Cryptocurrency is the talk of the town these days. A global phenomenon that is getting traction everywhere. So, we thought to do an in-depth research on this interesting concept. Grab some deeper insights on the hot and trending topic of “Cryptocurrency” or “Digital currency”. We are also sharing an exclusive list of Top 10 cryptocurrency to invest in, one of the best list to enhance your knowledge on Cryptocurrency. Please note that this list ranks the currencies by their market cap and should not be taken as an investment advice !!
Looking back, we got to know that the first and the most important cryptocurrency was “Bitcoin” that emerged in the year 2009.You undoubtedly have heard of “Bitcoin”.Right !
The market for cryptocurrency is getting fast and extremely wild with each passing day. What are the possible reasons for the same? The prices are driven by the increase in mainstream adoption and rising awareness of crypto currency amongst the general public. Moreover, the demand and supply are the crucial factors that impact the prices of this digital currency.
Of course, the sky rocketing prices of “Bitcoins” recently has arisen the interest of potential investors in different types of cryptocurrency throughout the world.
What is Cryptocurrency? Meaning to know
As per Wikipedia: “A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets.”
In simple words, Cryptocurrency is a form of digital money or a decentralized digital currency, as it is said. It seems to be a fast and convenient means of payment world-wide. The ever growing demand and rising interest of people in cryptocurrency is letting its prices touch new heights.
Let us get started…
Firstly, Welcome to the “Virtual Currency World”. Tighten your seat belts and get ready to take off towards a new digital world.When you land you shall be surrounded by a whole range of digital currency names and a bit to know about each of them.
Till recent, BITCOIN seemed to be the emerging winner amongst various cryptocurrencies. Its record breaking streak continued, analysts and investors being stunned by the soaring prices of this digital currency. However, the wide fluctuations in the daily prices of Bitcoin, its roller-coaster price ride over the past few months is surely one of the crucial factor to be considered.
Followed by bitcoin, numerous other cryptos gaining traction are: Ethereum, Ripple, Stellar and Litecoin, to name a few.
Hey, look while I was drafting this blog, the bitcoin flew past $11000 and while reviewing my drafted article, Bitcoin re-positioned at $10000. Ah…and now when I finally published this blog just after few hours, it again regained and crossed the $11000 mark. So, much fluctuations and momentum at such a fast pace. Now, that’s really hard to digest! Where this all is heading towards is not easy to understand.
On 7th Dec’17 : BTC price Blows past $14k and about to touch $15k mark.
On 21st Dec’17 : BTC prices reach an all time high and cross the 17$ mark.Unbelievable !
On 22nd Dec’17 : Oh look…BTC price falls, dropping below $12k mark.
On 24th Dec’17 : BTC again regains and reaches above $14k mark.
On 4th Jan 2018 : BTC retains itself near the $14k mark.
On 29th Jan 2018: BTC price ranges a bit above $11k only. Where will it move now? What we shall see in the coming days, an increasing or a decreasing trend? No idea! We can just wait and watch…
But, the sharp decline in prices is really a point of concern. Is this a bubble that is likely to burst? or Do we have a scope for this cryptocurrency to further grow and make its unique place? The answers to these queries shall become clear only with time.
But, we can at least discuss about some of the popular Cryptocurrencies in the world that are presently attracting investors and traders at a large scale.
Top 10 Cryptocurrency in World: Best List 2018
Image Source: Coinmarketcap.com
The details in this blog are on “as is basis”. Cryptocurrency prices are subject to wide price fluctuations and may vary even after a short interval of time.
Let us discuss in detail on the 4 most popular Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Ripple. However, we have mentioned names of others that rank high in the Top 10 Cryptocurrency List.
Who hasn’t heard of this digital decentralized currency “Bitcoin”? Bitcoin is the most recognised and the topmost in the list of Top 10 cryptocurrency in the world. Bitcoin is a world-wide digital currency based on the peer to peer technology system wherein transactions are recorded in public distributed ledger referred as block chain. Bitcoins can be traded for goods and services provided the vendors accept bitcoin payments.
Bitcoin prices have been shooting up significantly and reached above $11000 per coin in November 2017 and it crossed the $14000 mark in the first week of December. This rise just seems to be unstoppable. Can you just imagine how high the BTC value has gone in the past few months.
|Year||Bitcoin/BTC Price (USD)
|8th March 2018||BTC price ranges around $10k only. Let's see where it goes now!|
|29th Jan'18||BTC price ranges a bit above $11k only.|
|4th Jan'18||BTC price retains at around $14k and above.|
|24th Dec'17||BTC recovers, a sigh of relief for investors! Reaches $14k again.|
|22nd Dec'17||After soaring high,BTC price drops below $12k now. A roller coaster ride !|
|17th Dec'17||BTC reaches an all time high : Blows past $19k now. Amazing!|
|15th Dec'17||Priced above $16k|
|7th Dec'17||Priced $14k and above|
|1st Dec'17||Sky-rocketed above $10k : Stunned the market observers and investors|
|15th Nov'17||Price was above $7k|
|1st Nov'17||Price was between $6k to $7k|
|15th Oct'17||Price was between $5k to $6k|
|1st Oct'17||Price was around $4000-$4300|
You can buy bitcoin with debit or credit card instantly. You can store bitcoins in Bitcoin wallets. However, Bitcoins can be used anonymously which is the major point of concern for different countries. This is why Governments of few countries are putting restrictions on the usage and trading of bitcoins. While some have already legalised this innovative mode of digital payment system.
The next addition to the list is Ethereum which is a decentralised platform for applications running exactly as being programmed. This is built to run smart contracts and based on a custom build blockchain. There are Ethereum wallets to hold and secure ether, deploy and use smart contracts.
All this technical jargon seems too much for a common man to understand. So, let us just simplify it a bit…
Ethereum is an open software platform based on blockchain technology that focuses on running the programming code of any decentralised application (also called as Dapps).
Ethereum’s rise has also been meteoric in the year 2017 and it has grown almost 48x from 10 USD to 480 USD in the year 2017 itself. Ethereum presents itself more like a platform than a currency and with the rise of Dapps, ethereum can emerge to be a really good investment in future.
To grab further details you may also like to go through: Buy Ethereum with credit card or debit card instantly !
Ripple is a transaction protocol for Global Payments. It helps in transmitting the payments internationally at a very low fees. They have esteemed clients like American Express, SBI Holdings, Japan. This helps the investors build confidence in the protocol and that certainly explains it as fourth largest crypto in terms of market cap.
4. Bitcoin Cash(BCH):
Bitcoin Cash is one of the most popular hardforks of the Bitcoin Core. Its the fork that supports Segwit2x i.e higher block sizes. It started with all the investors getting the same amount of BCH as BTC. It had humble beginnings but the month of November saw the price of BCH skyrocket to as much as 1800 USD i.e. almost 6x the initial listing price. Its rise had even helped it overtake ETH in terms of market cap.
While Bitcoin seems to be the most famous cryptocurrency out of the whole lot. The potential investors are keeping an eye on the wide price fluctuations in other trending virtual currencies as well.
Remember, one needs to be cautious while investing in risky assets no matter how high the profits tend to seem.
The Governments of various countries are also stepping up to regulate the cryptocurrency market transactions. Few have approved and legalised its use while others are still thinking to take certain actions in this regard in the near future. While there are some who have also advised investors to stay away from this speculative bubble.
However, this Crypto wind is already blowing with full force at a global level, disrupting the financial space to a larger extent. We can only wait and watch for its acceptability or non-acceptability and related consequences ahead: “A beginning of a new digital age” or “A bubble likely to burst” a query that is still not answered.
Risk Warning : “Cryptocurrency” is inherently risky asset. We are not endorsing any of the above names. Please do your own due diligence on the cryptocurrencies mentioned as well as the exchange/trading site you want to trade on before entering the trade. This blog is for information purpose only and can’t be constituted as a professional advice in any regard. Fintrakk.com or any of its representatives are not responsible for any losses occurring due to investment in cryptocurrency!!
Did you enjoy our post on the Top 10 Cryptocurrency in World? What scope and future do you see for Cryptocurrency in this changing virtual world? Is it an advancement in the digital era that shall make things simpler? or Is it just like another bubble that shall have its own implications? Looking forward to hear your valuable opinions.