So, what basically are cryptocurrencies? In today’s modern era, they are designed for payments across every decentralized networks. Many Altcoins (those that aren’t bitcoin or ether) are categorized in this way and are frequently referred to as value tokens. If we talk more about the other blockchain-based tickets, they aren’t that much used the same way the money is.
When it comes to appreciating these distinctions, many crypto users are supposed to be aware .However, when it comes to regular traders or non-technical investors, it is quite common for them not to be unaware as such trading process are almost similar to crypto exchanges. This in-depth article will give you an an overview of 5 Cryptocurrencies that have attracted much interest for speculation at bitqs.io.
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Stellar (XLM)
First comes Stellar in the list. So, how good is this cryptocurrency? Stellar operates in a blockchain network; in simple words, it connects financial institutions deal with enterprise solutions for massive amount of transaction handlings. In normal cases where heavy amount of transactions between investment firms and banks take several days on the other hand, stellar doesn’t take that much time and completes every transaction with a minimal cost.
Despite its positioning as an enterprise blockchain for institutional transactions, Stellar is still an open blockchain which anyone can utilize. Cross-border transactions for any currency are possible in this system. Lumens are Steller’s native currency (XLM).
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Dogecoin (DOGE)
Dogecoin (DOGE), dubbed the “first namecoin” by some, caused a sensation in 2021 when its price surged. In today’s time, Dogecoin is widely accepted as a payment method where popular tech giant companies, such as Dallas Mavericks, Kronos, SpaceX, and Elon Musk’s American aerospace company becomes no exception.
Jackson Palmer and Billy Markus, the two software programmers which founded Dogecoin in 2013. The coin was allegedly established as a joke in response to the cryptocurrency market’s wild speculation by Markus and Palmer.
In the “Saturday Night Live,” where Elon Musk remained present, DOGE jumped up to an all-time high of $0.71. Dogecoin has a market value of $29.2 billion as of November 2021 and a single Dogecoin worth roughly $0.22, and thus it has now secured the place of tenth-largest Cryptocurrency.
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Binance Coin (BNB)
Binance Coin (BNB) is a cryptocurrency that can be used to pay for Binance Exchange or trading fees. Also serving as the foundation for the decentralized exchange platforms, Binance Coin (BNB) is regarded as the third-largest cryptocurrency. The best part about using the Binance Coins are it gives an option to people those who are used to using the tokens to buy goods or services atlower rates.
Talking about the history of Binance Coins, it used to be known as the ERC-20 token, mainlyon the Ethereum exchange platforms. The Binance Coin network uses the latestPoS consensus paradigm. The Binance Coins were first developed by Changpeng Zhao, which now is known as one of the most extensively utilized exchanges platforms in the world. Ethereum has a market capitalization of $91.5 billion as of November 2021, with one BNB worth $545.21.
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Monero (XMR)
Monero (XMR) is an untraceable, secure, and private cryptocurrency. Monero (XMR) is known as an open-source encryption. Coming to talk about its first online presence, the cryptocurrency first got released in April 2014. These days, the cryptocurrency is swiftly gaining huge interest among the enthusiastic cryptocurrency investors. The creation of this coin is made possible through community donations.
Monero, on one hand seems to be an ideal option for anonymous criminal transactions, however, the anonymity of this particular form of cryptocurrency also benefits dissidents in oppressive regimes worldwide. Coming to talk about the present market value of Monero, the cryptocurrency has a market capitalization of an unexpected $4.1 billion; per token value of $229.27.
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Polkadot (DOT)
Polkadot (DOT) is a one-of-a-kind Proof-of-Stake cryptocurrency that integrates other blockchains. Polkadot’s crucial component is its relay chain, which allows network interoperability.
Gavin Wood, a principal founder of Ethereum was also known to launch Polkadot in the cryptocurrency market. Coming to talk about the present market value of Polkadot, the cryptocurrency has a market capitalization of $41 billion, out of which a single DOT is worth $39.14.
Final Words
Cryptocurrency has become a common topic of discourse in most financial discussions. As an alternative to fiat currency, the digital currency has slowly acquired popularity in worldwide markets. A complete guide to each Cryptocurrency is required to gain the most benefit from your investment.