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Cryptocurrencies

A cryptocurrency is a digital currency that uses cryptography as a means of security. A cryptocurrency is difficult to counterfeit because of its strong security feature. Many cryptocurrencies are decentralized systems based on blockchain technology, a distributed ledger enforced by a disparate network of computers. An important feature of any cryptocurrency, and arguably its biggest allure is its organic nature; it is not issued by any central authority and is theoretically immune to government interference or manipulation.

How It Works with Baxia Markets

At Baxia Markets, cryptocurrencies are quoted against fiat currencies (as USD) and other cryptos. This means that when you buy BTCUSD, you’re essentially buying BTC and you’re selling USD. When you’re buying and selling cryptocurrencies with Baxia Markets, instead of opening a digital wallet and taking ownership, you open a trade and depending on the price movements your trade will increase or decrease in value.

Here Are Today’s Most Popular Cryptocurrencies

Bitcoin

Baxia is pleased to offer Bitcoin, the fastest growing cryptocurrency of the decade. Bitcoin promises lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority. There are no physical bitcoins, only balances kept on a public ledger in the cloud. All Bitcoin transactions are verified by a massive amount of computing power, not backed by any banks or governments.

Ethereum

Baxia also offers Ethereum trading, the second largest market capitalization of all cryptocurrencies. Ethereum is more than just a currency – it’s like one giant computer housing many computers around the globe. The main goal is to have a single blockchain where everyone could build their applications on. Ethereum's ability to store revolutionary computer programs has attracted attention from banks worldwide.

Litecoin

Litecoin is the result of a Bitcoin fork and it’s comparable to its predecessor in many of its characteristics, however, there are two main differences between them: speed and amount. For Bitcoin to create one block it takes 10 minutes. Litecoin needs roughly 2.5 minutes to create a block – meaning 4 times the speed. Moreover, Litecoin attracts many users, as it can produce 4 times the quantity of Bitcoin.

Dash

Dash, also known as digital cash, is an open source, peer to peer, money exchange network, Dash’s goal is to improve transaction speed and fees to process money transfers and international payments. But its main goal is to be an alternative to traditional payment methods such as cash and credit cards. Since it has a Bitcoin code base, Dash is compatible with all existing merchants and wallet softwares related to Bitcoin.

Ripple

Ripple is a cryptocurrency built for institutional use, offering payment providers and banks on-demand liquidity for international payments and money transfer, through a quick and cheaper method. The coin has the ability to exchange any asset, which includes gold or fiat currencies by charging a small fee of $0.00001. Payments with XRP are settled in about 5 seconds and consistently handle 1,500 transactions per second.

Bitcoin Cash

Bitcoin Cash was created due to a hard fork of the original Bitcoin. So far Bitcoin Cash has struggled with most of the community and it's important to note that it is not compatible with the original version of the crypto. The main ‘update’ was to increase the Bitcoin block size and amount of transactions per second, to improve the scalability of the coin so it could be used in the place of traditional payment methods such as Visa and MasterCard.