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There is a finite number of Bitcoins
- DogeCoin has powerful backers like Elon Musk and Mark Cuban
- XRP for lightning-fast transactions as compared to Bitcoin
- Tether if you prefer stability and long term investment
The cryptocurrency came into existence in 2009 via a white paper written under the. It is open-source and decentralized and there are no transaction fees associated with Bitcoins. There is no government guarantee behind the currency also. Ethereum is another most commonly used blockchain with the second-largest market value, right after Bitcoin. So what is the rationale for looking at other cryptocurrencies? For one, there is a finite number of Bitcoins, 21 million. Therefore it is worth looking at other cryptocurrencies on the market today. Here are three of the top cryptocurrencies in the market today.
Dogecoin
Of late, this cryptocurrency is in the news today. The brainchild of two software engineers wanted to perfect a payment system that did not require traditional banking fees. The coin carried the image of Shiba Inu dog from the “Doge” meme. The popularity spiked in April 2021, thanks to tweets by Elon Musk and Mark Cuban. The coin started as a joke but held the sixth-largest cash with a total market value of close to $42 billion, as per data from CoinGecko.
This coin has recently joined the ranks of the most well-known cryptocurrencies. built the coin to
XRP
A low commission currency exchange platform RippleNet has extensive links with financial institutions around the world via a single API. Users of RippleNet use the digital currency XRP to fund cross-border transactions. Ripple’s open developer platform for digital currency is RippleX. XRP operates on an open-source, highly decentralized blockchain known as XRP ledger. According to Investopedia, one advantage of XRP is that its transaction is lightning fast and is confirmed within seconds.
Tether
It acts as a bridge between traditional currencies and cryptocurrencies, and its value is connected to the U.S. dollar. It is one reason why its values are relatively stable and an island of calm in an otherwise highly volatile world of cryptocurrency. However, Investopedia warns, there is no guarantee for any exchange of Tether coins for real money.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
