Are you planning to start investing in cryptocurrencies, given the current hype? There are over a thousand cryptocurrencies on the market right now, leaving you with a lot of options. Check out our top 10 Cryptocurrencies you need to know about today.
So, how can you make a wise choice? This article will help tremendously.
To begin, you’ll need a way to purchase cryptocurrencies. This can be achieved using cryptocurrency exchanges or other methods such as Coinbase or Robinhood.
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For more comprehensive cryptocurrency management resources, see our guide to picking the right cryptocurrency exchange.
To access crypto coins, you’ll also need a cryptocurrency wallet that can store your blockchain connection. Finally, there are a few things you should know about the volatile cryptocurrency market before making a crypto investment.
Now that you have all of the necessary details to make an informed cryptocurrency investment, here are the top ten cryptocurrencies to consider.
Bitcoin, the king of all cryptocurrencies, was the first of its kind to have the most liquid value. This cryptocurrency aspires to be a fully decentralized, global, peer-to-peer digital currency with no restrictions. Through the market’s volatility, Bitcoin remains the most secure.
Bitcoin’s popularity, demand, and acceptance are expected to skyrocket in the coming years, despite the fact that the name is synonymous with cryptocurrencies. Companies are now embracing the concept of accepting Bitcoins as payment, paving the way for the future.
Because of its market capital and liquidity value, Litecoin is ranked second on our list. Unlike Bitcoin, which has a finite supply of 21 million coins, Litecoin has an 84 million coin cap and a block reward of 12.5 LTC, which is higher than other cryptos
Miners will find that mining Litecoin is easier than mining any other cryptocurrency since the average time to mine a Litecoin is only two minutes. Because of its rising success, Litecoin is the strongest of all the altcoins.
Ethereum was the first cryptocurrency to launch smart contracts, which enable developers to build decentralized applications using blockchain technology on desktop and mobile devices.
Since then, Ethereum has remained among the top cryptocurrencies of all time, and it has a devoted following of investors who back it up. After Bitcoins, this means Ethereum has a greater chance of staying stable.
This is a low-cost cryptocurrency that is quickly becoming a cult favorite. With its Ouroboros network, which consists of two blockchains instead of one, it has been a strong player in the industry since its inception in 2015.
One blockchain will handle regular transactions, and the other will handle smart contracts. Cardano’s ability to stay flexible and fast is based on the fact that two forms of transactions would not slow it down. Another fascinating thing about Cardano is that the majority of the cryptocurrency’s investors are from Japan.
As a result, Cardano is dubbed the “Japanese Ethereum” because it employs the Proof of Stake algorithm, which Ethereum has been considering for some time. Cardano’s market cap nearly reached $30.7 billion in February 2021.
5. Binance Coin
Look no further than Binance Coin if you own Bitcoins or Ethereums and want to diversify your portfolio. Binance, the parent company, has a long track record of success and has established a valuable “utility token.”
Binance Coin’s value stems from its utility and demand, with traders using Binance Coins to purchase other cryptocurrencies on the Binance Exchange.
Binance Exchange is one of the world’s fastest-growing cryptocurrency exchanges, and it’s only getting stronger with each transaction made on the platform using Binance Coins.
Since its vision differs from the majority of the cryptocurrencies on this list, Ripple is included in this list. Ripple is a venture-backed company that provides finance settlement services to banks in order to facilitate transactions across national boundaries directly and instantly.
It has worked with major banks around the world, including Bank of America, over the years. As a result, it’s more suited to institutional rather than personal investment.
Dogecoin’s continued existence despite not being taken seriously is a message in and of itself. First, in early 2021, Redditors pushed the price to new highs in order to discourage several Wall Street hedge funds from speculated short-selling Dogecoins.
Elon Musk then dubbed himself the “Dogefather,” further supporting the cryptocurrency. Despite the fact that many people question the coin’s validity, Dogecoin still has a market value. Dogecoin reached an all-time high of $0.2917 in April 2021.
Elon Musk’s SpaceX has revealed that it now accepts Dogecoins as a form of payment, following a steady rise.
Did you know that Tron was created in 2017 on Ethereum? TRON is now an independent cryptocurrency with its own blockchain network that processes transactions using the Proof of Stake algorithm.
Tron’s market capitalization is currently $4,406,488,234 and is projected to rise. This crypto coin hosts more decentralized apps than Ethereum, which is why it is becoming more popular.
9. Bitcoin Cash
Bitcoin Cash, a peer-to-peer electronic cash system that is supremely scalable, was born out of speculations about Bitcoin’s scalability. It has a market capitalization of $8,993,553,011, making it one of the most valuable of the group.
Bitcoin Cash, which bears the name Bitcoin, is one of the most closely watched cryptocurrencies among institutional investors.
What Bitcoin can’t do, Zcash can. The blockchain used by Bitcoin is transparent, making transaction tracking simpler, but Zcash only enables transaction tracking if the user requests it.
This means that users can choose to mask their transactions for an extra layer of security. Zcash is currently priced at $2,701,320,183 on the market, with analysts predicting a price drop to open an investment window. Keep an eye out for this if you want to diversify your portfolio.
We hope you enjoyed our top 10 cryptocurrencies you need to know about article. We hope this helps you make an informed decision when investing in Cryptocurrency.