Famous Cryptocurrency – Top 10 Cryptocurrency In The World

In the last article, we have seen how many different cryptocurrencies are there and the market cap of the top 15. If you plan to invest in cryptocurrencies, you must narrow down your list to 10 odd from the thousands available in the market. Before you even start to consider investing in cryptocurrency – you should understand the risk and reward. On one side, you can see your total capital reduced by 50% in a month. On the other hand, you can have 10X returns in a year.

In this article, we will talk about the top 10 cryptocurrencies you can invest in. It will give you a decent idea about them and grounds to study more about them. These are the popular ones today. However, it does not mean they can’t be replaced in the future. The beauty and danger of crypto – each player has the potential of becoming a star.

famous cryptocurrency

Top 10 Cryptocurrency In The World:

Bitcoin – If you were to ask which of these ten cryptocurrencies mentioned here will always be on the list, it most probably be Bitcoin. It still makes headlines and people still interchangeably use the words – Bitcoin and cryptocurrency. It is also the most trending cryptocurrency.

Investors who invested early have already made a fortune from it. If you can hold onto your nerve, you can still make excellent returns from Bitcoin. The price movement of other major cryptocurrencies is governed by the price movement in Bitcoin.

When it comes to fiat currency, the biggest problem for investors is inflation. If you keep your money in a savings bank account, the value of it degrades because of inflation. Bitcoin was able to solve this problem by fixing the number of units to 21 million. 

Ethereum – After Ethereum was introduced many thought it will replace Bitcoin in the coming years. However, it did not happen. Still, Ethereum held its strong position and holds the second position in terms of market cap. The advantage of Ethereum over Bitcoin is that it can process higher transactions per second.

It is not the only favorite of retail investors, but many major companies have stakes in Ethereum. Companies like HSBC, Barclays, Microsoft are using Ethereum in their system. Ethereum is not only a cryptocurrency – its code is widely used for different decentralized programs. Unlike Bitcoin, there is no cap to the number of coins that can be available. However, there is a restriction on the number of coins that can be mined in a year – 18 million.

Litecoin – It is very similar to Bitcoin but with certain advantages. It has a lower cost of transactions and higher transactions per second. Litecoin’s creator believes the currency has the potential to be used for buying everyday goods and products.

Again, just like Bitcoin, the maximum number of Litecoins is capped, but the number is higher than Bitcoin. The maximum number of Litecoins that can be issued is 84 million. As per the data available, 68 million have already been mined, 16 million left. If you look at the number, it is four times that of Bitcoin. The reason being it is four times faster than Bitcoin.

Ripple – When it comes to cross-border financial transactions, Ripple comes on top of the list. It is widely used by many financial institutions across the world for a number of reasons. The popular reasons are it provides real-time exchange rates and lower currency exchange rates. It is intended for the same purpose – to move money from one point to another more efficiently than current methods. 

There is no mining process with Ripple like Bitcoin. A hundred billion can be there. All of them already exist, however not all of them are in circulation yet. Ripple (the company) plans to release a maximum of 1 billion tokens each month. The current circulation is around 50 billion. Ripple network handles 1500 transactions per second. As per claims, it can handle 50,000 transactions per second.

Zcash – The Z in Zcash stands for Zerocash protocol. It is a derivative of bitcoin, the difference being in the anonymity of transactions. Zcash aims to do what cash (physical money) does – when you give physical money to someone – no information about you is disclosed to the person. If the money is sitting in your wallet, you cannot trace its origin, right? It uses zero-knowledge cryptography that hides the amount and the recipients of the protected transactions in Zcash. 

It is still in the growing phase, and many analysts believe it has many used cases. Just like Bitcoin, the maximum number of Zcash coins is capped at 21 million. They will be distributed (mined) over 131 years.

Dogecoin – One cryptocurrency that has become very popular in the last few months is Dogecoin, thanks to Elon Musk. You will be surprised to know – it was created as a joke by engineers Jackson Palmer and Billy Markus. Dogecoin is an open-source cryptocurrency based on a fork of the Litecoin code. 

Unlike Bitcoin, there is no upper limit to the number of Dogecoin that comes into circulation. At present, there are more than 100 billion in circulation. For each block that is mined, the miners receive 10,000 Dogecoins as a reward.

NEO – A lot of people consider NEO as China’s answer to Ethereum. Both Ethereum and NEO use smart contracts, but NEO has a unique blockchain and improves on Ethereum’s network. All the NEO tokens are pre-mined and have a cap of 100 million. They are used for network management, block creation, and any other consensus requirements. Like Zcash, it also uses a digital identity to help protect its users. 

NEM – NEM is a double-layer blockchain coded in Java that supports multiple ledgers on its cryptocurrency layers. It is built in a way that allows you to connect and transfer any digital assets between public and private blockchain. It is also the world’s first practitioner of Proof-of-Importance consensus (more on this in some other article).

One sector which NEM is likely to disrupt is logistics. It replaces the present bulky and inefficient systems with the more open, secure, and faster ones. It uses the concept of harvesting and not mining. 

Monero – Another cryptocurrency that focuses on the anonymity of transactions. However, the algorithm to accomplish this is different. Monero is more technically advanced if you are looking to hide the trace of the transaction. The supply of Monero coins is virtually infinite, unlike Bitcoin. 

The cryptocurrency has a number of used cases – Businesses can use it to make purchases from suppliers without exposing their commercially sensitive information. It is a fungible currency (can be exchanged or traded for one another) that makes it more appealing to businesses to accept payments in Monero.

Cardano – If you want to send and receive digital funds, you can use Cardano. Other than being a cryptocurrency, it is also a platform for decentralized apps. It uses a layered blockchain to store information and track transactions. You will be amazed to know it is faster than Visa. It has the capability to process 65,000 transactions per second. 

It is an eco-friendly cryptocurrency, unlike Bitcoin that makes it more attractive. To compare – Bitcoin consumer energy is equivalent to a small country (Switzerland) each year while Cardano consumes energy equivalent to 600 US house’s energy each year. It has maintained its position since its launch in 2015 and always comes under the list of the most popular cryptocurrency.

We hope the above list will help you in making better investment decisions related to cryptocurrency. We will talk about some of these cryptocurrencies in great detail in the coming articles.

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