Bitcoin
BTC$69 187.87

-0.65%

Ethereum
ETH$2 486.25

-1.16%

Tether
USDT$0.999719

0%

Binance Coin
BNB$567.27

-1.13%

Solana
SOL$165.45

-0.87%

USD Coin
USDC$1.000009

-0.01%

Everything You Need to Know About Cryptocurrencies


May 2022

The concept of money as we know it has evolved in recent years from purely physical money to a combination of the physical; digital representations of physical money; and now cryptocurrencies. Cryptocurrencies are designed to work on electronic equipment such as computers, mobile phones, or even specialized USB devices. Blockchain technology underpins their entire structure, where the data stored is immutable.

By creating a record of all transactions and establishing a decentralized method of validation, blockchain technology allows instant transactions without the need for intermediaries. Most cryptocurrencies are decentralized and are not backed by any government or central bank.

Why Are Cryptocurrencies Valuable?

Unlike physical money, cryptocurrencies are not created by printing, they are created through a process called mining. Mining can be described as a method of solving mathematical problems to produce new crypto coins. Bitcoin, for example, has a maximum supply of 21 million coins which is forecast to be mined around the year 2140.

In addition, transactions that involve cryptocurrencies are considered to be secure and rapid. Transfers can be carried out in a matter of minutes with much lower fees than traditional bank transfers, which can take up to 5 days.

All transactions are recorded in the blockchain, and data cannot be modified. Once the data is validated, the block is completed and added to the chain. Every block contains a unique digital signature, and the network will not accept any changes to existing blocks on the blockchain. When new data is added, it is stored in a subsequent block, continuing the chain.

Not All Cryptocurrencies Are the Same

Bitcoin was launched in 2009 when it didn’t have any competition in the market. By 2011 however, new types of competitors emerged using blockchain technology to launch their own platforms and cryptocurrencies. Today, there are thousands of different cryptocurrencies that can be divided into two categories:

Most tokens are created to be used with decentralized applications (dApps). The tokens are then used to activate various features of the dApps such as allowing a person to trade with discounts fees (Binance does this with BNB) or other tokens are created to represent a physical thing such as real estate or electricity (WePower). The token in this case would represent the property in the creation of a smart contract.

Investing in Cryptocurrencies

Investing in cryptocurrencies has grown in popularity because it is an investment option available to anyone with an internet connection. Cryptocurrencies are becoming a conventional means of payment across the globe, as there is no other technology that allows money to be transferred without the need for central banks. It is safe to say that digital currencies are shaping the future. However, virtual currencies are high-risk financial assets due to their high volatility. For this reason, if you decide to invest in them, you must do your own research and develop a cryptocurrency investment or trading strategy.

It is essential to understand the fundamentals of their technology to have the basic knowledge of their performance. Many investors and traders diversify their portfolios to balance their investment and reduce potential risks.

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.8% 40 $69 187.87 -0.65% 3.36% $1 368 322 703 656 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 86% 21 $2 486.25 -1.16% 0.52% $299 369 696 897 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999719 0% 0.10% $120 542 832 225 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 4 $567.27 -1.13% -2.57% $81 744 111 407 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 66.4% 65 $165.45 -0.87% -2.98% $77 895 836 424 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000009 -0.01% 0.01% $34 873 123 501 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90.4% 5 $0.510368 -0.91% -0.36% $29 023 926 568 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 64% 77 $0.157946 -1.96% 15.80% $23 159 704 045 DOGE 7 days price change
9 TRON (TRX) TRX TRON predictions 91.6% 4 $0.165396 -1.20% -0.10% $14 299 090 322 TRX 7 days price change
10 Toncoin (TON) TON Toncoin predictions 89.2% 13 $4.87 -0.97% -0.72% $12 398 878 230 TON 7 days price change
11 Cardano (ADA) ADA Cardano predictions 90.8% 7 $0.345970 -4.09% 4.24% $12 107 228 142 ADA 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.8% 28 $0.000017 -1.95% 2.59% $10 229 752 246 SHIB 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90.8% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 92% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change

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