Cryptocurrency is definitely a popular topic these days. Many people know that cryptocurrency is virtual and not a physical asset. This type of currency exists only online. While there are hundreds of cryptocurrencies on the market, some are more popular than others. Here are the most popular types of cryptocurrencies.
Bitcoin was created in 2009 and was the first type of cryptocurrency on the market. As with all cryptocurrencies, Bitcoin runs on something called a Blockchain. This Blockchain is a ledger that keeps a record of the transactions across the cryptocurrency network. This network is comprised of thousands of computers.
Ethereum is one type of cryptocurrency that is experiencing a great amount of growth. Its price went from $11 to $1800 in a matter of six years. It is the most popular cryptocurrency after Bitcoin. It runs on a Blockchain and cryptocurrency platform.
Tether is backed by fiat currencies such as the U. S. dollar and the Euro. In this way, it is different from other types of cryptocurrency, and it’s called a stablecoin. This ability provides consistency more so than other types of cryptocurrencies. For this reason, it is a favorite cryptocurrency of investors who are apprehensive of the volatility of other types of cryptocurrency.
Even though Dogecoin started out as a joke in 2013, it has advanced to become a popular cryptocurrency. Its community and meme propelled it to the forefront of another cryptocurrency on the market. Dogecoins are different from other types of cryptocurrency because they do not have a limited amount of coins available. The negative flipside to this, however, is that the value of Dogecoin can decrease when the supply increases.
There are many types of cryptocurrencies available for investors on the market today. Even though it may seem like a complex topic at first to navigate, cryptocurrency can become a familiar term, and its popular players could become commonplace. We will provide you with every type of resource that you need in order to navigate the relatively new cryptocurrency investments.