Since you started reading this article, it means that you have definitely seen in the last month how everything related to cryptocurrencies has exploded.
So you sit down now and you think you might be interested in investing in crypto, but you don’t know enough about them, do you?
Well, just for you I wrote the lines below.
Here we will present the answer to the most questions you could have on this topic. Here’s what you can read:
What is a cryptocurrency
A cryptocurrency is a type of digital currency that allows you to buy goods and services, or that you can use as a form of investment.
A specific feature of cryptocurrencies is that, in general, they are not issued by any centralized authority.
As such, they are considered by many investors to be immune to attempts at manipulation or government intervention.
To create and secure them, cryptocurrencies use a state-of-the-art technology called blockchain .
Although there is a lot to talk about on this topic, in short, blockchain is a technology that, today, is almost impossible to break and / or falsify.
Through this “blockchain” as it would be translated into Romanian, cryptocurrency transactions are divided into many small pieces, which are stored and managed by a group of computers.
Thus, in order for someone to be able to decode the code of a crypto, they should have access to all the computers that store these small pieces.
Not many people know this, but the history of crypto begins in 1983 , when a cryptographer named David Chaum developed the idea of using a cryptographic system to conduct economic transactions.
The term cryptocurrency was first used by Wei Dai in 1998, who thought of using such an instrument as a decentralized method of payment.
The first cryptocurrency launched was Bitcoin , a virtual currency that is still the most popular in the world.
Bitcoin was launched in 2009 by an individual that no one knows, who bears the pseudonym ” Satoshi Nakamoto “.
What motivated Nakamoto was the economic crisis of 2008, in which millions of people were affected.
He came up with the brilliant idea of creating a payment method that is not tied to any government and thus is not affected by political events.
How many cryptocurrencies are on the market and how much are they worth?
Although many of us have only heard of four or five of them, there are currently more than 6,700 publicly tradable cryptocurrencies , and their numbers continue to rise as if from day to day.
The total value of the crypto market is estimated at $ 1.5 trillion, ie $ 1.5 trillion (figure valid for the date of writing the article, 23.02.2021).
In terms of the most successful cryptocurrencies and their market capitalization, here’s how:
|Bitcoin||BTC||$ 933.8 billion|
|Ethereum||ETH||$ 184.13 billion|
|Binance Coin||BNB||$ 36.6 billion|
|Tether||USDT||$ 34.7 billion|
|Polkadot||DOT||$ 32.1 billion|
|Cardano||TO GIVE||$ 31.2 billion|
|XRP||XRP||$ 23.8 billion|
|Litecoin||LTC||$ 12.6 billion|
|Chainlink||LINK||$ 11.2 billion|
|Bitcoin Cash||BCH||$ 10.5 billion|
We think it’s no surprise that Bitcoin is the most popular virtual currency of all.
The market capitalization of the currency is twice as large as all the other cryptocurrencies collected.