All About Cryptocurrencies

All+About+Cryptocurrencies

Tyler Dang, Journalist

All About Cryptocurrencies

 

Many people know which cryptocurrencies are out there, such as Bitcoin, but most people don’t know how they work and what they really are. Cryptocurrencies are digital currencies used to trade online. Buying cryptocurrencies is a great way to invest in the future. You buy them when they are cheap, then sell them when the price of cryptocurrencies rises. Many people like to buy these cryptocurrencies because they think that they are the currency of the future. There are more than 13,000 cryptocurrencies out there, according to CoinMarketCap.com. 

Most cryptocurrencies are anything but stable, as they can decrease in value at any time. Take Bitcoin for example. It was trading at a value of $20,000 in December 2017. A year later, prices dropped to $3,200, and then Bitcoin went back to being one of the best cryptocurrencies a year after that. The best time to buy cryptocurrencies is when their price is low, and when you buy them, you have to trust that their price will go up. 

Here are the top 10 cryptocurrencies currently with the highest values. (Note: Cryptocurrencies are really unstable and can change their value at any point, so this list may not be accurate anymore.) At number 10, we have Dogecoin, which is worth $32.2 billion. Number 9 is SHIBA INU which is worth $32.3 billion. Coming in at number 8 is a USD Coin worth $32.4 billion. In the number 7 spot, there’s Polkadot, which is worth $45.1 billion. Number 6 is XRP, which is valued at $51.8 billion. At number 5 is Solana, which is worth $59 billion. Number 4 is Cardano which is worth $66.4 billion. Starting off the top 3, which is going to start being worth $81 billion, Binance Coin. At number 2, worth $497.6 billion, is Ethereum. Now, for the most valuable and well-known cryptocurrency that ever existed, one that we all saw coming, in spot number 1 is Bitcoin, worth $1.1 trillion. In the end, buying cryptocurrencies is a gamble and is all based on what’s going to happen.

 

Sources:

 

https://www.nerdwallet.com/article/investing/cryptocurrency-7-things-to-know

 

https://coinmarketcap.com/

 

Image source:

https://economictimes.indiatimes.com/markets/cryptocurrency/top-cryptocurrency-prices-today-shiba-inu-soars-74-altcoins-tank-up-to-10/articleshow/87325942.cms?from=mdr