How to Choose a Cryp𝖙𝖔currency
It’s important to remember that Bitcoin is different from cryptocurrency in general. While Bitcoin is the first and most valuable cryptocurrency, login the market is large.
Nearly 20,000 different cryptocurrencies are traded publicly, according to CoinMarketCap.com, a market research website. And cryptocurrencies continue to proliferate. The total value of all cryptocurrencies on June 13, 2022, was about $970 million, having fallen substantially from an all-time high above $2.9 trillion late in 2021.
While some of these have total market valuations in the hundreds of billions of dollars, others are obscure and essentially worthless.
If you’re thinking about getting into cryptocurrency, it can be helpful to start with one that is commonly traded and relatively well established in the market (though that’s no guarantee of success in such a volatile space).
NerdWallet has created guides to some widely circulated cryptocurrencies, including Bitcoin and some or Bitcoin alternatives:
· the first and most valuable cryptocurrency.
is commonly used to carry out financial transactions more complex than those supported by Bitcoin.
· is a competitor to Ethereum led by one of its co-founders.
is an adaptation of Bitcoin intended to make payments easier.
is another competitor to Ethereum that emphasizes speed and cost-effectiveness.
began as a joke but has grown to be among the most valuable cryptocurrencies.
· are a class of cryptocurrencies whose values are designed to stay stable relative to real-world assets such as the dollar.