7 Cryptocurrencies You Should be aware of

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Once people start talking about cryptocurrencies, which also happens to be number one trending topic in the internet for long now, the first thing which comes to one’s mind is nothing but bitcoin. No matter how big fan you might of bitcoins, you simply cannot deny the fact that new cryptocurrencioes are slowly surfacing up in the market and yet, some of them are really better than bitcoins on certain grounds. For more information about cryptocurrencies then visit our page now.

If you are blind to other cryptocurrencies and also the recent updates on the development scheme of Bitcoins now then the first thing which you should do is to learn about each of the things for making sure that you are able to carry out a vivid study on all of them and do a comparative study to determine which one might be the best option among all.

1.  Bitcoin

Bitcoin is arguably the most well-known cryptocurrency on the market and the most expensive. It was only in 2009 when bitcoins first came to the market under the guidance and developments of Satoshi Nakamoto. Bitcoin is not controlled by a central financial authority and is not issued from any physical gold.

There are already about 16 million circulating on the market today. It can be bought or sold on various exchanges worldwide through online wallets or over-the-counter brokerages like Binance, an exchange that has recently become famous for its intuitive usage.

2.  Ethereum

Ethereum is another blockchain platform that allows developers and users to create smart contracts or decentralized apps (DApps). These DApps can be used to trade virtual goods or run crowdfunding campaigns on behalf of the developer.

It uses blockchain technology to provide a distributed virtual machine that can run Turing complete scripts using an international network of public nodes.

3. Litecoin

Litecoin is a peer-to-peer cryptocurrency that uses open-source software and was created by former Google employee Charlie Lee, who also designed the Dogecoin cryptocurrency. It was launched in October 2011 and is currently available on Coinbase, Bittrex, and Kraken.

In addition to being faster and cheaper than Bitcoin, Litecoin also has more features than its rival:

  • It has shorter confirmation times (less than 2 minutes).
  • It has lower transaction fees (0.0001 LTC per transaction).
  • It can be mined using less powerful computers than Bitcoin requires (a computer with one gigabyte of RAM).

4.  XRP

While a new contender in the field, Ripple Labs and its cryptocurrency, XRP, has quickly become one of the most successful cryptocurrencies.

5. Tether

Tether is a cryptocurrency that claims to have the same value as the U.S. dollar. It is pegged to its market price and backed by cash reserves to avoid fluctuations. It was first issued on the Bitcoin blockchain in 2015 and later migrated to Ethereum in 2017.

Tether is designed to make transactions with cryptocurrencies easy, secure and fast across different exchanges without going through banks or other financial institutions.

6. BNB

Binance is not only a crypto token but one of the most renowned crypto exchanges. It’s used for paying transaction fees at Binance and can also be used for discounts on trading fees when trading certain coins. It was launched in July 2017, worth $0.1 per unit.

Since then, it has grown to $8 per unit and is currently one of the most valuable cryptocurrencies in circulation. As with other popular coins like bitcoin, ether, and XRP, BNB can be traded on exchanges for other currencies or used as a payment method when buying goods or services from businesses that accept cryptocurrency.

7. USDC

USDC is a newly launched stablecoin, which means it’s pegged to the U.S. dollar and backed by FDIC-insured banks. It was created to respond to other cryptocurrencies like bitcoin and ether volatility. Unlike those tokens, USDC is neither decentralized nor requires users to pay fees or mine coins to use them—they can be purchased directly from exchanges like Coinbase Pro, BitGo, Circle, and Gemini.

The Takeaway

There are thousands of cryptocurrencies on the digital market right now. Still, these 7 are cryptocurrencies that are doing extremely well right now. Whether you’re investing in XRP, USDC, or good old Bitcoin, keep these coins’ natural volatility in mind when dealing with crypto!

About Neel Achary 19379 Articles
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.