USDC is powered by Ethereum, and you can use USD Coin to complete global transactions. dollars and aims for a 1 USD to 1 USDC ratio. Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. XRP (XRP)Ĭreated by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies.Īt the beginning of 2017, the price of XRP was $0.006. By late August 2023, its price had risen to around $245, a gain of 245,227%. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin.īNB’s price in 2017 was just $0.10. Now, it can be used for trading, payment processing or even booking travel arrangements. Since its launch in 2017, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Binance Coin (BNB)īinance Coin (BNB) is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. Unlike some other forms of cryptocurrency, Tether (USDT) is a stablecoin, meaning it’s backed by fiat currencies like U.S. From April 2016 to the end of August 2023, its price went from about $11 to around $1,832, increasing 16,555%.
Ethereum (ETH)īoth a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens ( NFTs).Įthereum has also experienced tremendous growth.
1, 2023, a single Bitcoin’s price was around $28,865. In May 2016, you could buy one Bitcoin for about $500.
Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.īitcoin’s price has skyrocketed as it’s become a household name. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency.
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