If you are a crypto investment enthusiast and looking forward to invest in different types of bitcoin trading, you are at the right page on the Internet. This informative article covers every important point related to the basics of the fundamental basics of the top 5 cryptocurrencies, such as Stellar, Dogecoin, Binance Coins, Monero, Polkadot. Read on to know more to have an overall better understanding.
Stellar is known as a popular cryptocurrency. However, one needs to be clear that Stellar itself is not a cryptocurrency. It is a decentralized open-sourced protocol that connects banks, payment systems, and people to transfer digital currency to fiat money. The cryptocurrency that is being transferred here through the seller network is called Lumen.
Like Bitcoins, Stellar also adopted the technology of Blockchain. It is a distributed ledger network that connects the payment heads to transfer Lumen to fiat money all over the world. Initially, Stellar was spread domestically. But in 2008, Stellar signed a deal with Transfer To and started its international payment to more than 70 nations.
Stellar has a market capitalization of over $1 billion. It is known as one of the bests performing altcoins for trading. The currency Lumen is transferred through the Stellar network being traded under the symbol of XLM.
The Stellar network mainly focuses on developing the economy in remote areas or for those who don’t access the scope of bank cervices. The network provides international transfers of currencies irrespective of the currency type that the person holds. It offers fast and low-cost transactions making it acceptable around the world.
DogeCoin, another popular form of cryptocurrency, was developed by two software engineers.. At that time the world was being speculative about cryptocurrencies and their values in real life. So, the two thought to make fun of my making this payment network. They chose the face of the Shiba Inu dog as the logo of the DogeCoin. The altcoin was introduced to the world on 6th December 2013.
The DogeCoin network is an open-sourced network that works as a peer-to-peer transactional process. The special features of DogeCoin are it uses a script algorithm that can make an unlimited supply at a low price. From the beginning of its creation, DogeCoin is gaining popularity. It has a large number of loyal supporters who use DogeCoin on social media as a tipping currency for content.
DogeCoin is also broadly used for trading. In 2017 and 2018 this altcoin reached a market capitalization near USD 2 billion. Though, DogeCoin can never reach a high market cap because whenever the price of the coin rises, people have more incentives to mine it. But, a good number of people are investing in it. As of 27th January, over 132 billion of DogeCoins were in circulation and the market cap was over $ 54 billion.
3. Binance Coin (BNB):
Binance Coin was first created in 2017 by Binance. The launching event of this crypto was organized on an Initial Coin Offering crowdfunding event that was held between 26th June to 3rd July. The event offered a sale of 100 billion units of the token which was 50% of the total supply of Binance Coin.
Binance Coin has a large field to use. It is used in trading, investment, loans, transfers, as a transaction fee in exchanges, credit card payment, entertainment purposes, booking travel arrangements, and many more like this.
4. Monero (XMR):
Monero is a cryptocurrency or electronic cash that has an open-sourced protocol to work. It is a decentralized network just like many other cryptocurrencies that was launched in 2014. It uses a public distributed ledger to transfer funds that allow anonymity of users and also maintain fungibility.
PolkaDot is a cryptocurrency that also uses Blockchain technology. The PolkaDot network contains a wide variety of Blockchain that enables cross-blockchain transfers without the interaction of third-party. The network is open-sourced. Its decentralized feature gives its users the facility of secure and independent transactions.
The PolkaDot has a market cap of over $14,000 billion as of 6th May2022. Currently, over1 a billion of this cryptocurrency are issued. It is also considered a good investment.
Besides these cryptocurrencies, you can also invest in bitcoin which has the highest market cap in today’s economic market. You can open a trading account in a reliable platform like the Bitcoin era and start investing in bitcoin with many other altcoins.