The crypto world has skyrocketed into a billion dollar industry. Many people are
shifting to a mode of decentralized finance for safety and for the integrity of their
data. While new cryptocurrencies are being launched every day, it is important to
know that not all coins make for good investment decisions. Here are the top
most popular, more established cryptocurrencies that you could consider trading:
BITCOIN (BTC)
Bitcoin was first launched in 2008. The invention of Bitcoin has sparked many
debates about money, investing, and technology. Bitcoin was the first ever true
cryptocurrency, and the first ever digital currency to operate on blockchain
technology. It is also now the most popular cryptocurrency and the largest coin in
terms of market cap.
Some people see it as a highly volatile assets, and primarily a speculation vehicle.
Other people see it as worthy investment and long-term store of value. However,
the true bitcoin enthusiasts see it as a pure technological innovation, with the
ability to revolutionise the current monetary system, and the way we handle our
finances.
ETHEREUM (ETH)
Ether is another cryptocurrency that was launched in 2015, on the Ethereum
network. However, it was created to serve a very different purpose compared to
Bitcoin. Ethereum is an open-source blockchain with smart contract functionality.
What this means is that Ethereum was intended to act as a medium of exchange
and where you could build and run applications on the blockchain.
Ethereum is quickly gaining popularity in the crypto world and is expected to be
as popular as Bitcoin soon. This is mainly because it provides lots of great facilities
to its coin holders. And unlike Bitcoin, which was launched with no help from the
outside, Ethereum is also a completely crowdfunded project and has a large fan
following who monitor it.
TETHER (USDT)
Tether is one of the very first stablecoins that were ever created. A stablecoin is a
cryptocurrency that has its value pegged to a certain currency. In this case, Tether
is pegged to the US dollar. The stablecoin concept was first introduced in 2012 as a
protocol layer for Bitcoin. Tether was later launched in 2014 and is now the most
successful stablecoin in the industry.
Over the years, this coin has faced some controversy as one token was supposed
to be worth $1 at all times. However, Tether revealed that this is not always the
case. There was also an alleged hacking in 2017 that costed them over $31 million
worth of tokens. They have since recovered from these hiccups and have become
the most popular stablecoin.
FINAL VERDICT
In the past year alone, the crypto world has faced the biggest growth it has ever
seen. Countless new coins are being created every day though many become
unsuccessful after launch. It may be confusing for a beginner to understand what
cryptocurrencies are good for trading so it’s always better to stay on the safe side
by sticking to Bitcoin, Ethereum, and Tether.