All you need to know about the 2 most popular digital currencies (Infographic)

The formation of cryptocurrencies was kicked off with the creation of the Bitcoin. This new technology was originally created in order to provide a safe and secure way to transfer money online without the need for a third party. It therefore speeds up the process and reduces the costs of safely transferring money.

As the first form of cryptocurrency to be created, it’s not surprising that Bitcoins have remained one of the most popular forms of digital currencies used. Due to its relatively higher value compared to other currencies, Bitcoins are also known as ‘electric gold’. However, like other currencies, its value can fluctuate day by day, and the Bitcoin has certainly had its fair share of ups and downs. In fact, it recently had its value slashed almost by half, to the dismay of many.

Ethereum, though developed after Bitcoin, is proving to be strong competition, with the popularity of the currency growing at an alarming speed. There has recently been a huge rise in the value of Ethereum, leading some to believe that soon it will overtake Bitcoin, and maybe even lead to its downfall in future.

Infographic credit: Bargainroo