Cryptocurrency: What Is It?
Cryptocurrency is a mode of payment that made to the scene in the past decade. Technically, these are unit tokens that can be used, by exchanging it online valued with real money, to purchase goods and services. These currency units can be purchased or earned such as free lumens through various sources.
Top Cryptocurrencies In The 2021 Market And What Are They Worth:
- Bitcoin is the most widely adopted cryptocurrency that leads the pack with a return of 309% in 2020.
- The currency enjoys high endorsements from Elon Musk’s Tesla (1.8% shares), MicroStrategy (4.7%), along traditional Wall Street giants.
- However, as one of the earliest, bitcoin transactions can cost around USD 12 and take more than 15 minutes to complete.
Besides, there are more than 6,700 different cryptocurrencies that are available publicly such as free lumens, ETH coins, according to popular surveys.
- The cryptocurrency originally began as a joke between the two programmers at the peak of the Bitcoin hype 7 years ago.
- Yet further on, it has gone viral among investors and has been constantly endorsed by Elon Musk through Twitter.
- Ethereum is relatively new, established in 2015, but has managed to step up higher than others due to its high-end technology and ‘smart contract’ making.
- Presently, ETH is valued at an approximate market cap of USD 100 billion with a gorgeous return of 470% in 2020.
- Ethereum offers massive benefits compared to bitcoin like transactions executed at high speed (15secs)
- XRP is a centralized cryptocurrency founded, managed, and mined by Ripple Labs and has an approximate market cap: USD 13 billion with a 16% return recorded in 2020.
- They seem to be highly prospectus in the fields on bank-to-bank transfers as well as in financial establishments, proving to be a substitute for the SWIFT network.
- It has a low price-per-coin making it a lucrative target amongst investors.
Stellar Lumens (XLM)
- Lumen (XLM) happens to be Stellar’s native cryptocurrency, a fully accessible matrix used for storing and transferring capital that helps users to build, exchange and submit digital copies of all sorts of money to bitcoin from dollars.
- The market valuation currently stands roughly at 11.5 billion USD.
- The currency is popular owing to significant awareness of free lumens and offers from various vendors.