Believe it or not, Bitcoin is not the only pebble on the beach and we are going to prove that in our rating of popular cryptocurrencies. Till recent times Bitcoin had no alternatives. Today there are so many offerings that it is really easy to get bamboozled. More than that, no one can say for sure what projects will be successful and what startups will remain a great idea without good translation into action. Still, there is a possibility to analyze the digital coins, the projects connected to them and stock exchanges that work with cryptocurrencies. We strongly believe that digital money is investment-attractive for a reason, so we have prepared a review of top cryptocurrency that provides detailed information about this modern phenomenon.
H2: The very beginning of the era of Bitcoin
No one knows if whether one person or a group of developers has created Bitcoin in 2009. One thing is clear: it was the first project that had presented truly decentralized open source network edifice. Here everything depends on a community and all important decisions are made by the community so one person or a group of people is unable to influence the whole network. In order to keep it alive developers are obliged to satisfy needs and requests of all users as the more users participate in it, the more reliable and stable it is.
The work of this network is based on the peer-to-peer transactions that are validated by the third user. All the transactions are kept in check with help of the blockchain, a transparent ledger that helps to verify the transactions, again and again, serving as a protection of the whole network. The principles of blockchain operations are so secured, efficient and transparent that many developers wanted to reap its benefits. Thus, more and more digital currencies, projects and ICOs started to appear.
Review of the top 10 crypto currency (apart Bitcoin)
One may say that this digital currency is identical to Bitcoin, but there is a radical departure: Litecoin uses the other hash algorithm called Scrypt instead of Bitcoin’s SHA-256d. Mining here is simpler in comparison with Bitcoin and, as a result, the speed of transactions is higher. In addition, the network precludes large-scale hardware attacks because the decryption of a key calls for a huge amount of memory.
Currently, it is China’s No1 digital currency, also known as China’s Ethereum. The reason for it lies in the same idea behind using these networks: people would be able to trade any asset through the blockchain technology and smart contracts.
The distinctive feature of this altcoin is the inability to trace the information about the transactions. On the contrary to Bitcoin or Ethereum, here it is impossible to find out the information about the addresses of the sender and receiver and how many coins were transferred. Still, it is one of the oldest altcoins and it always appears in the rating of popular cryptocurrencies.
This network uses the same hash algorithm as Bitcoin. The most prominent feature of this altcoin is the combination of proof-of-work and proof-of-stake systems. Such combination solves the issue of the declining of the rewards for block mining so the miners are interested in the further maintenance of the network. Thus, the network is protected from centralization and a 51% share attack. The creation of the new coins here depends on the wealth of each user negating the possibility of attaining a monopoly over the altcoin.
Golem has become a fixture of the best review cryptocurrency list, despite the fact that it is a project that involves a decentralized supercomputer. Here the whole point of the network is providing services for the users who need extra computing power, still, there is a token called GNT that is available within several exchange websites.
This digital coin uses a different hash algorithm – X11, and since the very beginning users had a chance to use the coins without mining them as the network was launched with a set of pre-mined coins. The community of this cryptocurrency is rightfully considered to be the most active among all the others in the crypto world. It was not infrequent when the community had influenced essential decisions concerning the network shifting the direction of development of Dash. The current market cap of this altcoin is $500 million which makes Dash a permanent participant of the rating of popular cryptocurrencies.
This coin was created on the Ethereum platform and it was once known as the best P2P crypto exchange platform. This platform waives the need to “buy” altcoins in order to trade them to the other user, on the contrary, the user has a possibility to provide service from own wallet to another user. The benefits of this platform influence the success of the altcoin and the more popular it becomes, the more valuable the coin is. So no wonder that this altcoin has appeared in our review of top cryptocurrency.
IOTA is an illustrative example of how one great idea has brought another one. This cryptocurrency does not utilize the blockchain technology but reaps the benefits of its core. IOTA uses “Tangle” technology that also allows other users of the network to verify each other’s transactions. The usage of the different technology has created the main distinctive feature of this cryptocurrency: there are no transaction fees.
This token is quite unusual as it belongs to an unusual browser Brave. Why is it so special? Here users receive these tokens for watching ads on the browser and can donate the earned coins to the websites they would like to visit. Such an approach allows users to get the most out of the decentralized browsing experience.
Our review of top cryptocurrency would not be complete without this token. Dogecoin was initially created as a joke in 2013. It is a meme based currency and today’s market cap of it is around $440 million. Sounds funny, heh? Today people use this token as an appraisal of others’ creative content, so no wonder that it is the most popular among the users of social media networks.
The Best Cryptocurrency trading platforms
First things first, let’s find out, what are the main features to search for when choosing the platform?
- Trading fees
- Customer support
- Listed currencies
- Privacy features
Taking into consideration all mentioned above, here are the greatest exchange platforms for working with cryptocurrencies.
Despite the fact that this platform is only one year old, the daily volumes reach $1.5 billion and it lists more than 50 altcoins including native BNB tokens. More than that, traders expect to see fiat currencies in pairs with digital money soon. In order to promote own tokens, the platform offers a 50% discount while using BNB. Trading fee here is pegged at 0.1% for all trades.
This platform is known for a wide range of tokens you can work with. Here you may find more than 450 altcoins with a daily trading volume of about $1.5 billion USD. Here the users can make deposits in the most popular cryptocurrencies and make withdrawals in BTC, ETH, ETC, and LTC. The fee size depends on the amount of the transaction: all transactions below 600 BTC the fee is 0.15% to the maker and 0.2% to the taker.
This platform is one of the biggest ($1.2 billion daily trading volume) and it operates in 130 countries worldwide. Still, not all users are ready to use its assistance as one of the requirements of the security is a verification of the identity – here the username should correspond with the user’s bank account name. More than that, it is necessary to upload a selfie.
The platform offers free deposits in Yuan and charged deposits in US Dollars and it is possible to withdraw BTC and LTC. The withdrawals are also charged as well as all transactions. But what makes Huobi so popular? This platform has heavy security features that work as they should, as there were reported hack attacks but no money was lost.
The daily trading volume of this cryptocurrency exchange reaches $500 million and this Hong Kong-based platform has already launched Ethfinex, the trading platform that accommodates Ethereum-based cryptocurrencies.
One of the main inconveniences of this platform is the necessity to wait up to 5 weeks in order to verify ID and thus get a possibility to buy digital coins using US Dollars or Euro.