Technology’s continuous evolution has changed the face of almost every human activity. Day by day, new gadgets and devices are developed by programmers and scientists. New ways to improve our daily activities and hobbies. Gone are the days when we would spend hours in a line in the supermarket. Instead, our groceries can be delivered to our home in a few minutes and a few clicks. We have said goodbye to the noisy and uncomfortable time at the cinema with streaming services like Netflix and Amazon Prime. Even new releases are coming to streaming services at the same time as the theater. Even sports have been altered by the hand of technology. A prime example is the growing popularity of the eSports community and its professional stage.
As expected, the economy has also seen the effects of the evolution and development of new technologies. One of the most controversial and impactful new trends in the economy is cryptocurrencies. An economic anomaly made manifest, cryptocurrencies have taken the world by stride, and the current market value dwarfs many times any other physical currencies. Thanks to the general interest these currencies create, bitcoin casinos and complete crypto casinos are now a reality. Today dear readers, let’s look at some of the most important cryptocurrencies in the world.
What Is A Cryptocurrency?
Before we tackle the giants in the crypto world, we need to understand what cryptocurrency is. A cryptocurrency is a digital currency that holds no link to any financial institution or government around the globe. This is what economists and analysts refer to as decentralization. One of the prime reasons why cryptocurrencies are so popular around the globe. A decentralized currency means no handling fees, no third parties or governing bodies. Which has helped the most popular cryptos achieve the extreme value they have in the market. Security is also the main selling point of all cryptos. Cryptocurrencies are handled by the blockchain method, making it virtually impossible for someone to forge or hack any crypto, something completely impossible to achieve with a physical currency. All in all, for many analysts, cryptocurrencies are a double-edged sword, as it is a volatile market. Now that we have a basic understanding of the ins and outs of cryptos let’s take a look at the titans of the crypto world.
The King of Kings – Bitcoin ($40.000+)
The undisputed king of cryptocurrencies, Bitcoin’s market value dwarfs many times any other cryptocurrency. Creating a new digital Bitcoin wallet is the goal of many investors and entrepreneurs, as its economic history, while completely unpredictable and unstable, has always shown growth. Bitcoin lost a lot of value at several points throughout its history, reaching an all-time low of almost 80% of lost value. On the other hand, its current value is over 10.000% more than its original value, which completely baffles the economy. Bitcoin has been with us for more than a decade, and with its current value, we can expect it to be with us for years to come.
Strong Second Place – Ethereum ($3000+)
While the difference between first and second place is more than ten times the value, Ethereum is still a pretty solid cryptocurrency to consider when investing. Especially for newbies in the crypto world. Ethereum’s market history has been much less volatile than Bitcoin’s, showing a slow but steady increase in its value. One of the main selling points behind Ethereum is that it has no supply cap, while the supply cap for Bitcoin is 21,000. This helps it keep a steady posture behind the king of kings, posing itself for replacement if Bitcoin ever loses strength. Also, Ethereum supports the development and implementation of decentralized apps and smart contracts while also acting as a digital currency and store of value. Finally, Ethereum’s blocks are validated every 12 seconds, in stark contrast to Bitcoin’s 10-minute span between each validation. Many analysts believe that in due time, Ethereum will surpass Bitcoin.
More To Come
Sadly, our space falls short of the huge amount of cryptos we can and need to talk about. While Bitcoin and Ethereum keep a firm grip on their positions in the crypto world, many other contenders rise and fall in the digital ring of cryptocurrencies. Tether, BNB, and Solana are just some of the names that come to mind when we need to talk about cryptos, let this article be a beginner’s guide on the crypto world, and may it be helpful for every potential crypto fan out there.
Featured Image by MichaelWuensch from Pixabay