It can be overwhelming for you when you’re first getting started in the world of crypto after knowing that there are thousands of different cryptocurrencies from Bitcoin, Ethereum to Dogecoin, and Tether. Based on their market capitalization, or the total value of all of the coins currently in circulation, these are the top 5 cryptocurrencies.
There are several fields in which these cryptocurrencies can be used but online gambling is the most popular among all of them. Also, most of them have been adopted by crypto casinos as more and more people are using them for their gambling time. Thus, players choose the cryptocurrencies that are more valuable for them.
The market capital of bitcoin is over $821 billion. Bitcoin (BTC) is the original cryptocurrency that was created in 2009 by someone under the pseudonym Satoshi Nakamoto. BTC runs on a ledger logging transaction distributed across a network of thousands of computers or a blockchain as with most cryptocurrencies. Bitcoin is kept secure and safe from fraudsters because additions to the distributed ledgers must be verified by solving a cryptographic puzzle. Bitcoin has become a household name due to its skyrocketed price. You could buy Bitcoin for about $500 five years ago but now it is over $43,000.
The market capital of Ethereum is over $353 billion. Because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens, Ethereum is a favorite of program developers in both a cryptocurrency and a blockchain platform. Tremendous growth has been experienced by Ethereum also. Increasing more than 27,000%, its price went from about $11 to almost $3,000 in just five years.
The market capital of Tether is over $68 billion. Tether is a stable coin unlike some other forms of cryptocurrency. This means that it hypothetically keeps a value equal to the fiat currencies like U.S. dollars and the Euro and is backed by them. Tether is favored by investors who are wary of the extreme volatility of other coins because its value is supposed to be more consistent than other cryptocurrencies.
The market capital of Cardano is over $67 billion. Cardano is notable for its early embrace of proof-of-stake validation, somewhat later to the crypto scene. By removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin this method expedites transaction time and decreases energy usage and environmental impact. Powered by ADA, its native coin Cardano enables smart contracts and decentralized applications just like Ethereum. As compared to other major crypto coins, Cardano’s ADA token has had relatively modest growth.
Binance Coin (BNB)
The market capital of Binance is over $64 billion. One of the largest crypto exchanges in the world, the Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance. On Binance’s exchange platform, the Binance Coin has expanded past merely facilitating trades since its launch in 2017. You can book travel arrangements, trade, and perform payment processing with Binance Coin now.
These cryptos are only the tip of the iceberg, more and more are getting noticed by investors, market makers, and retail. Have you been starting your own research into the crypto rabbit hole?