Today we will talk about the most astounding and surprising field for making money sitting at home and The Crypto Currencies.
"From Bitcoin to Dogecoin, Litecoin & Ethereum, there are many types of digital money called cryptocurrencies. It can be confusing when you're new to this. To make it easier, here are the top 10 cryptocurrencies. We rank them based on their total value in the market, which means the combined value of all the coins people use."
What Are Cryptocurrencies?
"Cryptocurrencies are like digital money. They use technology called blockchain, so no bank or government controls them. There are many types, around 24,630 of them! People believe the total value of all these digital coins could be around $4.94 billion by 2030."
1. Bitcoin (BTC) Market cap: $959.8 billion
"Bitcoin, created in 2009 by someone named Satoshi Nakamoto, was the first-ever digital money. It works on a system called blockchain, like a giant digital ledger shared on thousands of computers. To keep it safe, new transactions are checked through a tricky puzzle-solving process called proof of work. Bitcoin's value has shot up a lot – in 2016, it was $500, and now, in 2024, it's around $48,902, growing a whopping 9,680%."
2. Ethereum (ETH) Market cap: $314.9 billion
Ethereum is like a special kind of money, and it's also a computer system that lots of computer programmers like to use. These programmers love it because they can create cool things on it, like "smart contracts" that do things on their own when certain rules are followed, and special digital items called "NFTs."
Ethereum's price, or the value of this special money, has gone up a lot. Back in April 2016, you could get one Ethereum for about $11, but by the end of February 2024, it went up to around $2,620! That's a really big increase—almost 23,722%! It's like if you bought a toy for $10 and later it became worth almost $2,372. It shows that a lot of people think Ethereum is valuable and want to have some.
3. Tether (USDT) Market cap: $96.7 billion
Tether (USDT) is a different kind of cryptocurrency. It's called a stablecoin because it's tied to regular currencies like U.S. dollars and Euros. This connection is like having a promise that one Tether coin will always be worth the same as one of those regular coins. This makes Tether more stable and less likely to change in value quickly, which many people like because it's not as risky as other cryptocurrencies that can go up and down a lot. Investors who want a more predictable value often prefer Tether.
4. Solana (SOL) Market cap: $48.2 billion
Solana is like a special computer system. It helps with things like online money (DeFi), apps (DApps), and smart contracts. Solana works in a unique way to make transactions fast and safe. The money used on Solana is called SOL, and it makes the whole system run.
In 2020, when Solana started, one SOL was worth $0.77. But by February 2024, its value went up a lot, to around $110.19. That's a huge increase of 14,210%. It means if you had invested in SOL in 2020, your money would have grown a lot by 2024.
5. Binance Coin (BNB) Market cap: $47.9 billion
- What is BNB? Binance Coin (BNB) is like digital money you can use on the Binance platform.
- What's Binance? Binance is a big online place where people exchange cryptocurrencies.
- How can you use BNB? You can use BNB to trade (swap) cryptocurrencies, pay fees, or even plan your trips.
- Any special features? BNB is not just for trading. It's like a versatile tool; you can use it in different ways.
- How did it grow? Imagine in 2017, one BNB was only worth $0.10. But by February 2024, its value jumped to about $320! That's a massive increase of 320,295%.
So, BNB is not just a coin; it's like a multi-purpose tool for doing things in the crypto world, and its value has grown a lot over time.
6.XRP (XRP) Market cap: $28.3 billion
XRP is a digital money created by some folks who also started Ripple, a tech company dealing with digital transactions. You can use XRP on Ripple's system to easily swap different kinds of money, like regular dollars or other cryptocurrencies.
In early 2017, one unit of XRP was worth $0.006. By February 13, 2024, the price had jumped to $0.52, a huge increase of 8,539%.
7. U.S. Dollar Coin (USDC) Market cap: $27.8 billion
Like Tether, USD Coin (USDC) is a special kind of digital money. Imagine it as a digital version of the regular dollar, and it's called a stablecoin because its value is always supposed to be the same as one U.S. dollar. So, if you have 1 USD, you should be able to get 1 USDC.
Think of USDC as having a magical power from Ethereum, which is like a big computer. This magic makes it easy for people to use USD Coin to buy things and do business all around the world. It's like having a super reliable digital dollar that you can use globally for buying, selling, and doing transactions without any complications.
8. Cardano (ADA) Market cap: $19.1 billion
Cardano (ADA) came onto the cryptocurrency scene a bit later. It's special because it uses a method called proof-of-stake, which makes transactions faster and uses less energy compared to other methods like Bitcoin's. Cardano is like Ethereum because it allows for smart contracts and decentralized apps, all powered by its own coin, ADA.
Now, ADA's growth has been steady. Back in 2017, you could get ADA for just $0.02. But by Feb. 13, 2024, its price went up to $0.54, a big increase of 2,594%.
9. Avalanche (AVAX) Market cap: $14.5 billion
Avalanche (AVAX) is good for two main reasons: it makes transactions super quick, and the fees for these transactions are very low. Also, a lot of money is deposited in Avalanche for decentralized finance activities. The total value locked (TVL) in Avalanche shows how much money is put into things like staking, lending, or liquidity pools.
When the TVL is high, it means many people are using Avalanche for these activities. This is a sign that people like and trust it. As of today, the price of Avalanche is $39.
10. Chainlink (LINK) Market cap: $11.6 billion
In simple terms, Chainlink is like a bridge between different computer systems. It's special because it can connect information from outside these systems, making them smarter. For example, it helps one computer system use data from the internet or make payments. Big companies like Huobi and Brave New Coin are interested in using Chainlink. Right now, the cost of one Chainlink is $39.
In the next articles, I will tell you the best AI Coins to invest and create a huge wealth.
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