Cryptocurrency list : all the cryptocurrency tokens you must know!
The term cryptocurrency has been on all lips for the past few years – and unsurprisingly so. As one can see from just a glance at any cryptocurrency list which ranks them by market capitalization, the cryptocurrency market has exploded over the course of the last couple of years. But what is it which drives an increasing number of people to buy cryptocurrency? In order to understand the appeal of these digital assets, one has to grasp their numerous advantages. To put it simply, a cryptocurrency is a virtual currency which allows users to make secure transactions, for this type of digital asset is designed to be used as a means of exchange. In order to secure the transactions made with any cryptocurrency as well as verify the transfer of funds and control the creation of additional units, encryption techniques called cryptography are employed. What makes cryptos so special in comparison to central banking systems and centralized digital currencies is that they use decentralized control. This means their supply and value is controlled by the activities of their users and by the protocols built into their governing codes rather than the deliberate decisions of central banks.
Towards the end of 2017 especially, this boom market led cryptocurrency prices to reach record high levels. The renowned Bitcoin for example, pioneer of the blockchain and on top of the cryptocurrency ranking reached a staggering $19,783.06! It is however not the only game in town – there is an overwhelming number of cryptocurrencies out there, with new ones springing into being every month. While it is true cryptocurrency prices have dropped in the last year, this market remains interesting for online investments for it is very volatile, just like the unprecedented 2017 boom demonstrates. Keep reading to learn everything you need to know about cryptocurrency trading!
Cryptocurrency market: the Top cyptocurrency list to invest in 2019
If you are new to cryptocurrency, this is a great starting point. In our cryptocurrency list, we will over the main 3 cryptocurrencies in town.
Initially released as an open source software back in 2009, Bitcoin is often regarded as the very first crypto, which is one of the reasons why it ranks first in our digital currency list. Created by Satoshi Nakamoto, a pseudonymous software developer, Bitcoin is best defined as a digital currency with a decentralized platform, meaning not only does it exist solely electronically, but transactions are made with no go-between. The idea behind it was to create a digital currency which could be transferred electronically in a both a secure and verifiable way, independent of any central authority. As a matter of fact, there is no government or central bank which controls the bitcoin network and the amount of the latter in circulation. How does Bitcoin work then? Since there is no political institution to print new currency, Bitcoin’s programming – the blockchain – is responsible for when bitcoins are to be made and most importantly how many should be produced. In addition to this, it also keeps an eye on where Bitcoins are and ensures transactions are valid. Yet out of all cryptocurrency, how does Bitcoin make it on top of every Top cryptocurrency list? Aside from being decentralized, another aspect of Bitcoin which makes it differ from fiat currencies is that there is a limited supply of them. The underlying algorithm of bitcoin controls the number of tokens which are produced and will keep doing so until 21 million new Bitcoin are in circulation. This is what makes it a popular asset- theoretically, if demand increases and supply remains the same, it’s value will surge. In December 2017, Bitcoin reached it’s record high price at $19,783.06.
Released in 2012, Ripple (XRP) was created by Ripple Labs Inc. It is both a digital currency and an open payment network in which this crypto is transferred. XRP is the token which represents value across the RippleNet. The aim of this platform is to improve the speed of international banking transactions and that at very low cost. If you have ever sent money internationally, you will know it can take up to 5 business days for the transaction to clear- and all this at outrageous cost, for as you may know, it is common for financial institutions to charge customers a transaction fee. With Ripple, transactions are carried out in just 4 seconds, whilst Bitcoin can take up to an hour if not more. The original goal of Ripple is to act as an everyday means of payment, and unlike several other cryptos it is not in direct competition with fiat currencies but more of a link between them during cross-border transactions. Moreover, Ripple is supported by several banks such as Union Credit, NBAD and Axis Bank and the more banks use it as their transaction platform, the more the value of XRP increases! It is also noteworthy that there is no inflation with this cryptocurrency for all the tokens were initially mined. Towards the start of 2019, the cryptocurrency market capitalization of XRP stood at $15,130,140,419.
When people think about blockchain, the first thing which may come to their mind is Bitcoin, however there are many more applications of blockchain technology, many of which go beyond all cryptocurrency. Released in 2015, Ethereum is the perfect example of this- which is why it has made it in our digital currency list. To put it simply, Ethereum is a public open software platform based on blockchain technology which runs smart contracts. This decentralized platform uses a peer to peer approach and its main goal is to allow users to create and deploy decentralized applications on its blockchain. In order for smart contracts to be executed, they require certain computational resources which must be paid for in some form or another- in this case, Ether acts like the crypto-fuel which allows them to run. Smart contracts can be described as self-operating computer program which will execute automatically when it meets the required conditions. What makes Ethereum differ from its counterparts is that all blockchains can process code, however the vast majority are quite limited. Smart contracts however run on the blockchain specifically as programmed without any third-party interference, fraud or censorship. Developers can then build as many applications as they wish – yet they are pushed to write quality applications, for individuals using such decentralized apps on the platform will have to pay Ethereum in Ether for the services it provides, and the developers will in turn be paid with this crypto. Unlike Bitcoin, the total supply of ether is not capped. An initial 60 million Ether were issued during its launch, and at this point in time no more than an additional 18 million can be issues each year. On the 13th January 2018, the price of Ethereum reached an all-time high of $2,235.79.
Where and how to create one’s cryptocurrency wallet?
If you are new to cryptocurrency trading, let us first define this term. Cryptocurrency exchange basically involves trading one crypto for another, buying and selling coins. One can also invest in cryptocurrencies using CFDs (Contracts for Difference). The latter allow traders to take a position on various financial instruments like the price of Bitcoin for example without having to buy cryptocurrency. All you have to do is pick the asset of your choice and open a position after having adjusted the parameters to suit your needs and wants on the cryptocurrency trading platform of your choice. Investing in cryptocurrencies using either of the methods mentioned above is a good alternative for those who want to get involved in crypto trading without having to mine themselves. In the past few years, CFDs have gained immense popularity amongst traders interested in cryptocurrency stocks, for you can also invest in the possibility of prices going down, meaning you can profit from prices going either up or down depending on the position you open which is not the case for traditional cryptocurrency exchange. However before investing one’s money in CFDs it is essential for them to find a trusted and reliable online broker with the right tools. Since its creation in 2006, eToro has built a strong community of over 10 million users throughout the world. Founded just a few years before Bitcoin, they were some of the first to recognise the potential of cryptocurrencies. After launching its iOS and Android cryptocurrency wallet in Europe in November 2018, this eToro launched its cryptocurrency trading services in the US back in March 2019 – now users from 32 states can trade a variety of assets, including the ones mentioned in our Top cryptocurrency list. As a matter of fact, the highly-secure eToro cryptocurrency wallet which provides multi-coin support has already seduced thousands of users worldwide. No cryptocurrency trading platform is more user friendly!
Cryptocurrency news : Keeping up to date with crypto news
Following cryptocurrency news is essential to our team, for it is plays an essential role in enabling on to predict how cryptocurrency values will evolve. We continuously seek all the information we can find about crypto assets and about the development of cryptocurrency rates and update our digital currency ranking accordingly. We also pay special attention to the arrival of new cryptocurrencies, such as Facebook’s effort the launch a stable coin, to new partnerships which may have a direct impact on token prices, to emerging projects on existing blockchains – anything which could impact our cryptocurrency list.