Are you interested in cryptocurrencies?
Are you planning to invest in cryptocurrencies?
Then you must know everything about cryptocurrencies before you make your decision. There are around 4000 cryptocurrencies invented, which of them do you think are the most popular and are perfect for investing.
If you’re someone who has no idea which cryptocurrency is popular, then you’re at the right place. In this article, you can find the most popular cryptocurrencies.
What are you waiting for? Let’s check out then.
Bitcoin is one of the first cryptocurrencies that has been known to the world. It was invented by an unknown person known as Satoshi Nakamoto in 2008. However, the bitcoin software was launched in 2009 as open-source code. Till date, it can be considered as the most popular cryptocurrency. It also has a higher price compared to other cryptocurrencies. This cryptocurrency was based on the blockchain, which is a distributed ledger technology.
One of the main reasons why more people are interested in this cryptocurrency is because people don’t need to depend on centralized intermediaries like financial institutions. Simply put, your financial details are secure and absolutely private. This is the oldest bitcoin and the reason behind popularity (still) is because of its community. Yup, you heard it right, it has one of the biggest communities with developers and investors who are helping it grow. That is what motivates millions to buy and swap BTC every day.
The second most popular cryptocurrency on this list is Ethereum. If you’re enthusiastic about cryptocurrencies then it is impossible to not hear about Ethereum. This cryptocurrency has been going head-on with Bitcoin. It was created back in 2015 by Vitalik Buterin. Most people only consider this to be a digital currency. If you’re also one of those people then it is time you get your facts straight. Ethereum is more than cryptocurrency. It is a blockchain-based platform that is used to develop smart contracts and decentralized apps.
The currency used on this platform is Ether. What makes Ethereum different from other cryptocurrencies is that when you have an idea for any particular application or project that needs blockchain, you dont have to develop your blockchain. The users can start building it on the ethereum blockchain only. Compared to bitcoin the transaction speed is faster with Ethereum.
One of the most unique cryptocurrencies in this list is Ripple. Wondering why? Unlike Bitcoin and Ethereum this cryptocurrency specifically deals with one specific industry i.e., International Payments Transfer. It was founded to make international transactions fast and cheap. To transfer money internationally it takes around a week, but with Ripple (XRP) users can send money within seconds at a low transaction fee. Cool, right? \
This coin was founded back in 2012. Bitcoin or Ethereum don’t have a central entity that controls or holds the majority of coins. However, that may not be the case with Ripple (XRP), currently, there are around 100 billion (XRP) that exist in this world and around 50 Billion (XRP) are owned by the Ripple Labs. In case you’re wondering this is the company that develops Ripple Payment.
Tether is one of the first currencies in the group of Stablecoins. Have you heard about them? Stablecoins are specifically designed cryptocurrencies to reduce the volatility in the price of the stablecoin. Bitcoin although being the most popular cryptocurrency has experienced dramatic volatility.
However, stablecoins like Tether try to smoothen the price fluctuations to draw the attention of more users, especially the ones who are more cautious towards cryptocurrencies. It was launched back in 2014 and Tether (USDT) describes itself as a blockchain enabled platform which is designed mainly to ease the use of fiat currency digitally.
EOS was created by the founder of blockchain blogging site Steemit “Dan Larimar”. He is also the founder of the cryptocurrency exchange Bitshares. EOS was launched in June 2017 through ICO, its platform is supposed to be launched in June 2018. EOS platform is expected to become a direct competitor to NEO and Ethereum. This cryptocurrency supports multiple languages including C++.
The users can easily buy or sell EOS from the licensed cryptocurrency exchanges. As many people who are not satisfied with the Ethereum network are moving their investments to EOS. It has overcome many challenges that Ethereum couldn’t such as know-how requirement to code in solidity. Not only that it provides services such as creating databases, account management services, etc to developers.
Bitcoin Cash (BCH)
Since you have already seen the name, you must have a brief understanding of this currency. Your guess is right it was bifurcated from bitcoin back in 2016. This cryptocurrency was created because the developers of the bitcoin community couldn’t agree to the changes that the bitcoin code requires.
This argument has split the bitcoin into bitcoin cash (BCH). The reason behind creating this cryptocurrency was to put an end to the existing problems of bitcoin such as transaction fees and scalability. And it has to a certain extent did justice to it. As you see, bitcoin cash transactions are faster compared to bitcoin and the transaction fee has also reduced.
This cryptocurrency was created back in 2017 by Ethereum’s co-founder Charles Hoskinson. This cryptocurrency has similarities with Ethereum. It was also developed as a platform for smart contracts and decentralized apps. The difference between these currencies comes mainly in technological developments.
Cardano has many technological improvements over Ethereum. Cardano is considered as one of the most advanced generations of blockchain technology. In the future, you will see many developments in Cardano as it is backed by the community of researchers and scientists.
Litecoin was created way back in 2011. This cryptocurrency was created by ex-Google employee Charlie Lee. Litecoin is also built on the same blockchain of Bitcoin. The main purpose of creating this cryptocurrency is to improve bitcoin. So it is quite similar to bitcoin. To complete a bitcoin transaction it takes 10 minutes but with Litecoin it takes just 2.5 minutes. The transaction fee of Litecoin is $0.179.
TRON was founded in 2017. This is also a blockchain that allows developers to develop amazing decentralized apps and smart contracts. TRON plans to build a new web or environment that runs by blockchain. You will have security and no centralized financial institutions can view or control your transactions.
NEO was created by Da Hongfei back in 2014. This cryptocurrency is earlier called AntShares. It was rebranded in June 2017 as NEO. NEO is usually referred to as Chinese Ethereum as it has a lot of similarities with Ethereum. It also offers the blockchain-based platform which allows developers to develop smart contracts.
As you have made it to the end you have seen that these are the most popular cryptocurrencies right now. Hope this article has provided you with all the valuable information that you are looking for.