The rise of cryptocurrencies is reflected in the speed at which new virtual currencies sprout, which already add up to a joint capitalization of almost 250,000 million. And not even the falling price of bitcoin, the reference cryptocurrency, discourages investors: almost a third of Spaniards expect to buy cryptocurrencies in the future; not in vain, Spain is one of the countries with the greatest interest in virtual currencies investing in cryptocurrency.


Beyond bitcoin and ethereum, the best known, in the world there are more than 1,500 cryptocurrencies, and only ten exceed 4,000 million euros in turnover. One of the least known to the public is the Neo. Driven by a Chinese company, it proposes a new structure under blockchain technology with which to manage transfers and digital contracts, something similar to what Ethereum already allows, although more complete, according to its creators.


The platform that supports Neo technology allows its users to use identities and digital assets, as well as contracts. The ‘intelligent economy’ they propose allows the management and automated of all those assets, contracts and identities. It was created in 2014 and is very oriented towards electronic commerce.


In addition, the NEO network also uses digital identity. All individuals and institutions that want to operate through this platform must have a confirmed identity. This model of identities fights against fraud and promotes compliance with commercial rules in each region.


Like other cryptocurrencies, users of eToro, the world’s number one social trading network, can choose to invest their money in Neo cryptocurrencies. As if that were not enough, the new members of the community, more than six million, will receive a portfolio of 100,000 virtual dollars with which to test investment strategies.


For all interested investors, eToro offers its members the possibility of investing in the main cryptocurrency. Bitcoin, ethereum, litecoin, ethereum classic, dash, cardan or the ripple are some of the available options. Each one has a characteristic and covers a series of needs:


– The bitcoin was the first and is the largest among the cryptocurrencies. It has been responsible for laying the groundwork for then appear hundreds of similar currencies more.


– Ethereum is the second largest cryptocurrency in the world, according to its capitalization. It was created by the Russian programmer Vitalik Buterin and has the international support of technological giants such as Microsoft and Intel.


– Litecoin was designed by Google’s former engineer Charles Lee and its goal is to improve bitcoin technology by offering faster processing times and a greater number of tokens. It has also been the first of the cryptocurrencies to implement SegWit, a method that accelerates transaction times without compromising the underlying blockchain technology.


– Ethereum Classic is based on the original code of the ethereum blockchain but aims to create a more decentralized currency.


– Dash has been developed by software programmer Evan Duffield. Its main focus is instant transactions and the privacy of its owners thanks to an infrastructure that allows transactions much faster than other cryptocurrency and, therefore, offers more liquidity than many others.


– Ripple is perhaps the most adopted cryptocurrency within the financial sector thanks to the fact that it is driven by some of the giants of the sector. The XRP was created by the American programmer Jed McCaleb and allows financial institutions to exchange different currencies, cryptocurrencies and alternative forms of payment, such as frequent passenger miles.


– Cardano has a third-generation technology, based on ethereum, but with a structure of two differentiated layers, one that carries out transactions, similar to any cryptocurrency, and another that executes blockchain applications, and could be described as the “development layer”.


Thanks to a community of more than six million members, eToro users can choose to design their own investment strategy with cryptocurrencies or look for some of the ‘Popular Investors’, the best traders in the community, to clone their portfolios.

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