Cryptocurrencies can be mined, obtained through a successful investment, or purchased at a crypto exchange. There are quite a few popular ones and an even greater number of coins that may (or may not) grow in price and make you a genius investor and an overnight millionaire
Bitcoin casinos in Canada usually prefer to stick to a few big cryptocurrencies. Let's have a look at several crypto coins worth knowing about.
Bitcoin (BTC)
Bitcoin is the most popular cryptocurrency with the highest market capitalization of around 344 billion US dollars. The way this cryptocurrency was designed, it has a maximum cap of 21 million BTC that can be mined, at which point no more will be available.
The impressive growth of Bitcoin, even despite several crises, encourages to invest in it quite steadily. Its high market price compared to other crypto coins can also be seen as a disadvantage, since investing in BTC to the end of making a significant profit requires significant funds.
Ethereum (ETH)
Developed by Vitalik Buterin and Gavin Wood, Ethereum was first released in 2015. It is currently second after Bitcoin by market capitalization, at around $163 billion.
Being the native currency of the same-name platform, Ethereum represents the blockchain technology in its second generation, originally aiming to outperform Bitcoin by being a broader-scope programmable platform. It's based on an online platform that creates software for decentralized applications based on smart contracts. Unlike Bitcoin, Ethereum has no maximum emission restrictions.
Dogecoin (DOGE)
Dogecoin is an open-source crypto coin originally based on the "doge" meme and riding on the 2013 wave of the crazy popularity of cryptocurrencies. Despite the fact the value of Dogecoin has decreased significantly over the past few months, it remains among the top 20 cryptocurrencies by market capitalization.
DOGE runs on its proprietary blockchain but is generally not regarded as the best store of value on account of being prone to inflation, which has a lot to do with there being no cap on the number of coins that can be mined.
Litecoin (LTC)
Litecoin is one of the earliest developed altcoins that's quite similar to Bitcoin in its mainchain. Much like BTC, this cryptocurrency has a limited supply - 84 million LTC. Litecoin offers an increased speed of transactions, which gives it an advantage over Bitcoin and some other big cryptocurrencies.
Tether (USDT)
Tether is one of the most popular stablecoins with a value pegged to the US Dollar, which eliminates the volatility factor and is designed to ensure this asset's consistent value.
Tether's market capitalization exceeds that of any other stablecoin out there, playing a vital role in the crypto market ecosystem.
USD Coin (USDC)
USDC is a stablecoin based on Ethereum, whose value is pegged to that of the US dollar. This means two things - this cryptocurrency won't be prone to price fluctuations, and you can store it using any crypto wallet suitable for ether.
USD Coin is associated with the Coinbase crypto exchange and presents a valid way to keep your savings or transfer funds to friends or family.
Bitcoin Cash (BCH)
Bitcoin Cash is a fork of Bitcoin sharing some of its characteristics yet different enough to have its fans. It's essentially a p2p e-cash system steering closer to the original white paper created for Bitcoin.
Just like most other cryptocurrencies used at crypto casinos in Canada, it's open to anyone, secure, pseudonymous, and immutable.