If you’ve been thinking about entering the world of cryptocurrency but don’t know much about it, you’ve come to the right place.
Below is a beginner’s guide on what it is, how it works, the cryptocurrencies that have the largest market capitalization (total value), how to invest and more worthwhile information.
Here’s everything you need to know about cryptocurrency.
Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.
You can use cryptocurrency to buy products from retailers who accept it as payment, such as Overstock, or sell it to make a profit.
There is currently over 8,000 different types of cryptocurrency, according to CoinMarketCap.
These are currently the 10 largest cryptocurrencies to trade by market capitalization, according to real-time data tracked by CoinMarketCap (Note: market capitalization is constantly changing).
- Bitcoin (BTC): $1 trillion
- Ethereum (ETH): $202.9 billion
- Binance Coin (BNB): $39.2 billion
- Tether (USDT): $38.5 billion