Don't confuse cryptocurrency with digital currency
Cryptocurrencies are digital assets based on blockchains that serve as vehicles for transferring value in decentralized networks and applications.
Digital currencies are any form of money in digital form, such as virtual money backed by a central bank.
How many types are there?
According to Forbes Advisor, there are currently 21,750 cryptocurrency projects representing the entire $852 billion crypto market.
How does it actually work?
Central to the appeal and functionality of cryptocurrencies is blockchain technology. As the name indicates, a blockchain is essentially a set of connected blocks or an online ledger.
Each block contains a set of transactions that have been independently verified by each member of the network. Every new block generated must be verified by each node before being confirmed, making it almost impossible to forge transaction histories.
What is the point of cryptocurrencies?
Cryptocurrencies are a new paradigm for money, with the promise of streamlining existing financial architecture to make it faster and cheaper.
Their technology and architecture decentralize existing monetary systems, making it possible for transacting parties to exchange value and money independently of intermediary institutions such as banks.
Everything you wanted to know about cryptocurrencies, but were too afraid to ask
Binance
Its market is mainly Asian. It has more than 140 altcoins to choose from and offers easy price tracking and cryptocurrency trading.
Related apps
Coinbase
Investment platform. It is easy to register, and they give you bonuses, its interface is very intuitive, and it has a price alert system.
Kucoin
This application is used to publish cryptocurrencies that have potential, it is very intuitive.
Disclaimer: the information provided is for informational purposes only and is not intended as a recommendation or endorsement of any particular product, service, or course of action.
Information of Forbes, Top 10 Best Cryptocurrencies of 2023
Some examples of Cryptocurrencies
Bitcoin
Created in 2009 by Satoshi Nakamoto, Bitcoin is considered the original cryptocurrency. In 2016, you could buy one for around $500, but by November 2022, the price had risen to around $416,936, representing a growth of 3,287%.
Ethereum
It has potential applications such as smart contracts and non-fungible tokens (NFTs). From 2016 to 2022, it has shown tremendous growth from $11 to $1,272, increasing by 11,463%.
Market capitalization: $155.7 billion.
Tether
It is considered a stable currency that is backed by fiat currencies such as the US dollar and the euro.
Market capitalization: $66 billion.
Binance
It is one of the largest cryptocurrency exchanges in the world alongside Binance, Ethereum, and Bitcoin. In 2017, BNB had a price of $0.10. By the end of November 2022, its price had increased to $279, generating a gain of 278,925%.
Its market capitalization is $444.6 billion
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