New Delhi: It is very important to understand for any beginner, who wishes to invest in cryptocurrency, that its market is volatile. If you are also interested in investing in the cryptocurrency market, the safest way to make a profit is to know about types of cryptocurrencies. It will help you to select the right coin to invest in.
Beginners must keep in mind that investment in cryptocurrency is not safe so they should avoid putting in more money than they can afford to lose.
Below in this article, we will tell you different types of cryptocurrencies with the information of their price and market capitalization.
The list of different types of cryptocurrency is as follows:
1. Bitcoin (BTC)
Price: $38,469
Market Cap: $727,550,374,174
Bitcoin is the most popular digital cryptocurrency in the market and it is also the most expensive currency. It was allegedly created by Satoshi Nakamoto in 2009.
2. Ethereum (ETH)
Price: $2643
Market Cap: $316,743,239,800
In the cryptocurrency market, it is the second most recognized currency. Ethereum’s smart contract makes it a popular currency.
3. Tether (USDT)
Price: $1
Market Cap: $79,660,411,336
Tether is known as a stable coin in the cryptocurrency market. Its value is tied to the value of a specific asset. In this currency’s case, it is the US Dollar.
4. XRP (XRP)
Price: $0.726778
Market Cap: $34,840,877,217
XRP was created in 2012 as Ripple. Later, its name was changed. It is believed not to be a secure as it uses a trust-less mechanism to complete the transaction.
5. Binance Coin (BNB)
Price: $367
Market Cap: $61,755,835,632
Binance Coin was primarily created as a token to pay for discounted trades. Binance coin was created by Binance, which is considered among the largest crypto exchanges in the world.
6. Solana (SOL)
Price: $89
Market Cap: 28,382,901,996
Solana was launched in March 2020. It is famous for completing the transaction in a very short time and powerful web-scale platform.
