Top 10 Cryptocurrencies to
Invest
There
are thousands of different cryptocurrencies in the world of cryptocurrencies.
These are the top 10 cryptocurrencies to help you plan your future investments.
What
Are Cryptocurrencies?
A
cryptocurrency is a digital asset that can be traded freely, independent of any
bank or centralized authority. There are currently 22,500+ cryptocurrency
projects active, which together make up the $1 trillion cryptocurrency industry.
Bitcoin
(BTC)
Capitalization:
$426.9 billion
The
initial cryptocurrency is Bitcoin (BTC), which was created by Satoshi Nakamoto in
2009. BTC operates on a blockchain, which is a ledger that records transactions
across a network of thousands of computers, like the majority other
cryptocurrencies. The price of a single Bitcoin in May 2016 was roughly $500.
On February 14, 2023, the cost of one Bitcoin was around $22,128. The growth
there is 4,326%.
Ethereum
(ETH)
Capitalization:
$189.7 billion
Ethereum
has grown significantly as both a coin and a blockchain platform. Its price
increased by 13,991% between April 2016 and the end of February 2023, from
roughly $11 to about $1,550.
Tether
(USDT)
Capitalization:
$69.2 billion
Tether
(USDT) is a stablecoin, backed by fiat currencies like US dollars and Euros and
it maintains a value equal to 1 $. As a result, investors who are cautious of
the severe volatility of other coins choose can Tether for their investment
because its value is theoretically expected to be more stable than that of
other cryptocurrencies.
Binance
Coin (BNB)
Capitalization:
$46,9 billion
One
of the biggest cryptocurrency exchanges in the world, Binance, accepts payments
in the form of Binance Coin which is also called BNB. In 2017, BNB cost only
$0.10. Its price increased by 296,645% to roughly $297 by the end of February
2023.
Dollar
Coins (USDC)
Capitalization:
$41.2 billion
Similar
to Tether coin, USD Coin (USDC) is a stablecoin that remain close to 1 USD. Basically
Ethereum powers USDC, and you can use USD Coin to execute cross-border
transactions as well.
Ripple
(XRP)
Capitalization
$19.1 billion
In
that network, XRP can be used to facilitate exchanges of other sorts of money,
including fiat money and other significant cryptocurrencies. XRP was worth about
$0.006 at the start of 2017. On February 14, 2023, it cost $0.38, an increase
of 6,181%.
Binance
USD (BUSD)
Capitalization:
$15.6 billion
Paxos
and Binance founded the stablecoin known as Binance USD (BUSD) to develop a stable
cryptocurrency backed by the dollar,. Paxos retains an amount of US dollars
equivalent to the entire supply of BUSD in order to maintain this value of 1$.
Cardano
(ADA)
Capitalization:
$13.3 billion
Cardano
(ADA), By eliminating the competitive, problem-solving element of transaction
verification in systems like Bitcoin, this technique reduces energy
consumption, speeds up transaction times, and has a smaller negative impact on
the environment. Cardano functions similarly to Ethereum in enabling smart
contracts and decentralised applications that are powered by ADA, the native
token of the platform.
The price
of ADA was $0.02 in 2017. Its cost was $0.38 as of February 14, 2023. This
represents a 1,815% increase.
Doge
Coin (DOGE)
Capitalization:
$11.0 billion
Famously
created in 2013 as a meme coin and it quickly gained popularity as a
cryptocurrency thanks to a passionate community and clever memes. Unlike many
other cryptocurrencies in world Dogecoins can be manufactured in an unlimited
amount and this make the currency vulnerable to devaluation as supply rise.
In
2017, Dogecoin cost $0.0002. Its price reached $0.08 in February 2023, up
41,496%.
Polygon
(MATIC)
Capitalization:
$10.8 billion
Matic
Network was established in 2017 and It is also known as “Ethereum’s
internet of blockchains”. Perhaps as a result, MATIC offers compatibility
for over 7,000 decentralised applications (dApps).
After
its initial release, Polygon has also grown significantly. When MATIC was introduced
its price was 0.00263 $ and it is now trading at 1.24 with a gain of 46,875%.
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