(Newswire.net — May 7, 2022) — As of March 2022, there are over 18,000 different cryptocurrencies in circulation. So, if you’re just now getting involved in the world of cryptocurrency, you have a lot to learn.
Luckily, you have this guide to break down the most popular cryptocurrencies today. It’s time to get involved and learn about the top cryptocurrencies, meme currencies, and why the crypto craze is booming in 2022.
Bitcoin
The first cryptocurrency, Bitcoin has stood the test of time and stands tall among the most popular cryptocurrencies. The Bitcoin network supports a new payment system and completely digital money. This cryptocurrency is so popular that people can even buy Bitcoin using mobile apps like Paypal.
Many businesses have started accepting Bitcoins as a legitimate source of funds. But, some governments are wary about its anonymous nature and have tried to regulate it in some way. Right now, a single Bitcoin is worth $36,454, making it the best cryptocurrency to invest in.
Ethereum
Vitalik Buterin proposed Ethereum in 2013. Ethereum is an open-source cryptocurrency that features smart contract functionality and runs on its own blockchain platform.
While Ethereum is similar to bitcoin in many ways, it has several distinct differences. The most distinguishing factor between the two is:
- The intended use of Bitcoin is as an alternative to traditional currency
- The intended use of Ethereum is as a currency with alternative functions like hosting NFTs and smart contracts
Ethereum is the second most valuable and second most popular cryptocurrency. Right now, one Ethereum is worth $2,756.
Chainlink
Chainlink creates currency by tapping into data from the Ethereum blockchain. This unique system has made Chainlink garner popularity in investment circles. With a proven record of success and an impressive team, there are many reasons why investors should consider adding Chainlink to their portfolio.
Notably, Chain Link is more affordable to invest in compared to other popular cryptocurrencies, with a market cap of $295 million and a single-share value of around $0.50 per coin. Check out this link for more on Chainlink.
Why Invest in the Most Popular Cryptocurrencies?
The reason people are excited about investing in cryptocurrency isn’t that it’s new. People are looking for a stable form of currency in unprecedented times. Cryptocurrencies operate outside the realm of traditional financial institutions.
So, when you invest in cryptocurrency, your money doesn’t go to a massive bank. Instead, it stays on the blockchain. Loans also run automatically through smart contracts- no more middlemen!
Another reason people like cryptocurrency is because it returns anonymity to the buyer. While some criticize this feature for opening the door to illegal activities, others praise it for helping protect consumer privacy.
More Personal Finance Tips on Newswire
Now that you know about the most popular cryptocurrencies, you must be itching to start investing. Well, you’re in the right place. Newswire is home to one of the most extensive personal finance blogs on the internet.
We’ve curated a wealth of knowledge about how and when to invest in booming cryptocurrencies. Check out these and other investment tips on our cryptocurrency blog today!