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What you need to know about cryptocurrencies

Four years ago Bitcoin began trending for the first time. That was 2013, the year of the $110M heist, seismic fluctuations in value and China beginning to weigh in with comment. (In fact, it was such a hot topic through the year that my friend and I ended up doing a roundup and parody song on Coindesk, which 99Bitcoins republished as part of its top Bitcoin songs of the year list. Who would even guess such a list could exist?)   

Now Bitcoin has really hit the mainstream. It is relatively easy to trade, has ramped up in price again, and again ($5,000 over the wekend), and the Chinese are starting to truly clamp down by way of protest. Publicity is coming in thick and fast too. British comedian, David Baddiel, recently did an overview for  BBC Radio 4. And there are serious articles aplenty with fast and previously niche publications, like Coindesk, becoming established authorities on the big picture.

The big change though, is that Bitcoin has forged a path for a whole slew of other newer cryptocurrencies. The top tier of these probably hold the same position Bitcoin did four years ago, while some of the others are still light years behind.

 

Bitcoin: This is the poster child of cryptocurrencies… but by no means the only one

Visual Capitalist recently published an absolutely outstanding infographic overview comparing the six main players in the cryptocurrency space. The text within the accompanying article also includes a neat, easy to digest summary of Bitcoin, Litecoin, Ripple, Ethereum, Ethereum Classic and Dash.

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