From Bitcoin to Dogecoin, there are huge number of crypto coins available in the market among them are the list of popular crypto as per the market data.
Market Cap: (730 Billion Approx.)
The First Digital Currency is named Bitcoin founded by an unidentified person named Satoshi Nakamoto. Initially during the early stages of its existence Bitcoin was given as appreciation for mining as its implementation was primarily released on the available Open-source software. BTC works on a blockchain technology or by a logging transactions passed by a series of networks through computers. One Bitcoin Value is now is 30lakhs INR approx.
- Bitcoin is a computerized virtual currency, a decentralized framework that records transactions in an appropriated record called a blockchain.
- Miners who mine Bitcoin work precisely on the computer rigs in order to solve the computer puzzle and the transactions to be known as blocks.
- Different members in the Bitcoin market can trade tokens through digital currency trades or distributed.
- The Bitcoin records/transactions is safeguarded against any misrepresentation by means of a trustless framework. Bitcoin trades likewise work to shield themselves against possible theft..
Market Cap ( 327 Billion Approx.)
Ethereum came into existence in 2015 by Vitalik Buterin co-founder of the Ethereum Blockchain and Joe Lubin. Ethereum is the second largest Crypto followed by bitcoin with the market cap of about $327 Billion. Ethereum because of its developing applications it is always the developers favorite. Ethereum is also used in creating NFT (Non-Fungible Tokens).Ethereum can be used for buying and receiving funds in real time, earning interest and even purchase stable coins. One Ethereum value is now 2lakhs INR approx.
- Ethereum is a distributed ledger based technology manifest that is best known for its cryptocurrency, ETH.
- The tech that strengthens Ethereum allows secure digital ledgers to be openly create and to be maintained and is available to the public.
- Bitcoin and Ethereum has certain similar objectives but their long-term visions and limitations are unique and different.
Market Cap ( 79 Billion Approx.)
Tether is a stable coin launched in 2014,unlike other currencies it is backed up by the fiat coins such as US dollars and Euro and the price of the coin is determined based on the speculation of either of the denominations. Theoretically ,the value of Tether coin is to maintain more consistency than other digital currencies, and is in favor for those investors who enjoy more of volatility of other coins. One tether value is now a $1.
- Tether (USDT) is a stablecoin, a type of cryptocurrency which aims to keep cryptocurrency valuations stable.
- Tether is used by crypto investors who want to avoid the extreme volatility of other cryptocurrencies while keeping value within the crypto market.
- USDT symbol is used by Tether in order to trade tokens.
4.Binance Coin (BNB)
Market Cap ( 50 Billion Approx.)
Changpeng Zhao, founder of Binance, who was a developer who initially created a trading software with high frequency.Binance initially ran its operations in the Ethereum blockchain until its initial coin offering was offered in 2017. Binance coin is a type of digital currency which you can use for trading and to pay fees on binance,( one of the world’s largest exchange platform).
- Binance was initially based on the Ethereum network but now has it’s own Blockchain, the Binance chain.
- For, every one-fourth, Binance uses one-fifth of its profits earned to re-purchase and forever destroy /burn Binance coins held in its digital wallets.
- Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
5.U.S. Dollar Coin (USDC)
Market Cap: (50 Billion Approx.)
U.S. Dollar coin also known as USDC coin was launched in 2018. Unlike the Tether coin the USDC is also stable coin which is backed up by the U.S. dollars and is aiming to run on a 1 USD to 1 USDC ratio portion. USDC is supported by Ethereum (ETH) and can be utilized for a full global transactions. Volatility is less compared to other virtual currencies.
- USD Coin is not run/issued by the government of U.S.
- USD Coin is backed by the fiat money, which makes it a stablecoin.
- The USD Coin reserve assets are kept in the segregated accounts with U.S financial institutions which are regulated.
6. XRP (XRP)
Market Cap: ($ 37 billion Approx.)
XRP was created by the founders of Ripple, which is one of the greatest technology and payment processing based company in California, US. Ripple is an organization that uses blockchain technology for its payment protocol in order to do monetary transactions internationally within few seconds and at a minimal cost. XRP is an currency of Ripple and people who invest in Ripple can buy XRP coins.
though Ripple has it’s potential in the crypto exchanges, it has some problems as well where a Lawsuit was filed by U.S. Securities Exchange Commission (SEC) by the end of the year 2020.
- Ripple is a Blockchain technology based payment system protocol, by owning their own virtual currency- XRP.
- Transactions carried out ripple consume very less time and at very less cost.
- Instead of using Block chain mining, Ripple uses the bank owned servers for approval of transactions.
- Ripple is among the top digital currencies in the crypto market.
Market Cap: ($ 34 Billion Approx.)