Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Monero, and Zcash are considered by many to be the top 9 crypto coins.
These coins have the highest market capitalization and are the most widely traded. They’re also the most well-known and have been around the longest. So if you’re considering getting into the world of cryptocurrency, you might want to start with one of them.
In this article, we’ll review each of the top 9 crypto coins in detail so you can determine which one is best for you. But first, let’s answer the fundamental question: What is cryptocurrency?
What Is Cryptocurrency?
Cryptocurrencies are decentralized digital or virtual currencies, meaning they’re not controlled by financial institutions like the United States Federal Reserve. Rather, they’re traded in a decentralized marketplace called the blockchain, which is a database of global transactions. They’re called cryptocurrencies, or simply “crypto,” because they’re secured by cryptography.
If all of that sounds like Greek to you, you’re not alone. Crypto has been around since 2009, back when Bitcoin, the first and most well-known cryptocurrency, was created. But over a decade later, it still eludes most people.
The truth is that successfully investing in crypto doesn’t require esoteric knowledge. It simply requires understanding what these coins actually are: Intangible fiat without any inherent value. The value of cryptocurrencies is derived solely from the value that individuals and groups assign to them. In other words, their value is determined by simple market supply and demand.
Today, cryptocurrencies continue to gain momentum, and some of them are recognized as legitimate legal tender. You can purchase them on exchanges in USDs or even with credit cards, although the latter is not always advisable.
Read on to learn about the top 9 crypto coins you should consider investing in.
Top 9 Crypto Coins
Bitcoin, Ripple, and Ethereum are the top three coins by market capitalization. Bitcoin is the original cryptocurrency and is still the largest by far.
1. Bitcoin (BTC)
Bitcoin is first on the list of the top 9 crypto coins because it was the first crypto coin ever developed. It is unique in that there are a finite number of them: 21 million. And it was initially released in 2009 by an anonymous person or group of people under the name Satoshi Nakamoto. Since then, Bitcoin has gained popularity as both an investment and a payment method.
Currently, it trades as the most expensive cryptocurrency on the market.
2. Ethereum (ETH)
Ethereum’s token ether (ETH) ranks second after Bitcoin in terms of market capitalization and has a total supply of around 101 million ETH.
3. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a cryptocurrency coin created as a result of a fork in the Bitcoin blockchain. The main difference between the two is that Bitcoin Cash has a larger block size, which allows for more transactions to be processed per block. This makes processing transactions with Bitcoin Cash much faster than with Bitcoin.
Additionally, Bitcoin Cash also has lower transaction fees than Bitcoin. The one downside of BCH, however, is that its larger block size makes the Bitcoin Cash blockchain more complicated than the Bitcoin blockchain, which can lead to increased security risks.
4. Ripple (XRP)
Ripple is one of the largest cryptocurrencies and is considered one of the most promising coins with regard to mainstream adoption. The founders of Ripple believe that “the internet will have its own native currency” and that digital assets will allow for “the internet of value” to be created. The key difference between Ripple and other digital assets is that it was designed specifically for use by financial institutions as a way to speed up settlements and reduce costs.
5. Dash (DASH)
Dash is among the top 9 crypto coins because it has several advantages over other coins. For starters, it offers near-instantaneous transactions thanks to its unique InstantSend feature. This allows users to send and receive Dash payments in seconds without waiting for confirmations from the blockchain. Dash also offers a high level of privacy thanks to its PrivateSend feature.
6. Litecoin (LTC)
Litecoin is a cryptocurrency that was created in 2011 as an alternative to Bitcoin. Like Bitcoin, Litecoin uses a blockchain for transaction processing and is also mined by computers. However, there are some key differences between the two cryptocurrencies. For example, Litecoin has a faster block time, meaning that transactions are processed faster.
7. Ethereum Classic (ETC)
Ethereum Classic (ETC) differs from Ethereum (ETH) in its philosophy and approach. ETC is widely thought to be more energy efficient than ETH. The two also differ in terms of their economic models.
As ETH has a higher market capitalization than ETC, ETC has a much lower buy-in. Therefore, it’s more accessible to novice crypto traders.
8. Monero (XMR)
Monero is a digital currency that offers its users a high degree of anonymity. Unlike most cryptocurrencies, which are based on the Bitcoin blockchain, Monero uses a unique algorithm called CryptoNight that makes it much more difficult to trace transactions. It’s included on this list of top 9 crypto coins for its value to those that require added privacy.
9. Zcash (ZEC)
Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private. Launched in October 2016 as a fork of the Bitcoin blockchain, Zcash is led by the non-profit Zcash Foundation.