Top cryptocurrencies:
The race to the moon

 The cryptocurrency space may seem to revolve around Bitcoin, but if you wish to start investing in cryptocurrencies or expanding your portfolio, there are several others that you can choose from including ETH, ADA, BNB, and DOGE.

Top 10 Cryptos to Invest In

As the first cryptocurrency to hit the market, Bitcoin has come a long way from when it was first introduced to the world a little more than a decade ago by its pseudo-anonymous creator Satoshi Nakamoto.

Back in 2010, Bitcoin had its first price increase, which saw its value shoot from $0.0008 to $0.08 – and yes, that’s for one whole coin.  On May 22 of the same year, Laszlo Hanyecz paid 10,000 BTC for two boxes of pizza from Papa John. 

Today, 11 years later, one Bitcoin will set you back around $51k, so you can just imagine how much your investment would have grown by now if you bought Bitcoin a few years ago. 

Ether, the second most popular cryptocurrency next to Bitcoin, is the native coin of Ethereum, which is a blockchain-based platform that allows people to run smart contracts and decentralized applications or dApps. 

Unlike Bitcoin which is designed only for one thing, which is payment, the possibilities are endless when it comes to Ethereum. In fact, several cryptocurrencies today run on the Ethereum blockchain as ERC-20 tokens, including Maker (MKR), Basic Attention Token (BAT), Binance Coin (BNB), Tether (USDT), and Chainlink (LINK). 

While Ether is primarily used as payment for gas fee on Ethereum if you want to run smart contracts or dApps, it is also now accepted as a form of payment by some merchants and service vendors, as well as traded on major crypto exchanges.

Founded in 2011, Litecoin was initially considered a strong competitor to Bitcoin, but albeit in a “lite” version. It shares several features with Bitcoin, most notably as a decentralised money that is free from censorship and open to all. Its popularity has waned over the years and as of September 2021, it ranks 13th in terms of market cap.

Launched in 2017 and positioned as an alternative to Ethereum, Cardano is another blockchain-based platform developed by Ethereum’s co-founder Charles Hoskinson.

While relatively new to the cryptocurrency space, Cardano’s ADA has become one of the top three cryptocurrencies in the world with the largest market cap and has caught the attention of many, including investors.

Similar to Bitcoin, Cardano has a finite supply, which is set at 45 billion ADA. However, unlike Bitcoin which is famous for its massive energy consumption, Cardano is energy-efficient, eco-friendly, and takes a research-based approach to its development process.

XRP is the native cryptocurrency of the Ripple network, which is designed to facilitate the needs of the global financial services industry such as payment settlement, asset exchange, and remittance in a faster, cheaper, and more efficient way. It offers financial institutions a fast and reliable option for sourcing liquidity on demand.

Ripple describes itself as a global payments network, with major banks and financial services as its clients, and uses XRP in its products to allow faster conversions between different currencies.

Tether, like thousands of others, is a cryptocurrency, but what sets it apart from the rest is that it falls under what is called as a “stablecoin”, which are digital currencies that are pegged to real-world assets like the US dollar or gold. 

In the case of Tether, it is tied to the US dollar, hence its price is more or less equivalent to $1, and is designed to bridge fiat currencies and cryptocurrencies while offering stability.

Monero is a privacy-oriented cryptocurrency that was launched in 2014 and makes every transaction anonymous by disguising the addresses used by participants. Its privacy features make Monero easy to use for illegal activities and in the dark web, leading to it being delisted in exchanges in certain countries such as South Korea and Australia. 

Dogecoin is a cryptocurrency that was launched in 2013 as a satirical homage to Bitcoin. Like with any other cryptocurrency, Dogecoin has seen dramatic swings in its value, most notably as a result of Elon Musk and other celebrities tweeting and talking about it.

Stellar Lumens or XLM is the native cryptocurrency of the Stellar network that connects banks, payment systems, and people. It is designed to facilitate affordable transfer of value, including payments, and allows cross-border transactions between any currencies. 

Stellar is founded by Jed McCale, the founder of Mt. Gox and co-founder of Ripple. 

Bitcoin Cash is a fork of the Bitcoin network that increases the size of blocks to allow more transactions to be processed. The fork came as a result of the scalability issues that plagued Bitcoin because it couldn’t handle the increased number of transactions. To resolve this, Bitcoin Cash supporters proposed to increase the block size, while the other option was to exclude certain parts of a transaction to fit more data into a block, a stance supported by the Bitcoin Core team. 

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