The top 5 types of Cryptocurrencies
The year 2009 marked the beginning of the cryptocurrency era, starting with the first of them all, Bitcoin. From that date until today, competitors called altcoins to continue to be added.
To the point that to date there are more than 3000 different types of digital currencies in the market, which offer us different things and it is important to taste which are the most popular types of cryptocurrencies and which are vital to know before investing.
Below, we present the ones that are considered to be the main cryptocurrencies:
- Bitcoin
Bitcoin was created in 2009 by an anonymous personality under the pseudonym Satoshi Nakamoto.
Its main goal was to be used as a payment method that is not affected by government oversight, transfer delays, or transaction fees.
Currently, its use is mainly as a form of investment, but its high volatility prevents it from being a legal alternative to fiat money.
- Ethereum
Its chain enables it to generate applications based on blockchain technology, as well as its tokens.
Ether takes care of granting the primary fuel to process the network’s decentralized applications. And, transaction prices are calculated based on their difficulty, bandwidth, and storage.
It is considered the most important after bitcoin, plus the implementation of smart contracts is what put it here.
In its network is where we can find most of the NFTs.
- Dogecoin
Currently, 128.2 billion DOGE are in transit, and each coin is divided into 100,000,000 decimal places. The virtue of this cryptocurrency is that it is cheap because one coin costs only $0.05037. Dogecoin mining rewards have decreased from $1,000,000 to $10,000.
- Cardano
Every single transaction is persistently, securely, and transparently recorded on the Cardano blockchain. Each ADA stored in the digital wallet can be ordered in the pool or hypothecated to the same pool to increase the possibility of earning rewards.
One of its attractions is that anyone who owns Cardano owns shares in its network, plus this blockchain is considered scientific and one of the most eco-friendly out there.
- Litecoin
The Litecoin virtual currency is an open-source peer-to-peer currency. This means that Litecoin’s source code is public and anyone can access it. It is an open-source, fully decentralized, universal payment network and an administrator-free transaction system.
It is a project that has stood out for its transparency in the function of each of its stages.
Conclusion:
We remind you that in no way this top is this an investment recommendation, it is up to each one to do their research and never invest money that we can not allow ourselves to lose.
This top is to publicize the cryptocurrencies that are considered the most important for what they have brought to this decentralized world and because their projects have stood out.
