We all have seen online hype from Bitcoin, Elon’s Dogecoin and the next big things Safemoon. In April 2021, the digital currencies of Wrapped Bitcoin and Bitcoin both reached a price that was over 60,000 U.S. dollars.
Bitcoin had the biggest cryptocurrency for a while, with one coin valued at around 46,000 U.S. dollars for most of early 2021. Ethereum was significantly cheaper, though, with a price that was over 30 times less than that of the most well-known digital currency.
What is a cryptocurrency?
Cryptocurrency is virtual commodities designed as currencies without a centralized regulating authority. Like a regular fiat currency, they have value only because their users agree upon the value. However, since there is no central authority to guarantee the price of these currencies, the price can be quite volatile.
Investment in cryptocurrencies
Many investors see this volatility as an opportunity. The fluctuation in the price of Bitcoin and other expensive digital currencies attracts speculators. Others might be more drawn to the blockchain, the distributed ledger technology that makes crypto coins like bitcoin more secure. This may be why the number of Blockchain wallet users globally is increasing from year to year.
Here are The Biggest Cryptocurrency
As of May 03, 2021