Here’s a brief, informal list of some cryptocurrencies that are worth considering if you’re new to the world of cryptocurrency.
This is Bitcoin. If you want to get rich off of cryptocurrency, start by getting rich off of Bitcoin. It is the most popular cryptocurrency, the first and most widely used, and it’s the only one that has widespread public acceptance. The value of a bitcoin changes constantly, but for now it’s about $1,000 per unit (plus or minus a few percent).
A fascinating thing about Bitcoin is that its value depends on how much other people want it. When more people want bitcoins than bitcoins are available – which is called “saturation” – their value increases; when fewer people than usual want them – “deflation” – their value decreases.
There are several reasons why people like bitcoins: because they are scarce like gold or silver, because they are easy to use for payments, and because they are anonymous and decentralized like cash.
Let me give you the most popular cryptocurrency list. Ethereum, Ripple, Bitcoin, Litecoin, Dash, Monero, Bitcoin Cash, Ethereum Classic and Zcash.
The next one is EOS but it’s not as well-known and it’s a little more expensive.
While the original cryptocurrency, Bitcoin, is the best known of the cryptocurrencies, it still has a relatively small market cap. Over 7 million Bitcoins have been mined, but at the current price of $1,400 per Bitcoin (about 4 times higher than when it was created in 2009), that means there are only about $4 billion worth of Bitcoins in circulation.
Bitcoin is probably not the most efficient way to transfer money around the world: Already more than 30 other cryptocurrencies have surpassed Bitcoin in market cap and transaction volume.
The most well-known of these alternatives is probably Ethereum, whose market cap is currently about $25 billion.
Other popular cryptocurrencies include Ripple (around $6 billion), Litecoin ($3 billion), Zcash ($1 billion), Monero ($1 billion), Dash ($1 billion) and Dogecoin ($800 million).
Most people have heard of Bitcoin, but they don’t know much about it. It’s often called digital gold, a kind of money that has no central bank, and where all transactions are recorded publicly on a distributed ledger.
Bitcoin is both real and virtual: it’s a cryptocurrency (a new kind of digital money), but it’s not the only one. There are many others.
So far only a few countries have accepted them as legal tender–Venezuela in 2014, Bolivia in 2016, and Ecuador in 2017. So far there aren’t any ATMs for them or anything like that, just online exchanges where you can buy and sell them using traditional currencies such as dollars or euros.
Here’s a quick list of the most popular ones:
There’s a tendency to write about cryptocurrencies as if they’re all the same. They’re not. Some are in common use, but a lot are only now becoming popular. If you want to get started with cryptocurrency, here are some of the ones that have the biggest market capitalizations (how much money they’d cost if you bought them all at once).
They’re not going away, and that doesn’t mean that their prices are going down. There are hundreds of other cryptocurrencies in development, from obscure ones barely known outside their communities to ones that would make your head spin.
Cryptocurrencies were first created to facilitate online payments, but now there are thousands of different versions and flavors in use for a wide variety of different purposes.
There are a couple of ways to look at the idea of Bitcoin. One is as a collectable, like a stamp or baseball card. The other is as a currency, like dollars or euros. (You can also think of Bitcoin as being in the same category as gold.) Either way, you’re buying something more than just an idea: you’re buying into something that has been around since 2009 and is still going strong.
The idea behind Bitcoin was to make a virtual money system that didn’t depend on trusting banks. There are many ways to do this, but one of them is to have each transaction be recorded and verified by lots of people who don’t necessarily trust each other.
Most of the coins that make up the market cap now (by which I mean the value of all the coins in circulation plus coins not yet in circulation) are cryptocurrencies based on Bitcoin’s code. The most popular ones are Litecoin and Ripple – both of which have been around for quite a long time.