Top Cryptocurrencies: Bitcoin, Ether, BinanceCoin
Cryptocurrencies (Pixabay)
What is the best cryptocurrency by value right now? Here is our guide to Bitcoin, Ethereum, and BinanceCoin with information on each of them.
1. Bitcoin (BTC)
Market cap of Bitcoin : $ 1.08 trillion
Bitcoin value: $ 57,635
The History of Bitcoin: Bitcoin has existed since 2008 and is the blue chip cryptocurrency. It has by far the largest market capitalization, the highest coin value, and the largest user network.
Bitcoin was created by an unknown person or group named Satoshi Nakamoto. It was supposed to be the money of the future, and even though you can use it today to buy many goods and services, you wouldn't use it to buy a cup of coffee because the transaction cost would be too high.
Instead, think of Bitcoin as the gold of the future – not really useful for day-to-day transactions, but you want to have some for its stored value. It is also like gold in that it has limited supply, which is one of the things that makes Bitcoin so attractive to investors – a total of 21 million Bitcoins will ever be released, which makes Bitcoin inflation-proof.
Bitcoin Performance History: Like all cryptocurrencies, Bitcoin has started to be worth practically nothing. In 2017, it went from under $ 1,000 to over $ 20,000, but in one year it fell by about $ 4,000. At the end of 2020 it resumed skyrocketing, this time from around $ 10,000 to the $ 55,000 more orbit it is in today. You can invest in Bitcoin on major platforms such as BitQT and many others. bitindex prime and is easy to use.
2. Ethereum (ETH)
Market cap of Ethereum: $ 477.7 billion
Ether value: $ 4,126
The Story of Ethereum: If there is another contender for the best cryptocurrency stock, it is Ethereum. But it doesn't compete with Bitcoin. It is important to note that many so-called cryptocurrencies are not direct currencies like Bitcoin. Some, like Ethereum, are instead unique technologies that also have a coin component. In the case of Ethereum, its currency is called Ether and it can be used in applications running on the Ethereum platform.
Ethereum is the leader in what are known as these "smart contract" platforms. While Bitcoin was created for a use case – as a currency – Ethereum was founded by Vitalik Buterin in 2015 with bigger and broader ambitions. The blockchain it runs on is programmable, which means it can run programs or apps in a decentralized way, i.e. on millions of computers at the same time. This opens up many possible use cases, from technology and finance to games and collectibles, making Ethereum an attractive investment.
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Ethereum Performance History: Over the past year, Ethereum's price has soared from around $ 200 to well over $ 3,000. In fact, it recently crossed $ 4,000 for the first time in early May and is currently trading at an all-time high of over $ 4,100.
How to buy Ethereum: You can buy ETH on major cryptocurrency exchanges, Robinhood and PayPal.
3. BinanceCoin (BNB)
BinanceCoin market cap: $ 102 billion
BinanceCoin value: $ 661
BinanceCoin Story: BinanceCoin was launched in 2017 by cryptocurrency exchange Binance, 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 with other cryptocurrencies, and to pay for certain goods and services. Each quarter, Binance uses 20% of its profits to buy back and destroy BinanceCoin. This will continue until Binance buys back and destroys 50% of the total supply, making its coin scarcer and therefore more valuable.
BinanceCoin Performance Timeline: Since launching in 2017, BinanceCoin has made a long and slow climb to around $ 60 per coin, before rising in February 2021. As of today (Monday May 10) it has been trading in the $ 660 range.
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The Top Cryptocurrency article: Bitcoin, Ether, BinanceCoin comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/top-criptovalute-bitcoin-ether-binancecoin/ on Wed, 03 Aug 2022 05:00:33 +0000.