Gone are the days when people used cash or debit cards for payments. Today, cryptocurrencies have become extremely common. They offer a ton of potential. If you are considering getting cryptocurrencies and want to learn more about the most famous cryptocurrencies in the market, you have come to the right place. This post takes a close look at the 8 most well-known cryptocurrencies. Each cryptocurrency has a lot to offer. Hence, it is important to take a look at each option.
- Clever
One of the most well-known cryptocurrencies that has already become famous before its official launch date is Clever. The cryptocurrency is expected to launch on 1st February, 2021. You can even sign up to see the countdown and keep in touch with the launch. For those of you who have never heard of Clever, it is a decentralized finance (DEFI) protocol that works to distribute automatic interest payments. If you are a token holder, you will earn a ton of money by holding CLVA tokens. Offering guaranteed automatic payments, you can never go wrong with this amazing cryptocurrency.
The best thing about Clever is that it is more than just a cryptocurrency. It has a pre-programmed routine cycle that is scheduled for more than 888 fortnightly cycles. Expect to earn up to 11 percent compound interest fortnightly with the cryptocurrency. It offers a smart way for you to increase your wealth in record time. Its generous interest rate is just what you need for a life of luxury.
- Bitcoin
Another famous cryptocurrency which you might have already heard of is Bitcoin. It is the pioneer of cryptocurrencies. Created in 2009, Bitcoin has revolutionized the entire financial industry and has paved the way for cryptocurrency-based payments. Before Bitcoin, nobody even thought about the possibilities of a digital currency. However, ever since its launch, just about every industry is giving cryptocurrencies a go. As the original cryptocurrency, you will find it to be simply perfect.
Bitcoin was created using open-source software and there are many claims over its owner. It uses blockchain technology for ensuring transparency in peer-to-peer transactions. This means that all the users are able to view transactions. But, there is no risk of the data getting forged since it is secured using an algorithm that is blockchain-based. Although the transaction would be visible to everyone, only the Bitcoin owner would be able to decrypt it using a private key. Thus, it offers an extremely safe way to make transactions. A great thing about Bitcoin is that there is no central authority whatsoever. Bitcoin users get to control who they send and receive money from. This makes it the perfect cryptocurrency for conducting anonymous transactions with anyone from across the globe.
- Litecoin
Litecoin is also a well-known cryptocurrency. It was introduced in 2011 to counter the growth of Bitcoin. Similar to any other cryptocurrency, Litecoin is open source. It has a global payment network which is entirely decentralized. Hence, there are no central authorities that users need to worry about. Some of the things that make Litecoin unique include faster transaction times, a higher coin limit of up to 84 million, and the ability to operate on various algorithms.
- Ethereum
Ethereum is a famous cryptocurrency that is open source. It was created back in 2015 and is based on blockchain technology. This means that ownership is transparently transferred and digital currency transactions can be easily tracked. The cryptocurrency runs on decentralized application programming code. Application developers can use it for paying transaction fees and much more. As the Ethereum network has grown significantly over the years. It offers tremendous potential to cryptocurrency enthusiasts and those interested in earning some money.
- Ripple
Ripple is not just a cryptocurrency, but it is also a digital payment network that is used for facilitating financial transactions. It was launched in 2012 and is now used by just about everyone interested in cryptocurrency. As a global settlement network, it offers the perfect platform for making low-cost, secure, and fast transactions. Anyone can use Ripple to transfer money. A great thing about Ripple is that it allows just about every type of currency to be exchanged. You can exchange USD, gold, EUR, Bitcoin, and much more. The platform connects with banks and is perfect for non person-to-person transactions.
- Z Cash
Z Cash is also a cryptocurrency that has been created using the initial Bitcoin code base. The idea behind Z Cash is the result of scientists from John Hopkins, MIT, and other scientific institutions working together to create a decentralized blockchain. It emphasizes the importance of privacy. This means that users get to send and receive Z Cash without having to disclose the amount, the receiver, or the sender.
- Tether
Tether is a cryptocurrency that became popular due to the group, stable coins. It words to peg market value of the currency to help reduce volatility. As most digital currencies today experience significant volatility, it makes sense to opt for Tether. Hence, its popularity has grown considerably ever since it was first launched back in 2014. Price fluctuations are smoothened out by Tether similar to other stable coins. This has made it extremely popular. Users who are otherwise cautious of using a cryptocurrency will find Tether to be a great alternative.
- Libra (Diem)
Finally, Libra has made the headlines ever since Facebook discussed its launched. It is the most-hyped cryptocurrencies in the market. The rumours concerning its development caused a huge stir online. It is due to these rumours that the cryptocurrency has experience so much delay. The world of social media has changed considerably since its speculation. Libra is also known as Diem today.
Conclusion
Once you have gone over this post, you will know about the 8 most well-known cryptocurrencies. Now, you can get the cryptocurrencies that you like most. Make sure to do more research on your desired cryptocurrency before making any transaction. It will allow you to make an informed decision.