Cryptocurrencies have become a huge phenomenon and this has led to the emergence of hundreds of this new type of asset. It all started in 2009 when the Bitcoin got decentralized. People saw many different opportunities because of this digital currency, they saw its potential and despite the slow start, the last two years have led to the huge growth of the industry.
A proof of that is not just the number of cryptocurrencies known today. We clearly see the rapid increase in the value of the top assets. This is because people saw their potential and nowadays consider them as a way to store and gain value.
Satoshi Nakamoto & The Revolution
Bitcoin was released as a global peer-to-peer payment system using electronic cash. It was conceived and developed by a person or a group of people behind the pseudonym Satoshi Nakamoto. Even now, 9 years later, it is still unknown who this person or people are, one of the biggest mysteries of the industry is yet to be unraveled.
Ever since 2009, the list of cryptocurrencies has been growing continuously. This is mainly because of how cryptocurrency works and the blockchain technology it uses. Many start-up tech companies have decided to develop their own blockchain networks because this is an exciting new tech and have released their own currencies with that.
Today, given the fact that the cryptocurrency list is endless, the coins are known as Bitcoin and Altcoins. The latter is a cumulative name for all other cryptocurrencies released after the industry’s leading name. These include well-known names such as Ethereum, Litecoin, and Ripple, as well as the Bitcoin Cash, which is a hard-fork of the original Bitcoin.
Altcoins & Bitcoin Value
Cryptocurrencies have a value for a multitude of reasons. First and foremost, there’s the fact that the supply of the units is limited. Supply and demand are the two driving forces behind world economy today. They are the main defining factors for price formation.
Supply & Demand
Basic economic theory tells us that when the supply of a good is higher than its demand, the price will go down and vice versa. If the demand for a good is higher than the available supply, the price will rise. Given that the supply of cryptocurrencies is limited and fixed as a number, they can be classified as rare goods. And the high demand for them is defining for the increase in value.
Another defining factor for the value of the cryptocurrencies is the amount of resources required for the process of mining. If you are wondering what is cryptocurrency mining, this is the process which leads to the creation of additional units of a currency, releasing them into the circulating supply.
Last but not least, is the faith and trust people put in these assets. If they view them as lucrative and useful, they add to the value. People start buying cryptocurrencies and holding them as long-term investments. This increases the demand for them, leading to a rise in the price.
There are websites where you can see a list of cryptocurrencies by market cap, depending on the circulating supply and current price. Of course, the undisputed leader when comparing cryptocurrencies by market capitalization is Bitcoin.
Top Cryptocurrencies List
A reliable cryptocurrencies list will feature Bitcoin and all other Altcoins classified by a number of factors. These usually include market capitalization, price per unit, volume in circulation, as well as the movements which the price of the coin has made in the last 24 hours.
Something that has characterized the whole industry is the volatility of the prices. Because cryptocurrencies are decentralized systems which are not subjected to governmental regulation of financial authority monitoring their prices can greatly vary from one minute to the other. Still, there are five distinguished leaders by market capitalization that have stayed on top of the cryptocurrency list for a long time.
- Bitcoin (BTC) – as we mentioned, the Bitcoin is the unmatched leader of the industry in terms of market cap. Even though its price is now very high, many people are interested in possessing and trading with it. It can be traded against both fiat money like the US Dollar and Altcoins, predominantly Ethereum and Litecoin. It is also one of the leading cryptocurrencies featured in the portfolios of investment platforms and trading systems. You can find it on the major cryptocurrency exchange sites and buy and sell it directly.
- Ethereum (ETH) – the Ether is the cryptocurrency that is generated on the Ethereum open-source, blockchain platform. It was initially released in 2015 and in 2016 underwent a hard fork, leading to the creation of the Ethereum Classic (ETC). ETH is still the leading currency and more popular token, traded on the biggest cryptocurrency exchanges, offered on investment platforms and systems, and accepted as a payment method when buying Bitcoin or other cryptocurrencies.
- Ripple (XRP) – the cryptocurrency of the network is known as ripples and denoted as XRP. It has been released in 2012 and is different from the traditional Bitcoin-like systems. For the release of new units, it does not rely on mining on the blockchain like its immediate competitors but rather on consensus among the members of the network. This is how transactions are verified. Its popularity is also determined by the fact that the infrastructure of Ripple is used by big companies and corporations like UniCredit and UBS.
- Bitcoin Cash (BCH) – this cryptocurrency is a hard fork of the original Bitcoin. That is why it entered the cryptocurrency list on such a leading place. It holds a stable position ever since it was released and many people have chosen it for their investment intentions.
These four cryptocurrencies are just the tip of the industry iceberg. It continues its rapid expansion and we are far from seeing it lose its momentum.
Best Cryptocurrency to Invest from the List
Given the number of cryptocurrencies there are, almost each running on a slightly different network with its own specifications and additional features, advantages, and characteristics, it is very hard to make the claim that there is one single cryptocurrency that is best to invest in.
When choosing your preferred crypto investment, there are numerous things you need to consider. Are you going to hold the asset as a long-term investment or you’re going to sell it almost immediately, what do you seek from it – stability or higher returns, and many more. Make sure you understand the basics of cryptocurrency trading as well when becoming a part of this industry.
Currently, there are dozens of investment solutions that have been proven to work and have been developed to be user-friendly. You can choose investment brokers and even auto-trading systems in order to trade cryptocurrencies like Bitcoin and Ethereum. Trading is big now because it provides an alternative way to participate and posses such assets.
So all you have to do is find the cryptocurrency or a number of crypto assets that answer to your desires, expectations, and trading ambitions, and build your portfolio around them. Once you gain a stable foundation to build on, you can always expand it if you find something of more interest to you. Just make sure you are using the right tools, proven to be legit and working.
Find the BEST Crypto Tool
Investment solutions get released every day. But that does not mean each is good for your trading ambitions. You need secure and proven to work platforms if you want good returns on your investments. We have found the best among the best and we strongly recommend them. Visit the industry leader if you are eager to start trading.
To start making investments, do the following:
1. Go to the Official Website of the Platform
2. Complete the Sign-up Process
3. Start Trading