Financiers hate them — these are the most popular cryptocurrencies
What cryptocurrencies are hot? Regardless of whether you are a supporter or opponent of cryptocurrencies, it is worth knowing something about them so that you do not look ignorant. The TOP 10 cryptocurrencies are ahead of you.
Cryptocurrencies — a revolution or a speculative bubble?
Cryptocurrency news is often negative. Players blame cryptocurrencies for the shortages and high prices of graphics cards in stores, news from everywhere about “cryptocurrency” fraud, laundering dirty money with them, or discovering illegal crypto mines. The reports about cryptocurrencies buying their own power plants tell a lot about the scale of the extraction.
Many popular opinions about cryptocurrencies are simply a myth, such as the complete anonymity of transactions, which is to encourages the use of this money for criminal purposes. The owner of the wallet may be anonymous, while all transactions are stored forever in a given blockchain (apparently the FBI likes it). If you also thought that money laundering was invented along with cryptocurrencies, then you couldn’t be more wrong. According to Messari, the current ratio of criminal financial operations with the US dollar to bitcoin is 800: 1, so the share of cryptocurrencies in illegal operations is very low. Sure, criminals can use cryptocurrencies, but fiat money remains the favorite laundering currency.
You can also often meet opinions that cryptocurrencies have no real backing and therefore no value. If you think so, I will provide you with my wallet address — I will gladly accept a donation of a few worthless bitcoins. First of all, remember that “ordinary” currencies … are also not based on material goods. Their value is based solely on trust in the issuer.
Yes, the US dollar was once backed by gold, but President Nixon closed this chapter of financial history half a century ago!
With such a flood of unfavorable news, you can often forget that the amazing blockchain technology behind cryptocurrencies opens up many new opportunities, and the transformation to digital money is unstoppable in one way or another. The future may be digital currencies as we know them as they are, or controlled by governments. Some countries like El Salvador are experimenting with adopting Bitcoin as their official currency, others like China are banning cryptocurrency trading (once again) in order to introduce a fully controlled digital yuan. Recently, the president of Belarus encouraged the inhabitants of this country to mine cryptocurrencies, but let’s agree that in this case it can only be treated as a curiosity.
The most popular cryptocurrencies — TOP 10
Bitcoin (BTC)
One would like to paraphrase — what bitcoin is, everyone can see. It is on everyone’s lips and is called the king of cryptocurrencies for a reason. Created by a person or a group of people hiding under the pseudonym Satoshi Nakamoto, it is a payment network and a new type of money based on P2P technology. Despite the fact that the Bitcoin network is struggling with several problems, such as low transaction bandwidth (which is fixed with such overlays as the Lightning Network), it still remains the most popular cryptocurrency in the world.
Ethereum (ETH)
Ethereum is called Bitcoin’s successor for a reason. The Ethereum platform is currently in the transformation phase to version 2.0, which, in addition to many improvements, is also to virtually eliminate the mining of this cryptocurrency using graphics cards. Unlike Bitcoin, which is assumed to be just a payment system, Ethereum has much wider applications. This platform has many possibilities, and its goal is to create decentralized applications that can include not only payment systems, but also security systems, or even voting.
Cardano (ADA)
A decentralized Ethereum-like platform that provides many unprecedented features. Cardano was created to combine both a high level of user security and access to only necessary billing operations.
Polkadot (DOT)
Polkadot was created to minimize the problems plaguing the current blockchain networks. It does this by linking multiple chains to a single network. Polkadot makes operations more efficient and different chains can share information seamlessly.
Solana (SOL)
A direct competitor of the Ethereum network. This programmable blockchain enables instant transactions without sacrificing the important feature of decentralization. Like Ethereum, Solana uses smart contacts, but their operation is much better optimized.
XRP (XRP)
XRP is the currency used on the Ripple platform. It is a system of billing, exchange, and money transfers. Importantly, not only tokens representing cryptocurrencies are supported, but also real goods or classic types of money.
Tether (USDT)
If you are afraid of large fluctuations in cryptocurrencies, pay attention to the so-called stable coins. The most common example is Tether, which has a one-to-one relationship to the US dollar. Tether was originally based on Bitcoin but is currently mostly based on Ethereum. It is a centralized project and (unlike many other cryptocurrencies) non-transparent, but it is said to be fully covered in fiat currency. There have been many accusations on Tether’s charges, but so far the owners of the platform have emerged from the courtrooms with a shield. Tether is a stable coin and the value of one USDT is always expected to be one US dollar.
Tether (USDT), it’s better to avoid a little too much ambiguity surrounding this crypto at the moment. USDC or TUSD (True USD) is much better. Paxos is also a good option, both dollar-based and gold-based.
Each of these cryptos is worth paying attention to.
I first became interested in this technology at the very beginning of its existence and then I thought it would be the future. Cryptos have already experienced dozens of “failures” in various forms and the fact that they are still with us and the adoption is progressing faster and faster (VISA, PayPal, Mastercard, etc.) only confirms that they will stay with us for longer.
Believe it or not, I personally think that anyone who buys even a small amount of BTC or ETH and forgets about them for the next 5–8 years (keeping it on YOUR hardware wallet!) They Will do themselves a big favor (and if everything goes wrong, they will not lose much.
Uniswap (UNI)
Uniswap, in turn, is a decentralized exchange with which you can easily exchange various cryptocurrencies and more specifically different Ethereum tokens. The created UNI currency enables its owners to influence the development of the platform.
Stellar (XLM)
Stellar’s premise is to connect the world’s financial infrastructure so that money transfer problems are to disappear. This includes financial institutions as well as companies and individuals. The cryptocurrency of the Stellar network is called lumen (XLM) and it facilitates universal payments with minimal fees.
Chia (XCH)
The popularity of Chia, also known (partially truthfully) Green Cryptocurrency, exploded a few months ago. The reason behind this platform is to improve the financial and payment system. Chia relies on sharing disk space to create farms for “growing” this cryptocurrency. Currently, the XCH price has plummeted and there are rumors on the web about farmers selling out discs in panic. But who knows, maybe Chia will still amaze us?
Cryptocurrencies will stay with us forever and will be used on a large scale. This market is not only virtual money but works of art, music, sports, etc.
Football clubs have their own tokens, celebrities create their own NFT tokens (from our backyard Doda’s success in this field) and artists are starting to sell paintings for heavy money, and, recently, a virtual image The NFT went for $ 69 million.
El Salvador has accepted Bitcoin as normal currency and several countries are already lining up to accept Bitcoin, such as Panama, Paraguay, and Brazil.
I also started investing a few months ago, although not large amounts, and I was a bit lucky because I bought Solane at a price that was below $ 50 :) and now I have over 5 pieces on the Trust Wallet. Currently, it stands around $ 160 and does not sell but grows because I hope it will reach even 500 in the next year :)
After Solana, I think I will invest in Polkadot because it is also a very interesting project with a chance for great success in the future.
From the interesting top cryptos, you can definitely add Cosmos and Avalanche.
From the current niche, maybe the Polish Metahero will shoot, especially because it is related to gaming and the sheiks have become interested in this project and there is to be a conference in Dubai soon.
