What are the most known cryptocurrencies?
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Tether (USDT)
- Solana (SOL)
- USD Coin (USDC)
- Cardano (ADA)
- XRP (XRP)
BITCOIN
Bitcoin is the first digital currency created in January 2009. Amazingly, nobody knows who invented Bitcoin. It is said that the inventor of the most famous cryptocurrency is Satoshi Nakamoto. Satoshi could be a single person or a group of programmers.
As part of the implementation, Nakamoto also devised the first blockchain database from which it was provided the foundation of many other cryptocurrencies.
Bitcoin has a finite supply, but not all units are in circulation yet. There are currently 18,925,137 bitcoins in existence. That means almost 19 million have been mined and only 2 million left to be mined.
ALTCOINS
“Altcoin” refers to any type of cryptocurrency other than Bitcoin. Ethereum is the most popular altcoin
The ranking at the beginning of the post is the highest Market Cap.
People tend to buy altcoins as the changing of the price can be much more higher than the changing of the price of the most cryptocurrency (BTC). But there’s a risk involved with buying altcoins. Since they tend to have a higher volatility than BTC , you can make more profits in short terms as you can also lose a big part of the money invested in them.
What do we think about buying cryptocurrencies?
The first rule is : Invest what you can afford to lose. Cryptocurrencies in general have a high volatility. This means there are thousands of people that today are rich by buing cryptocurrencies years ago , but there are thousands of them that lost a lot.
The second rule is: Invest smart , don’t invest fast!
As other ways of investing, you should be ready to have ups and downs by owning cryptocurrencies.
We recommend to invest always in the cryptocurrencies with an important Market Cap.
The third rule is:
When the price goes crazy, it’s always a good idea to cash out! IF the price is in your favour and you are making a lot of money, better to convert the coins in eur/usd or anyother currencies… There is a law of nature that will always be followed at some point: Everything that goes up , will fall down!
