Like in any market, there are many players, but in a real sense, only a few control the game. The same can be said about crypto currencies. There are many crypto coins, but very few have made it this far and continue growing.
It is barely impossible to talk about a Crypto currency without mentioning Bitcoin. Suffice not being the oldest company they have so far been the most successful
What makes Bitcoin a top Crypto Currency?
Value of each coin
Bitcoin value has skyrocketed so far, and each coin is valued at around $3000. This by far out values any other commodity in the market. In the past three years, Bitcoin has outperformed gold and oil in the market standing tall as the most valuable commodity in the stock exchange. With its reputation still growing it only a matter of time before more people invest in it even more.
It has been around
With age comes stability, this is an old business saying that has its truths. For a company to last so long, they must be doing something right. And the longer they stay, the larger they grow and the more value they acquire. The crypto currency market is not for the feeble hearted many companies have come and gone, but Bitcoin remain.
Bitcoin is the most popular crypto currency and hence most widely used. As its popularity grows so does its value.
Many crypto currencies have focused on one element rather than a variety. Bitcoin has decided to spread its wings and be used for a variety of things. It can be utilized as a method of storing value like many other crypto currencies, but you can make purchases with the coin as well making it useful for the everyday internet user.
Overall value: $3.8 Billion
Considered as Bitcoin’s biggest competitor Ethereum is popular for completely different reasons.
What makes Ethereum a top crypto currency?
The back end of many crypto currencies uses what we call Blockchains. This is data that is readily available to any user to see how the coins move. With Bitcoin, the blockchains are relatively open but remain vague with no clear information of how the currency moved.
Ethereum makes this vagueness tightening the security and reducing the possibility of hacking.
Its coding is great App developers
With the Blockchain system Ethereum has, it creates a perfect platform for app developers to thrive their app on this system. With app development still a major part of the internet today Etherem has ridden this tide to value each coin at around $2500 per coin. Though it heavily relies on App developers for this value, they seem to be still rising with more applications joining crypto currency.
Age and stability
Just like Bitcoin, Ethereum is an old dog. By them being around, you get the sense that they are stable and will still be around In case of any shake up in the market because you have to admit it crypto currency is a very volatile market.
Suffice the company not being new, Etherem is thought to have the most potential of any crypto currencies. The backing of App creators who build their application riding on this platform is a big reason for this. The second is that their blockchain system is highly sophisticated yet flexible. Meaning it can accommodate many more changes in the market, unlike other crypto currencies. It all boils down to the Ethereum Blockchain system.
Value $352 million
Bitcoin has overshadowed Litecoin for most of its time. And taking a closer look, there are many similarities between the two companies. But they do have some great qualities, and that is the reason they have grown to be so valuable.
What makes Litecoin a top crypto currency?
People may overlook at how important leadership is, but the truth is leadership is one of the pillars of any successful company. Litecoin is led by ex Googler Charlie Lee. Mr. Lee prides himself in transparency and often takes on social media to affirm his decision to Litecoin users. This openness gives Litecoin security not many other crypto currency companies have.
Small transaction charges compared to other crypto currencies
Suffice Litecoin copying many elements from Bitcoin they have tried to reduce transaction cost which is a lovely concept to many investors.
Value $161 million
What makes Monero one of the top crypto currencies?
Suffice crypto currency priding themselves as an anonymous service most blockchains show some level of identity and where the money is going. But with Monero this is completely impossible to see meaning you can move funds completely anonymously. This makes it very popular with people who want to stay unknown and is somewhat considered a dark internet crypto currency.
Value $100 million