It's generally simple to discover what the top digital money is at any given time: essentially, it's Bitcoin. However, the market moves so quickly that it's a lot harder to keep up with what's happening below.
That's because while we all know about Bitcoin and how rich we’d be today if we’d invested in it 10 years ago, there are hundreds, if not thousands, or other cryptocurrencies. Many are alternative — supposedly improved — versions of Bitcoin, but others, like Ethereum, are much more than just a currency.
Whether you're thinking of investing or are just intrigued by this new financial world, it's well worth finding out what the top cryptocurrency performers are. And unlike 10 years ago, we now know that it is a legit asset, as big banks, funds, and millions of individuals include crypto in their investment portfolios.
*cryptocurrency news:
- The crypto world is eagerly awaiting Elon Musk's appearance on Saturday Night Live tonight; Musk just issued a new warning on investing in crypto.
- Dogecoin continues to soar in value ahead of Musk's appearance, with one Doge now worth a record high of $0.70.
- The governor of the Bank of England has warned cryptocurrency investors that they should be prepared to lose all of their money. Andrew Bailey said: “They have no intrinsic value.”
What is the top cryptocurrency by value?
1. Bitcoin (BTC)
Bitcoin market cap: $1.1 trillion
Bitcoin value: $58,921
Like all cryptos, Bitcoin started out worth virtually nothing. In 2017 it took off from under $1,000 to over $20,000, but within a year was down around $4,000. In late 2020 it began skyrocketing again, this time from around $10,000 to the $50,000-plus orbit it’s in today.
Bitcoin has been around for the longest of any cryptocurrency. It’s easy to see why it’s the leader, with a price, market cap and volume that’s much higher than any other investment options. Even with thousands of other cryptocurrencies on the market, Bitcoin still represents 40% of the cryptocurrency market cap.
Many businesses already accept Bitcoin as payment, which makes this cryptocurrency a smart investment. Visa transacts with Bitcoin, and Tesla CEO Elon Musk recently invested $1.5 billion in it. Plus, the larger banks are beginning to incorporate Bitcoin transactions into their offerings, too.
- How to buy Bitcoin:Bitcoin can be purchased on crypto exchanges such as Coinbase, Binance, and Kraken; at Bitcoin ATMs; on PayPal; and on Robinhood.
- CoinMarketCap reports on the trading activities of thousands of markets but does not directly sell any cryptocurrency. The best way to find where to buy is by looking on the markets section for the cryptocurrency. For example, to find where to buy Bitcoin, you can look at the markets section for Bitcoin.
- To complete your first purchase in CoinMarketcap, you will need to select the coin you wish to buy on the exchange. Exchanges have a “Trade” section and within this you will need to choose a coin, such as BTC, ETH or another. Cryptoassets are traded in pairs. The largest coins will have pairs that match the main government currencies.
- Risks of Investing in Bitcoin:The value of Bitcoin tends to fluctuate a lot. You may see the price go up or down thousands of dollars during any month. If wild fluctuations like these make you nervous, you may want to avoid Bitcoin. Otherwise, as long as you keep in mind that cryptocurrency is a smart long-term investment, these fluctuations shouldn’t be too concerning.
2. Ethereum (ETH)
Ethereum market cap: $410 billion
Ether value: $3,552
Ethereum is different from Bitcoin because it isn’t only a cryptocurrency. It’s also a network that allows developers to create their own cryptocurrency utilizing the Ethereum network. While Ethereum is far behind Bitcoin in value, it’s also far ahead of the other competitors.
Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology.
- How to buy Ethereum: You can buy ETH on the major crypto exchanges, Robinhood, and PayPal.
- CoinMarketCap:to find where to buy Etereum, you can look at the markets section for Ethereum.
- Risks of Investing in Ethereum:While Ethereum utilizes blockchain technology, it only has one “lane” for conducting transactions. This can lead to transactions taking longer to process when the network is overloaded.A hack in 2016 led to more than $60 million Ether dollars lost because of a flaw in the Ethereum wallet. While the company has made strides in increasing its security, loopholes are always a risk with any cryptocurrency investment.
3. BinanceCoin (BNB)
BinanceCoin market cap: $97.3 billion
BinanceCoin value: $635
BinanceCoin was launched in 2017 by the BINANCE cryptocurrency exchange, the world’s largest crytpo exchange by volume. During its initial coin offering (ICO), it sold 100 million coins to the public at $0.15 per coin. BinanceCoin can be used to pay transaction fees on the Binance exchange, to trade for other cryptocurrencies, and to pay for some goods and services.
- How to buy BinanceCoin: The best place to buy, sell, trade, and hold BinanceCoin in Binance cryptocurrency exchange.
- CoinMarketCap:to find where to buy BinanceCoin, you can look at the markets section for BinanceCoin.
- Risks of Investing in Binance Coin: What sets Binance Coin apart from its competitors is that it was created by a company instead of a group of tech developers. Although Binance Coin’s commitment to maintaining a strong blockchain has won over many skeptics, some investors remain leery of this cryptocurrency and its potential security issues. Unlike other cryptocurrencies, Binance Coin continued a slow but consistent trend upward after 2017. Because of its performance, Binance Coin has proven to be one of the more stable investment options, posing fewer risks.
wishing you all the best??
