Cryptocurrency is still a new form factor in the financial realm, but it took center stage just last year when Bitcoin traded at $8,166 in March 2020, but in March 2021, it is trading at $54,011. The swift ascent is a part of increased institutional attention, including known names such as BNY Mellon, Goldman Sachs, HSBC, and JPMorgan. You’ll be surprised to know that Bitcoin isn’t the only cryptocurrency; there are possibly other cryptocurrencies globally. If crypto website CoinDesk is believed, some 20 main coins make about 99% of the market by capacity.
Top 10 Cryptocurrencies in the World
Cryptocurrencies keep soaring high even in 2021, so you should know about the core coins that might help you get rich. Here are the top 10 cryptocurrencies in the world.
Before we get to cryptocurrencies, get to know more about them by scrolling below.
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What is a cryptocurrency?
A cryptocurrency is a virtual or virtual currency guarded by cryptography, making it almost impossible to counterfeit or falsify. The word ‘cryptocurrency’ is obtained from the encryption methods which are used to guard the network. Numerous cryptocurrencies are decentralized networks based on blockchain technology, categorized ledger enforced by a dissimilar computer system. A striking feature of cryptocurrencies is that they are frequently not declared by any central authority, which renders them theoretically resistant to government manipulation or interference.
Although they are an easy way to get rich, cryptocurrencies face objections for various reasons. It includes exchange rate volatility, a use case for illegal activities, etc. Nonetheless, they have also been applauded for their divisibility, inflation resistance, portability, and transparence.
10. Litecoin (LTC)
Litecoin was launched in 2011 by Charlie Lee, Google and Coinbase engineer. It is a peer-to-peer cryptocurrency that is sometimes regarded as the ‘digital silver’ instead of Bitcoin’s ‘digital gold.’ He wanted to create a lite version of Bitcoin for people who didn’t understand the technology behind cryptocurrency. It has some of the best features of Bitcoin. For instance, Bitcoin takes about 10 minutes to verify, while Litecoin transactions are processed in 3 minutes. It also has much lower system requirements. It was trading at $199.7 with a market cap of $13.4bn in March.
Chainlink is a decentralized network that connects the gap between smart contracts, like Ethereum. Developed by Sergey Nazaro and Steve Ellis, its oracles allow smart contracts to interact with outside data so that the contracts can be executed based on data that Ethereum itself cannot connect to. As of January 2021, Chainlink’s market capitalization is $8.6 billion.
8. Polkadot (DOT)
Polkadot was founded by Gavin Wood, a member of one of the core founders of the Ethereum project. It is a novel cryptocurrency that is intended to achieve interoperability among other blockchains. Its protocol is composed to unite permissioned and permissionless blockchains that allow systems to work together. It also enables parallel blockchains with their own local tokens for distinct use cases. It has a market capitalization of $11.2 billion as of January 2021.
7. Stellar (XLM)
Stellar cryptocurrency was founded by Jed McCaleb – a founder of Ripple – in 2014. Because of Ripple, Stellar Development Foundation was formed. Stellar focuses on producing cross-border payments more able. It is a non-profit organization. Stellar has a market capitalization of $6.1 billion as of January 2021.
6. Cardano (ADA)
Cardano is founded by Charles Hoskinson, also one of Ethereum’s five fundamental founding members. He left when there were some disagreements with Ethereum’s future. Soon after, he supported the development of Cardano. It is a decentralized public blockchain and cryptocurrency project that operates on a non-profit platform. As of March 2021, it has a market capitalization of $40.4 billion.
5. Tether (USDT)
Formerly known as Realcoin, Tether was originated in 2014. It is secured to the US dollar, which makes it the only cryptocurrency of such form. It is the largest stable coin since it’s tied to a flat currency. Although a well-known currency, it is embroiled in a controversy as the New York attorney-general is investigating it. SO, if you are thinking about investing here, be cautious. According to CoinDesk, its market capitalization is at $37.6bn, as of March 2021.
XRP is a well-known cryptocurrency created in 2012 by Ripple Labs. It is popular with banks and other banking institutions. This digital currency runs on its blockchain protocol which is called Ripple. It also offers financial institutions the most active and most reliable option for sourcing liquidity on demand. It has a market capitalization of $48 billion.
3. Binance (BNB)
Binance was hosted on Ethereum until 2017. It has a different mission, wherein users can buy and sell binance coins and use it to convert another cryptocurrency from one to another. This made Binance coin one of the largest cryptocurrencies in the world. As of January 2021, Binance has a market capitalization of $6.8 billion.
2. Ethereum (ETH)
Etherum, formed by developer Vitalik Buterin, is the second-largest cryptocurrency by total market capitalization at $211.2 billion. It was officially launched in July 2015. Digital currency relies on blockchain technology. According to CoinDesk, it was trading at $1,837 back in March 2021.
1. Bitcoin (BTC)
Bitcoin is the top cryptocurrency in the world. Formed in 2009 by an alias Satoshi Nakamoto. It was created as a store of value and a method to promote decentralized transactions. Elon Musk invested $1.5 billion, which spiked the value of Bitcoin. It has surpassed a market capitalization of $1 trillion for the first time, making it the largest cryptocurrency. According to CoinDesk, it was priced at $54,113 as of March 2021.
What is the number one Cryptocurrency?
Bitcoin is the number one Cryptocurrency.
Which Cryptocurrency is growing the fastest?
DeFi is deemed one of the fastest-growing cryptocurrencies. The trends have shown this to be a fact, which aims at making things like loans, insurance, etc.
Which coin can beat Bitcoin?
Ethereum could easily beat Bitcoin and possibly democratize virtual currencies. Moreover, several possible applications exist, so the underlying ETH token could easily beat Bitcoin’s reign as the number one currency. There is a general belief in Ethereum as it can give users more control over their online data and finances.
Who is the richest Bitcoin owner?
Satoshi Nakamoto is the richest Bitcoin owner, who has 1 million Bitcoin – about $34.9 billion in today’s money.
Can you get rich with cryptocurrency?
Yes, you can, but it depends on how you research and analyze every coin before investing in it. Some right decisions could make you rich.
These are some of the top 10 cryptocurrencies in the world. These coins are utterly popular, but you must proceed with caution and research if you want to invest in them. It doesn’t matter if you are interested in cryptocurrencies; you can’t ignore their presence in the market. Whatever the reason you want to know about some cryptocurrencies, this list should help you choose the best ones for yourself.
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