Types of Cryptocurrency

T

he first encrypted currency to attract public attention was Bitcoin.

It was launched in 2009 by Satoshi Nakamoto, who the world still doesn’t know if only one person or a whole group stand behind this pseudonym. 

Until now (2021), there are 18.63 million bitcoins in circulation.

Can you guess their total market value? We will later tell you what was the price of the first bitcoin and how it went up till this day.

Bitcoin is not longer the only cryprotcurrency in circulation, though. Its success has created a number of competing coins, such as Ether, Lightcoin,Ripple, Peercoin.

The main types of cryptocurrencies are bitcoin, altcoin and tokens, but in general, all non-bitcoin cryptocurrencies are called altcoin (alt + coin = alternative cryptocurrencies).

Alternative cryptocurrencies aim to provide an improved version of bitcoin and are easier to dig, but at the cost of trade-offs and a higher risk of value retention due to lower liquidity.

Despite of the growing competition, Bitcoin is still the most dominant player.

Today, the aggregate value of all the cryptocurrencies is MORE than ONE TRILLION dollars and Bitcoin currently represents the majority of the overall market capitalisation.

Previous Article

Understanding Cryptocurrencies

Next Article

Advantages and Disadvantages of Cryptocurrency

NOTE: It should NOT be assumed that the materials presented in Nuubie (the methods, the articles, the techniques, or indicators) will be profitable, or that they will not result in losses. Any reliance you place on such material is therefore strictly at your own risk.