The World's Most Important Cryptocurrencies
Cryptocurrencies have become a very popular means of the transaction on the internet. Yet, many people are still not familiar with its features and most popular types. Cryptocurrencies are ways to transfer money on the internet, by using cryptographical functions to protect the transaction. What’s most important about cryptocurrencies is the fact that they are not dependent on the local government policies so they possess a kind of protection from those rules and regulations. So, let’s go through the list of the world’s most important cryptocurrencies you should consider if you plan some kind of internet payment or investment.
Looking at the history of cryptocurrency, the phenomenon has started back in the 1990s. Since then, many types have been developed, providing more and more security to its users. The way cryptocurrencies work is that you can easily send them to another individual by using safety keys. Another advantage is that transfer fees are much lower than the ‘regular’ payment transactions.
The world’s important cryptocurrencies
BTC – Bitcoin
Probably the most popular and the world’s most important cryptocurrencies nowadays. It was created as the first cryptocurrency ever – by an anonymous creator. However, he/she is known by the pseudonym, Satoshi Nakamoto. There are many different assumptions of who that might be. Some consider that multiple companies created Bitcoin, like Samsung, Toshiba, Nakamichi and Motorola – which explains the name. However, some other computer scientists are believed to be the creators of Bitcoin.
Bitcoin uses distributed ledger technology called blockchain. Electronic payments have been so easy since they don’t need to be delayed by going through banks and other financial institutions. The oldest cryptocurrency in the world draws a huge community of investors and many big companies accept Bitcoin payments. Even though there are some risks of using Bitcoin, it is still one of the most popular cryptocurrencies there is.
BCH -Bitcoin cash
Long after Bitcoin was created, some developers created a hard fork, which would later develop into a new currency – Bitcoin Cash. It serves to make the verification process faster and easier, with the block size of 8mb. The number of 17.2 million BCH come with a value of $843 per coin.
XRP – Ripple
This is one of the world’s most important cryptocurrencies because it deals with International Payment Transfers. The main reason why this cryptocurrency was created back in 2018 is to make it easy to send and receive payments internationally. Another advantage – international payments are completed in seconds, rather than in a couple of days, as in traditional payment methods. An interesting fact about Ripple is half of the whole amount of XRP is held by the company itself – 50 billion XRP.
Ether – Ethereum
Another popular cryptocurrency in the world, Ethereum is also run by blockchain technology, like Bitcoin. It’s very popular for building smart contracts and launching the Initial Coin Offerings (ICOs). One of the negative sides is that it uses Proof-to Work mechanism, which demands a lot of electricity and slows the process down. However, the developers are trying to solve this problem – like with Bitcoin, as well.
Eos is one of the youngest and also the world’s most important cryptocurrencies nowadays. Even though it’s only ‘a toddler’ in the cryptocurrency world, it provides a platform which developers can use to build decentralized apps. It counts around 900 million tokens that are worth around $7.83 billion
Litecoin is one of the older currencies, created just after Bitcoin. It’s one of the world’s most important cryptocurrencies because it’s faster than Bitcoin and has a larger number of tokens. More currencies were developed from the same codebase, like Dogecoin, Feathercoin, etc.
TRX – Tron
TRX appeared as a decentralized Tron project. Its general aim is to provide a transfer platform for the entertainment industry users. Even though it is quite a young project, it is becoming more and more popular.
Formerly known as AntShares, Neo was created in 2014, in China. It’s the largest cryptocurrency it is native country, and one of the world’s most important cryptocurrencies. Its coins’ value jumped quickly in just one year – from $0.16 perc to $162. Why it is so successful – because its programming ways support many coding languages, which makes it easy to use.
ZEC – Zcash
Zcash developers describe this cryptocurrency as HTTPS, compared to bitcoin being like HTTP. The reason why it is so popular is that it provides a high level of security, making the transaction details private and content encrypted by using a safe encryption technique. The token value is $69.40 at the moment.
How to pick the best cryptocurrency for your investment?
As we can see, there are many examples of the world’s most important cryptocurrencies. Therefore, it makes it hard for beginners to make a decision and choose the best one for their investments. Also, the whole process of buying and storing the coins may be confusing, so be sure to make the safe and slow steps, and be careful with your purchase.
To buy coins, you’ll need an exchange site, where you can easily trade your credit card cash for coins. Next, you need to find a way to store them safely, especially if you are keeping them for a long time. Instead of storing them in an online wallet or exchange, you can use cold storage options like pc wallet, hardware wallet, paper wallet, etc. Some of them are online and some are offline (like a paper wallet), and it’s up to you to choose. Whatever the safety technique you choose, be sure to use it correctly so you can protect your investment.