To stay afloat on the cryptocurrency boat, it is necessary to stick to a few tried and tested ones before you begin to look at other relatively unknown cryptocurrencies.
There are thousands of cryptocurrencies in circulation today, which can make it confusing and overwhelming for first-time users to know exactly which cryptocurrencies to put their trust in. Add to that the fact that certain unknown cryptocurrencies induce FOMO by jumping over 100% in value sometimes.
To stay afloat on the cryptocurrency boat, it is necessary to stick to a few tried and tested ones before you begin to look at other relatively unknown cryptocurrencies. Keeping that in mind, we’ve compiled the top 10 cryptocurrencies by market value as of August 2021 to get you started on your crypto journey.
1 – Bitcoin
The big daddy of it all, Bitcoin is the original cryptocurrency created in 2009 by someone or some group under the name of Satoshi Nakamoto. As with most cryptocurrencies, Bitcoin runs on a blockchain, which is a network of thousands of computers that verifies transactions in real time without any middleman.
With additional concepts like proof of work built in, Bitcoin is secure and safe from any hacking attempts. It’s market cap at the end of August was over $856 billion with the price of a single Bitcoin rising from about $500 five years ago to over $45,000 today, implying a staggering return of 8900%.
2 – Ethereum
Ethereum is a blockchain network with Ether or ETH as its native token, and it is commonly referred to as a cryptocurrency too. If you’ve heard of NFTs being sold digitally, they’ve mostly been processed using the Ethereum blockchain. It is one of the more solid platforms that is constantly trying to upgrade and stay on top of trends – its latest initiative aims to reduce dependence on fossil fuels by a significant amount.
As a cryptocurrency too, it has delivered staggering returns, going from $11 to over $3000 in a span of five years, marking a return of a jaw-dropping 27,000%. It’s current m-cap stands at over $357 billion, making it the second-biggest cryptocurrency in the world.
If you’re wondering where you can get in on the action, allow us to recommend Zebpay that allows you to start investing in cryptos of your choice starting with just INR 100. All you need to do is enter your mobile number and quickly verify yourself with a simple KYC process to start buying your first cryptocurrency.
3 – Binance Coin
With a market cap of over $70 billion, Binance Coin is the third-most popular cryptocurrency available today. It can be used for trading, payment processing or even booking travel arrangements and can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.
In India, cryptocurrency platform Zebpay offers something even better for its users. With Zebpay Earn, KYC-registered users are eligible for daily returns on select crypto holdings. In effect, you get paid in crypto just for holding some crypto with rate of return varying from 1% to 7.5% depending on the coins and cryptocurrency you own. Zebpay Earn is a great way to store cryptocurrency and generate returns on your crypto holdings.
4 – Cardano
Cardano is one of the newer cryptocurrencies but its made a splash and is currently one of the most-talked about cryptocurrency. It is known for relying on the newer proof-of-stake method to validate transactions that uses less energy compared to bigger cryptocurrencies. It’s market cap at the end of August 2021 was a sizeable $69 billion.
5 – Tether
Tether, with a m-cap of $64 billion, is a different type of cryptocurrency called stablecoin that is backed by fiat currencies such as US dollars, making it more consistent and reliable compared to other volatile cryptocurrencies.
6 – XRP
XRP was created by the same team behind digital technology company Ripple, that is used as a network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. XRP’s market cap stands at $52 billion at the end of August 2021.
7 – Dogecoin
What started as a meme has today turned into a cryptocurrency worth over $40 billion. Here’s a fascinating fact – in 2017 the value of Dogecoin was $0.0002 and today it’s $0.31, implying growth of 154900% in five years!
8 – Polkadot
Polkadot was launched in 2020 and in just a year, it’s value has gone up from $2.93 to $25.61 – a 774% growth! Polkadot’s USP is that its trying to create a cryptocurrency network that connects the various blockchains so as to make them work together. It’s m-cap is at over $25 billion currently.
9 – USD Coin
USD Coin is another stablecoin that has a market value of $23 billion and counting. It is powered by Ethereum and it can be used to complete global transactions.
10 – Solana
Last but not the least, Solana, with a m-cap of over $20 billion is yet another cryptocurrency that’s been making news recently for its unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. Solana was also launched in 2020 when it cost $0.77 and has today grown by 9405% to currently trade at $73.19.
With so many options available, it should be easier to take a decision on which cryptocurrency appeals to you the most and start investing small chunks of money into it. As we’ve said earlier, you can open a Zebpay account and start investing as soon as you complete the KYC formalities and can even earn crypto by holding your favourite cryptocurrency with Zebpay Earn. Go on, start your cryptocurrency journey today!