Most Popular Crypto Currencies that Everyone Uses
- BTC (BitCoin)
- BCH (Bitcoin Cash)
- ETH (Ethereum)
- LTC (LiteCoin)
- DOGE (DogeCoin)
- USDT (Tether)
- XRP (Ripple)
- Other Popular Cryptocurrencies
- ADA (Cardano)
- DOT (Polkadot)
- XLM (Stellar)
- BNB (Binance Coin)
- XMR (Monero)
- SOL (Solana)
Although cryptos have been around for many years now, what prompted their sudden growth in popularity was the unexpected shifts in the values of Bitcoin and other altcoins. Let's examine the most popular cryptos that are also accepted in our casinos.
The gold standard for cryptocurrencies, Bitcoin, was created in 2009 as a medium for online exchange. While the scope of use has expanded over the past decade, BTC continues to be popular among commercial crypto investors. Bitcoin prices are volatile, and the sudden price surge helps improve the profile of other altcoins.
BCH (Bitcoin Cash)
BCH was developed in 2017 when two factions in the Bitcoin community didn't agree on the future of scalability. Although BCH has a smaller market cap than BTC, it offers reduced transaction fees and faster transactions.
Ethereum is decentralised like Bitcoin but with a few differences. Ethereum is supposed to be a global financial suite accessible at any moment. On the market capitalisation scale, it ranks 2nd among digital tokens.
Litecoin, launched in 2011, was one of the earliest digital currencies. Litecoin employs Proof of Work to validate transactions. Litecoin's founders built on Bitcoin's foundation and operating system in several areas. For example, Litecoin has a faster block creation rate, confirming transactions instantly. Litecoin's market value is rapidly rising, and it is now ranked 17th globally.
Dogecoin (DOGE) launched in 2013 as a fun alternative to existing cryptocurrencies such as Bitcoin. A meme that trended in 2013 inspired the Shiba Inu logo and Dogecoin name. Unlike Bitcoin, which is intended to be limited, Dogecoin is supposed to be plentiful. 10,000 coins are mined every minute, and there is no limit to the total amount.
Tether, one of the earliest stablecoins, is linked to the dollar. This reduces price volatility and allows users to convert any amount to USD more simply. Tether is a blockchain-based platform that allows users to spend fiat money digitally. Tether is currently the world's fifth-largest cryptocurrency.
The XRP ledger was created in 2011 by David Schwartz, Arthur Britto, and Jed McCaleb. XRP is a payment-focused crypto. The XRP Ledger is an open-source, decentralised blockchain system that can settle transactions in 3 to 5 seconds. XRP may be transmitted directly between the two currencies, removing the need for a central intermediary.
Other Popular Cryptocurrencies
Touted as the "environmentally friendly" cryptocurrency, Cardano is the first digital currency to be based on the Proof of Stake transaction model. The full potential of blockchain is yet to be unearthed. And for this reason, it is often called the "Ethereum killer". However, Cardano is still in its initial stage of production and has a long way to go in financial applications.
Polkadot combines blockchains and oracles to promote interoperability. Various systems can coordinate and coexist under one digital roof. Polkadot allows parallel chains with native tokens for appropriate circumstances. Unlike Ethereum, Polkadot allows developers to establish new blockchains while leveraging its security standards.
Stellar is an open blockchain that is designed to offer enterprise solutions for large-scale transactions. It also processes massive transactions instantly while costing little to nothing! Digital currency offers cross-border transactions between currencies. However, users must hold Lumens, Stellar's native currency, to transact on the network. Stellar's market capitalisation stands at $565 million as of September 2021.
BNB (Binance Coin)
Binance Coin (BNB) is a cryptocurrency exchange-based token established and distributed by Binance. Binance Coin is one of the world's most widely used services based on trading volume. Binance Coin uses the Proof of Stake model and has a market valuation of $71 billion as of 2021.
Monero is a private, secure, and untraceable currency that launched in April 2014. It was founded with a strong focus on scalability and decentralisation. The cryptocurrency was founded using donations only, and this community-focused crypto token uses ring signatures to guarantee complete privacy. Monero has a market capitalisation of $245 million at the time of writing.
Solana is a decentralised computing platform that takes payments in the SOL cryptocurrency. Solana aims to boost blockchain scalability by integrating proof-of-stake and so-called proof-of-history consensus. SOL promises to be able to withstand 50,000 transactions per second while maintaining decentralisation.
Despite hundreds of competitors, Bitcoin continues to be the most popular cryptocurrency in existence. With a market cap of nearly $1 trillion, each BTC is worth nearly $50,000 at the time of publication.
Digital currencies like Dogecoin, Ripple, and Tezos continue to grow popular, and there is room for growth in the coming days. Social media plays a key role in influencing crypto sentiments, and Elon Musk's tweets are the best example!