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This open-source cryptocurrency was launched in April and soon garnered great interest among the cryptography community and its enthusiasts. The development of this cryptocurrency is completely donation-based and community-driven. Because of these exceptional security mechanisms, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world.
Though this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world. We were only able to list 10 altcoins above, but there are many other important cryptocurrencies out there, and they jockey for position over time in terms of user bases, market value, and influence. Some other important cryptocurrencies include as of March 14, but are not limited to:. As decentralized platforms, blockchain-based cryptocurrencies allow individuals to engage in peer-to-peer financial transactions or enter into contracts.
In either case, there is no need for some trusted third-party intermediary such as a bank, monetary authority, court, or judge. This has the potential to disrupt the existing financial order and democratize finance. The majority of cryptocurrencies today are derived in some form or another from Bitcoin, which uses open-source code and a censorship-resistant architecture.
This means that anybody can copy and tweak the code and create their own new coin. This also means that anybody is free to join its network or transact in it. Many cryptocurrencies have gained importance or hold the promise to do so. Dogecoin, for example, was a meme-based joke coin that reached fame when Tesla CEO Elon Musk promoted the token on social media.
Despite thousands of competitors that have sprung up, Bitcoin—the original cryptocurrency—remains the dominant player in terms of usage and economic value. Investing in cryptocurrencies and other initial coin offerings ICOs is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs.
Because each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. Ethereum Foundation Blog. Bitcoin Developer. Gemini, Cryptopedia. Bitcoin: Like Silver and Gold. Department of Justice. Blockchain Technology. Your Money.
Personal Finance. Your Practice. Popular Courses. Investing Cryptocurrency. Part of. Part Of. Related Definitions. Understanding Cryptocurrencies. Exchanges and Wallets. Table of Contents Expand. Table of Contents. What Are Cryptocurrencies?
Types of Altcoins. Ethereum ETH. Litecoin LTC. Cardano ADA. Polkadot DOT. Bitcoin Cash BCH. Stellar XLM. Dogecoin DOGE. Binance Coin BNB. Tether USDT. Monero XMR. Honorable Mentions. Cryptocurrencies FAQs. Beyond that, the field of cryptocurrencies has expanded dramatically since Bitcoin was launched over a decade ago, and the next great digital token may be released tomorrow.
Bitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity. Other virtual currencies such as Ethereum are helping to create decentralized financial DeFi systems. Some altcoins have been endorsed as having newer features than Bitcoin, such as the ability to handle more transactions per second or use different consensus algorithms such as proof of stake.
Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem. TRX connects the entire Tron ecosystem with abundant application scenarios that power transactions and applications on the chain. IO is a highly performant open-source blockchain platform, built to support and operate safe, compliant, and predictable digital infrastructures.
It is an innovative blockchain that can be used for digital assets, smart contracts, decentralized applications, and secure authentication. Why Are Cryptocurrencies Important? Article Sources. Investopedia requires writers to use primary sources to support their work.
These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear.
Investopedia does not include all offers available in the marketplace. Related Articles. Bitcoin Bitcoin vs. Bitcoin Top Cryptocurrency Myths. Blockchain Technology How to Make a Cryptocurrency. Litecoin: What's the Difference?
Partner Links. Related Terms What Is Ethereum? Ethereum is a blockchain-based software platform with the native coin ether. Ethereum smart contracts support a variety of distributed apps across the crypto ecosystem. What Is the 0x Protocol? The 0x protocol is an open protocol that enables peer-to-peer asset exchanges on the Ethereum blockchain.
Learn about altcoins, how they work, and which are the most popular. What Is a Crypto Token? Crypto tokens are a representation of a particular asset or a utility on a blockchain. FTM Fantom. XLM Stellar. FIL Filecoin. GALA Gala. QTUM Qtum. SUN Sun New. AXS Axie Infinity. VET VeChain. XMR Monero. MTL Metal. MANA Decentraland. DAI Dai. DASH Dash. AAVE Aave. TT ThunderCore. GLMR Moonbeam.
UNI Uniswap. ALGO Algorand. ZEC Zcash. KAVA Kava. TRY Try. ENJ Enjin Coin. SRM Serum. COMP Compound. KSM Kusama. ICP Internet Computer. CHZ Chiliz. RSR Reserve Rights. NEO Neo. SNT Status. MBL MovieBloc. BTG Bitcoin Gold. OGN Origin Protocol. LRC Loopring. QC Qcash. CFX Conflux. TOMB Tomb. EGLD Elrond. CELO Celo. SNX Synthetix. GRT The Graph. ERN Ethernity. ACH Alchemy Pay. IMX Immutable X. MINA Mina. GLM Golem. KLAY Klaytn. HBAR Hedera. ASTR Astar. XTZ Tezos.
YFI yearn. MKR Maker.
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Ethereum (ticker: ETH) is the Crusher of the Month for September Click to read why we have a high conviction in this cryptocurrency. 0. Shares. 6. The cryptocurrency market is speculative and constantly changing. We will help you stay on top of your game through our weekly market insights. A primer on cryptocurrencies and blockchain covering everything from exchanges and ICOs to related regulatory and privacy issues.