Bitcoin has proved to be the most powerful cryptocurrency in terms of value. The digital currency that was launched in 2009 has attracted many investors across the world. This is because of the current and future trends that have shed light on the high prospects of Bitcoin.
But Bitcoin is not the only cryptocurrency in existence. It is estimated that there are close to 4,000 cryptocurrencies in the world today. Most of these cryptocurrencies have gained popularity due to the hype brought by Bitcoin.
If you have been looking for a place to invest your money, then cryptocurrency is one of the best options.
However, you need to be aware of the risks involved such as volatility and online scams. It is advisable to buy cryptocurrencies by Sofi – where you are guaranteed safety and transparency.
Below are the five most popular cryptocurrencies:
Bitcoin was the first cryptocurrency to be publicly introduced to the market. Since 2009, when it was launched, Bitcoin has remained the most valuable cryptocurrency in the world. The current value of Bitcoin is more than 56 thousand US dollars.
There are currently over 17 million Bitcoins in the market. It is unlikely that there is any other digital currency that will surpass the market value that Bitcoin has attained so far. There are 21 million Bitcoins in total and once that figure is attained, no Bitcoins will ever be created again.
Ethereum is the second most valuable cryptocurrency after Bitcoin. It is a digital token that led to the rise of initial coin offering (ICO). Although not as popular as Bitcoin, the value of Ethereum has been on a steady rise since it was launched. It works almost like other cryptocurrencies in terms of technology.
There are more than 100 Ethereum tokens available in the market. The good thing about this cryptocurrency is that it allows for exchange with other cryptocurrencies such as Bitcoin.
- Bitcoin Cash
Bitcoin Cash is another popular and promising cryptocurrency. It was among the latest cryptocurrencies to be introduced. Bitcoin Cash was started due to the scalability issues experienced in Bitcoin and other digital currencies. It was able to increase the size of the block from a single MB to 8 MBS.
Ripple is another much-hyped cryptocurrency. It has a total market capitalization of more than 25 billion US dollars. Unlike other cryptocurrencies, the price of each Ripple token is very minimal. There are more than 40 billion XPR tokens in the market.
- Binance Coin
This is a utility cryptocurrency that is normally used as a payment option for fees charged on Finance Exchange. Anyone using the digital currency as a payment option is given some discount. The cryptocurrency still has a long way to go.
The rise of cryptocurrencies has created numerous opportunities for investors around the world. When Bitcoin was first introduced, many people remained suspicious and thought it was just a fad. But more than two decades later, Bitcoin has proved many people wrong.