2017 was definitely the year of cryptocurrencies. Most of these currencies have witnessed huge boosts in the last few months and according to many experts, this trend will continue in 2018. With so many cryptocurrencies out there, people can get a little bit confused when they want to invest some of their money. In this article, we will analyze the five top cryptocurrencies at the moment.
Obviously, the list starts with Bitcoin, the first cryptocurrency in the world. It started in 2009 and had a very small market cap back then. Today, it has a market cap that is worth billions of dollars. Based on Blockchain concept, this cryptocurrency has an amazing potential. This is one of the main reasons why Bitcoin is used as a payment method on many websites and there are even physical ATMs that work with bitcoins.
Ethereum was designed by Vitalik Buterin, a successful programmer, and cryptographer. The main objective of Ethereum is to serve as an online platform that helps developers create decentralized apps. According to many experts, Ethereum is superior to Bitcoin because it uses a well-developed programming language. It is the potential of this cryptocurrency that makes many people believe that Ethereum’s time will come soon. So, it might be a good idea to invest some of your money in this cryptocurrency.
Litecoin is another interesting altcoin (alternative cryptocurrency to Bitcoin). Based on Bitcoin, Litecoin was made to overcome the issues encountered by Bitcoin. It’s worth mentioning that one of the former managers of Google Charlie Lee is behind the Litecoin project. In the last three months, the price of Litecoin has doubled. Don’t forget that Charlie Lee has abandoned all his projects and focused only on Litecoin.
The basic objective of Monero is to solve the problem related to anonymous transactions. There were speculations in the past that many cryptocurrencies are used for money laundering and Monero was one of the most frequently mentioned cryptocurrencies. Yet, the creators of Monero don’t care and they claim that they are doing this to help investors keep their privacy.
Bancor is often called the smart token. This is a relatively new cryptocurrency that makes trading, making and handling tokens easier.