Top 5 Best Cryptocurrencies in the world | by Qryptography | Coinmonks | Oct, 2022 - Rvpg media

Top 5 Best Cryptocurrencies in the world | by Qryptography | Coinmonks | Oct, 2022

best cryptocurrencies in the world

Do you want to buy some crypto and are you confused on what to buy? Are you tired of all kinds of scams running in the crypto market nowadays with the so called ponzi schemes, a great example is Terra Luna xD. Then you have to care about what are some of the most reliable and trusted cryptocurrencies that are well established over the last few years.

In today’s article we are going to discuss about the Top 5 Best Cryptocurrencies in the world that would give you the most perfect start to your awesome crypto journey.

Best thing is that all of the cryptocurrencies that we are going to talk about are going to be well established and trusted cryptocurrencies since the past few years thus helping you build trust in them.

So, let’s get started with the List of The Top 5 Best Cryptocurrencies in the World:

bitcoin

Introduction: Bitcoin is the worlds #1 Cryptocurrency, It was the first cryptocurrency that was ever created, Bitcoin brought the idea of decentralized finance to the world and after bitcoin many other cryptocurrencies kept coming, but the one and only original cryptocurrency is Bitcoin and it is the most popular one as well.

Launched On: January 3, 2009

Creator of Bitcoin: Satoshi Nakamuto

Blockchain Mechanism: Proof-of-Work

Supply Limit: 21 Million Bitcoin

Market Cap: $352 Billion (highly volatile)

All time High Price: $67,566.83 on Nov. 8, 2021

So basically, Bitcoin is the king of all cryptocurrencies, It has the highest trading volume and is highly volatile and also has the highest value compared to any other cryptocurrency. Bitcoin is the most legit cryptocurrency as well as it was the first cryptocurrency that came into practice.

ethereum

Introduction: Ethereum is the world’s 2nd largest cryptocurrencies based on price, market cap and popularity. Ethereum was created to fix the limit problem with bitcoin, as Ethereum doesn’t have the 21 Million Supply Limit, it is unlimited. The Smart Contracts aspect of Ethereum makes it very popular as well.

Launched On: 30 July, 2015

Creator of Ethereum: Vitalik Buterin

Blockchain Mechanism: Proof-of-Stake

Supply Limit: Unlimited

Market Cap: $156 Billion (highly volatile)

All time High Price: $4,878.26 on Nov 10, 2021

So Ethereum is also a very great cryptocurrency, the use case for Ethereum are absolutely amazing, that unlimited supply is one of the most revolutionary things as it can be used for payments forever, and the value can keep going up forever as supply is unlimited.

Click here to learn more about how ethereum switched from the proof-of-work to the proof-of-stake mechanism, and how it is not possible to mine ETH anymore. Also learn how you can use it to your benefit.

tether

Introduction: Tether USDT is a interesting cryptocurrency as it brings the idea of having a cryptocurrency that has the price as that of US dollar. That’s Why it is called USDT Us Dollar Tether. These type of coins which stick to the value of a fiat currency are known as stablecoins and USDT is the Largest Stablecoin.

Launched On: July 2014

Creator of Tether: Craig Sellars

Blockchain Mechanism: N/A (It is a stablecoin they can only be bought directly and can’t be staked or mined)

Supply Limit: Unlimited

Market Cap: $67 Billion (not at all volatile as it’s a stablecoin)

All time High Price: N/A (it’s usually $1 or max $1.0001)

So USDT can also be a very useful cryptocurrency for some use cases, it is often used for making stable passive income as it offers APY(Annual Percentage Yield) with things like lending and loans.

binance coin

Introduction: Binance Coin(BNB) is the world’s 4th largest cryptocurrency based on price, market cap and popularity. It is created by the world’s largest crypto exchange Binance. As Binance is such a trusted crypto exchange, that’s why the Binance Coin (BNB) holds high value for us.

Launched On: July 2017

Creator of Binance: Changpeng Zhao

Blockchain Mechanism: Proof-of-Stake

Supply Limit: 200 million BNB Tokens

Market Cap: $46 Billion (highly volatile)

All time High Price: $690.93

As Binance is such a big company in itself, The Binance Coin(BNB) is a very awesome cryptocurrency and it has a lot of growth potential in the future and is a investment that is definitely worth looking into.

Ripple

Introduction: Ripple(XRP) is a very interesting cryptocurrency as it doesn’t work based on proof-of-work or proof-of-stake, it has it’s own Consensus Protocol mechanism. And also an awesome feature about Ripple(XRP) is that it can do fast transactions.

Launched On: June 2012

Creator of XRP: David Schwartz, Jed McCaleb, and Arthur Britto

Blockchain Mechanism: Consensus Protocol

Supply Limit: 1 billion XRP

Market Cap: $10 Billion (highly volatile)

All time High Price: $3.40 on Jan 07, 2018

So Ripple(XRP) is an awesome cryptocurrency that is very cost friendly while sending transactions. And also it has got insane potential for a lot of price increase in the future.

ethereum

In 2022, the best Cryptocurrency that has got insane potential is Ethereum(ETH). ETH has proved to be super useful to this crypto community with their unlimited supply. Also many many tokens run on the Ethereum blockchain, so it has the best blockchain.

The smart contracts of Ethereum are absolutely next level for the multiply use cases they have. Also, Ethereum is the only cryptocurrency that I think will surpass Bitcoin at some point in it’s price, as bitcoin can’t go up forever as it is limited.

Also, after the ETH merge the mechanism has been shifted from proof-of-work to proof-of-stake, so ETH mining is no longer possible, which makes it a cheaper and more energy efficient cryptocurrency compared to Bitcoin.

So after reading the above article you would have got an idea of what cryptocurrency is the best and what cryptocurrency you should invest in. There is no good or bad cryptocurrency on the list, you can choose whatever one you want and what suits you the best, as everyone doesn’t understand every crypto, so invest in a crypto that you personally understand.

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