Cryptocurrency is a very complicated business with a very high risk. Don’t put money into something unless you’re ready to lose all of it. If something goes wrong, you are not going to be covered.
Forbes Advisor gave you this information to help you learn, not to help you decide if you should invest in cryptocurrency or not.
If you want to invest in cryptocurrency or anything else, you should always get good financial help and never spend more than you can afford to lose. The list mentioned below is taken from the Forbes.
The Leading 10 Cryptocurrencies For September 2023!
1. Bitcoin (BTC)
Bitcoin, often referred to as BTC, was the very first cryptocurrency created back in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. Unlike traditional currencies, Bitcoin operates on a decentralized network of thousands of computers, all working together to secure transactions. This security is maintained through a process called proof of work. Over time, Bitcoin’s popularity has surged, and as of September 6, 2023, its price stands at approximately £20,488.
2. Ethereum (ETH)
Ethereum is not only a cryptocurrency but also a versatile blockchain platform. It is highly favored by developers due to its ability to execute smart contracts automatically when specific conditions are met, and it’s also known for enabling non-fungible tokens (NFTs). Since April 2016, Ethereum has seen substantial growth, with its price rising from around £8 to roughly £1,298 as of September 6, 2023.
3. Tether (USDT)
Tether, or USDT, stands out among cryptocurrencies as a stablecoin. Unlike many other digital currencies, Tether is backed by real-world fiat currencies like the U.S. dollar and the Euro. The intention behind stablecoins like Tether is to maintain a value close to that of traditional currencies, which makes them more stable and less prone to extreme price fluctuations.
4. Binance Coin (BNB)
Binance Coin, or BNB, serves multiple purposes within the Binance cryptocurrency exchange ecosystem. Initially introduced in 2017 to facilitate trading and pay fees on the Binance platform, it has since expanded its utility. Today, you can use Binance Coin for trading, payment processing, booking travel arrangements, and even exchange it for other cryptocurrencies like Ethereum or Bitcoin. Over the years, its price has risen significantly, from being valued under 10p in 2017 to around £171 in September 2023.
5. XRP (XRP)
XRP, closely associated with Ripple, a digital technology and payment processing company, serves as a bridge currency within the Ripple network. It facilitates the exchange of various currencies, including fiat currencies and other major cryptocurrencies. Beginning at a mere £0.004 in early 2017, the price of XRP has reached approximately £0.39 as of September 6, 2023.
6. US Dollar Coin (USDC)
US Dollar Coin, abbreviated as USDC, shares similarities with Tether as a stablecoin backed by real U.S. dollars. It operates on the Ethereum platform and is designed to facilitate global transactions while maintaining a 1 USD to 1 USDC value ratio.
7. Cardano (ADA)
Cardano, or ADA, entered the cryptocurrency scene with a unique focus on proof-of-stake validation, which enhances transaction speed and reduces energy consumption compared to traditional proof-of-work systems like Bitcoin. Similar to Ethereum, Cardano enables smart contracts and decentralized applications (DApps). ADA’s price, which was around £0.015 in 2017, rose to approximately £0.20 by August 3, 2023.
Read More: New Study Unveils 88,200 Millionaires Grew Their Fortunes with Cryptocurrency!
8. Dogecoin (DOGE)
Initially started as a humorous internet meme in 2013, Dogecoin has since become a well-known cryptocurrency with a dedicated community. Notably, Dogecoin has no supply limit, making it susceptible to devaluation over time. Despite its humble beginnings, the price of Dogecoin has grown from £0.00016 in 2017 to around £0.05 by September 2023.
9. Solana (SOL)
Solana, introduced in 2020, was designed to power decentralized finance (DeFi) applications, decentralized apps (DApps), and smart contracts. It employs a unique hybrid mechanism combining proof-of-stake and proof-of-history to ensure rapid and secure transaction processing.
SOL, Solana’s native token, fuels the platform. Its price started at £0.57 at launch and rose to approximately £15.54 by September 2023, marking a substantial gain.
10. TRON (TRX)
TRON, founded in 2017, operates as a blockchain platform for smart contracts and decentralized finance (DeFi) applications. TRX, the native cryptocurrency, powers its proof-of-stake consensus algorithm. Initially valued at 0.015p per token, TRX is currently valued at around £0.06.
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