notch competitors of Bitcoin in the field. Aside from easy and convenient access, it also uses a programmable blockchain where individuals can use the platform for other types of digital assets like Bitcoin.
Released in 2018, EOS aims to build convenience and satisfaction to its customers by providing hassle-free transactions with minimal fees. Transfer your money in just a split second by using peer-to-peer networks secured by cryptography. It also has its own digital coins called ‘EOS Tokens’ that you can buy from fraud-free sites like Simplex or Coinbase. Additionally, EOS envisions to cater millions of transactions per second unlike other cryptocurrency brands that limit up to 15 transactions only.
Operated by the blockchain Cardano, ADA cryptocurrency allows users to operate smart contracts depending on the number of coins they own with quick, fast and reliable secured transactions. Additionally, ADA coins is expected to reach 45 billion in the years to come as it currently holds a circulating supply of 31 billion coins. The process of ADA involves selecting nodes that are good candidates for slot leaders, generating its own block in the current blockchain.
Tether also uses a blockchain technology secured by cryptograph. However, users can back their cryptocoins using fiat currencies and other traditional assets to retain their purchasing power. It operates as a stablecoin that provides convenience and more options for individuals to withdraw and exchange their money with ease. Stablecoins aim to stabilize the market and prevent the rise and fall status of cryptocurrencies like Bitcoin and Ethereum.
Following Bitcoin and Ethereum, Litecoin is considered as the third largest cryptocurrency all over the world as per market capitalization. Instead of using dollars for transactions, Litecoin uses its own coins in the nature of relating it to traditional currency exchanges.
Other than the mentioned brands, there are also a variety of cryptocurrency you can find in the market such as Libra, Ripple, Cosmos and more. Get the latest cryptocurrency news only here at BTCPost!