That coin you have invested in is quite unique. Why did you choose it for investment? My medals oblongata fails to comprehend the DNA used in the choice of such a coin in Cryptography.
The number of coins in 2023 are amazingly very massive. Choosing from this vast number calls for Prudence and an eagles eye towards the choice. As the number of coins cruise towards the more than 21,800 mark, not all coins are active and valuable. There exists many more dormant and valuable coins as comparable to the active. From the gigantic figure, while bearing in mind more coins are in the process of being brewed, we are left with less than 10,000 active coins.
However, not all cryptocurrencies are. active or valuable. Discounting many. “dead” cryptos leaves only around 9,314 active cryptocurrencies.There. are upwards of 300 million cryptocurrency users across the. globe. And approximately 18,000 businesses now accept a form of. crypto as payment.
by Josh Howarth
November 25, 2022
However, if ambushed and told to name about 10 cryptocurrencies, am sure Bitcoin will top the list, followed by Ethereum in that order. Without mincing adjectives, Bitcoin reigns in this pulsating DNA of cryptocurrency this year.
Bitcoin (BTC)
- Market cap: $443.7 billion
This is the maestro and king of all cryotocurrency. It leads the pack and all are in tow.
Ethereum (ETH)
Market cap: $200.7 billion
This coin remains the favourite of market developers. It responds well even to Non Fungible Tokens (NFTs)
Tether (USDT)
- Market cap: $68.2 billion
This is a stablecoin backed by the US Dollar and this makes it unique to other coins.
Binance Coin (BNB)
Market cap: $52.0 billion
This is the coin one uses on the Binance Exchange which is one of the largest exchanges in the world. It is commonly known as the Binance coin.
U.S. Dollar Coin (USDC)
Market cap: $41.9 billion
The coin is a stablecoin backed by the US Dollar and developed by Ethereum.
XRP (XRP)
Market cap: $20.2 billion
It is commonly referred to as the Ripple coin because it was developed by the same developers of Ripple.
Binance USD (BUSD)
Market cap: $16.2 billion
Founded by Binance and paxos to develop a coin backed by the US Dollar.
Cardano (ADA)
Market cap: $13.4 billion
This coin is known for its early development of proof-of-stake validation.
Dogecoin (DOGE)
Market cap: $12.1 billion
The coin began as a joke but now it has developed into a great coin. It has no control of the coins produced thus being prone to devaluation.
Polygon (MATIC)
- Market cap: $10.8 billion
Developed by Matic Network.
Why Choose A Certain Coin For Investment And Trade.
Before considering buying or investing in a certain cryptocurrency, One must gain enough knowledge in the crypto market. You need to know the history, what are cryptos and many other factors affecting these digital currencies. It is useless to invest in a dormant coin or a coin which in future will not be exchangeable.
- Study about the coin. Knowledge about coins will equip you so as to know your investing strategies. There is a slogan which says you cannot earn without learning.
- Study about the volatility of the coin. Cryotocurrency rises so fast and you may reap much profit. It also goes down in a similar way and you may lose huge sums of money. Study the volatility of the coin.
- Know and manage risks. Invest only what you are ready to lose.
- Study the market cap.
- Chart its trends
