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Bitcoin Has A Market Cap Of Whopping USD 1 Trillion.

Five years ago, you could buy Bitcoin for about USD 500. Now, it has been hovering around USD 60,000. While gold has been the preferred choi...

Five years ago, you could buy Bitcoin for about USD 500. Now, it has been hovering around USD 60,000. While gold has been the preferred choice for common people, there are other options that can be looked into by investors. Cryptocurrency is one such option. Bitcoin is the most coveted among all cryptocurrencies in the world but there are some cryptocurrencies that have the potential to join the big league in the near future, according to IANS report. 

1. Bitcoin (BTC)

Bitcoin has a market cap of whopping USD 1 trillion. Five years ago, you could buy Bitcoin for about USD 500.Now, it has been hovering around USD 60,000 (around Rs 45 lakh), as per IANS report. Bitcoin which is a decentralized digital currency was created by someone called Satoshi Nakamoto (possibly a pseudonym) in 2009. 

As with most cryptocurrencies, Bitcoin is without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries, IANS reported. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a Blockchain.

2. Ethereum (ETH)

Ethereum has a market cap of more than USD 472 billion. Among cryptocurrencies, Ethereum is second only to Bitcoin in market capitalization.

Available for around USD 4,000 (Rs 3 lakh) per coin, Ethereum is a favourite among crypto developers because of its applications like smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). It is both a cryptocurrency and a Blockchain platform, according to IANS report.

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