Cryptocurrencies - Overview of popular virtual currencies

If you’ve been able to find this article, then you’ve probably heard that people make a lot of money by trading cryptocurrencies (you’ll also hear terms like virtual currency and virtual asset). If so, you may want to consider investing, but for some reason or another, you’ve never been able to explore the world of cryptocurrency in more detail.

Believe us, you’re not the only one.

Most people face the same problem, because our daily activities consume most of our time. As a result, you may also struggle to do proper research because there is simply too much new information.

The state of classical coins.

In the field of classical currencies, we have the euro, the US dollar, the Japanese yen, the Indian rupee, the Russian ruble, the Croatian kuna and much more. These coins come from and are geographically linked to a single country or community of countries (the European Union or the United States of America). Geographically, their use is obviously limited. For example, you cannot pay for coffee in Finland in Russian rubles, as it is not an accepted form of payment. They will (probably) only accept euros or dollars.

When the value of individual cryptocurrencies is displayed, they are most often converted into globally accepted currencies and, more importantly, relatively stable currencies. The most used real currencies for this type of value representation are the US dollar, the euro and the Japanese yen. We can conclude that these currencies are somewhat more stable, more reliable and, in general, more secure and widely used.

What is the status of cryptocurrencies?

Unlike conventional currencies, which are issued and operate mainly in a clearly defined location, cryptocurrencies have no geographical constraints. And unlike classic coins, you can store them online or offline in so-called cryptocurrencies.

There are also many more cryptocurrencies than Bitcoin. Find out what value the most popular of them currently have.

At the time of writing, there are at least 15500 different coins available at coinmarketcap.com

What is Alt and what are the cryptocurrencies?

Bitcoin is a network that offers an innovative payment system and digital money, this being the first decentralized peer-to-peer payment system and supported by users without a central authority or intermediaries. In other words, Bitcoin is big money for the Internet.

Ethereum is a cryptocurrency that was developed by researcher and programmer Vitalik Buterin and was launched in 2013. The first online payments were registered only in 2015 through Etherium and Etherium Classic - payment platforms based on intelligent open-source systems. These systems allow digital currency trading freely and securely.

In global terminology, the term “currency” is also used to refer to cryptocurrencies. Bitcoin was created as the first currency. It sets standards, guidelines and is a kind of basis for all other currencies that have been created since then and are an alternative to Bitcoin in a variety of different ways. The unwritten consensus on how these currencies are called is the word “other-currency” (alternative currency).

Many different currencies have already been created and this trend is expected to continue for some time. At the same time, it is expected that many will not last and will disappear over time. The surviving cryptocurrencies will be the ones that will be able to prove their value, usefulness, uniqueness and be able to serve their purpose in a meaningful way.

This is evident on the coinmarketcap.com platform, where we can see that of the approximately 15500 listed cryptocurrencies, at least about a third of them do not have a significant market share or a daily trading volume. There is a good chance that these currencies will not stand the test of time. Such a wide range of currencies offers you many different trading opportunities.