There are hundreds of crypto currencies in market circulation today, which can make it confusing for first-time users to know exactly which crypto currencies to put their trust in.
Keeping that in mind, we’ve compiled the top 10 crypto currencies
by market value as of August 2021 to get you started on your crypto journey.
1 – Bitcoin - $856 billion
The Father of all, Bitcoin is the original crypto currency created
in 2009 by someone or some group under the name of Satoshi Nakamoto. As with
most crypto currencies, Bitcoin runs on a block chain, which is a network of
thousands of computers that verifies transactions in real time without any
middleman. With additional concepts like proof of work built in, Bitcoin is
secure and safe from any hacking attempts. It’s
market cap at the end of August was over $856 billion with the price of a
single Bitcoin rising from about $500 five years ago to over $45,000 today,
implying a staggering return of 8900%.
2 – Ethereum - $357
billion
Ethereum is a block chain network with Ether or ETH as its native
token, and it is commonly referred to as a crypto currency too. If you’ve heard
of NFTs being sold digitally, they’ve mostly been processed using the Ethereum block
chain. It is one of the more solid platforms that are constantly trying to
upgrade and stay on top of trends – its latest initiative aims to reduce
dependence on fossil fuels by a significant amount.
As a crypto currency too, it has delivered staggering returns,
going from $11 to over $3000 in a span of five years, marking a return of a
jaw-dropping 27,000%. It’s current m-cap stands at over $357 billion, making it
the second-biggest crypto currency in the world.
3 – Binance Coin - $70 billion
With a market cap of over $70 billion, Binance Coin is the
third-most popular crypto currency available today. It can be used for trading,
payment processing or even booking travel arrangements and can also be traded
or exchanged for other forms of crypto currency, such as Ethereum or Bitcoin.
4 – Cardano - $69 billion
Cardano is one of the newer crypto currencies but its made a
splash and is currently one of the most-talked about crypto currency. It is
known for relying on the newer proof-of-stake method to validate transactions
that use less energy compared to bigger crypto currencies. It’s market cap at
the end of August 2021 was a sizeable $69 billion.
5 – Tether - $64
billion
Tether, with a m-cap of $64 billion, is a different type of crypto
currency called stablecoin that is backed by fiat currencies such as US
dollars, making it more consistent and reliable compared to other volatile crypto
currencies.
6 – XRP-$52
billion
XRP was created by the same team behind digital technology company
Ripple, that is used as a network to facilitate exchanges of different currency
types, including fiat currencies and other major crypto currencies. XRP’s
market cap stands at $52 billion at the end of August 2021.
7 – Dogecoin - $40
billion
What started as a meme has today turned into a crypto currency
worth over $40 billion. Here’s a fascinating fact – in 2017 the value of
Dogecoin was $0.0002 and today it’s $0.31, implying growth of 154900% in five
years!
8 – Polkadot - $25 billion
Polkadot was launched in 2020 and in just a year, it’s value has
gone up from $2.93 to $25.61 – a 774% growth! Polkadot’s USP is that its trying
to create a crypto currency network that connects the various blockchains so as
to make them work together. It’s m-cap is at over $25 billion currently.
9 – USD Coin - $23
billion
USD Coin is another stablecoin that has a market value of $23
billion and counting. It is powered by Ethereum and it can be used to complete
global transactions.
10 – Solana - $20
billion
Last but not the least, Solana, with a m-cap of over $20 billion
is yet another crypto currency that’s been making news recently for its unique
hybrid proof-of-stake and proof-of-history mechanisms that help it process
transactions quickly and securely. Solana was also launched in 2020 when it
cost $0.77 and has today grown by 9405% to currently trade at $73.19.
With so many options available, it should be easier to take a decision on which crypto currency appeals to you the most and start investing small chunks of money into it.
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