From Bitcoin and Ethereum and Tether, there are millions of different digital currencies, which you can count on when you first get started in the crypto world. To help you get on with your ambitions, in this article here are the top 7 cryptocurrencies based on their market value, or the total value of all the coins in circulation until now.
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| best Cryptocurrency to invest In April 2022 |
Bitcoin (BTC)
Bitcoin (BTC) was created in 2009 by someone whose pseudonym was Satoshi Nakamoto, and is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or ledger recording transactions distributed across a network of thousands of computers. Because additions to distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept safe and secure from fraudsters.
Bitcoin price has skyrocketed as it has become a household name. In May 2016, you can buy Bitcoin for about $500.
As of April 1, 2022, the price of one Bitcoin was over $44,000. That's a growth rate of about 7,800%.
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Ethereum (ETH)
Ethereum, as a cryptocurrency and blockchain platform, is a favorite of software developers because of its potential applications, such as so-called smart contracts that execute automatically when conditions are met and non-fungible tokens (NFTs). Ethereum has also experienced tremendous growth.
From April 2016 to the end of March 2022, its price went from around $11 to over $3,000, up more than 27000%.
Tether (USDT)
Unlike some other forms of cryptocurrency, tether is a stablecoin, which means that it is backed by tangible currencies like the US dollar and the euro and actually holds a value equal to one of these two denominations. In theory, this means that the value of Tether is supposed to be more consistent than that of other cryptocurrencies, and it is preferred by investors wary of other currencies' extreme volatility.
Binance Coin (BNB)
Binance coin is a form of cryptocurrency that you can use to trade and pay fees on the Binance platform, which is one of the largest cryptocurrency exchanges in the world. Since the launch of this coin in 2017, Binance Coin has expanded in the past simply to facilitate transactions on the Binance exchange platform.
Now, it can be used for trading, payment processing or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
The price of BNB in 2017 was $0.10. By the beginning of April 2022, its price had risen to about $413, an increase of nearly 410,000%.
U.S. Dollar Coin (USDC)
Like Tether, the US Dollar (USDC) is a stablecoin, which means that it is backed by the US dollar and aims to achieve a $1 to $1 ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.
XRP (XRP)
Created by some of the founders of Ripple, a digital technology and payments processing company, XRP can be used on that network to facilitate exchanges of different types of currencies, as well as fiat currencies and other major cryptocurrencies. At the beginning of 2017, the price of XRP was $0.006.
As of April 2022, it is priced at $0.80, which is an increase of more than 12600%.
Solana (SOL)
With the goal of developing Solana to help support the uses of decentralized finance (DeFi), decentralized applications (DApps), and smart contracts, Solana is working on unique hybrid proof of ownership and proof of record mechanisms that help it process transactions quickly and securely. SOL, Solana's original token, runs the platform.
When it was launched in 2020, the SOL price started at $0.77. By April 1, 2022, it was priced at around $101, an increase of nearly 13,000%.
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