Cryptocurrencies have not only changed the world’s expectations about money. They have also continued to thrive in their field since the issuance of the first Bitcoin block in 2009. Since then, thousands of unique
Cryptocurrencies
have emerged. Of these, Bitcoin remains the most popular.
So what other popular cryptocurrencies are there on the cryptocurrency exchange?
1. Bitcoin (BTC)
It’s been nearly a decade since Bitcoin expanded its currency into the digital realm of the internet. Since then, it has remained the most popular cryptocurrency in the world. With Bitcoin, users can easily transfer money from one digital wallet to another. Each transaction is then verified by other users and recorded on the public ledger known as the blockchain.
Some of the key factors contributing to Bitcoin’s popularity include:
- Despite its fluctuation, its price is high. As of this writing, a single Bitcoin is worth $10,733.80 . This is significantly higher than other cryptocurrencies in existence.
- Big companies are starting to accept Bitcoins. For example, Microsoft is an example of one of these companies.
- Buying and selling with your Bitcoin is very easy. Bitcoin is supported by major exchanges and digital wallet platforms such as Icrypex.
- Investors have been supporting Bitcoin’s growth for years. Bitcoin has been around longer than any other cryptocurrency. This has allowed investors to strongly follow Bitcoin.
- Bitcoin also has the highest market capitalization among cryptocurrencies, which are usually considered by investors. Market caps are calculated by multiplying the current supply of the currency by the current price. This is known as the circulating money supply and can indicate whether investing in a currency is risky or not. High market caps usually indicate less risk as there are more users. Therefore, it is believed that Bitcoin is a better choice than other cryptocurrencies on the market.
For more details: Bitcoin
2. Ethereum (ETH)
The Ethereum platform, which is the second most traded cryptocurrency in the global financial markets after Bitcoin, incorporates many new technologies. Many coins have been created on the Ethereum network. With the Ethereum 2.0 update, it has been the coin that has attracted the most attention. Although there is no clear date for when the update will be made, it seems certain that this update will give a new look to the cryptocurrency.
The biggest feature of Ethereum that differs from Bitcoin is its smart contracts. These contracts are digital contracts that pay users only after certain conditions have been met.
The benefits of smart contracts that Ethereum provides usually include:
- Eliminate third parties in transactions. For example, let’s say you have a smart contract for your home. In a traditional transaction, you will need a real estate agent who will help you with the paperwork and mediate the transactions with the buyer. Instead, smart contracts transfer the home directly to the buyer without anyone else’s intervention. You also don’t have to pay third parties like a real estate agent.
- Fast transactions. No need to wait for the paperwork to be processed. Smart contracts are faster and easier. Everything is done online. In fact, you avoid a large amount of paperwork altogether.
- It allows developers to create smart contracts and Decentralized Applications. Thanks to these applications, the privacy of transactions is increased and users are protected from fraud.
For more details: Ethereum
3.Ripple (XRP)
Most cryptocurrencies pride themselves on providing fast transactions. For Ripple and its digital tokens, known as XRP, fast transactions are a fundamental part of their identity. In fact, Ripple processes transactions in as little as four seconds. You can compare this to Ethereum, which takes two minutes, and Bitcoin, which takes about an hour. Traditional currencies can last for a few days.
Ripple works by creating a platform for banks and other payment providers to send money anywhere in the world. XRP can be exchanged in any currency. For example, it can be used for exchanges in dollars or euros. Being able to send money anywhere in the world in seconds allows banks and financial institutions to reach new markets. The farther their reach goes, the more customers they can serve.
Other important features of Ripple’s XRP tokens that have contributed to Ripple’s popularity include:
- It is a cost-effective option for sending money. You can send money across borders in seconds without paying high outsourced transaction fees.
- It has significant investors in its peers. For example, Google Ventures is one of the major firms investing in Ripple.
- Have high scalability. High scalability means transaction speed, which is necessary for cryptocurrencies to compete globally. Ripple can handle 1,500 transactions per second. It has a higher transaction speed than any other cryptocurrency available.
For more details: Ripple
4. Litecoin (LTC)
This cryptocurrency, which was launched in 2011 after being developed by Charlie Lee, a former engineer at Google, is similar to Bitcoin’s features in general terms. What sets it apart from Bitcoin is the faster block creation times, which makes transactions more efficient. Litecoin, which has a market capitalization of about $ 4 billion, uses a different algorithm, the “scrypt” algorithm. In summary, it is preferred by many investors as fast transaction times and wide storage possibilities.
Highlights of Litecon include;
- Processing speed. Litecoin processes transactions faster than Bitcoin. In fact, Litecoin processes transactions in about 2.5 minutes. Bitcoin can take up to 10 minutes to process.
- Bigger money supply. Litecoin has a total of 84 million Litecoins, compared to 21 million Bitcoins.
- Less complex algorithms. Compared to Bitcoin, Litecoin has algorithms that are easier to crack. This could make mining transactions easier to solve, and miners won’t need as much equipment to solve them as they do with Bitcoin.
For more details: Litecoin
5.Basic Attention Token
The Basic Attention Token was created on the Ethereum blockchain. Open source is a digital advertising token created by the Brave team to connect advertisers, publishers and users without being decentralized. It rewards users, publishers and advertisers. Users are paid for their interest in advertising. It has a market capitalization of $584 million.
As a result, there are now multiple popular cryptocurrencies today. We have introduced the more or less popular crypto coins to you in detail. First of all, our guide, which will be a guide for beginners , will give basic information about crypto coins. After our article, you will be able to easily choose the crypto coins you can buy. By looking at this list, you can easily determine which features are suitable for you in crypto money transactions. For example, would smart contracts be useful to you? If so, you may want to use Ethereum. For super fast trading , you can choose Ripple.
For more details: Basic Attention Token
