The state of California is known for a good many things, such as its sunny days, stunning beaches and palm trees that never seem to have an end. It is also known for something else, namely its strong interest in certain crytopcurrencies. As most known, cryptocurrecnies are digital currencies that people can use for a variety of things. They can play with them on casinos.com, do some low-risk trading or even purchase their holidays through them.
Crytocurrencies is an umbrella term which is often used as the only digital currency out there but crypto itself is actually not a digital currency you can purchase, it is the smaller crypto’s within that umbrella that you are looking for, such as Bitcoin or Dogecoin. This article aims to shed light on the top cryptocurrencies used in the state of California.
Bitcoin
One of the most used, if not the most used cryptocurrency is Bitcoin. This is known as the original cryptocurrency, which is probably why it is also the most popular. The interesting thing about Bitcoin is that it was invented under the pseudonym of the name Satoshi Nakamoto, however, no one really knows who this person is. For something as big and famous as Bitcoin, you would think that the developer and creator would shout proudly claiming the genuis title, however, this is not the case.
In general, Bitcoin is part of a rather volatile market, given that it is a cryptocurrency and knowing the nature of crypto’s, this makes sense. Yet, so many enjoy using it in the state of California as it is enticing, exciting and easy to use.
Ethereum
Etheruem was invented by Vitalik Buterin, who was a programmer and came up with the idea of Ethereum in the late 2000s but ultimately launched it as a means currency in 2013. Just like Bitcoin, Ethereum is a means by which people of California are able to pay for thing purchases, make investments or make withdrawals via this digital currency. It is seen as the second most popular digital currency in the state of California, after Bitcoin. The thing that sets Ethereum apart is its use of smart contracts, which gives users a lot more flexibility when it comes to handling their digital currency. There are a lot of details surrounding smart contracts, which is beyond the scope of this article but nonetheless interesting to know.
Again, Etheurem is also part of a volatile market, due to its pure nature of being a cryptocurrency.
Tether
The third most used cryptocurrency in the state of California is Tether. This digital currency was invented in 204 by Brock Pierce and Craig Sellers. They had an idea to create a cryptocurrency that would revolutionize the world of cryto’s through its fiat currency association. You see, the special thing about Tether is that it is the only cryptocurrency that is backed by a fiat currency. This means that it is far less volatile that the other currencies, as it does not experience as dramatic fluctuations. Therefore, many investors see it as a great option, especially for beginners to the world of crypto, as they are able to engage with a digital currency but without the fear and worry that comes with other cryptos that are more extreme.
Dogecoin
If any cryptocurrency suited the state of California, it would be the Dogecoin, which was a cryptocurrency that actually started out as a meme but then gained so much popularity that it is one of the most prominent cryptocurrencies in the whole of Californica. The special thing about this currency is the fact that there is not limit to the amount of coins that can be created, making it a lucrative investment opportunity, which is probably why it is not beloved.
Things to Remember When it Comes to Cryptocurrencies
As interesting and popular as cryptocurrencies have become, especially in the state of California, there are a few important bits that must be understood. First things first, the reason why cryptocurrencies have experienced such as surge in popularity is due to the online safety measures that back this currency. Things like cryptography and blockchain technology have truly revolutioned the way that people see and trust online payment systems.
Furthmore, the ease of use is another factor that has made it so popular. The people of California enjoy walking around and being on the move, therefore, currencies that are as flexible and agile as them are the ones that will make the most impact. Hence, the fluid system of crytocurrencies making its moves and gaining in popularity around the state area.
When it comes to crypto’s, there is one big thing that you must remember and that is the fact that it is not tied to a fiat currency, except for Tether, and therefore anything can happen when it comes to this currency. If you are looking to just partake in small amounts, then you do not need to worry too much, however, if you are seriously thinking about trading or making deposits in this currency with larger amounts, then you must do your due diligence beforehand and make sure that you do as much research as possible. This is vital for your success in the world of digital currencies, as an informed person makes clever decisions, so stay informed!