For those interested in other crypto currencies like litecoin, feathercoin etc… there are more and more of these new currencies developing and you can see current prices and trade in them at this currency exchange market.
Why would you buy other types of crypto coin other than Bitcoin? Well for the same reason people bought Bitcoin when it started. If you get in early their prices will rise and the price fluctuations between them allow for profit opportunities for the savvy.
Don’t forget one of the easiest ways to get free Bitcoin to trade with is by joining one of the crowd source funded Bitcoin projects
One of the new coins and new movers on the exchange is ZetaCoin, it is BTC based but has lightening fast verification and 160 millions coins rather than just 21 mil for Bitcoin. An ideal coin for small and fast transactions and definitely one to keep your eye on. Currently very cheap to buy in and it can be mined with existing progs like cpuminer and cgminer.
The public seem to have settled on the Bitcoin as the standard but as it goes higher in use and price it will become less attractive. It is limited to 21 million total coins, this is making mining harder and harder. The newer crypto coins have different limits and specs, there are 64 million Litecoins available, some of the other currencies use 160 million. Bitcoin transactions can be slow to verify, but the other ecoins are much faster to verify.
We need to get used to the fact that there will be many crypto currencies competing for trade. Bitcoin is just the first. You can create a wallet for any of these currencies in much the same way you run a wallet on your own machine using Multibit.org or Electrum.org for Bitcoin. These offer much better security for your coin, remember encrypt and backup your key on a USB or write it down on paper. There is a saying in IT “Unless data exists in at least 2 places it doesn’t really exist at all”
Get a Litecoin Wallet here
When you install any of the different crypto wallets on your pc, it will also download the whole transaction ledger for that type of coin, be patient, there is over 110 weeks of transactions for Litecoin to download.
Zetacoin is a newbie but has already increased a thousand fold since its birth a few months ago, it’s still very cheap to buy and can be traded, and using this exchange you can buy and sell into all other crypto currencies like Bitcoin. It maybe a very good investment to use some of your Bitcoin to buy into some of the other coin types. Something to think about. All highly speculative, but the other ecoins I’ve bought using bitcoin have outpaced Bitcoin, returning a very nice profit.
Get a ZetaCoin Wallet Here
Remember if everyone just hangs on to their Bitcoin like Gold it will eventually collapse, its a very good idea to diversify your coin portfolio.
Like this post? Tip me with bitcoin!
If you enjoyed reading this post, please consider tipping me using Bitcoin. Each post gets its own unique Bitcoin address so by tipping you're not only making my continued efforts possible but telling me what you liked.