Different Types Of Cryptocurrencies And Their Importance

The use of cryptocurrency has become a regular subject of discussion in all discussions about finance, and is now accepted as a possible alternative method of payment for fiat currencies.

Cryptocurrency is now a regular subject of discussion in all conversations about finance. The digital currency has gradually begun to gain acceptance in international markets as a different method of payment for fiat currencies. For the uninitiated, cryptocurrency is a type of digital currency which is managed by blockchain technology. Blockchains are computer networks that are highly advanced which are built using maths and programming. Contrary to fiat currencies, which are issued by the government and are controlled by banking authorities, cryptocurrency is totally decentralised and not controlled or issued by any authority or government.

Coins are made up of cryptocurrencies and tokens. Coins function through their own blockchains and are worth their weight when they are used to find out more pay to make transactions. Tokens however are built on the existing blockchain.


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Here’s five most popular cryptocurrency. For the latest prices on cryptocurrencies go here.

1) Bitcoin

Bitcoin is the oldest and most well-known cryptocurrency around the globe. It was launched in 2009. It was the first cryptocurrency decentralised that enabled transactions with their own technology for blockchain. As of the date of this article, Bitcoin was priced at approximately 37.34 lakhs. 37.34 lakhs.

2) Ethereum

Ethereum is an online cryptocurrency that makes use of blockchain technology to support smart contracts. It is a software decentralised that permits smart contracts to be created on its network and then run on it with no oversight or concern about fraud by any third entity. Ether is the currency used to allow transactions through Ethereum. Ethereum network. Ethereum is currently worth around 2.46 lakhs. 2.46 lakhs.

3) Dogecoin

The cryptocurrency was developed using a well-known meme with an adorable Shiba Inu dog in its emblem. The meme became extremely popular as was the cryptocurrency whose price soared after receiving support by Tesla Chief Executive Officer Elon Musk. Musk has managed to shake up the unstable crypto market by investing in the meme’s currency. Dogecoin like Bitcoin does not have a limitation on the number of currencies that are mined. It’s currently available for purchase at 22.49.

4) Cardano

Cardano was created using an approach to research by a visit here group composed of engineers, mathematicians and cryptographers. Within the cryptocurrency ecosystem, Cardano claims to be more durable and balanced currency in comparison to the other cryptocurrency. The current price is the price of 210.78.

5) Litecoin (LTC)

1CommentsIt was invented at the end of 2011 , by Charlie Lee, a graduate from MIT and an engineer at Google. It was among the first cryptocurrency that used the same principles of Bitcoin. While it’s based on Bitcoin, Litecoin generates at a higher rate andconsequently, provides the fastest transaction speed. It is currently available for purchase at 1363 rupees.