In this modern world, it is no big deal to come across various types of people from different parts. Similarly, if you peek into the crypto realm, you would come across a lot of cryuptocurrencies you should invest in in the market . Starting from the most popular ones, Crypto Market Fall to the most underestimated one like DOGE.
Hence, if you want to become a part of the crypto world, then you must have everything on your fingertips by now. If for some reason you lack the knowledge then you can take quick updates on all from the following content.
The Different Cryptocurrencies You Should Know About
1. Bitcoin
Bitcoin. The undisputed king of crypto, Bitcoin holds the title of being the first crypto to surface on the Internet. It has been a decade and more since bitcoin first came to the crypto trade market on 2009.
Bitcoin is a peer-to-peer digital currency that allows people to make online payments directly from one party to another without using a third party like PayPal or a credit card company.
Today, this cryptocurrency has a value of 17,129.90 USD, considered the world’s most widely used and accepted cryptocurrency. It also has a limited supply of 21 million BTC, meaning no more can ever be created.
2. Ethereum
Ethereum is a blockchain-based cryptocurrency invented by Vitalik Buterin, who launched it in 2015. It’s a decentralized platform that allows people to create smart contracts and applications on top of its blockchain. To buy Ethereum, you’ll need a good exchange.
What makes Ethereum unique is that it allows cryptocurrency to be used for everything from work contracts to video games with its smart contracts.
Smart contracts can be explained as self-executing contracts that are automatically enforced by a blockchain. They’re designed to make sure that both parties of the contract fulfill their obligations, which can be anything from money transfers to sharing data between two parties.
3. XRP
XRP was created to facilitate cross-border payments for financial institutions and banks but has since grown in popularity among individual investors. XRP is often compared to bitcoin because both currencies are deflationary, meaning their supply decreases over time as people lose or destroy them.
XRP gained most of its fame from a recent brush with the SEC in a court case spanning months. The SEC decided that XRP is not a security and therefore did not fall under their jurisdiction. This was a big win for Ripple Labs, as they were exonerated from wrongdoing.
It also cleared the way for XRP to become more popular among individual investors, who had previously been wary of investing in unregistered securities.
4. Tether
Tether is a stablecoin that’s been around since 2014. Traders often use Tether to hedge their bets when trading other currencies because real-world USD assets back it.
The idea behind Tether is that you can convert your cash into tokens on the blockchain, which are then stored in an account held by a trusted company. This lets users quickly exchange dollars for cryptocurrency without waiting for bank transfers or wire transfers to clear first.
5. BNB
Binance, as a cryptocurrency exchange, allows users to trade in over 200 different cryptocurrencies, so having its currency makes sense for many reasons. The company uses BNB as an incentive for traders to make trades on their platform instead of other exchanges, which means that some people are willing to pay more for BNB than other currencies.
Right now, BNB has a market value of 289.51 USD.
6. Dogecoin
Also called a “shitcoin” at times, Dogecoin is a popular cryptocurrency used for tipping and making payments on the Internet. Dogecoin was launched in 2013 and was meant as a joke by Billy Markus and Jackson Palmer, a programmer who wanted to create a fun cryptocurrency that didn’t take itself too seriously.
Believe it or not, this pointless cryptocurrency saw a massive rise in value recently, to the point where people actually traded and invested in it! At the moment, Dogecoin holds a value of 0.097 USD.
The Takeaway
Many people think cryptocurrency is a scam or a joke, but it’s actually a real thing. If you know which cryuptocurrencies you should invest in today, you might see the zenith of success some day in mere future. Maybe they’ll be worth $1 million one day!
Also read: How to Earn Bitcoin for Free
