Perhaps the most interesting part about cryptocurrency is that unlike traditional money, no institution, such as a bank, or country legally tender this currency. Cryptocurrency refers to digital assets that can be used as a medium of exchange. The reason why many prefer them is that it is a very secure form of payment, with the history of every coin available publicly.
Today, there are numerous types of cryptocurrency available on the internet. Each has its features and values that keep fluctuating. Those thus interested in bitcoins would benefit greatly from using a website such as crypto-charts, which keeps minute-to-minute tabs on the changing values of cryptocurrencies, letting investors make smart decisions.
Types of Cryptocurrency
To understand the cryptocurrency price list today, one has to understand what the different types of cryptocurrency are. Here is a comprehensive list of the most well-known and frequently used currencies on the internet today –
- Bitcoin (₿) – Created in 2008 by an anonymous source identified by the fake name Satoshi Nakamoto, bitcoin is considered the original cryptocurrency, so much so that bitcoin and cryptocurrency are used interchangeably by many people. Bitcoin is the most valuable of all cryptocurrencies in operation today.
- Ripple (XRP) – In contrast to most digital currencies, which are built to defy governmental and institutional control over financial transactions, Ripple has been a multi-faceted source that seeks to work with the established framework. Its future potential has put it on the upper ends of many cryptocurrency price list today
- Ethereum (ETH) – This is the second-largest cryptocurrency by market share. Ethereum is, however, used much more actively than bitcoin, as the inherently high value of bitcoins. An attack on its creator, the DAO Project, considerably damaged Ethereum’s perspectives, but these have been slowly reversed.
- Litecoin (LTC) – Launched in 2011 by a former Google engineer, Litecoin is often touted as a cheaper and faster version of bitcoin, making it more appealing for regular transactions. This quality has also made it a regular feature on the cryptocurrency price list today.
- Tether (USDT) – This cryptocurrency has become notorious for exemplifying what many believe to be the worst of cryptocurrency, including false promises, opaque practices, and legal battles with state agencies. Nevertheless, Tether continues to be actively purchased and spent.
There are, of course, a lot of other cryptocurrencies that have emerged on the market. Each comes with its own sets of features and risks, but there are a few commonalities that every newcomer should know about before investing in coins or checking out the cryptocurrency price list today.
What To Know Before Investing
Here are some points to keep in mind –
- Firstly, know that cryptocurrencies are not approved by governments per se. Many nation-states have expressed displeasure at digital coins. While a single country cannot close down a decentralized network easily they can still restrict its usage. Multiple states could, however, come together to shut down coins completely.
- Secondly, there is a lot more to bitcoin than what one realizes. It is not as simple as making a purchase and owning some coins. Some in-depth study of concepts such as blockchains is required to make truly smart investments.
- Cryptocurrencies are susceptible to a lot of fluctuations. It is thus a risky prospect to invest in them, and one has to keep a constant check on the cryptocurrency price list today to make the best spending and investing decisions.
- Cryptocurrencies have their unique uses. One cannot assume that they can go around using digital coins to make everyday purchases. It is one thing to take up coins as an investment, but if one wants to use them, it has to be made sure that the coins are accepted.
Cryptocurrency can be a very exciting prospect if attempted in the right manner. By educating oneself and keeping a check on the cryptocurrency price list today, one can surely add to their wealth through this.