Top Cryptocurrencies Right Now
We could start the article saying “according to,” “according to,” “according to.” Obviously, we will have different resources to determine what are the top cryptocurrencies right now. Unfortunately, when doing your homework on the net, you can be reading articles from the creators of the cryptocurrencies themselves, which claim that they are the top cryptocurrencies. So, let’s start with a few reputable sources.
Top of the list is a name we see quite often when researching information on investments like digital currency. That name is Investopedia. What does Investopedia say are the top cryptocurrencies? They start with Litecoin (LTC) as the leader, the following is Ethereum (ETH), Zcash (ZEC), Dash, Ripple (XRP), Monero (XMR), and Bottom Line. What’s next up on the list of trusted sources? How about Yahoo Finance? According to Yahoo Finance, the biggest names in cryptocurrency right now start with Coinbase as their top rated in cryptocurrencies. Ethereum is next to follow. That is two top sites that list Ethereum as the second top cryptocurrency of the year. So, let’s start with learning a bit about Ethereum.
Ethereum’s creator is not the typical “guru” you may think of when thinking of a cryptocurrency. Typically, you think top scholar, high schemer, and smart genius. A teenager is not something you associate with a creator of a successful cryptocurrency. That is what Ethereum’s creator was at the time of its release. Vitalik Buterin is the great teenage mind of Ethereum and co-founded the cryptocurrency with Joseph Lubin. Now 23 years old, he is said to be among the “the greatest minds in crypto space.” A 23-year old that has the insight to create the second most popular cryptocurrency of the present day, Ethereum. He’s smart, he’s successful, and his currency is unique.
Ethereum is a blockchain network, but one that is not attached to the Bitcoin blockchain. The network is designed for the storing and enactment of smart contracts, which is one reason for the enthusiasm towards the currency over other digital currencies like Bitcoin. Developers have, too, showing their interest in the digital currency, flocking to the network to build early-stage apps on top of Ethereum. Other platforms like Coinbase are also getting involved with its success including Ethereum for users to be able to buy Ethereum on their platform, which in itself makes a statement as to just how successful this cryptocurrency is and that the prediction of it steadily rising in value is likely accurate.
When talking cryptocurrencies, Coinbase is something that also hits the charts. Consumers love it, investors have gained a great ROI through the platform, and there is great controversy about Coinbase, which makes it a bit more intriguing. The CEO of the website, Brian Armstrong, has purchased Bitcoin himself. Does that suggest something? Coinbase is the ideal place for newbies and is said to be a “horn” of Bitcoin. The site is a digital currency exchange, broker exchanges of different currencies like Ethereum, Bitcoin, and Litecoin as well as others.
Let’s take a look at what is said to be a top cryptocurrency, now. Litecoin, in some circles, is the top choice of cryptocurrencies. The cryptocurrency is an alternative to digital currencies like Bitcoin. The digital currency was created in 2011 by Charlie Lee and is third in line for being the oldest cryptocurrency still in existence. What makes it one of the top cryptocurrencies? To start, it is a “fork” from the Bitcoin core source code and is much quicker than Bitcoin blockchain. While coins need to be mined, they are mined much quicker than that of Bitcoin. On an average, mining a Litecoin block takes about 2.5 minutes while mining Bitcoin blocks take about 10 minutes. Also, the transaction fees are near zero, so this is another reason for the enthusiasm of Litecoin. There are also more coins that can be mined. To be exact, 84 million coins can be mined. Litecoin is unique from Bitcoin as it uses a proof of work algorithm, so there is no ASIC technology involved; however, this may sound wonderful, but because the technology has not become obsolete as the equipment necessary for mining Bitcoin, China has become a major global mining power of the coins. Certainly saying something as to the investment of the currency, and something to be said for the US is a step behind in the global mining power.
What about Bitcoin? While it may not be at the top of sites like Yahoo Finance, it is among some of the top charted investment platforms and considered an investment that consumers and investors should not overlook. Bitcoin, the digital currency is one that is noticed among everyone from non-Internet users to seasoned investors. That alone says something as to the following of the virtual world currency. It started as a penny investment that has steadily increased in value, or should I say, skyrocketed. Currently, the value of a Bitcoin is about 600 dollars, offering a good ROI for those that had purchased coins for about eight cents per coin when they were first released. The coin/cryptocurrency is one that is predicted to steadily increase in value. Bitcoin is a bit different than other cryptocurrencies as there is much intrigue involved with the coin. Its creator created the cryptocurrency under an alias name of — and disappeared shortly after the first Bitcoins being released. That hasn’t stopped public interest; it has only added to the thrill of the cryptocurrency; that, and the coins must be mined which leads the greatest minds to solve mathematical equations of blockchains that must be solved to release the coins.
Whether the top name on the most reputable investment site, or a cryptocurrency that caught your interest in a “not so known” investment site, or just on a platform from a “nobody,” the factor that often makes an investment successful is research. With cryptocurrency, there are many strong currencies out there, each offering a uniqueness, thrill, and investment; but, none should be considered something to invest in until research is done on the cryptocurrency.