Top 8 Popular Cryptocurrencies you can Invest in Today7/28/2020
There are currently thousands of cryptocurrencies, blockchains, tokens, and altcoins accessible in the market for cryptocurrency investors. These are sold in many global exchanges and a lot more are being developed on a day to day basis. With more being developed and born every day.
It is no longer news that Cryptocurrencies are recent times becoming more and more popular with some of them even breaking in into the standard banking system. Many cryptocurrencies have attracted the interest of mainstream financial institutions and a lot of enthusiasts all over the world.
The ideas that some form of digital currency could have the value that these currencies are commanding today are not thought possible in the past but that has become a reality today. Besides Bitcoin, many other altcoins are as well promising and revolutionary and which have gotten wide acceptance and patronage.
The vast number of available cryptocurrencies makes it difficult for investors to know the thriving ones to invest in. We have therefore provided here a list of the promising ones to make the investment decisions easy for interested investors:
Bitcoin currently leads in the cryptocurrency world. It is the first cryptocurrency developed and presently the largest, most popular and useful cryptocurrency. Despite its dominance over other cryptos, market analysts project that the market share of Bitcoin will fall greatly in the coming years.
Bitcoin was launched in 2009 by “Satoshi Nakamoto” in 2009 and has witnessed escalated growth since then. By the end of September 2017, the market cap of bitcoin was already over 77 billion US dollars, with roughly 3 million when 3 million owners of Bitcoins. Bitcoin is at present the most widely accepted cryptocurrency at retail outlets. It is much more preferred by investors, speculators, and traders because it is at present the most available liquid digital currency. Also, you can buy, sell or exchange Bitcoin much more easily than other cryptos. The trading platforms that allow bitcoin trading is more numerous compared to other altcoins.
Bitcoins are generated through the mining process. All bitcoin transactions together with bitcoin mining which generates new bitcoin and all sales and transfers made in Bitcoin are documented in a public ledger.
It was launched in 2011 as a bitcoin fork or offshoot. The operation of Litecoin is almost the same as that of Bitcoin apart from the fact that Litecoin has a faster transaction processing rate. It can presently process a transaction at a speed four times that of the bitcoin network. Litecoin cryptocurrency was created to correct the flaws that currently exist in the bitcoin network like the transaction speed. The network, thus, comes with some perks that make them more improved technology than that of the bitcoin.
Similar to bitcoin, litecoin was designed to be utilized as a peer to peer payment system. It was not meant to function as a token with some specific apps. It was also not created to be a platform for the implementation of a smart contract like the Ethereum network its use, popularity, and value have gone up in recent years.
The price volatility of Litecoin is higher than that of Bitcoin. It is a less acceptable means of payment than bitcoin.
Ethereum was developed in 2015 by a bitcoin programmer who was disappointed with the functionality of bitcoin. It is currently the second next cryptocurrency to bitcoin both in size and market capitalization. Ether is the technical name of the currency used in the Ethereum platform. It is currently accepted by some retail outlets or commercial bodies as means of transactions but the number is significantly less than that of Bitcoin.
Ethereum is one of the most innovative Altcoins and token. It rates the second in the market after the Bitcoin. It has a high market cap and operates with a protocol that varies from that of the Bitcoin in one aspect. Ethereum was launched with the view of developing a crypto platform that will facilitate the creation and implementation of smart contracts. Ethereum Smart contract technology is a feature that makes the platform very attractive. It is widely used in Initial Coin Offerings (ICOs) to generate funds for crypto projects due to this singular feature.
4. XRP (Ripple)
Ripple was launched for public use in 2012 but before the launch, it has been under development for eight good years. The native currency used in the ripple blockchain is also regarded with the same name, ripple. It offers users real-time payment or transfer options, and serve as a currency exchange service platform for financial institutions.
As opposed to Bitcoin and Ethereum, Ripple has more corporate use and backing. Ripple is a decentralized transaction network. The transaction in the ripple blockchain is verified by consensus instead of just directly by the cryptocurrency.
Ripple was created to act as a fast and cost-effective less costly option of carrying out an immediate gross settlement system. Transaction verifications in ripple blockchain are much faster than that of bitcoin or Ethereum.
Ripple is another great and attractive cryptocurrency worth investing in. As opposed to other cryptocurrencies, it was not structured to evade the financial institutions. On the contrary, Ripple was formulated to allow financial institutions including banks to easily and speedily transfer funds internationally than they are currently able to do.
Ripple is in reality intended to work similarly to the present banking order which is managed by Swift. A Swift cross-border transfer is completed within about three to four days for lucky transactions. Ripple uses the Ripple ledger and the Ripple protocol. These make it possible for transactions to be completed only in milliseconds.
It is this huge contrast with Swift that makes it clear to us that Ripple has great potential to change the operation of things in the financial institutions globally.
While many cryptocurrency investors believe that Bitcoin is a private cryptocurrency, that may be a misunderstanding. Bitcoin can be traced by monitoring the blockchain. Therefore, people can view where coins have flowed and the amount of bitcoin a specific address has.
This is an amazing thing that several cryptocurrency users are beginning to realize. The key reason that people chose to use cryptocurrencies is that they want to avoid supervision.
That is why Monero was developed. It is a privately based cryptocurrency that was designed by some of the smartest cryptographers in the globe. It makes use of a revolutionary protocol that utilizes Ring signatures.
This is fundamentally an anonymous technology that is capable of entirely making a transaction completely non-traceable. This includes every form of data like the address of the sender and recipient and as well the amount sent. This makes Monero the best cryptocurrency for an investor who intends to make all the transaction information private.
BitConnect is one of the top cryptocurrencies available currently. It was launched in 2015 as a peer-to-peer fiscal system where users can loan their Bitcoin and make interest daily. BitConnect makes use of a proprietary trading bot that s and sells Bitcoin for profit.
The lent Bitcoin has a hold time and the higher the lent amount, the shorter the discharge time the higher the interest.
Users can make the compound interest of one percent daily. The interest can be reinvested or withdrawn. Users who reinvest their interest see roughly forty percent investment return every month.
7. Bitcoin cash
The largest restraining feature of Bitcoin is its scalability. This means its capacity for growth and is optimized giving the growing network demands and popularity.
Bitcoin transactions are finished when a “block” is added to the blockchain. A full 1Mb Bitcoin block is commonly made up of roughly 2000 transactions which take about ten minutes to process. This is nowhere in comparison to Visa which can handle two thousand transactions in one second.
The Bitcoin team introduced a system upgrade through the implementation of the “Segregated Witness” or “Segwit” network which allows it to participate in the Lightning Network. The upgrade was not well received by a few Bitcoin miners and developers who also had no trust in the “New York Agreement” and that was how Bitcoin Cash becomes established.
The Bitcoin Cash solved the scalability issue by increasing the block size to 8Mb, which makes it possible to process almost eight times Bitcoin’s initial 1Mb limits.
NEM is a peer-to-peer (P2P) digital currency platform. The original discussion about NEM was initiated by a Bitcoin Talk forum user known as UtopianFuture whose aim was to upgrade on the Nxt platform.
Eventually, NEM was created differently from the popular Java programming language. NEM has collaborated Zaif one of Japan’s biggest cryptocurrency exchanges resulting in a partnership with Mijin, a Japanese “private blockchain” powerhouse. This is done to minimize the costs of financial institutional infrastructures to one-tenth.
There are many more cryptocurrencies that you can invest in today. What is best for you to invest in depends on what your investment aim is. However, the list we have provided here is one of the best in the market today. Don’t hesitate to let us know in the comment section if you have more questions.