From the last 1 year cryptocurrencies are become very famous and lots of people are investing on it. But what is actually a cryptocurrency? Cryptocurrencies are the digital money in the form of tokens or coins. Cryptocurrencies remove the involvement of third parties like banks during a transaction between a user to the other. In this blog we going to see the top 5 cryptocurrencies in the world 2021, Advantages and Disadvantages of Cryptocurrencies.
Bitcoin is the leading cryptocurrency in the world now with $641 Billion market capitalization. Bitcoin is created on 2009 by an unknown person or a group of people in the name of Satoshi Nakamoto. The transactions are verified by nodes through cryptography in blockchain. As of now the price of one bitcoin is equal to $33270 USD. Five years ago, the price of one bitcoin is just $500 USD. The growth rate of bitcoin 6,300 percent. As of now MicroStrategy is the public company that holds the most bitcoins followed by Tesla.
Ethereum is the second leading cryptocurrency after bitcoin with $307 Billion market capitalization. Ethereum is founded on 30 July 2015 by Vitalik Buterin, a Russian-Canadian entrepreneur and programmer from Toronto. As of now 2021 one Ethereum is equal to $2035 USD. Five years ago, the price of one Ethereum coin is just $7.10 USD. Over the last year growth rate of Ethereum is 900 percent. As of now Vitalik Buterin holds the most Ethereum.
After Bitcoin and Ethereum comes Tether with $62 Billion market capture. This coin is special because it is a stable coin. Tether was founded in 2014 by Brock Pierce, Craig Sellars and Reeve Collins. Tether is originally known as Realcoin. The price of one tether is equal to $1 USD. The growth rate of tether is 581 percentage.
Here comes Binance after tether with $56 billion market capture. Binance was found on july 2017 by Changpeng Zhao, a Chinese-Canadian business executive. He is the founder and CEO of Binance. In 2017, one Binance coin is equal to $0.10 USD. By june 2021, it had risen to $350 The growth rate of Binance from 2017 is 3,50,000 percent. The specialty of this coin is that it can be also traded in other forms of cryptocurrency such as Ethereum and Bitcoin. Changpeng Zhao hold the most Binance coins.
Cardano stands 5th with $51 Billion market capture. Cardano was founnded on 2017 by Ethereum Co-Founder Charles Hoskinson to provide balanced ecosystem for cryptocurrencies. In 2017 Cardano token was just $0.02 USD. By june 2021, It had risen to $1.50 USD with an increase of 7,400 percentage. As of now Charles Hoskinson holds the most Cardano tokens.
ADVANTAGES OF CRYPTOCURRENCIES
- There is no involvement of third parties like banks.
- The transaction cost is very low or nothing.
- Protection from fraud payments.
- Potential for high returns.
- Easier international trade.
- Strong security
DISADVANTAGES OF CRYPTOCURRENCIES
- Cyber security issues
- Cryptocurrencies not accepted everywhere.
- There is a greater risk in investing in cryptocurrencies.
- There is no refund policy.
- It’s not friendly user, it is hard to understand
That’s all from my side if you like the blog, please share and rate it.