– Top 10 Cryptocurrency –
The cryptocurrency market is seen to be continuously growing and proofing off as a profitable venture to dive into, with Bitcoin topping the list. However, there are other valuables cryptocurrencies that you should consider.
This article contains the top 10 cryptocurrency that are as good as Bitcoin that is worth jumping into now.
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What Are Cryptocurrencies?
A cryptocurrency, broadly defined, is virtual or digital money that takes the form of tokens or “coins.”
Though some cryptocurrencies have ventured into the physical world with credit cards or other projects, the large majority remain entirely intangible.
The “crypto” in cryptocurrencies refers to complicated cryptography that allows for the creation and processing of digital currencies and their transactions across decentralized systems.
Alongside this important “crypto” feature is a common commitment to decentralization.
Teams who build in mechanisms for issuance (typically develop as code cryptocurrenciesoften, although not always, through a process called mining) and other controls.
Mode of Cryptocurrencies
Cryptocurrencies are almost always designed to be free from government manipulation and control.
Although, as they have grown more popular, this foundational aspect of the industry has come under fire.
The cryptocurrencies modeled after Bitcoin are collectively called altcoins, and in some cases, shitcoins, and have often tried to present themselves as modified or improved versions of Bitcoin.
Though some of these currencies may have some impressive features that Bitcoin does not, matching the level of security that Bitcoin’s networks achieve largely has yet to be seen by an altcoin.
Top 10 Best Cryptocurrency to Invest Today
1. Bitcoin (BTC) – Market cap: Over $846 billion
As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers.
Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy a Bitcoin for about $500. As of March 1, 2022, a single Bitcoin’s price was over $44,000. That’s growth of about 7,800%.
2. Ethereum (ETH) – Market cap: Over $361 billion
Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs).
Ethereum has also experienced tremendous growth. From April 2016 to the beginning of March 2022, its price went from about $11 to over $3,000, increasing more than 27,000%. This is also one of the top 10 crytocurrency.
3. Tether (USDT) – Market cap: Over $79 billion
This is also one of the top 10 crytocurrency. Unlike some other forms of cryptocurrency, Tether 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.
In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
4. Binance Coin (BNB) – Market cap: Over $68 billion
Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform.
Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
BNB’s price in 2017 was just $0.10. By the beginning of March 2022, its price had risen to around $413, a gain of approximately 410,000%.
5. U.S. Dollar Coin (USDC) – Market cap: Over $53 billion
Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio.
USDC is powered by Ethereum, and you can use USD Coin to complete global transactions. This is also one of the top 10 crytocurrency.
6. XRP (XRP) – Market cap: Over $37 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.
At the beginning of 2017, the price of XRP was $0.006. As of March 2022, its price reached $0.80, equal to a rise of more than 12,600%. This is also one of the top 10 crytocurrency.
7. Terra (LUNA) – Market cap: Over $34 billion
This is also one of the top 10 crytocurrency. Terra is a blockchain payment platform for stablecoins that relies on keeping a balance between two types of cryptocurrencies.
Terra-backed stablecoins, such as TerraUSD, are tied to the value of physical currencies. Their counterweight, Luna, powers the Terra platform and is used to mint more Terra stablecoins.
Terra stablecoins and Luna work in concert according to supply and demand.
When a stablecoin’s price rises above its tied currency’s value, users are incentivized to burn their Luna to create more of that Terra stablecoin.
Likewise, when its value falls compared to its base currency, this encourages users to burn their Terra stablecoins to mint more Luna. As adoption of the Terra platforms grows, so too does the value of Luna.
From Jan. 3, 2021, when its price was $0.64, to the beginning of March 2022, Luna has risen over 14,200% to $92.
8. Cardano (ADA) – Market cap: Over $33 billion
This is also one of the top 10 crytocurrency. Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation.
This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin.
Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin.
Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2017, ADA’s price was $0.02. As of March 1, 2022, its price was $0.99.
This is an increase of 4,850%.
9. Solana (SOL) – Market cap: Over $33 billion
This is also one of the top 10 crytocurrency. Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts.
Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform.
When it launched in 2020, SOL’s price started at $0.77. By March 1, 2022, its price was around $101, a gain of nearly 13,000%.
10. Avalanche (AVAX) – Market cap: Over $22 billion
This is also one of the top 10 crytocurrency. Similar to Ethereum and Cardano, Avalanche provides blockchain software that can create and execute smart contracts powered by a native token (in this case, AVAX).
Since its launch in 2020, Avalanche has rapidly grown, thanks in no small part to its comparatively low gas fees and fast transaction processing speeds.
From July 12, 2020, to March 1, 2022, AVAX’s price has risen more than 1,840%, from $4.63 to $89.84.
*Market caps and pricing current as of March 1, 2022.
5 More Valuable Cryptocurrency
11. Polkadot (DOT)
Polkadot (DOT) is a unique PoS cryptocurrency aimed at delivering interoperability among other blockchains.
Its protocol is designed to connect permissioned and permissionless blockchains as well as oracles to allow systems to work together under one roof.
Polkadot’s core component is its relay chain, which allows the interoperability of varying networks. It also allows for parachains, or parallel blockchains with their own native tokens for specific-use cases.
Where Polkadot differs from Ethereum is that rather than creating just dApps on Polkadot, developers can create their own blockchain while also using the security that Polkadot’s chain already has.
With Ethereum, developers can create new blockchains but need to create their own security measures.
Which can leave new and smaller projects open to attack because the larger a blockchain, the more security it has.
This concept in Polkadot is known as shared security.
12. Stellar (XLM)
This is also one of the top 10 crytocurrency. Stellar (XLM) is an open blockchain network designed to provide enterprise solutions by connecting financial institutions for the purpose of large transactions.
Huge transactions between banks and investment firms can now be made nearly instantaneously with no intermediaries and cost little to nothing for those making the transaction.
Though Stellar has positioned itself as an enterprise blockchain for institutional transactions, it is still an open blockchain that anyone can use.
The system allows for cross-border transactions among any currency. Stellar’s native currency is Lumens (XLM). The network requires users to hold Lumens to be able to transact on the network.
This is also one of the top 10 crytocurrency.
13. Dogecoin (DOGE)
This is also one of the top 10 crytocurrency. Dogecoin (DOGE), seen by some as the original “memecoin,” caused a stir in 2021 as the price of the coin skyrocketed.
Some major companies accept as a form of payment the coin, which uses an image of the Shiba Inu as its avatar,.
Including the Dallas Mavericks, Kronos, and—perhaps most notably—SpaceX, an American aerospace manufacturer owned by Elon Musk.
Two software engineers, Billy Markus and Jackson Palmer created Dogecoin, in 2013. Markus and Palmer reportedly created the coin as a joke, commenting on the wild speculation of the cryptocurrency market.
The price of DOGE hit an all-time high of approximately 0.74 cents during the week when Musk was scheduled to appear on Saturday Night Live.
As of March 14, 2022, Dogecoin’s market capitalization is $15.0 billion and one DOGE is valued at around 11 cents, making it the 13th-largest cryptocurrency. This is also one of the top 10 crytocurrency.
14. Monero (XMR)
Monero XMR is a secure, private, and untraceable currency. This open-source cryptocurrency was launched in April 2014 and soon garnered great interest among the cryptography community and its enthusiasts.
Monero has launched with a strong focus on decentralization and scalability, and it enables complete privacy by using a special technique called “ring signatures.”
With this technique, a group of cryptographic signatures appears, including at least one real participant, but the real one cannot be isolated because they all appear valid.
Because of these exceptional security mechanisms, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world.
Though this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world.
As of March 14, 2022, Monero has a market capitalization of $3.3 billion and a per token value of $181.32.
15. Chainlink (Link)
Chainlink uses a decentralized oracle network to facilitate secure interactions between blockchains and external data feeds, events, and payment methods the developers hope will allow smart contracts to become the dominant form of digital payment, according to CoinMarketCap.
One thing working in Chainlink’s favor is a strategic partnership with Google under which Google uses Chainlink’s protocol to connect users to its cloud services, Benzinga reported.
The project’s advisors include former Alphabet Chairman Eric Schmidt, DocuSign co-founder Tom Gonser, and former LinkedIn CEO Jeff Weiner, according to Securities.io.
This is also one of the top 10 crytocurrency.
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Six Cryptocurrency Tips
If you want to invest in cryptocurrencies, here are six tips:
1. Have a Strategy for Crypto Trading
It isn’t easy to separate genuine cryptocurrency recommendations from scams; there are lots of sharks out there waiting to take your money.
Reports of crypto investment scams surged to 7,118 in the first nine months of 2021. This was up 30% on the whole of 2020, according to Action Fraud, with the average loss per victim at £20,500.
So when you’re confronted with a lot of information about a cryptocurrency, take a step back from the hype.
Try to look critically at the project or platform.
How many users does it have? What problem does it solve? Avoid coins that promise the Earth but haven’t delivered anything tangible.
2. Manage Risk
Some people offering crypto trading tips might not have your best interests at heart. So don’t get stung making the same mistakes as others.
Set limits on how much you invest in a particular digital currency and don’t be tempted to trade with more money than you can afford to lose.
Cryptocurrency trading is a high-risk business and more traders lose money than don’t.
3. Diversify your Crypto Portfolio
It doesn’t pay to have too much invested in one single cryptocurrency. Or as they say: don’t put all your eggs in one basket. As with stocks and shares, spread your money out among different digital currencies.
This means you don’t risk being over-exposed should one of them plummet in value–especially as the market prices of these investments are highly volatile.
4. Be in it for the Long Term
Prices can rise and fall quite dramatically day to day, and novice traders are often duped into panic selling when prices are low.
Cryptocurrencies are not going to go away. Leaving your money in the crypto market for months or years at a time could offer you the best rewards.
5. Automate Purchases
Most cryptocurrency exchanges, including Coinbase and Gemini, allow you to set up recurring buys.
This is where crypto investors tell the platform to purchase a fixed amount of their preferred cryptocurrency every month–for example, £100 worth of bitcoin.
It means they get a bit less of the currency when prices are high, and a little more when prices are low.
That takes the stress out of trying to time the market by either buying a currency at what you think is the lowest possible price or selling at the highest price. It’s something that even market professionals struggle to get right.
6. Use Trading Bots
Trading bots can be useful in some circumstances, but they aren’t recommended for beginners looking for crypto investment tips. Often, they are just scams in disguise.
If a real algorithm existed, that timed your buy and sell trades to perfection, everyone would be using them!
Five Common Crypto Mistakes
The latest research from the UK regulator the Financial Conduct Authority showed that about 2.3m Brits own cryptocurrency in one form or another.
It’s very easy to get caught up in the hype of news headlines. Crypto mistakes are startlingly common, and below we list some of them.
1. Buying Just Because the Price is Low
Low prices do not always represent bargains. Sometimes prices are low for a reason! Watch out for cryptocurrencies with falling user rates.
Often, too, developers leave a project and it stops getting properly updated, making the cryptocurrency insecure.
2. Going ‘All-in’
Some of the more suspect trading platforms suggest you should maximize your money by betting as much as possible. This is a quick way to the poorhouse.
Better crypto investment tips would be to only use a certain proportion of your investing capital — say 5% — and always keep an emergency cash fund in an easy access savings account that never gets invested in the market.
3. Thinking Crypto is ‘Easy Money’
There’s nothing easy about making money through trading any kind of financial asset, whether stocks and shares or commodities like silver and gold.
The same can be said for cryptocurrency. Anyone who says differently is probably trying to trick you into making crypto mistakes.
4. Forgetting your Crypto Keyphrase
If you have a hardware wallet for storing your crypto offline, forgetting your keyphrase is like losing the keys to a bank vault. Without your keyphrase, all your cryptos will be irretrievable.
5. Falling for Scams
Be very wary of crypto deals that sound too good to be true. We outline four common crypto scams you could be careful of:
‣ Cloud Multiplier Scams: Fraudsters sometimes contact victims by email or text with an “investment opportunity”. They promise to give investors double or triple the amount they have put into bitcoin if they send their cryptocurrency to a particular digital wallet.
‣ Pump and Dump: Criminals can easily inflate or deflate the price of very small or unknown cryptocurrencies, sometimes sending the value of these currencies skyrocketing.
They can pump up the price by promoting it on social media, before selling it at a higher price.
‣ Malicious Wallet Software: The best crypto tips will tell you to stick with big-name crypto wallets.
Such as Ledger, Trezor, Exodus, or MetaMask. Dodgy or unknown wallets that you find on Google Play or the App Store can steal your crypto funds with dodgy code.
‣ Fake Coins: With so many cryptocurrencies on the market, it can be difficult to tell what’s real and what’s not. When you invest in fake coins, criminals can steal your identity and often your hard-earned money.
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FAQs About Cryptocurrencies
1. Why Are Cryptocurrencies Important?
As decentralized platforms, blockchain-based cryptocurrencies allow individuals to engage in peer-to-peer financial transactions or enter into contracts.
In either case, there is no need for some trusted third-party intermediary such as a bank, monetary authority, court, or judge. This has the potential to disrupt the existing financial order and democratize finance.
The size of the cryptocurrency space has grown exponentially in the past decade, with new innovations and a collective market capitalization of more than $1.75 trillion.1
2. Why Are There So Many Cryptocurrencies?
The majority of cryptocurrencies today are derived in some form or another from Bitcoin, which uses open-source code and a censorship-resistant architecture.
This means that anybody can copy and tweak the code and create their own new coin. This also means that anybody is free to join its network or transact in it.
3. What Are Some Other Important Cryptocurrencies?
Many cryptocurrencies have gained importance or hold the promise to do so. Dogecoin, for example, was a meme-based joke coin that reached fame when Tesla CEO Elon Musk promoted the token on social media.
4. Why Is Bitcoin Still the Most Important Cryptocurrency?
Despite thousands of competitors that have sprung up, Bitcoin—the original cryptocurrency—remains the dominant player in terms of usage and economic value.
Each coin (BTC) was worth roughly $44,000 as of February 2022, with a market capitalization of more than $830 billion.
Investing in cryptocurrencies and other initial coin offerings (ICOs) is highly risky and speculative, however, if you follow cautiously, you will make reasonable profits from it.
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