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What is BitCoin?
Bitcoin is a virtual currency that acts as money and a form of payment outside the control of any one person, group or entity. It is rewarded to miners for their work in verifying transactions on the blockchain and can be purchased on several exchanges. Bitcoin has inspired many other cryptocurrencies since its introduction into the public eye in 2009 by an anonymous developer or group using “Satoshi Nakamoto” as their pseudonym. These competitors either attempt to replace bitcoin outright with another cryptocurrency, are used as utility tokens within blockchains like Ethereum’s ERC20 standard token standards – which are only accepted within those specific chains – or serve more security functions like being used primarily for storing value against theft risk (example: Ether).
Top 5 Crypto currency
1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Tether (USDT)
4. Binance Coin (BNB)
5. Terra (LUNA)
Bitcoin (BTC)
Bitcoin was created in 2009 by the pseudonym Satoshi Nakamoto. This is not to be confused with “Satoshi Nakamoto,” the person who designed Bitcoin and introduced it as a form of public currency on October 31, 2008. As with most cryptocurrencies that run on blockchain technology (such as Ether), there are thousands of computers that log every transaction into an immutable ledger known as a “blockchain.” These transactions must pass through various computer algorithms before they can become officially accepted and verified for use within these decentralized systems – this process is called proof-of-work (or mining). Bitcoins have grown exponentially in value since its creation; one BTC traded at $500 per coin back in May 2016 but reached new highs up to $44,000 by March 1st 2022.
Ethereum (ETH)
Ethereum is a cryptocurrency and Trading platform that can be used by developers to make applications like smart contracts. It experienced tremendous growth over the past few years, minutes specifically from April 2016-January 2019. In addition to this huge price increase Ethereum has seen in the last five months alone, it also grew significantly from its original value of less than $11 per coin in April 2016 up until January 2019; increasing more than 27,000% overall!
Tether (USDT)
Unlike some other forms of cryptocurrency, Tether is a stablecoin. It’s backed by fiat currencies like US dollars and the Euro and theoretically remains equal to one of those denominations. This means that its value is supposed to be more consistent than others cryptocurrencies while still being volatile enough for investors who are wary of extreme volatility.
Binance Coin (BNB)
Binance Coin is a form of cryptocurrency that you can use to trade on Binance, one of the largest crypto exchanges in the world. One thing that has become apparent from its launch in 2017 is it’s ability to quickly gain value as an investment vehicle. When its price began appreciating around $413 at the beginning of March 2022, investors could have potentially gained approximately 40 million percent by buying into this particular token and holding onto it! Binance Coin (BNB) has been experiencing significant growth since its release two years ago – rising from just under ten dollars per coin at October 2nd 2017 up to over 400 US Dollars within 3 months later during early march 2022-a jump 40 times greater than when first released.
Terra (LUNA)
Terra is a blockchain payment platform that relies on two types of currencies. It has a stablecoin, TerraUSD (which is tied to the value in physical currency) as well as Luna, which are used for minting more Terra tokens at any given time. The growth rate of Luna depends on how much demand there is for trading and using the platform’s service. As adoption increases so does the price of this token because it provides incentive for people to use these services over others comes about with increasing numbers when their prices rise above theirs base currency or during economic downturns where they encourage user participation by burning their own coins instead.
