Cryptocurrencies have become a popular investment option in recent years, with Bitcoin leading the way as the original cryptocurrency. Adam Hayes, Ph. D., an expert in behavioral economics and finance, has a master's degree in economics from the New School for Social Research and a doctorate in sociology from the University of Wisconsin-Madison. He is also a holder of the CFA and holds FINRA Series 7 licenses.
Bitcoin is the first cryptocurrency to gain widespread recognition and continues to be the leading reference in the space. Ethereum (ETH) is the first alternative to Bitcoin on our list and is a decentralized software platform that allows users to create and execute smart contracts and decentralized applications (DApps) without any downtime, fraud, control or interference from third parties. The goal of Ethereum is to create a decentralized set of financial products that can be freely accessed by anyone in the world. Tether (USDT) was one of the first and most popular stablecoins that aim to link their market value to a currency or other external reference point to reduce volatility.
Binance Coin (BNB) is a useful cryptocurrency that works as a payment method for fees associated with trading on the Binance exchange. Cardano (ADA) is an “Ouroboros” proof-of-stake cryptocurrency created with a research-based approach by engineers, mathematicians and experts in cryptography. Other major cryptocurrencies include XRP, Solana, USD Coin and Cardano. After the creation of Bitcoin, the number of cryptocurrencies available on the Internet has grown exponentially.
This article provides an overview of the top five cryptocurrencies: Bitcoin, Ethereum, Tether, Binance Coin and Cardano.