The top 10 Cryptocurrencies in 2021

 Read Time: 5min

There are thousands of different cryptocurrencies, which can make it difficult to choose between them when you are getting started in the world of crypto. To help you, these are the top 1 cryptocurrencies based on the total value of the coins currently in distribution.

       

1. Bitcoin (BTC) 

It was created in 2009 under the pseudonym Satoshi Nakamoto. Bitcoin is a decentralized digital currency which like most cryptocurrencies runs on a blockchain. It can be sent from user to user in the peer-to-peer network which has no intermediaries. Bitcoin's price has skyrocketed as it's become a household name. In Five years, Bitcoin has given a return of 9,000%.

2. Ethereum (ETH)

Both a cryptocurrency and a blockchain platform, ETH is the favourite of program developers because of its potential applications, as it allows Smart Contracts and Decentralized Applications (DApps) to be designed and run without the need for third-time downtime, or intervention. Ethereum has also grown tremendously, in just five years, its price went from $11 to $4,000.

3. Binance Coin (BNB)

Binance Coin is an Etereum-based token launched by one of the largest crypto exchanges in the world, Binance. You can use it to trade and pay fees (commission) on it. It can also be traded or exchanged for other forms of cryptocurrency, such as BTC and ETH. Its price has risen from $0.10 to $400 in just 4 years.

4. Cardano (ADA)

Cardano is a cryptocurrency network and open source project with the aim of creating a public blockchain for smart contracts. It is notable for its early adoption of proof-of-stake validation which expedites transaction time and decreases energy usage and environmental impact. The ADA token has had relatively modest growth compared to others, as it has gone from $0.02 to $2.11 which is over 10,000%

5. Tether (USDT)

Tether, also known as Realcoin, was launched in 2014. It is a stablecoin, which means that it is backed by fiat currencies like the U.S. dollar and the Euro. In theory, Tether's value is supposed to be more consistent than other cryptos and that is why it's favored by investors who are wary of the extreme volatility of other coins.

6. XRP (XRP)

It is created by the founders of Ripple, a digital technology and payment processing company, as a payment token to be used on its payment system. XRP can be used on that network to facilitate exchanges of different currency types. It is used with a network of validation nodes rather than a blockchain, as the company started with a blockchain-based system.

7. Dogecoin (DOGE)

Dogecoin has been a hot topic thanks to the billionaire Elon Musk. It is started as a joke in 2013, as the founders wanted to make fun of the rampant cryptocurrency speculation of the time. Unlike other cryptos, there is no limit on the number of Dogecoins that can be created, which leaves the coin to devaluation as the supply increase.

8. USD Coin (USDC)

Just like Tether, USDC is a stablecoin, meaning it's backed by US Dollar and aims for a 1USD to 1 USDC ratio. It is powered by Ethereum, and you can use it to complete global transactions.

9. Polkadot (DOT)

DOT is a one-of-a-kind cryptocurrency that aims to provide blockchain interoperability. It aims to integrate them by creating a network that connects the various blockchains so they can work together. Polkadot enables an internet where independent blockchain can share information and transactions in a trustless manner. After its launch in 2020, its price grew 774%, from $2.93 to $25.6.

10. Solana (SOL)

Solana is a decentralized blockchain built to enable scalable, user-friendly apps for the world. It runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. Solana has the fastest-growing ecosystem in crypto, with over 400 projects. Launched in 2020, it is given a gain of 9,500% from $0.77 to $73.2.

Written by: Yashovardhan Singh