As of the creation of this website, over 1,300 digital currencies have been created.  Many have been created as jokes, or for specialized small communities to exchange as tokens (such as communities that all play a particular video game).  There have been several very noteworthy currencies that have gone far beyond their small initial support communities to become serious investment vehicles.  Among these currencies are:

  • Bitcoin, the original cryptocurrency.

  • Litecoin, a fork of Bitcoin with quicker transaction times

  • Ethereum, a digital contracts platform

  • Dash, a currency with almost instant transaction times

  • Monero, a currency with an encrypted blockchain which makes all transactions private

  • Bitcoin Cash, a currency based on Bitcoin with larger blocks to accommodate larger transaction volume

  • Dogecoin, the original joke with some of the best crowdfunding efforts imaginable

  • Ripple, a ledger system primarilysupported by banks andother financial institutions and used for interbank transactions.

For a brief introduction to each coin, please continue here.
 

As a result of the proliferation of cryptocurrency worldwide, a number of digital currency trading platforms, or exchanges, have been created to convert digital currencies one into another as well as to convert digital currencies into fiat currencies.

The selection of an exchange should be considered carefully.  Make certain that you join an exchange that is established in your own country.  Failure to do so may result in your own government filing charges against you for offshoring money and/or attempting to circumvent your country's tax laws.

If you are a US resident, equally important is to find an exchange which is registered with your state government and is allowed to do business in your state.  Some states such as New York have done pretty much everything they can to make doing any kind of cryptocurrency business in their state unpalatable (all in the name of protecting the consumer, ironically).  Failure to ensure that the exchange you select is registered to conduct business in your state may lead to similar tax avoidance criminal charges filed by your state government.

Understanding the trading pairs that your exchange allows is also very significant.  If you want to trade lesser known coins, then ensuring the exchange you select supports them is equally critical.

For a brief introduction to some of the more popular exchanges, please continue here.

Exchanges
Digital Currencies

Doing your own research and achieving a basic understanding of the technology underlying digital currencies is absolutely critical to being able to invest wisely and achieve your own financial goals.  To this end, we provide a short comparison of the most popular digital currencies and trading platforms.

COMPARISONS

DISCLAIMER

 

This site is for informational purposes only.  Please conduct your own research and invest wisely.  A website link on this website in no way represents an endorsement of any kind, or any validation that the services or products available on that website are suitable for your purposes.

Most individuals will find throughout the course of their research that different communities associated with different coins are very passionate about their coin and its underlying technology.  We strive always to remain as impartial as possible.

The information provided on this website does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of the website's content as such. Coins Demystified does not recommend that any digital currency should be bought, sold or held by you and nothing on this website should be taken as an offer to buy, sell or hold a digital currency. Please consult your financial advisor before making any investment decisions.

Coins Demystified will strive to ensure accuracy of information listed on this website although it will not hold any responsibility for any missing or incorrect information. You understand that you are using any and all information available here AT YOUR OWN RISK.

The price of digital currencies are very highly volatile. It is common for prices to increase or decrease substantially in a single day. Although this could mean potential huge profits, this also could mean potential huge losses. DO NOT INVEST ALL YOUR MONEY IN DIGITAL CURRENCIES. Only invest money which you are willing to lose. Digital currency trading may not be suitable for all users of this website. Anyone looking to invest in digital currencies should consult a fully qualified independent professional financial adviser.