Biting the Crypto-Currencies

As we all know that crypto-currencies are getting popular day by day. Presenting here a brief introduction of crypto-currencies and their prices in real world.

Digital-Currency

Crypto-currency are nothing but digital assets which are designed as an exchange medium using cryptography for security of all the transactions, for verifying the transfer of assets and to control creation of additional units.

Bitcoin, was the first decentralized crypto currency which was created in 2009. From that time a number of crypto currencies have been developed, these are also known as Altcoins.

About Prices and Rankings

With the highest value Bitcoin ranks among the first in ranking of crypto currencies, it has a value of $6806 per bitcoin. Ethereum stand on the second place with value of $307.5. The third is Bitcon Cash, with the value of $793.

What affects Cryptocurrency price

Price or value of crypto currency depends upon its wider adoption and usage. With a continuous supply and growing demands the factor, which will get budged in this equation, is the value of crypto currency and by going up. As an example we can take bitcoins as at the period of writing, there were just 13 million bitcoins but now due to increased use and demands it is expected that within 95 years 8 million bitcoins will be mined. Hence assuming high demands, the bitcoin rate or net worth increased gradually and is still increasing day by day.

Future Price

The price of the crypto currencies depends upon or will determined by the users itself. If they want that the value should move up, it will, however the development will continue unrelatedly. It also depends upon the stock markets, and transactions in which a normal currency is used to buy crypto currency. In the near future most probably the value of crypto currency is going to increase further as the demand is very high.

Above written is an overview regarding information of some of the top crypto currencies and their historical prices by cryptocurrency market cap. As of November 2017, there are more than a thousand crypto currencies existing, maximum of them are fully derived form of the firstly implemented decentralized crypto currency, bitcoin. Most of the crypto currencies are designed to reduce the usage and production of currency, thus placing an eventual cap on the sum of coinage that will be ever be in exchange.