1. Bitcoin (BTC)
Bitcoin was the first ever cryptocurrency (established in 2009 by Satoshi Nakamoto) and it is currently the world’s most valuable. It is the coin most people think of when they think of crypto trading. Therefore, it’s no surprise that it’s also the most popularly traded coin. Bitcoin famously went through a boom in the 2010s, which resulted in many early investors getting rich. While many people continue to buy Bitcoin as an investment asset, it is also widely accepted as a currency and used to buy many products and services (more so than other cryptocurrencies). Companies ranging from Uber Eats to Adidas now accept Bitcoin payments.
2. Ether (ETH)
Ether is the second most popular cryptocurrency. It was introduced in 2015 and is traded on the Ethereum blockchain. Trading Ether is faster and more environmentally-friendly than Bitcoin, however there are added fees involved when trading Ether known as ‘gas fees’. These gas fees are paid to crypto miners and cover the cost of running the network. The price of gas fees is constantly changing, however you can track these fees using the likes of this ETH gas tracker. While not as commonly used as a currency as Bitcoin, it’s worth noting that Ethereum supports smart contracts, which makes it attractive to many businesses.
3. Tether (USDT)
Tether was introduced in 2014 as a ‘stablecoin’ that has a fixed value equal to the US dollar. Stablecoins like Tether are less volatile than regular cryptocurrencies, and are therefore seen as less risky. Because of this low risk, Tether is the third most popularly-traded cryptocurrency in the world. It is becoming a more popular cryptocurrency for buying products and services, as well as being a popular option among investors. There are many other stablecoins that can also be looked into for those wanting a low-risk option.
4. Solana (SOL)
Solana was founded in 2017 and is the fourth most popular cryptocurrency. Its creator Anatoly Yakovenko introduced a proof of history system when developing the Solana blockchain that allowed this cryptocurrency to be traded much faster than both Bitcoin and Ethereum. As well as being fast, Solana transactions are relatively affordable. Because of this, it is a very attractive cryptocurrency among traders.
5. Binance Coin (BNB)
Binance Coin, which is more commonly known as BNB, was created in 2017. It is used to pay transaction fees on Binance.com, which is a popular cryptocurrency exchange. An increasing number of merchants have begun to accept BNB ranging from Shopify to Expedia. This is due to the fact that you get discounts on trading fees when you use this currency to pay for products and services. This has helped it to become the fifth most popularly traded cryptocurrency. This post delves more into the benefits of investing in BNB.
6. XRP (XRP)
XRP was introduced in 2012 – making it one of the longest-running cryptocurrencies alongside Bitcoin. A company named Ripple is one of the main users of this currency and offers payment solutions to businesses that use XRP. Because of this XRP is sometimes referred to as ‘Ripple’ by crypto traders, however the currency is not controlled by this company. Other than being well-established, there are many benefits to using XRP that have helped it to become the sixth most popular cryptocurrency. It has very low transaction fees and takes seconds to trade. XRP also does not need to be mined, making it one of the most environmentally-friendly cryptocurrencies.
7. Dogecoin (DOGE)
Dogecoin was created in 2013 as a joke. It was inspired by the Shiba Inu dog meme and is regarded as the first ‘meme coin’. Although created as a parody, Dogecoin attracted many traders for its silly premise and consequently turned into a wildly successful cryptocurrency – the 7th most popular in the world! Dogecoin has been used to fund many charity projects and business projects over the years including a SpaceX mission in 2021 and motorsports events. Since its boom, many other meme coins have been created and a lot of them have also become very popular. However, Dogecoin still remains the most popular meme coin, with a dedicated online community continuing to promote its use around the world.
This is a contributed post.