If you managed to find this article, then it is very likely that you heard about people making a lot of money by trading cryptocurrencies (you will also hear terms like digital currency and digital asset). If that is the case, chances are that you thought about investing as well, but — for some reason or another — never managed to explore the cryptocurrency world in more detail.
If you’re interested in buying crypto with a credit card or a bank deposit, you can register to Kriptomat here – in only takes two minutes.
Trust us, you are not the only one.
Most people face the same problem because our daily life activities consume most of our time. Consequently, you might also struggle with doing proper research because there is simply too much new information. In short, we don’t find the time and will to properly educate ourselves.
That is why we are offering informative articles and guides right here on our Kriptomat website. The articles are written for complete beginners.
Are you interested in learning more about the most popular cryptocurrencies or how to make a quick, easy and secure purchase? Read the following article on the topic of the most popular cryptocurrencies, the basic features that make them special and where you can buy them!
For practical advice on cryptocurrency trading, you can check out our article titled ‘10 Cryptocurrency Trading Tips’.
The State of Classic Currencies
In the field of classic (fiat) currencies, we have the euro, US dollar, Japanese yen, Indian rupee, Russian ruble, Croatian kuna and many others. These currencies originate from and are geographically linked to a single country or community of countries (European Union or the United States of America). Geographically, their use is obviously limited. For example, you are not able to pay for coffee in Finland with Russian ruble as it is not an accepted form of payment. They will (probably) only accept euros.
When displaying the value of individual cryptocurrencies, they are most frequently converted to globally accepted, and, more importantly, relatively stable currencies. Most commonly used fiat currencies for this sort of value representation are the US dollar, euro and Japanese yen. We can conclude that these currencies are somewhat more established, have more trust and are generally safer and more widely used.
What Is the State of Cryptocurrencies?
In contrast to conventional monetary currencies, which are issued and function mainly in one clearly defined location, cryptocurrencies don’t have geographical constraints. And unlike the classic currencies, you can store them online or offline in the so-called cryptocurrency wallets.
There are also many more cryptocurrencies besides Bitcoin. Find out how much the most popular ones are currently worth.
At the time of writing this article, according to the data at coinmarketcap.com, there are at least 1,500 different currencies available.
What Is Alt-coin and What Cryptocurrencies Are There?
In the global terminology, the term “Coin” is also used to name cryptocurrencies. Bitcoin was created as the first currency. It set the standards, guidelines and represents a kind of a basis for all other coins that were created later and are in an alternative to Bitcoin in a variety of different ways. The unwritten consensus for the way these coins are called is the word ‘alt-coin’ (alternative coin). Read more about the origin of these coins in the article ‘What is ICO’.
A lot of different currencies have been created already and it is expected that this trend will continue for some time to come. At the same time, it is expected that many won’t last and will disappear over time. Cryptocurrencies that will survive are the ones that will be able to prove their value, usefulness, uniqueness and will be able to serve their purpose in a meaningful way.
This is evident on the coinmarketcap.com platform where we can observe that from the roughly 1,000 listed cryptocurrencies, at least about a third of them don’t have a meaningful market share or day-to-day trading volume. There is a great chance that these currencies won’t be able to stand the test of time. Such a wide range of currencies gives you many different trading opportunities.
Top 20 Cryptocurrencies
In the table below, we present the top 20 cryptocurrencies by market capitalization and their basic characteristics.
|Sign||Name||Code||Purpose and specialty||Maximum coin supply||Link|
|Bitcoin||BTC||The first and most popular decentralized cryptocurrency. It is most widely accepted, has the largest volume and the largest market share.||21,000,000||Link|
|Ethereum||ETH||Ethereum is a blockchain platform and Ether is the token that powers the network built on that platform. The blockchain platform is open source and serves as a basis for the development of many other solutions.||No current limit||Link|
|Ripple||XRP||XRP is not called Ripple, but XRP is Ripple’s native digital asset. Ripple Labs is developing different solutions for the financial sector and XRP is intended to help speed up the cross-border payments and lower transaction costs. The network can processes payments in a matter of seconds.||100 Billion||Link|
|Bitcoin Cash||BCH||Bitcoin derivative (or fork in blockchain terms) that manages to utilize its blockchain platform to process more volume of data faster, mainly thanks to larger blocks. Keep in mind that this doesn’t necessarily represent an improvement over Bitcoin.||21,000,000||Link|
|Litecoin||LTC||If Bitcoin is said to be the gold standard in the crypto world, then Litecoin is often the silver. It is characterized by higher speeds and security of transactions.||4,000,000||Link|
|Neo||NEO||A platform that is also known as the Chinese Ethereum due to its similar features and some proposed improvements – especially with regards to security.||100,000,000||Link|
|Cardano||ADA||Their team is developing a blockchain technology that harnesses the latest research and engineering practices to build a system that will securely run decentralized applications and smart contracts.||45 Billion||Link|
|Stellar||XLM||It is similar to Ripple because the platform is intended for financial transactions, but it also allows for a faster conversion of currencies – crypto and fiat.||No current limit||Link|
|IOTA||MIOTA||A platform intended to support the “Internet of Things;” connecting all kinds of imaginable devices and supporting transactions between those devices.||2.78 Quadrillion||Link|
|Monero||XMR||A cryptocurrency whose characteristic is the encryption of transactions – the result is extreme security and anonymity with pretty much no way of tracking.||18,400,000||Link|
|Dash||DASH||The name Dash is derived from the words Digital Cash. It is an improvement over Bitcoin in terms of the speed of transactions and higher anonymity.||18,000,000||Link|
|NEM||XEM||Cryptocurrency with blockchain that uses a different way of mining and validating transactions.||8,999,999,999||Link|
|Ethereum Classic||ETC||A fork of Ethereum. It started off as a result of different thinking and philosophy.||210-230 Mio||Link|
|Nano||NANO||Formerly known as Raiblocks, it is a platform for faster transactions without middlemen commission.||133,248,290||Link|
|Qtum||QTUM||Chinese platform for developing solutions and smart contracts on its own blockchain where the application data is stored.||1oo,000,000||Link|
|Bitcoin Gold||BTG||Bitcoin derivative (fork) with the same characteristics, but a different mining algorithm that protects low profile miners.||21,000,000||Link|
|Zcash||ZEC||Bitcoin upgrade with a public blockchain that manages better, completely anonymous transactions.||21,000,000||Link|
|Verge||XVG||A cryptocurrency that aims to become a currency for everyday use with a focus on reliability, security, speed, and privacy.||16,555,000||Link|
|Steem||STEEM||A blogging and social networking platform that enables online content creators to monetize their content through a rewarding system from its users.||No current limit||Link|
The text is informative in nature and does not count as an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, past returns are not a guarantee for future returns – risk only those assets that you are willing to lose.
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