Top Ten famous Cryptocurrencies

The world’s first famous cryptocurrency; Bitcoin ushered a new tide of cryptocurrencies and gave the world a substitute for the plastic cards and paper money. Bitcoin is considered a trendsetter and a standard when it comes to cryptocurrency.


WHAT IS DIGITAL MONEY? WHAT ARE CRYPTOCURRENCIES?

There are many alternatives to Bitcoin. But, before talking about them, let us understand what is cryptocurrency and altcoin. Virtual money or digital currency is called a cryptocurrency in the general sense of the term. These digital currencies are displayed in the forms of gold tokens and coins. Some cryptocurrencies (I mean digital and virtual money) have taken the shape of physical money in the form of credit cards and other forms.
Cryptography or cryptology means the art of solving codes. The prefix in crypto-currency means the cryptography which has been used to invent digital currency and its transactions.
The other currencies that have been created on the model of Bitcoin are called altcoins. It needs another blog to describe what are those altcoins and how many of them are there.
I have enumerated the most famous or widely used cryptocurrencies in this blog for you. If you miss to find your favorite one, please comment below so could add it later upon your recommendation.
Why later and not now? Let me amaze you by the fact that by the start of 2020 there were more than 2,000 thousand cryptocurrencies in the world and the number is still adding. Facebook and other tech giants yet have to introduce their own currencies later.
So, I don’t know that the next big cryptocurrency can be introduced tomorrow.
Different analysts will rank these currencies differently according to the volatile market trends, personal likings, and geographical or other reasons. I have ordered them in the below ranking according to my understanding and finding. So, if you find any irrelevance, please openly share your marks in the comment box so your precious findings could be the source of information for the YuuWee community.

1.      LIBRA
The currency that has created global level hype and stirred the whole world and can possibly take dominance in the domain of cryptocurrencies is none other than Libra of Facebook.
The news of Libra by Facebook is circulating on the cyberspace by 2018.
Facebook's global reach, billions of users, and trillions of activities per annum suggest that the tech giant can take the largest chunk of the market in the history of cryptocurrency.
The launch date of Libra is the last quarter of 2020. It will be the game changer and will set new standards for the market.
2.      RIPPLE (XRP)
It (XRP) was launched in 2012. It facilitates banks in the domain of cross border payments with transparency in both ends at very low costs. I should tell you that ripple is the world’s third-largest cryptocurrency in 2020. It has a market cap of nearly $10 billion.

3.      ETHEREUM (ETH)
You might not know that the second largest digital (virtual) currency on the internet is Ethereum after Bitcoin. But still, after such a whopping success, it is only one-tenth (1/10) the size of Bitcoin. In the first quarter of 2020, the market capital of Ethereum was more than $15 billion.
4.      TETHER (USDT)
It (USDT) was one of the first groups of stablecoins. Stablecoins, if you know, aim to peg their market value at external references or other currencies. This is due to the reduction of volatility and maintaining stability. Why so, because almost all cryptocurrencies, even Bitcoin, have faced volatility. These fluctuations scare the investors off.
Tether was launched 6 years ago in 2014. It calls itself blockchain-enabled platform that facilitates hard money to be transferred and transacted on the cryptocurrency lines.
In short, Tether allows people to make transactions of money very securely using blockchain technology. It minimizes costs and enhances securities.
The other interesting thing is that it is the fourth-largest cryptocurrency in 2020 that is why Wee have given it the fourth position in this blog for Yuu. It has the market value of nearly $5 billion. Each token of Tether costs around $100.


5.      LITECOIN (LTC)
Launched 9 years back in 2011 Litecoin was among the first few cryptocurrencies that followed the footsteps of Bitcoin. It has branded as the silver coin because Bitcoin is called the gold coin, strangely, Bitcoin is way more expensive than a real gold coin. It should be called a gold biscuit if you ask me.
Charlie Lee was an MIT student and Google engineer who created Litecoin. It is an open-source global payment system. Not only developers but others as well now unhesitatingly accept Litecoin as a means of payment.
Now it is the world’s sixth-largest coin.
6.      BITCOIN CASH (BCH)
It holds the most prominent position among the Altcoins. It came into existence in 2017, only 3 years ago. It is an emerging name and becoming very popular nowadays. Because the name Bitcoin attached to it. It is among the top three cryptocurrencies and still rising up high with the market cap of nearly $5 billion. It has occupied a prominent position in a very short span of time. Do Yuu consider buying it? Please go ahead as the latest trends signal its surge in the near future. It has the potential to take the market lead after Bitcoin.
7.      BITCOIN SV (BSV)
Bitcoin Satoshi Vision is a hard fork of Bitcoin Cash. Now don’t ask me what is a hard fork, you will not understand now, I will write another blog on this for you. Just stick to the Bitcoin SV for now.
Why is it even in the market you might ask? When there are so many other cryptocurrencies. Well, it is here because the developers wanted the increased securities and stability in the blockchain system. Keeping all this in mind, you will be astonished to hear that it has been only a year when the Bitcoin SV came into existence and now it has the market value of more than $2 billion.
8.      BINANCE COIN (BNB)
Binance is an exchange as I have mentioned in my other blog explaining how to invest in Bitcoin. It has now introduced its own currency with the same name. BNB is the short name for the currency. It is the largest exchange of cryptocurrency in the world. It started business in 2017 and has gained prominence in no time. Only the digital currency backed by Binance has a market cap of more than $2 billion.
9.      EOS
Dan Larimer created and launched EOS in 2018. EOS is also launched by an exchange called Bitshare. You might have heard about Steemit, a blockchain-based social media platform. It is also owned by Dan Larimer. One of the longest and most profitable coin offerings was by EOS. It generated about $4 billion from crowdsourcing and investors funds.
10.  MONERO (XMR)
If you want secure, untraceable, and private currency go for MXR. It was launched back in 2014. Should I tell the intriguing fact that Monero was developed with funds collected from donations? It has been widely used by criminals due to its security and untraceable features. It has a market cap of around $1 billion.

If you don't know what I have talked about above then you need to learn about what is blockchain and how to invest in Bitcoin first.

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