5 Popular Cryptocurrencies You Didn't Know About
April 15, 2021 (Investorideas.com Newswire) Cryptocurrencies have remained in the spotlight for as long as this generation can remember and we see some cryptocurrency trending over the news every now and then. Everyone knows about bitcoin, which is arguably the most popular and valuable cryptocurrency that stole the spotlight this year because of it recording incredible gains during the later part of 2020 and into 2021 as well.
During the pandemic, people tried to make the most out of this opportunity to earn handsome returns on their investments and used platforms such as BitQH to bet on crypto CFDs using technology-driven solutions.
While bitcoin certainly is the pioneer of cryptocurrencies, there now are thousands of other cryptocurrencies, also known as altcoin that can be considered for crypto trading and investments. Here are 5 popular cryptocurrencies that you didn't know about and you would certainly find them valuable.
Launched in 2015, Ethereum is the second-largest cryptocurrency with regards to its total market capitalization, second only to bitcoin. At the time of writing, the price of this cryptocurrency stands at just over $2000, with the total market capitalization standing at an overwhelming $230 billion.
Also known as the utility cryptocurrency, Ethereum utilizes blockchain technology for smart contracts and has managed to retain its position for the respective task, till date. Ethereum also claims to be the most used cryptocurrency out there, with an ever growing list of possibilities and scope of financial freedom.
Ripple XRP currency stands at the 7th rank in terms of total market capitalization and is being traded at a price of $0.58. It came into existence in 2012 and was created by a blockchain company known as the Ripple labs. XRP also utilizes the company's own blockchain protocol, which is where it gets its name 'Ripple' from. Ripple markets its XRP cryptocurrency as the fastest and most reliable cryptocurrency. Given that it decentralizes transactions, removing the need for a central intermediary, people find this cryptocurrency a highly useful tool to conduct transactions.
The company also claims that XRP is the least costly and most scalable digital asset, which could end up playing a significant role in the global payments system.
Currently, Binance coin rests comfortably at the third sport as far as its market capitalization is concerned. With a total market capitalization of $53 billion and a trading price of $341 as of April 2021, it certainly seems like an interesting find.
Binance coin or BNB is used to trade cryptocurrencies over the Binance exchange platform. While Binance users receive a discount when trading over the Binance exchange, it can also be used to trade other cryptocurrencies such as Litecoin, Ethereum, and bitcoin.
Binance coin can be used for trading and a number of utility tasks such as credit card payments, investments, and booking travel arrangements.
Litecoin has also become one of the most popular cryptocurrencies, with a total market capitalization of $13 billion and price of $207, at the time of writing. Litecoin was introduced in 2011, which makes it one of the oldest cryptocurrencies as well, making it a strong rival to bitcoin and other altcoins.
Litecoin has gained popularity for offering quicker processing of transactions, compared to bitcoin; however, bitcoin and litecoin are quite similar in terms of other attributes.
While many of you might have heard about dogecoin when it rose to popularity after Elon Musk mentioned it, it actually has been around for over 7 years. Dogecoin is currently trading at a price of $0.06, with a total market capitalization of $7 billion. The reason for dogecoin's popularity is the splendid gain that it exhibited earlier this year, making it one of the most talked about cryptocurrencies in February 2021.
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