Top 10 Cryptocurrencies in the World
If you are new to Crypto or planning to add some more crypto to your portfolio and looking for top 10 cryptocurrencies in the world then you are on the right page. There are around 21,205 Cryptocurrencies in the world as of October 2022 and it’s really confusing all the time which one to buy.
You need to buy a cryptocurrency which has a use case thought it may not be in top 10 cryptocurrencies in the world. You need to strictly avoid the ones which doesn’t have any use case but very popular in the market.
If you follow crypto news then you might have come across big celebrities promoting a coin which we have never heard before. Those coins for sure doesn’t have any use case, it was released with an intention to scam people.
People even take advantage of the popular series and create a coin and release that on an exchange. The right example would be the Squid Coin. You need to be very careful before purchasing any kind of coin, please do your through research before investing.
Here is the list of top 10 cryptocurrencies in the world as of October 2022 and the list might be slightly get updated as per the demand and supply in the market.
The top 10 Cryptocurrencies in the World
1) Bitcoin (BTC)
2) Ethereum (ETH)
3) Tether (USDT)
4) BNB (BNB)
5) USD Coin (USDC)
6) XRP (XRP)
7) Binance USD (BUSD)
8) Cardano (ADA)
9) Solana (SOL)
10) Dogecoin (DOGE)
1) Bitcoin (BTC)
Bitcoin is the first and strongest decentralized peer-peer cryptocurrency in the world. It’s the top cryptocurrency which is considered as a store of value like gold.
Bitcoin is treated as digital gold as many people would buy the crypto and hold onto it for a longer term. It started with $0 price value in 2009 and has hit the all-time high of $64.863.10 on 14th April 2021.
Satoshi Nakamoto published Bitcoin’s whitepaper on 31st October 2008. He mined the first block on Bitcoin network on 3rd January 2009 which was almost 2 months after publishing. The first mined block is called a “Genesis Block” and thus launching the world’s first cryptocurrency.
2) Ethereum (ETH)
Ethereum is the second largest cryptocurrency after Bitcoin. It’s founder Vitalik Buterin first wrote the whitepaper in 2013.
Vitalik was writing for Bitcoin Magazine new website at 5 Bitcoins per article. There are 8 co-founders for Ethereum but Vitalik is best known and followed by Gavin Wood.
Ethereum’s price in the Initial Coin Offering (ICO) was $0.311 in 2014 and hitting an all time high of $4891.70 on 16th November 2021.
Ethereum moved from Proof-of-Work (PoW) to Proof-of-Stake (PoS) on 15th of September 2022. It’s said to reduce the energy consumption by 99.95% after the marge.
3) Tether (USDT)
Tether is a stablecoin pegged to the US dollar. It was initially launched in 2014 July by a Hong Kong based company under the name “Realcoin” and later it was renamed to USTether and finally to USDT.
In the recent times, stablecoins are used increasingly high as an inflation hedge compared to keeping fiat currency in a savings account.
The founders of USDT are Brook Pierce, Reeve Collins and Craig Sellars. Reeve Collins was the CEO of USDT for the first two years.
4) USD Coin (USDC)
USD is another stablecoin pegged to US dollar just like Tether (USDT) on a 1:1 basis. Every USD coin in circulation is backed up by $1 that is held in the US reserve.
It was launched on a limited basis in September 2018. USDC’s stablecoin mantra is “Digital Money for the Digital Age”. It’s designed for the new age world where cashless transactions are becoming more common with the smart technology.
Circle’s co-founders Jeremy Allaire and Sean Neville created USDC. A major upgrade to USDC’s protocol and smart contract was collectively announced by Circle and Coinbase in 2020.
5) Binance Coin (BNB)
Binance Coin (BNB) is an exchange-based token created and issued by the well-known cryptocurrency exchange Binance. BNB was migrated from Ethereum blockchain as an ERC-20 token to Binance Chain in July 2017 and became the native coin of the Binance chain.
Changpeng Zhao is well know as “CZ” is the founder and CEO of Binance. It’s unique ecosystem of decentralized and blockchain based networks. BNB is an integral part of the successful functioning of many of the Binance sub-projects.
As the dedicated utility token of the Binance exchange, the easiest way and simplest way to purchase BNB coins would be through Binance exchange.
6) XRP (XRP)
XRP Ledger (XRPL) is the open-source distributed ledger that is created by Ripple. The ledger employs the native cryptocurrency known as XRP.
Ripple provides a global payment solution via its patented payment network called Ripple Network or RippleNet. Ripple was made to connect banks, payment providers and digital exchanges enabling real-time settlement expeditions and lower transaction fees compared to peer-to-peer cryptocurrencies.
XRP’s transactions are processed by a network of trusted validators on the XRP Ledger when compared to Bitcoin (BTC) which uses a distributed blockchain whose transaction are processed by secured proof-of-work mining.
7) Binance USD (BUSD)
Binance USD (BUSD) is a stable coin pegged to US dollar and has received approval from the New York State Department of Financial Services (NYSDFS).
It was launched on 5th September 2019 and aims to meld the stability of the dollar with the blockchain technology. BUSD is a digital fiat currency and issued as ERC-20 and also supports BEP-2.
Stablecoin plays an important role in transactions, payments and settlement, and decentralized finance (DeFi).
8) Cardano (ADA)
Cardano (ADA) is a proof-of-stake blockchain network. It allows complex programmable transfers of value in a secure and scalable fashion.
It’s one of the first blockchains to be built in the highly secure Haskell programming language. It facilitates peer-to-peer transactions with its internal cryptocurrency, ADA.
It was founded by Ethereum’s co-founder Charles Hoskinson in 2015. It’s a greener alternative to proof-of-work protocols as it uses proof-of-stake blockchain.
9) Solana (SOL)
Solana (SOL) cryptocurrency is based on Proof of History (PoH) and Proof of Stake (PoS) high throughput blockchain. A team of network engineers built Solana and it aims to become the blockchain infrastructure for modern Internet applications.
Solana was founded by 4 co-founders. Anatoly Yakovenko leads the team and wrote and published a whitepaper on the concept of Poof of History in November 2017. PoH is a concept introduced to keep time between computers in a network in sync which forms the basis of scaling the number of transactions.
The applications in the Solana ecosystem includes decentralized finance (DeFi), non-fungible tokens (NFT), games, marketplaces, ecommerce and much more.
10) Dogecoin
Dogecoin (DOGE) was created based on the popular “Doge” Internet meme on 6th December 2013 and features a Shiba Inu on its logo.
It’s an open-source digital currency and the codebase of the project was a fork of Litecoin. The hash hashing algorithm was inherited from Litecoin’s features.
Dogecoin was created by Billy Markus and Jackson Palmer and introduced as a “Joke Currency”. It developed its own online community but the developers haven’t made any major changes to the coin since 2015.
These are the top 10 cryptocurrencies as of October 2022. You need to pick up cryptos which has a use case and has been stable for a very long time. Cryptos are extremely volatile in nature and you need to invest only the amount which you are ready to lose with no major impact.
It’s not just top 10 cryptocurrencies in the world but there are many other who didn’t make to the top 10 but comes with lots of use case and might take the position in the top 10 anytime.
I would strictly avoid meme coins or shit coins as they really do not have any use case. I would neither invest or mine these coins and I would suggest my readers to stay away from these kinds of coins.
The list of top 10 currencies would slightly fluctuate because of many factors. There are many projects which are extremely amazing. I have been a miner for quite sometime now. If you want to know my journey as a crypto miner, you can check out my link.
Apart from mining Ethereum, I have mined Raven coin and Ergo as well. I am speculating Ergo or Raven to pick up in the coming days. I was extremely bullish on Raven but it’s a heat intense algorithm and consumes more wattage than Ethereum in the past and currently Ergo.
Happy Crypto Investing!!!
You can checkout my article on “Top 10 Cryptocurrency Exchanges in the World“.