Cryptocurrencies are not a stable form of finance though it is making a lot of noise all of a sudden. In today’s time, you will hear most people gushing about bitcoinsecret.app but the word of caution must be sounded here. It is good to go along with the current trend and flow and keep yourself abreast of the time and situation but be very careful while doing.
Before you choose to to invest in cryptocurrencies, check out the top picked ones.. Read on to know more in detail!
The 7 Cryptocurrencies You Should Keep an Eye On
Are you keeping up with the latest in cryptocurrency? If not, you’re missing out! Here are 7 cryptocurrencies you must know about. Read on to know more in detail!
- Bitcoin
Of course, undoubtedly, Bitcoin is the all-time leader and a favorite among the masses when it comes to cryptocurrency investments. The most popular of cryptocurrencies, Bitcoin was founded in 2009 by Satoshi Nakamoto and this set the trend for cryptocurrencies to swing into motion. It is denoted as the first and naturally the original cryptocurrency that is here.
Bitcoin functions on blockchain technology. It is a distributed ledger where everyone has an equal right over it. All the nodes in the blockchain can see all the transactions that are carried out here and so it is very transparent. A user has to give proof of work to make the crypto puzzle authentic and be a valid user in the blockchain.
Bitcoin price history has always been a turbulent one, with its price playing and swinging any which way now and then. So there is no way you can predict anything about its price. But one thing is certain is that it is a huge hit and has practically become a household name in most countries, especially the USA and UK. Its market value is estimated at well over $846 billion.
- Ethereum
Ethereum a blockchain platform and a cryptocurrency is the second favorite of the masses after Bitcoin only. It is a favorite more so because it can be well used for other applications like smart contracts where the execution of the function begins once all the conditions and terms are met. It is also experiencing tremendous growth by the day and you will almost always hear its name after Bitcoin in terms of popularity. Its market value stands at $361 billion.
It is one of the first and most popular in its category. This gives it the stability that Bitcoin does not enjoy. And because of its stability factor, it has gained in popularity. It is also popular for another reason. It allows all other cryptocurrencies to be converted back into the fiat dollar very smoothly. Its market value stands at $70 billion.
- Binance Coin
Afteer Ethereum comes into the list Binance Coin. This is a crypto exchange. If you are into crypto trade you trade and pay your fees here. Apart from facilitating trade, it can now help with payment for services and goods also. It can be exchanged and traded with other cryptocurrencies also. It has a market value of $68 billion.
- USD Coin
It also belongs to the stablecoins category that associates itself with the US dollar. But it has a system of collateralized reserves where the same amount of fiat money has to be shelled out when trading with them. It has a market value of $55.5 billion and takes the fourth rank in the crypto market.
- XRP
Founded by the creators of Ripple it has a market value worth $37 billion. It can be exchanged with other cryptocurrencies and is also used for trade.
- Cardano
This coin joined the crypto bandwagon years later than the others. But it works with a proof-of-stake validation, which helps transactions to happen very quickly. It also uses very less energy causing less impact on the environment. You can create decentralized applications and smart contracts with this altcoin. It is valued at $33 billion.
Conclusion
So, these were seven most common and popular cryptocurrencies that you can try investing in. But whatever you invest in be sure to research thoroughly on it.