This currency, which has experienced a significant increase in the Turkish market in recent days, is a payment method for goods and services that can be bought and sold online. Many companies have issued their own currencies that can only be used in the trade of goods or services provided by the company. It is a completely digital currency without having any paper. To access products or services, you must convert the real currency, the Turkish lira, into cryptocurrency. We will give detailed information about these coins, which are just being popular in our country but have experienced a big jump in a short time.
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Although each system has its own characteristics, in general, coins work using a technology called blockchain. Blockchain is a decentralized technology distributed across many computers that manage and record transactions. If you ask why this technology has attracted so much attention by people, we can say that it is safe as an answer. According to data from CoinMarketCap.com, a general market research site from which we received the data, more than 6,700 different coins are publicly traded. Cryptocurrencies continue to proliferate, raising funds through initial coin offerings or ICOs. According to data from CoinMarketCap, as of February 18, 2021, the total value of all coins exceeds USD 1.6 trillion. Although there are a few popular currencies that we know of, the fact that there are so many indicates that there will only be digital currencies in the future. Cryptocurrencies with the Highest Market Cap
With the latest update, the February 2021 update, we have shared the values determined in the market with you. There may be cryptocurrencies that you hear about for the first time in the future, but let’s say that they have a high volume.
- Bitcoin – $969.6 billion
- Ethereum – $222.3 billion
- Tether – $33.1 billion
- Binance Coin – $30.5 billion
- Cardano – $28.3 billion
- Polkadot – $28.1 billion
- XRP – $24.4 billion
- Litecoin – $15 billion
- Chainlink – $13.3 billion
- Bitcoin Cash – $13.1 billion
How Cryptocurrencies Became Popular
In fact, if we give you information about the popularity of crypto coins, which is a subject that everyone is curious about, although it is a system that has existed for many years abroad, its popularity has suddenly increased upon the recognition of new values in our country and seeing them as possible to invest in the future. They see cryptocurrencies like Bitcoin as the currencies of the future and can compete to buy them just before they become more valuable. Purchases began to take place as people gradually demolished their attitude towards money they had not seen before. Crypto Money World
This is also referred to as blockchain, the technology behind the coins. It has a very different system from today’s banking. It has a decentralized processing and recording system. It can be more secure than the traditional payment systems we use now. Some out-of-business companies do not accept cryptocurrencies and currencies as a long-term means of transferring money because of their increased value. Are Cryptocurrencies Legal?
Although there is currently no regulation within the scope of the Constitution, according to the latest statements, the rules and regulations have been announced. In our country, cryptocurrency has no legal basis, and the transactions made in this case are not guaranteed by any official institution. Coins have negative characteristics such as extreme market capitalization fluctuations, and digital wallets can be stolen, lost, or used illegally without the owner’s knowledge. Best Cryptocurrencies to Invest in
Even with all the research done by economists, it can be very difficult to start trading coins. With the changes in blockchain technology, there are thousands of cryptocurrencies. Usually, they value a cryptocurrency by its market capitalization. Imagine a currency that is experiencing ever-changing exchange rates and fluctuations. If you invest high amounts, you can win or lose thousands of dollars in seconds. Accordingly, you should do research and make sure.
Be sure to check out => What is Bitcoin
In turn, some people ignore the market value, price and other indicators. One of the biggest mistakes people make is that they only buy the most fashionable coins recommended by their friends and invest all of their money. It’s important that it’s popular, but you shouldn’t waste the money you make with hearsay information alone without doing research. However, although the best cryptocurrencies have changed recently, with the latest update, the situation is as follows.
1. Bitcoin (BTC – The first and most popular cryptocurrency
2. Litecoin (LTC) – From silver to bitcoin gold
3. Ethereum (ETH) – Blockchain beyond cryptocurrency