Cryptocurrencies have been around for more than a decade now, but the world has not yet fully accepted its existence. The crypto space continues to be shrouded in mystery and intrigue, and people are still skeptical about its usage.
On the other hand, there are some who are overly enthusiastic about crypto assets. So, personal views about crypto coins or blockchain technology and their applications are different amongst different people.
Do you want to know which the most actively-traded cryptocurrencies in the market today are? The truth is that there exists more than a thousand cryptocurrencies in the crypto market and choosing one to invest in can prove to be a challenge for anyone. Here are the top 5 actively-traded ones:
Bitcoin (BTC) was the first cryptocurrency to be launched as a decentralized digital currency and method for receiving and sending payments backed by a technological set-up known as a blockchain.
The Bitcoin was started a decade back by an anonymous group of people or individual going by the name of Satoshi Nakamoto. Today, the Bitcoin has grown into a mainstream medium for exchange, and companies like Overstock.com, Dish Network, and Expedia.com are accepting Bitcoins as payments.
BTC is marked by constant volatility and this is why it is a key target for traders. BTC continues to be a favorite with those practicing swing trading and scalping strategies. BTC trade is also on the rise because of the launch of automated bitcoin trading applications; check bitcoin profit opinie to know how they work.
Litecoin (LTC) is another P2P cryptocurrency that functions much like the Bitcoin. This was started by an ex-Google employee Charlie Lee and was meant to rectify the shortcomings of the Bitcoin.
There are some areas in which the LTC is definitely an improvement over the original BTC, like speed, since LTC transactions are much faster, fees, as the costs associated with using
LTC is far lower than BTC, and LTC mining also turns out to be quicker than Bitcoin mining. Since the LTC appears to be a more affordable investment option many people are getting attracted to it.
Ethereum has been around for quite long and is also founded on the blockchain technology. Ethereum supports many user-created applications and conducts transfer of ETH or Ether.
The idea is not really to change money transfer between parties but to mainly decentralize the Internet. It uses blockchain to eliminate third-party vendors and revolutionizes the existing client-server model.
Ethereum follows a close second to the Bitcoin in terms of market cap and its growth potential is the biggest reason why investors are keen to trade it.
Bitcoin Cash (BCH) is a slight variation of the original Bitcoin and was created during the “hard fork” in 2017 with the aim to make transactions faster.
Bitcoin Cash increases the volume of data in every block and thereby accelerates transaction speeds. Supporters feel that bigger blocks will improve mining efficiency making BTC more accessible.
Ripple (XRP) has been a steadily rising crypto-asset that facilitates exchanges between participants. But instead of being designed to build a decentralized and anonymous system of payment, it targets traditional banking institutions.
XRP travels fast and transactions happen in record time. More than a hundred banks have already adopted the XRP blockchain version like American Express, UBS, etc.
Irrespective of the criticism or skepticism, there is a surge in the popularity of crypto assets and investors worldwide.
And these are the 5 Cryptocurrencies that are traded actively in the Crypto. market. What do you think about them? Let me know in the comments section below.