Which cryptocurrencies exist?
The cryptocurrency landscape is enormously diverse. With few barriers to overcome, almost anyone who wants to and understands blockchain technology can create their own cryptocurrency. There are more than 1,600 cryptocurrencies offered on major, mid-sized and specialized exchange platforms.
About these cryptocurrencies and digital tokens, it is fair to say that the number that has real significance can be reduced to a two-digit list. This smaller group can furthermore be narrowed down to cryptocurrencies that are traded enough to have significant liquidity, or that are regularly used to pay for uses of blockchain platforms as utility tokens. In this category, we could most likely include between 20 to 30 digital currencies.
The latest news of the rise of the Blockchain increasingly predicts the consolidation of virtual currencies and also the arrival of more and more investors (even governments have already begun to buy these assets). We tell you which are the cryptocurrencies of the moment and those that seem to have the most future.
Bitcoin has not only set the trend, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network but has become the de facto standard for cryptocurrencies, inspiring a growing legion of followers and spin-off companies.
Ehtereum is a great alternative to Bitcoin and the second virtual currency in terms of capitalization. Far from the leader yet and dismissed the possibility of it surpassing it as digital money, its strength is in the development of applications and how it uses smart contracts in development environments.
Ethereum and Ether were already some of the most profitable cryptocurrencies in years past.
An alternative to investing directly in Ethereum is to buy cryptocurrencies based on technology such as Aragon or Stox.
Monero is an anonymous cryptocurrency. With it the details of the coin transaction cannot be traced. That is its main strength over other options and what gives it value.
Known as the Ethereum of China its future is going to be linked to what the Asian giant decides about the future of cryptocurrencies. The Chinese government has already announced greater control over this sector.
Ripple XRP is another utility currency. Its blockchain platform is set up to facilitate international fiat currency transfers and increase efficiency. Closely linked and backed by several banks since its launch, Ripple XRP is considered the cryptocurrency of the establishment.
The number of transfers made through the Ripple platform has gradually grown over the years and there is a real possibility that it will become part of the traditional financial system.
Cryptocurrencies have had a revolutionary impact on the world economy. The fact that they are not controlled by a government or bank, that they are not affected by the inflation of a given country, that they allow working under certain anonymity on a platform that is, at the same time, secure and growing makes them a very useful tool today, so more and more people are deciding that it is the right time to invest in cryptocurrencies.