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Chapter 4
Different Types of Cryptocurrencies
IN THIS CHAPTER
By now, you probably have heard of the cryptocurrency that started it all: Bitcoin. But Bitcoin is hardly the only famous or even investment-worthy cryptocurrency out there anymore. Heck, some people even think that Bitcoin may be the worst cryptocurrency to own or to invest in. This is because so many other digital coins are available that have made massive improvements to the Bitcoin model to avoid its disadvantages.
This chapter covers some of the most famous cryptos as of 2021. But because the cryptocurrency market is ever-changing, you also find out how to navigate your way through all the up-and-coming cryptos for years to come.
Celebrating Celebrity Cryptocurrencies by Market Cap
One of the fastest ways to navigate through popular cryptocurrencies is to check out their ranking based on their market capitalization, or market cap. Traditionally, market cap is the value of a company that’s traded on the stock market. You can calculate it by multiplying the total number of shares by the present share price.