Expect a very busy 2016 for Crypto Currencies. The general consensus is that the block chain technology is here to stay, and that virtual currencies are going to be implemented in our future daily lives. There are over 400 crypto currencies out there, but I am only going to focus on the top 10 that have the best value behind them in 2016.
1.) This list will be based on market value and total units in circulation.
2.) Total Market Cap for all Crypto Currencies: $6.1 Billion (This number changes daily)
3.) Bitcoin has largest market cap at $4.5 Billion, then Ripple at $480 Million, Litecoin at $195 Million, Monero at $95 Million, Ethereum at $85 Million.
4.) Market cap is a calculation of Total Coins in Circulation x Price Per Coin. That gives you an overall valuation of the coin’s entire network or ecosystem as a whole.
5.) Price Per Coin is a calculation based on how much it costs to buy 1 coin off an exchange.
6.) Market cap does not indicate a coins true value; it gives you an indication as to its potential usage and popularity among investors/speculators. It also does not tell you how many coins have been bought
With the rise of Bitcoin to more than $700 per BTC after a significant price increase, there are now 10 crypto currencies that have a market capitalization of more than $1 billion. This list will be updated each month in the beginning of the new year for the top 10 cryptocurrencies for 2017 and each month thereafter. For those who are not familiar with Bitcoin, it is a virtual currency that can be exchanged for goods and services from a growing number of vendors. In order to use Bitcoin, you need a wallet on your computer or mobile device that stores your secret key needed to spend your BTC. The biggest problem with Bitcoin is people losing their secret keys making their coins inaccessible. There was something like 750,000 Bitcoins lost in 2013 due to people losing their keys or having their hard drives crash without having any backups of their wallets.
The top 10 cryptocurrencies by market capitalization for 2016 include:
Crypto currencies are a natural evolution of money. The first coins were made from gold, silver and copper. Because the materials used were heavy and hard to carry around, paper money was invented. Cryptocurrencies are the next step for money, a completely digital form of cash, that uses encryption techniques to control how much is created and how transactions take place.
With the recent price rise of Ethereum it’s not too late to get involved in this new technology. The best part is you don’t need to buy 1 whole Bitcoin to get started. You can start with as little as $50 and still invest in multiple currencies.
Bitcoins have been exploding in value lately but its far from being alone in the crypto currency world. There are more than 700 different crypto currencies right now and their number is growing every day! In this post I’ll list my favorite 10 coins that have the potential to make huge gains during 2016-2017 based on their technology or investment potential behind them.
I’m no financial expert but I’ve done plenty of research on what makes a coin valuable and what makes one worthless so hopefully this list can be useful for you too!
1. Bitcoin (BTC)
The leader in crypto currencies, Bitcoin is still the most valuable coin by market cap
For those of you that are interested in investing in crypto currencies, it is important to research the coins before diving into them. This blog will give you a list of top ten coins to invest in for 2016.
Bitcoin is a digital currency that is based on the open source peer-to-peer cryptographic protocol initially released by Satoshi Nakamoto in 2009. It is not controlled or issued by any bank or government, but by a network of developers. As opposed to fiat currencies, Bitcoin only exists as a network and there are no physical bitcoins.
The system is decentralized and allows users to send and receive Bitcoins without any central authority (like a bank). The prices can be volatile since the value of Bitcoins can fluctuate depending on supply and demand, just like other currencies.
The peer-to-peer payment network allows for online payments between users without an intermediary.
Bitcoin is attracting attention as a radically new form of currency because it has no central issuer; the peer-to-peer network manages transactions and the issuance of new Bitcoins, based on an algorithm that reduces the rate at which Bitcoins enter circulation, with the ultimate total limit set at 21 million BTC.
However, Bitcoin does not behave like traditional currencies: its value changes dramatically over short periods of time. Bitcoin has been shaped by a series of events that have had a significant impact on its price in the market.
Cryptocurrency is a term describing digital currencies based on blockchain such as bitcoin, Ethereum and Ripple. Crypto tokens are not physical money but instead fully digital funds and assets. We will bring you the latest cryptocurrency news, token prices and crypto market capitalisations here. Cryptocurrencies typically entail various methods of digital encryption and verification processes. Crypto assets are independent of central bank regulation. Find out all the latest news about crypto exchanges, BTC, ETH, XRP and how to buy crypto tokens below.