From Bitcoin and Binance Coin and Ethereum and Tether, there are thousands of different cryptos, making it overwhelming when you’re first getting started in the world of crypto. To help better, those are top 5 cryptos to based on their value currently in circulation and or on their market capitalization.
What Are Cryptocurrencies?
A cryptocurrency is a digital asset or currency that is based on blockchain technology and can circulate without the centralized authority of a bank or government.
1. Bitcoin (BTC) • Market cap: $ 670.6 billion Bitcoin created in 2009 by Satoshi Nakamoto, is the world's first crypto as well as the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers.
2. Ethereum (ETH) • Market cap: $216.8 billion Ethereum is both crypto and blockchain platform, Ethereum is liked by most program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
3. Tether (USDT) • Market cap: $84.6 billion Unlike some other forms of cryptocurrencies, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations.
4. Binance Coin (BNB) • Market cap: $34.5 billion Binance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform.
5. XRP (XRP) • Market cap: $32.3 billion Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.
The information provided in this article is for educational purposes only.