Are you confused about which cryptocurrency to buy? How to choose the right currency among 10 major cryptocurrencies based on market value? Learn all about it here.
There are currently thousands of cryptocurrencies in circulation all over the world. Such a large number becomes a problem for first-time users of cryptocurrencies. They don’t understand which cryptocurrencies to trust. In addition, sometimes the value of some unknown cryptocurrencies suddenly exceeds 100%, increasing their fear of missing out (FOMO).
If you want to trade in cryptocurrencies, it is important to understand some of the tried and tested cryptocurrencies before learning about cryptocurrencies. With this in mind, we have handpicked 10 top cryptocurrencies by market value as of August 2021, to give you a better understanding of crypto.
It seems to me that cryptocurrencies have a potential future. Although their value may fluctuate rapidly, these digital assets can become an effective means of payment.
Bitcoin is the most famous cryptocurrency in the world. This original cryptocurrency was created in the year 2009 by an individual or group by the name of Satoshi Nakamoto. Like most cryptocurrencies, bitcoin also runs on a blockchain, which is a network of thousands of computers that verify transactions in real-time without a broker or agent.
In addition to excellent security, the concept of Bitcoin is completely safe from any type of hacking. Its market cap was over $856 billion at the end of August. The price of one bitcoin has increased from $500 five years ago to over $45,000 today. This means that a staggering total of 8900% returns were received during this period.
Ethereum is a blockchain network whose native token is Ether or ETH and you can also call it a cryptocurrency. If you have heard of NFTs being sold digitally, you should know that they are mostly processed using the Ethereum blockchain. Thus, It is a great platform that constantly tries to upgrade and stay on top of the trend. Its new initiative aims to drastically reduce dependence on fossil fuels.
As a cryptocurrency, it has delivered staggering returns, rising from $11 to over $3000 in five years. This return of 27,000% is like pinching your finger under your teeth. Currently, its m-cap is over $357 billion, making it the second-largest cryptocurrency in the world.
If you are wondering how to get such returns, then do give a thought to our recommended Zebpay usage. It lets you start with just ₹100 and invest in the crypto of your choice. To buy your first cryptocurrency, all you have to do is enter your mobile number and verify yourself through a simple process of KYC.
Binance Coin is the third most popular cryptocurrency of the current era with a market cap of over $70 billion. It can also be used for trading, payment processing, or travel booking. Also, it can be traded or exchanged for other forms of cryptocurrencies such as Ethereum or Bitcoin.
In India, the cryptocurrency platform Zebpay offers some even better features for its users. KYC-registered users with Zebpay Earn get daily returns on select crypto holdings. So, you only get paid in crypto for holding a few cryptos. The rate of return in this ranges from 1% to 7.5% depending on the coin and cryptocurrency you have. Zebpay Earn is a great way to store cryptocurrency and generate returns on your crypto holdings.
Cardano is a new cryptocurrency, but it made a splash as soon as it came out and is the most talked-about cryptocurrency at the moment. It is known for its innovative and reliable proof-of-stake method for validating transactions at a lower cost than the larger cryptocurrencies. It had a market cap of $69 billion at the end of August 2021.
Tether, with an m-cap of $64 billion, is a different kind of cryptocurrency. We take it as a stable coin. It is backed by fiat currencies such as the US dollar, which makes it more stable and reliable than other volatile cryptocurrencies.
XRP has been created by the team of digital technology company Ripple. It is used as a network to exchange different types of currency, including fiat currency as well as other major cryptocurrencies. XRP had a market cap of $52 billion at the end of August 2021.
What started as a meme has grown to become a cryptocurrency valued at over $40 billion today. The funny thing about this is – in 2017 the value of Dogecoin was $0.0002 and today it is $0.31. This means it has increased by 1549000% in five years!
Polkadot was launched in 2020. In just one year, its value increased from $2.93 to $25.61, an increase of 774%! The specialty of Polkadot is that it seeks to create a cryptocurrency network that links different blockchains so that they can work together. Its m-cap is currently over $25 billion.
USD Coin is another stable coin. Its market value is $23 billion and continues to grow. Its controller is Ethereum and functions to transact anywhere in the world.
Finally, let’s talk about Solana. It is a cryptocurrency with an m-cap of over $20 billion. It recently made headlines for its unique hybrid proof-of-stake and proof-of-history mechanism. Significantly, these mechanisms help in processing the transaction quickly and safely. Solana was launched in 2020. At that time its price was $0.77 and today it is trading up 9405% at $73.19.
With so many options available, it will now be easier for you to decide which cryptocurrency will be the best fit for you. After taking a thoughtful decision, you can start investing in any of these currencies with little money. As we have said earlier, you can open a Zebpay account for this and start investing by completing the KYC formalities. Not only this, but you can also earn crypto by holding your favorite cryptocurrency with the help of Zebpay Earn. So, what’s the delay, go ahead and start investing in cryptocurrencies today!