Here Are The Top 4 Cryptocurrencies You Need To Know About

Cryptocurrencies in circulation

Are you thinking of venturing into cryptocurrency trading? Like in the normal forex trading where different currencies have varying values, the digital coins follow the same trend. Depending on the amount of coin in circulation, a specific virtual coin will fetch more than other altcoins.

However, before you start trading or venturing into this prime field, you need to have information about the current digital coins and their value. For your information, there are more than a hundred cryptocurrencies in circulation to date. But as usual, each coin has a certain value in comparison with others.

Here are the top four cryptocurrencies that you need to go for:

a. Bitcoins

Bitcoins were the first form of digital currencies (Certainly, you are familiar with this cryptocurrency). The coin did not only open a new chapter in the digital transaction but also set off a stage for the development of other forms of virtual coins. In fact, Bitcoin can be called the ‘the father of cryptocurrencies.’ This is because all other coins are a modification or an improvement of the lines of code used in mining Bitcoins.

For this reason, this coin remains at the top of the rest altcoins. The Bitcoin value is scaling heights each day. Also, it has a lower risk compared with other coins due to its low liquidity and acceptance. On the virtual platform, Bitcoin equates gold.

b. Litecoin

In 2011, a former Google engineer by the name Charlie Lee developed a new form of digital currency and called it Litecoin. This coin was seen as silver to Bitcoin. Its development happened by modifying the open source codes used in creating Bitcoins and using an algorithm known as Scrypt. Also, the generation rates of this coin and transaction confirmation are faster.  

For this reason, it is gaining ground in the business world as more merchants are starting to accept it. Hence, if you are looking on to start trading with cryptocurrencies; Litecoin is the next big thing after the Bitcoins.   Nevertheless, it is not a competitor to Bitcoins instead it is a complimentary digital coin.

c. Ethereum

Are you a developer and seeking to build an app in a secure, zero fraud and third-party interference, control or downtime? If this is you, you are among the developers seeking Ethereum. Ethereum is an open source and decentralized software for making apps with the above-stated characters.

In simpler language, Ethereum allows developers to build and run smart contracts and distributed apps on a platform with zero downtime, control, and fraud or third-party interference. The platform uses a cryptographic technology known as Ether. Due to this, every app developer is seeking to run their applications on Ethereum making it second valuable cryptocurrency after Bitcoins.

d. Zcash

If your privacy and selective transparency are your values in business, a Bitcoin type meeting your taste is out. In 2016, a new cryptocurrency joined the market with the promise of revolutionizing digital transaction through advancing the privacy and transparency in this arena.

Zcash claims to be the https option for the Bitcoins. Just like the https is an advancement of HTTP, the developer of this coin stated that it will enhance security and privacy in the blockchain transactions.

Importantly, Zcash offers the users an option to shield their transaction by encrypting them with a cryptographic technique known as zk-SNARK. This method makes it hard for users to cheat or steal coins giving it an upper hand over Bitcoins. As such, if you are looking to invest in a secure cryptocurrency, then Zcash is your best fit.

There are more than 700 altcoins to Bitcoin. However, the above are popular and gaining value with time.

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