We all are living in a world where everything is getting digitized. Technology has come a long way and everything that we have today is under the control of the internet.
The money that we use to make the purchase of our day-to-day items has also become digital in the past decade.
Unless you are living under a rock, you will be able to know what cryptocurrency is. They are digital currencies or assets that can be bought or sold on the internet. There are many forms of cryptocurrencies or cryptos in the world. Some of them are Bitcoin, Peercoin, Ether, Litecoin, and Dogecoin.
In this article, I will be talking about which digital currency is better to invest in between Peercoin vs Bitcoin. If this is something that you are searching for, you have come to the right place. Keep on reading this article till the end to learn more and invest smarter.
Peercoin: Quick Definition
Launched in the year 2012, Peercoin (PPC) is very popular crypto that is based on a similar framework as Bitcoin. It stores value like any other digital currency. The talented software developers Scott Nadal and Sunny King were the ones to invent it.
It gained attention for becoming the first cryptocurrency that used the PoS (Proof of Stake) and PoW (Proof of Work) combination. The platform offers anonymity to the ones who are using it as a method of transaction.
The most important thing that you should keep in mind about Peercoin is that it is an altcoin. This means that it can be any currency that is not Bitcoin.
Bitcoin: Quick Definition
Bitcoin (BTC), on the other hand, is the most popular cryptocurrency in the world. The software developer Satoshi Nakamoto was the one to introduce it to the market in the year 2009.
Cryptocurrencies or crypto are aimed at making digital transactions much more manageable. It is created with the help of a decentralized blockchain. It is one of the earliest cryptocurrencies that gained popularity among the audience.
Like all other cryptos in the world, Bitcoin also operates unregulated from the control of the central or federal government. This means that it relies entirely on peer-to-peer cryptography.
Peercoin Vs Bitcoin: Where Should You Invest?
Even though both Peercoin and Bitcoin are cryptocurrencies and are based on similar platforms, both are different from each other when it comes to the ways of mining them.
Peercoin was also the first digital currency that pointed out the tremendous energy consumption of the mega currency Bitcoin. This might prove the point that the two are continuously pitted against each other.
Every transaction that you make on the platform is subject to public broadcast.
In case you are thinking about choosing between Peercoin vs bitcoin, it is best that you learn the advantages and disadvantages of both the cryptos. Here they are:
Pros Of Bitcoin
- International transactions.
- There is a possibility of a high return on investment.
- The liquidity factor is much more significant.
- There are much fewer chances of getting scammed.
Cons Of Bitcoin
- There is no scope for a refund.
- There may be possibilities of cyber hacking.
- You may incur heavy losses if you do not invest responsibly.
- The market of Bitcoin is highly volatile.
Pros Of Peercoin
- The energy consumption is much less compared to Bitcoin.
- The market of this cryptocurrency is much less volatile than other cryptos.
- The transactions done with Peercoin are international in nature.
Cons Of Peercoin
- The projects are slow to load.
- The security of Peercoin transactions is not as great.
- There is no backing for the financial assets and commodities.
Peercoin Vs Bitcoin: Which Is Better?
One of the main reasons why people often search for bitcoin vs litecoin vs peercoin is because all these are some of the most invested cryptos in the world. Hence, investors or arbitrageurs want to know the value, which is hard to predict.
While it is true that Peercoin is comparatively new in the market and there are high chances that the profits are going to be much more in the future, there is one thing that you should keep in mind.
The security of digital currency like Peercoin is not as strong as Bitcoin. Therefore, when purchasing or investing in the market of cryptocurrency, you must know that there are a lot of risks that are involved in it.
That is the reason why it is crucial to ensure that the platform you are using or the personal data that you have used to make the purchase is protected. Again, this is something that Bitcoin guarantees.
On the other hand, in its initial days, Peercoin was seen as a rival to Bitcoin. Even in the year 2013, PPC was considered to be one of the top five cryptocurrencies in the world from the point of market capitalization.
However, at present, the market of Peercoin has been drastically reduced. Now it does not even hold a position in the first 500 best cryptocurrencies in the world.
Frequently Asked Questions
At present, Peercoin is less than a dollar per PPC. To be exact, the price of Peercoin is around 0.336 Dollars (USD) per PPC.
Like many other cryptos, Peercoin can be bought and sold and is a part of the digital and other transactions that are made online.
However, the blockchain technology of Peercoin stores the transaction history. In addition, the technology is public, which means that anyone who is on the platform can view it.
Wrapping It Up!
There are many cryptocurrencies in the world. Two of them are Peercoin and Bitcoin. Both of them are based on the same framework. However, they are also very different from each other in terms of security and functions.
If you were searching for which cryptocurrency is better in the case of Peercoin vs bitcoin, I hope that you have found the best answer to your search. In case there are any other questions regarding the same, kindly write them down in the comment section.
For other suggestions, kindly let me know by commenting in the box below. Till then, stay safe and happy investing!