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How Many Cryptocurrencies Are There?

Cryptocurrency is an emerging field with various digital assets. As more projects take advantage of blockchain technology to develop projects using crypto, its use continues to rise. Unfortunately, due diligence on each coin can be challenging but several tools exist that can assist investors in finding coins suitable for their investment goals.

Bitcoin was the original cryptocurrency created in 2009 by Satoshi Nakamoto and still dominates the crypto market today with 21 million circulating bitcoins circulating within circulation. While its price fluctuates often, its track record proves it delivers returns.

As soon as Bitcoin launched, there was little competition in its space. Over time however, new platforms and currencies based on the open-source code behind Bitcoin appeared – giving rise to an entirely new type of financial service which is both decentralized and global in nature.

There are currently more than 10,000 cryptocurrencies in existence; however, not all are active or valuable. According to 99 Bitcoins – a website dedicated to tracking dead cryptos – over 1,700 coins no longer in use due to low trading volume, poor online presence or no listing on major exchanges have become obsolete over time.

Ethereum (ETH -3.17%), the second-most popular cryptocurrency after Bitcoin, is one of the two leading virtual currencies by market capitalization and uses Ethereum’s blockchain for transactions – just like Bitcoin does! One difference lies in that Ethereum also features smart contracts – programs which execute automatically and transparently on its blockchain network.

Ripple (XRP -3.38%), Stellar (XLM -2.91%) and Bitcoin Cash (BCH -4.05%). Each is built on Ethereum’s blockchain, offering users unique features while remaining similar by providing low transaction fees when sending and receiving money.

Stablecoins are also an integral component of crypto’s landscape, with Tether being one of the more notable stablecoins that’s pegged to another asset, typically the U.S. dollar. Other stablecoins may be backed by fiat currencies like euro or British pound as their basis.

There are even a few cryptocurrencies created as jokes or inspired by memes; these “memo coins” often have substantial market caps while others serve no real purpose at all. Dogecoin currently boasts a market capitalization of more than $1.5 billion and therefore may not be suitable for most investors; rather, they should focus on researching promising cryptos with strong growth potential. At its heart lies the hope of discovering a profitable investment opportunity, so to maximize this possibility it is crucial that one researches each crypto before investing any funds – this can be accomplished by visiting websites like Coin Market Cap which lists top cryptos by market capitalization; other sources such as data aggregators and social media can also provide helpful information that may reveal promising investment options.