The different types of Cryptocurrencies, a simple guide on the top 5 must know Cryptocurrency coins in 2018. Read on to know more in 3 minutes.
Cryptocurrency is quite a technological craze in 2017 to 2018. It’s a decentralized digital currency that enable transactions to be conducted swiftly at zero or low cost with greater anonymity. In short, making transactions of any value more efficient than traditional fiat transactions.
There are around 3000 Cryptocurrencies now that promises in some way or another to do the above. Some Cryptocurrencies have strong blockchain foundation powering the technology, some have great utility for better functionalities, others are just there to join the bandwagons.
Therefore, we are here to share with you on the top 5 most popular Cryptocurrencies so you can keep a
lookout for them, saving you time and effort needed to research on it too.
1) Bitcoin (BTC)
This should not come as a surprise to you, the poster boy for Cryptocurrency, the godfather of all
Cryptocurrency. It started out in 2009 by an anonymous figure called Satashi Nakamoto. Being the oldest currency, it has the biggest recognition, widely available, largest pool of investors and
developers backing it up.
2) Ethereum (ETH)
The 2 nd most popular Cryptocurrency. Launched in 2015 by Vitalik Buterin, Ethereum is more than just a currency. It is a blockchain-based platform for developing centralized apps and smart contract. It enables users to code and setup smart contract (agreements coded on the blockchain that executes automatically based on a certain pre-set conditions)
3) Ripple (XRP)
Ripple is a real time payment and settlement system, currency exchange, remittance system all
rolled into 1. It was founded in 2012 to make international transactions faster and cheaper. Ripple has been adopted by a few banks and payment systems and should be the most successful
Cryptocurrency that is adopted among companies and banks.
4) Bitcoin Cash (BCH)
Bitcoin Cash is forked from Bitcoin in 2016, when the developers in Bitcoin couldn’t come into an
agreement in Bitcoin’s coding, it was forked into Bitcoin Cash. The increase in block size over Bitcoin allows for faster transactions and cheaper transactional costs.
5) EOS (EOS)
Launched in mid 2017, this relatively new currency is designed after Ethereum as it offers a platform for developers to build decentralized applications. EOS was also founded from one of the longest and most profitable Initial Coin Offering in Cryptocurrency world. Investors were fond of robust platform, better scalability and unique mining mechanism.
All in all, the top 5 Cryptocurrencies are still leading the charts in terms of total market cap, user base and popularity. Nonetheless, many other currencies like Tron (TRX), Stellar (XLM), IOTA (IOTA), NEO (NEO) are catching up with better utility, innovation and investor’s support. Judging from the market response, Cryptocurrency is here to stay despite the drop from all-time-high market cap from a few months ago.
Do follow us on the next blog post in finding out on how to buy, trade and send Cryptocurrency. Cheers!