Till now there are more than 400 types of virtual currencies (cryptocurrencies) in circulation and there are many which are just about to enter the market. Based on performance, market capitalization and user’s choice here is the list of top 10 best cryptocurrencies that are currently ruling the crypto market.
A quick overview on where to buy cryptocurrencies:
What exchanges support Verge (XVG)?
Most of these exchanges allow you to trade Bitcoin and Ethereum very easily for lots of cryptocurrencies. To buy Bitcoin visit Coinbase
Bitcoin is the costliest virtual currency in the world and it currently holds the number one position despite being launched decade back in 2007. As of now, no other cryptocurrency has come close to the performance of Bitcoin.
The user base of Bitcoin is well established and the cryptocurrency is even accepted by major retailers worldwide.
Despite being in existence for an incredibly short time of just 2 years this cryptocurrency has leaped to the number two spot in terms of market capital, popularity and user choice.
As of Jan 1 2017, the cost of one token for the same was about $8 but right now it has crossed $400. Now that’s a huge amount of gain in a very small time period.
The Ripple protocol was launched by Chris Larsen and Jed McCaleb in 2012. Ripple was created with a purpose of “working with banks to bring about a change in the way they send money to the world.”
Built on an open source internet protocol it has its own currency called XRP and as of now, there is over 100 billion XRP in existence.
Ripple has got a monetary representation in terms of a massive currency interchange application and is certainly very beneficial for those who are looking to invest for long-term.
Litecoin, launched in 2011, is similar to Bitcoin in many ways but it has got a pretty fast block generation rate, therefore, offering a quick transaction confirmation.
Litecoin has adopted ‘Segregated Witness’ technology through which its network has garnered more capacity and a drastic reduction in transaction fees thus making it a high potential cryptocurrency in coming years.
Dash, launched in 2014 and formerly known as Dark Coin, boasts of a decentralized network which makes the transactions made through the platform almost untraceable.
Dash, like Litecoin, also offers instant transactions. The transactions get confirmed on the other end almost instantly with very low fees being charged from the user.
Launched in 2014, this cryptocurrency has put its focus on privacy and decentralization. It is crowd funded and donation based.
Based on ‘CryptoNote’ protocol, Monero offers many privacy features which are not available in other cryptocurrencies.
Moreover, it is almost impossible to trace any transactions or the number of funds an address holds.
Launched in 2014, it is the first hybrid public/private blockchain solution which is built from absolutely nothing.
Though the market value of NEM is the lowest, its mining capacity can reach a whopping 9 billion which will certainly help NEM to defeat most of its rivals.
8. Bitcoin Cash
Bitcoin cash was launched in August 2017. It was created to put an end to the limitation of Bitcoin which is ‘scalability.’
Bitcoin transactions took a relatively long time to get processed but this has been taken care of Bitcoin cash. Also, the block size for bitcoin cash has been increased to 8 MB.
So, if you missed the opportunity to grab bitcoin early you can go for Bitcoin cash as it is still below $1000.
9. ZCASH (ZEC)
Zcash, launched in 2016 is the first open financial system that doesn’t require any permissions plus it employs zero-knowledge security.
This means that there are strong privacy protections offered to your transactions while dealing in Zcash. It acts as a secure transport layer.
The thing which brings IOTA to this list is the Tangle, which is a block less distributed ledger. It is also scalable and light-weight.
All these features make it possible for a transaction made in IOTA get settled without levying any kind of fees in a decentralized and self-regulating peer-to-peer network.
Current data and statistics clearly indicate that cryptocurrency will soon emerge as the vital part of the world’s economy. The foundations have already been laid, therefore the sooner anyone makes an investment, the better & bigger the chances are there that anyone will gain profits.