There are many different types of cryptocurrencies in the market, some have been around for a while, and others are just starting to emerge.
The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain.
Cryptocurrencies can be sent directly between two parties via the use of private and public keys. These transfers can be done with minimal processing fees, allowing users to avoid the steep fees charged by traditional financial institutions.
Top 10 Cryptocurrencies For 2017
1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Ripple (XRP)
4. Litecoin (LTC)
5. Dash (DASH)
6. NEM (NEM)
7. MaidSafeCoin (MAID)
8. Bytecoin (BCN)
9. Monero (XMR)
10. Steem (STEEM)
While the world is still reeling from the dizzying highs of Bitcoin and its siblings, I thought it would be prudent to take stock of what’s out there and where we are headed.
So, here is a list of the Top 10 cryptocurrencies for 2017. I have compiled this list based on factors such as public interest and value increase. Let’s get started!
1.Bitcoin:
This one is a no-brainer. Bitcoin currently boasts a market cap of around $20 billion dollars (at time of writing) with a trading volume of over $200 million/day.
It has been making record gains over the last few weeks and its price has shot past gold’s per ounce price ($1,229). It has also broken the $1,000 mark for the first time in 3 years!
In this article, I will share some of my thoughts on the top 10 cryptocurrencies for 2017. This is not a list of my top 10 favorites, but instead a reflection of what I think are the best projects in the space based on technology, adoption, and momentum.
When I say “top 10 cryptocurrencies”, this list is not meant to be comprehensive. Instead, it is just enough to get you started researching each one. I will also give you my reasons for including or excluding each cryptocurrency.
I have chosen each cryptocurrency based on its potential to become a household name within the next 5 years. For example, if you ask someone in 2020 “what’s Bitcoin?” they may not know what Bitcoin is, but they’ve probably heard of it and possibly even used it.
Welcome to the year 2017. In this year, Bitcoin prices have risen from just under $1,000 at the beginning of the year to now over $2,700. Ethereum has risen from just under $8 at the beginning of the year to now almost $200. This is a massive rise in value for these two cryptocurrencies and many more are rising in value as well.
With all this increase in value and with new cryptocurrencies coming out all the time, it can be hard to keep track of which one is worth investing your time and money into. This article will guide you through picking the best cryptocurrency to invest in 2017.
1. Bitcoin
What is Bitcoin?
Bitcoin is a decentralised digital currency that can be used to make purchases anonymously. It was first started by an anonymous person or group who
Cryptocurrencies have been compared to Ponzi schemes and economic bubbles by numerous experts in economics and finance, including Milton Friedman, Alan Greenspan,[138] Joseph Stiglitz,[139] and Paul Krugman[140] who stated that cryptocurrencies are “nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it”, and compared them to the tulip mania (1637), South Sea Bubble (1720), and dot-com bubble (1999).[141][142]
Notwithstanding these criticisms, cryptocurrency markets have grown considerably. As of May 2017, the combined capitalization of all cryptocurrencies is bigger than 100 billion USD and record high daily volume is larger than 6 billion USD.[143]
The top 10 cryptocurrencies at the time of writing are: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, NEO, Stellar Lumens, EOS and NEM.
1. Bitcoin
Bitcoin is the first cryptocurrency that came into existence. It is a decentralized peer-to-peer network which enables a new payment system and a completely digital currency. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009.
2. Ethereum
Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications (dapps). Ether is the cryptocurrency generated by Ethereum miners as a reward for computations performed to secure the blockchain.
3. Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS), currency exchange, and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.”
4. Bitcoin Cash (BCH)
Bitcoin Cash is a cryptocurrency that resulted from a hard fork of Bitcoin in August 2017. After growing increasingly concerned about Bitcoin’s scaling issues, Bitcoin miners were finally able to come together and create an alternative version of the blockchain with different rules in place. These rules include increasing block size limit to 8 MB in order
1. Bitcoin (BTC)
Bitcoin is the world’s first cryptocurrency, a form of electronic cash. It is the largest of its kind in terms of total market value.
Bitcoin is an open-source software that was invented by Satoshi Nakamoto and released as a working beta in 2009. The software is a peer to peer network which allows payments from one user to another on the network without the interference of a central authority such as a bank or other financial institution.
2. Ethereum (ETH)
Ethereum is an open-source, blockchain-based computing platform featuring smart contract functionality, which facilitates online contractual agreements. Its main purpose is to run programming codes of any decentralized application.
3. Ripple (XRP)
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.
4. Litecoin (LTC)
Litecoin was launched in 2011 as an early alternative