Digital money is taking over. The world is going crazy over cryptocurrencies, blockchain technology, and decentralized finance (Defi) as the market saw a major gain in the first half of this year. This craze has led to the rise of new and young cryptocurrencies. There are thousands out there. But not all are equally desirable of course, just as not all of the real world’s currencies are on the same footing.
These days, though, cryptocurrency has gone beyond a mere tool for making purchases as it is being treated as a long-term investment. However, volatility makes this risky. There is also the overwhelming decision on the particular currency to invest in when you’re first getting started. To help you get your bearings, these are the top cryptocurrencies, from gamblingmentor.org, based on their market capitalization, or the total value of the coins currently in circulation.
1 – Bitcoin (BTC)
Market cap: Over US$821 billion
Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transaction distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters. Bitcoin’s price has skyrocketed as it’s become a household name. Five years ago, you could buy Bitcoin for about $500. As of Sept. 30, 2021, a single Bitcoin’s price was over $43,000. That’s the growth of about 8,600%.
2 – Ethereum (ETH)
Market cap: Over US$353 billion
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). Ethereum has also experienced tremendous growth. In just five years, its price went from about US$11 to almost US$3,000, increasingly more than 27,000%.
3 – Tether (USDT)
Market cap: Over $68 billion
Unlike some other forms of cryptocurrency, Tether is a stable coin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies and ifavouredored by investors who are wary of the extreme volatility of other coins.
4 – Cardano (ADA)
Market cap: Over $67 billion
Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin. Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was US$0.02. As of Sept. 30, 2021, its price was at US$2.10. This is an increase of over 10,500% and it is accepted on leroi johnny casino enligne.
5 – Binance Coin (BNB)
Market cap: Over US$64 billion
The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Its price in 2017 was just $0.10; by Sept. 30, 2021, it had risen to over US$382, a gain of more than 382,000%.
6 – XRP (XRP)
Market cap: Over US$44 billion
Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. At the beginning of 2017, the price of XRP was US$0.006. As of Sept. 30, 2021, its price reached US$0.94, equal to a rise of over 15,700%.
