Cryptocurrency has wrapped the world in a short period. It is a digital payment method that has the potential to renovate the whole idea of carrying cash. Today anyone can invest in crypto a few simple sign-ups, blow your card details and one is all ready to trade in money for digital currency. It is the only piece of tech which promises security over the internet to date. These digital currencies offer multiple advantages if compared to the traditional method like transparency, lower speed, and transaction speed.
Without knowing the numerous participants currently operating within the market it would be an incomplete exploration of cryptocurrency and blockchain technology. The oftentimes heard are Bitcoin, Ripple, and Bitcoin cash, but there are more than thousands of cryptocurrencies prevailing. This statistic git hike in July 2017, when the various new firm entered this market for trade.
Here are the top 5 performing cryptocurrencies:
Bitcoin - The oldest cryptocurrency and known as the king of cryptocurrencies. It has the highest liquidity. It is the most used to date.
Ethereum - This is the most crucial after bitcoin. It stimulates thousands of ventures to develop. This got popular in 2017 when it's price rose from 10 dollars to 900 dollars. This allows us to create tokens and implement smart contracts.
Ripple - This stands third in the ranking of cryptocurrencies. This is mainly acquainted with large organizations than smaller users. It has collaborated with large banks around the world.
Litecoin - This is highly considered for its liquidity and large-cap market. This is suitable if one wants to avoid risk and stay away from the small-cap market.
BAT (Basic Attention token) - it is used to tip content creators or anyone found helpful on the internet. It is one of the most desirable cryptocurrencies since 2018.
The most significant one among the above list is Ethereum after Bitcoins. Ethereum is very convenient as it enables multiple projects. It is easy to use for new users. The strength of this currency is directly proportional to the potential of its network. Most importantly it can execute smart contracts. With the additional facility of no amount barrier, liquidity, transparency of transaction, diversification, and lower fees.
