There are about 6,000 cryptocurrency existing in the market here are top 3 cryptocurrency that can make you rich in the coming year.
A cryptocurrency is a virtual currency that is secured by cryptography. Which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
Bitcoin
It is no supersize that bitcoin still is the most popular cryptocurrency, and it is the most widely used for transactions and has the most secure form and untraceable transactions. Which makes it the most favorite for crypto investors. Besides all of it has a market cap of $790.84 billion which makes it difficult to get its price manipulated via a pump and dump and by other cheap tricks. It has restricted supply and increased demand.
If Bitcoin were a If Bitcoin were a company, it would be bigger than Meta Platforms (formerly known as Facebook) and Tesla. Bitcoin is even viewed by some investors as a good hedge against inflation since there will never be more than 21 million Bitcoin tokens in circulation.
Ethereum
It has a market cap of US$500 Billion less than half the size of bitcoin. Many believe that this is the next bitcoin. It is the base of many new currencies. Even NFTs work on Ethereum, the applications on Ethereum are run on ether, its platform-specific cryptographic token.
In future it is not sure that it can over take Bitcoin, but for the time being Ethereum appears to be in a good position to stand the test of time.
Binance Coin
Binance coin is the coin for the world’s biggest crypto exchange Binance. It is the third most popular crypto. It has a market cap of about US$96 Billion. Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
Each quarter Binance burs supplies of its digital coins according to their trading volume. Over time it is believed that these quarterly burns will eliminate about 100 Million coins. Which will intend to increase the value of these coins.
Market Cap – Market cap is calculated by multiplying the total number of coins that have been mined by the price of a single coin at any given time.
Coin Burning – Coin burning is a common mechanism through which coin creators control the supply of tokens in circulation.
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