Whether you are a Cryptocurrency trader, investor, or you are simply diving into the Cryptocurrency world just for the sake of gaining knowledge, you may need to know which of the Best Cryptocurrencies are reigning in the market.
There are thousands of Cryptocurrencies in the market. Each has a different value, a different market cap, and distinct use cases. Bitcoin ATM cards are also available now, but users have to pay Bitcoin ATM Fees for it.
Now, selecting a very few, like five Cryptocurrencies, is difficult. So, if you want to know about the five selected Cryptocurrencies, this article will help you.
5 Cryptocurrencies That You Can Explore
The innovative Blockchain technology has offered us to directly make payments to whoever we please without any third party interfering. The decentralized functionality of Cryptocurrencies is amazing, but the users have made it an investment option.
Bitcoin, Ethereum, Dogecoin are now among the best Cryptocurrencies that offer great value for investors. So, here are some Cryptocurrencies that are worth knowing about and worth the investment.
Bitcoin (BTC)
Bitcoin is the pioneer of Cryptocurrency that arose in 2009. An individual or anonymous group called Satoshi Nakamoto is behind the creation of Bitcoin.
Bitcoin is the original Cryptocurrency that uses Blockchain technology, a database used to keep transaction records in a shared network of thousands of computers.
Blockchain technology makes Cryptocurrency a decentralized payment method. The network is highly encrypted and is immune to theft and fraud.
Bitcoin has grown tremendously in value within the last few years. Five years ago, one could buy bitcoin for $500. As of November 2021, Bitcoin has touched $65000 for each coin. Bitcoin has a market cap of $1.17 trillion.
Ethereum (ETH)
Bitcoin ranks number one in the Cryptocurrency market cap ranking, and it also has the highest value in the market. However, Ethereum stands right behind Bitcoin at the second spot.
Ethereum is a favorite to many program developers because of its smart contract and dApps (decentralized applications). ETH has more use cases than Bitcoin, apart from it being an investment option.
The value of ETH has grown exponentially over the years. It used to have a price of around $11 five years ago; now, the value of Ethereum is $4258 in November 2021. The market cap of Ethereum exceeds 4520 billion.
Cardano
Charles Hoskinson, an initial co-founder of Ethereum, created Cardano. Cardano is a Proof-of-stake cryptocurrency developed by mathematicians, engineers, and cryptographers.
Extensive experiments and peer-reviewed research went into making the Cardano Blockchain. As a result, there are over ninety research papers of Cardano that the realtors wrote to create the backbone of the Cardano Blockchain.
The token of Cardano is ADA. The creators borrowed this name from a mathematical genius named Ada Lovelace. Like Ethereum, Cardano also allows smart contracts and dApps, and ADA is the token to power these features of Cardano. Currently, Cardano has a market cap of $66 billion. The value of ADA is $1.83.
Dogecoin
Unlike Ethereum, Cardano Dogecoin has no sp[ecific application or use cases. It also does not have a crazy value like Bitcoin, But it is “fun.” Dogecoin grew as a fan-centric meme Cryptocurrency. In 2013 Dogecoin came into the market with a funny Doge as its mascot.
Cryptocurrency has a very active fanbase that promotes Dogecoin and keeps campaigning about Dogecoin. Dogecoin also has famous supporters like Elon Musk. The SpaceX CEO has made frequent Tweets about Dogecoin to promote it. He even went to the length of calling himself ‘Dogefather”.
Dogecoin has grown incredibly since 2013, and it has no market cap. The unlimited market cap makes Dogecoin susceptible to being devalued in the future. Dogecoin had a value of $0.0002 in 2017. Now it costs around $0.29 in 2021.
Polkadot
Like Ethereum and Cardano, Polkadot also is a proof-of-stake Cryptocurrency. Polkadot has a great feature; it offers interoperability among different blockchains.
Cryptocurrencies may use different numbers of Blockchains. Polkadot aims to integrate and interconnect different blockchains to facilitate interoperability among different Cryptocurrencies.
The developers can create decentralized applications using Polkadot, but they can also create their own Blockchains using Polkadot. Polkadot allows developers to use its security in their own Blockchains.
This idea is new in the cryptocurrency world. It may change how the users utilize Cryptocurrencies. Polkadot Has grown in value after its launch in 2020. The growth of Polkadot was 1,400% in a year. It grew from $2.93 to $44.19 within one year.
Conclusion
Many investors are profiting from Cryptocurrency trading. Crypto arbitrage is now a quick method to earn some extra. Some are even using Bitcoin faucets like moon bitcoin cash to earn more. Bitcoin, Shiba Inu, Tether, and some other Cryptocurrencies alike, have constant investors.
You can invest in Cryptocurrencies if you want, But you must research to have an initial knowledge before investing in any Cryptocurrency.
