Last time, we quoted our anonymous expert friend who suggested two simple investment strategies you could use if you had some money to spare. He said, you should pay attention only to top ten cryptos. Today, we are going to tell you about four most popular cryptocurrencies according to CoinMarketCap tracker. Let’s see in what way they differ from each other.
Usually, ratings start with the last rated item. We won’t do that. Let’s begin with the biggest thing in the game.
Popular Cryptocurrencies – #1 – Bitcoin
BTC is the initial starting point for all the rage. It was born in the wake of the two thousand eight financial crisis and by the end of two thousand seventeen has risen to spectacular popularity. But despite rapidly skyrocketing in value, bitcoin’s detractors are worried about the token’s incredible volatility, slow speeds and transaction fees. Actually, today, bitcoin is maybe the slowest cryptocurrency on the market.
There are currently more than 16.8 million BTCs in circulation, and this currency has a so called supply limit of 21 million. It means that soon enough the emission will stop. I wonder, what will they do with all those mining farms when this day finally comes?
Popular Cryptocurrencies – #2 – Etherium
Ethereum is the second most popular cryptocurrency in the world.
Unlike bitcoin, it wasn’t initially meant to be a money system. It was designed as a “world computer” super network for the decentralised development of applications. All of the apps developed on Ethereum are put on a distributed public platform where miners work to earn tokens called Ethers. They serve as the fuel for the network. This really makes Etherium differ from other cryptos.
Popular Cryptocurrencies – #3 – Ripple
Ripple is very young. It came out of nowhere towards the end of two thousand seventeen. At the very beginning of its life, Ripple outran Ethereum for a little while but then firmly occupied the third place. If compared to other competing cryptos, Ripple serves as a centralised transaction network used by banks for money transfers. Money sent on the Ripple network is converted into tokens on one end and then can turn into any currency at the other end. Ripple’s management say that it’s rather the rival of SWIFT, than BTC or Ether. But in fact, you can do this trick with any crypto. So, guys, what’s the point?
Popular Cryptocurrencies: Bitcoin Cash
In August two thousand seventeen, there was some kind of discord between bitcoin adopters over BTC’s technical limitations, which led to what is known as a fork in the blockchain. The result of that fork was the birth of a whole new token, with new rules and a new blockchain. It was called Bitcoin Cash. And this token occupies the fourth place in our rating. Some hope it will outrun the older brother one day. Well, good luck.
Read the next article about the mysterious crypto world.
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