Cryptocurrencies are a bit overwhelming especially if you’re just getting started. You might even confuse other cryptos as Bitcoin. If you are diving into the crypto world, you’ll get to know the thousands of cryptos available right now in the market. We will give you a compilation of some of the best cryptocurrencies in the US market right now. Read on to know more.
Bitcoin
Known as the original cryptocurrency, Satoshi Nakamoto created Bitcoin in 2009. It runs on a blockchain just like the majority of cryptocurrencies.
To keep it safe from hackers and fraudsters, it utilizes a process called proof-of-work. So, in order to add or alter information, users have to solve a cryptographic puzzle to verify their ownership.
As of recent, Bitcoin’s value is at around $26,904. That’s a huge leap in comparison to 7 years ago when its value was only $500. This is proof that Bitcoin is really among the top cryptos and that it won’t go down anytime soon.
Dogecoin
What started out as a joke in 2013 has become one of the most prominent cryptocurrency in the market today. Dogecoin is a decentralized peer-to-peer cryptocurrency. It uses proof-of-work technology similar to its precursor Litecoin. Thanks to its low cost and endless supply, Dogecoin quickly became a favourite.
Its value went up by 300% just 72 hours after its launch. Dogecoin's volume increased by the millions during its first three days. Hence, becoming so popular that it even caught Elon Musk’s attention, making him as one of its major backers.
USDT
Tether, or USDT, is a stablecoin unlike other types of cryptocurrencies. As the name implies, its value is more stable and consistent since it is backed by fiat currencies like the US dollar and Euro. Theoretically, Tether’s value is the same as those denominations. That’s why investors prefer this over other more volatile cryptocurrencies.
Ethereum
Also known as ETH, Ethereum is the second largest cryptocurrency next to Bitcoin. Its launch in 2015 is one of the most memorable presales in cryptocurrency history. The ETH presale started in 2014 and lasted around 42 days.
In that short span of time, it was able to acquire close to $18 million. Ethereum is both a blockchain platform and a cryptocurrency. Program developers love it because of its potential use in applications and NFTs.
Cardano
Entering the crypto scene somewhat late, Cardano made a name for itself by utilizing the proof-of-stake (POS) validation process. This differs from Bitcoin’s proof-of-work (POW) because it enables faster transactions with significantly less energy usage.
Cardano is similar to Ethereum as it also enables smart contracts and decentralized applications. From 2017 to 2023, Cardano’s token has seen an impressive growth of 1,199%.
Final thoughts
Cryptocurrency has proven its importance and convenience in numerous fields. It has greatly helped the field of finance, being an alternative payment method. Others are also using its potential as investments. Meanwhile, the gambling sector continuously utilizes cryptocurrencies. Now, can see a huge number of crypto casino USA sites with a huge following. Whatever you want to use cryptos for, it is important to do your research before diving head-on.
