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The news of cryptocurrencies has crowded the financial press for many years. However, it is still a challenge to get a grip on what crypto exactly means and ways to measure its success and failure. One of the best ways of gauging these virtual currencies is to check out their face value that varies with not only supply and demand but also public sentiment. Read along to become aware of the 10 most expensive cryptocurrencies below, and if you want an overview of everything check out directly at bitcoin-circuit.live.
10 Most Expensive Cryptocurrencies
Bitcoin
- It is well-known crypto.
- A lot of people invest in this digital currency.
- This is because the undisrupted flow of investment is the low fees for a transaction that it offers.
- It is much less than any method of conventional online payment.
- It is operated in a model that is decentralized. So the government is unable to intervene in this process or moderate it.
Ethereum
- After Bitcoin, this is the crypto that is traded most.
- Ethereum is unique because of its open-source platform that is blockchain-based.
- It offers an additional security layer to all investors.
- It being a programming language aids developers in building and publishing distributed apps.
- Enthusiasts of crypto see the fall of Bitcoin as an opportunity for Ethereum to reach the top.
YearnFinance
- On 20th December 2021, it held second place due to its token price of $37120.
- It comes with a low maximum coin supply at 36,666.
- Its price rises relative to most of the other cryptos as it has already reached the limit of supply.
Maker
- Similar to other cryptocurrencies, it can be accessed to trade on a huge variety of crypto exchanges such as Binance and CoinTiger.
- It has features that are somewhat the same as that of a company’s share.
- Each holder comes with the right of voting on the coin development that is meant for usage on the decentralized finance platform.
Binance Coin
- It is a digital currency that can be availed for trading and paying fees on the exchange of Binance crypto at each trade fee of 0.1%.
- It offers many uses like trading, payments through credit cards, transaction fees on its exchange, processing of a payment, investment, transfer, loans, and so on.
- The price of this crypto has been unstable because of some chaos and thus it ignited high market volatility.
Cardano
- It is a decentralized blockchain platform.
- Its functionalities are the same as that of another crypto of the blockchain such as Ethereum.
- But it is different from others as its developers make use of scientific research that is peer-reviewed for building blocks for some updates to ensure changes done are effective and scalable.
- It has some prominent engineers and thus it redistributes power from an unaccountable structure to the margin.
- For all positive changes or progress, Cardano is an empowering force.
Tether
- It is a stable coin.
- Tether aims at keeping the valuation of the crypto stable.
- It is preferred highly by investors of digital currency who wish to stay away from volatility and maintain gradual growth.
- It is facing some trouble related to law enforcement over legitimacy.
- It declared that it will be making its stable coin token available as one native asset in Avalanche that is a smart contract platform.
XRP
- It is known to be technology acting not only as crypto but also as a network for digital payment to allow successful financial transactions.
- It is capable of settling transactions within 3-5 seconds.
- A huge XRP wallet transferred digital currency worth US $93 million to some unknown wallet recently and stirred controversy.
Polkadot
- It connects many specialized blockchains into a unified network.
- It aims at creating a web where the identity and data get secured safely from a central authority.
- It builds on the previous blockchain network’s revolutionary promise and offers many fundamental benefits.
Bitcoin Cash
- It is used for solving a few issues of Bitcoin as it became highly popular.
- It is that version of Bitcoin that caused an increase in the capacity of transactions.
- They do have philosophical differences but both these currencies share many technological and technical similarities.
- Currently, the upgrade of Bitcoin Cash has successfully applied to the blockchain.
- Thus it brought many features directed towards the improvement of the total user’s experience.
Conclusion
Cryptocurrency is not only volatile but also unpredictable. If you are a wise investor then you will invest funds that you can afford to lose while dealing in the cryptocurrency market. The price of a digital currency may vary, sometimes drastically from one day to another. So it is vital to consider account market capitalization, the volume of trading and proper accessibility on different cryptocurrency exchanges when you evaluate such new digital money.
Reviewed and edited by Albert Fang.
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Article Title: 10 Most Expensive Cryptocurrencies
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