What is Cryptocurrency & How Cryptocurrencies work
Today everyone wants to invest money by seeing the money growth in cryptocurrency. But some people are afraid to invest their money due to a lack of knowledge about cryptocurrency or invest in some other shares by not investing here, in which they get very less return. Today I will tell you the Top 5 Cryptocurrencies in April 2022, their technical way of working, their performance so far, everything in very short words.
What is cryptocurrency
Cryptocurrency first appeared in 2009. The name of the person who first brought it to the world is Satoshi Nakamoto. He is also known as the Father of Cretecurrency. Today there are more than 5000 cryptocurrencies in the market. But the popularity of bitcoin is still at the top of the market, Satoshi Nakamoto brought this bitcoin in front of the world. This is the world’s first cryptocurrency. They believed that there should also be a safe electronic method of making payments. Some such method in which no one can cheat anyone, the records of all the payments should be stored in many places instead of one.
That’s why he discovered blockchain and cryptography techniques.
What is Blockchain Technology in Cryptocurrency
Blockchain Technology – Blockchain technology stores the data of all the transactions in blocks. When the data in one block is filled, then the next data is put in the next block and that next block is already connected through the chain. Similarly, when every block is filled, the new block is connected to the filled old block, which is called BlockChain Technology.
What is Cryptography Technology in Cryptocurrency
When the user does a transaction, every transaction is recorded to maintain transparency, but to maintain the privacy of the user, his information is not kept in the original word but keeps it in the coded form, this technique is called cryptography.
I hope you have been able to understand cryptocurrency and cryptocurrency working concepts so far. Now I am going to tell you about the top 5 cryptocurrencies, their highest performance, from which you will get the idea that if you had invested in them in the beginning, then how much money would you have today or how much your money will grow.
Bitcoin is the world’s first cryptocurrency and it is in 1st position in our Top 5 Cryptocurrencies in April 2022 list. It was brought to the world by Satoshi Nakamoto in 2009 with a new decentralized payment system, in which there is transparency, every transaction is stored in more than one place, and that too with full information of the user and that too cryptography. with privacy. Now, what is this decentralized payment system? A decentralized payment system is called that in which the bank does not have a direct role, no government has a role, your money will be your rule, no one will know anything about you like how much money you have, who are you? Everything will be stored in Blockchain technology and cryptography technology. And when you are transacting with someone, you will need a unique code which will be verified by the majority of bitcoin holders, it just takes a few seconds and your payment/transaction will be done. This is what makes bitcoin trustworthy and secure. If we talk about growth, then one bitcoin in 2016 became $500 in 2022 and the same bitcoin became $46300. That is, if someone bought $500 of bitcoin in 2016 and sold it today in 2022, he would get $46300. This is an increase of 9160% on your money.
Today Bitcoin holds an $880 billion Market cap Value.
Read more About Bitcoin:- Click here
Original Website:- https://bitcoin.org/en/
Ethereum is also a famous cryptocurrency. After Bitcoin, Ethereum is the second most famous cryptocurrency in our Top 5 Cryptocurrencies in April 2022 list in which people have the most trust. Ethereum has also given good growth to the users. One Ethereum was worth $11 in 2016 and one Ethereum in 2022 was worth $3450. Meaning users who bought one Ethereum in 2016 for $11 dollars would get about $3450 by selling it today. This is an increase of 31263 % on your money.
Today Ethereum holds $415 billion Market cap Value.
Also Read:- Top 10 Earbuds Under 2000
Read more About Ethereum:- Click here
Original Website:- https://ethereum.org/en/
Tether is also a famous cryptocurrency and also Known as Stablecoin currency. This is the third most famous cryptocurrency on which people have the most trust. Tether has also given good growth to the users. The price of Tether depends on 2 currencies, one US currency dollar and the other Euro. Its price is set on the fluctuations of these currencies. Investors like this currency very much because it does not fall much in its currency due to its dependence on the dollar and euro.
Today Tether holds $79 billion Market cap Value.
Read more About Tether:- Click here
Original Website:- https://tether.to/en/
Binance Coin is also a well-known cryptocurrency. Binance Coin is the famous cryptocurrency that people trust the most. Binance Coin is launched in 2017. Binance Coin has also given good growth to the users. The price of one Binance Coin in 2017 is $0.10 and the price of one Binance Coin in 2022 is $445. Meaning users who bought one Ethereum in 2016 for $0.10 would get around $445 selling it today. This is an increase of 4,44,900% on your money.
Binance Coin also increased its payment platforms now people can use Binance Coin for trading, payment processing & even travel booking.
Today Binance Coin has a market cap value of $68 billion.
Read more About Binance:- Click here
Original Website:- https://www.binance.com/en
U.S. Dollar Coin (USDC)
U.S. Dollar Coin (USDC) is also a stablecoin like Tether. Meaning it will depend on the dollar value. It is managed by Ethereum.
Today U.S. Dollar Coin (USDC) has a market cap value of $53 billion.
Read more About USDC:- Click here
Original website:- https://www.coinbase.com/usdc
Conclusion:-So, I hope you will learn from our post Top 5 Cryptocurrencies in April 2022. I have covered everything about Cryptocurrency in Detail, from Basic to top-level questions about Cryptocurrency if you have any regards just comment below.