What is a crypto coin?

These crypto coins have their own blockchains which use proof of work mining or proof of stake in some form. They are listed with the largest coin by market capitalization first and then in descending order.

What are the two largest cryptocurrencies by market capitalization?

Among the 18,000-plus cryptocurrencies in existence, Bitcoin and Ethereum are the two largest cryptocurrencies by market capitalization. Bitcoin, the original and largest cryptocurrency, was developed in 2009 as an alternative monetary asset. It was meant to be an alternative to the U.S. dollar and other fiat currencies.

How do cryptocurrencies work?

Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins. Users can also buy the currencies from brokers, then store and spend them using cryptographic wallets. If you own cryptocurrency, you don’t own anything tangible.

Can cryptocurrencies become a form of money?

Although some crypto investors are hopeful that cryptocurrencies might someday be adopted as a form of money, most see crypto as an alternative asset that can appreciate in value. It’s a way to invest in blockchain technology. Some people purchase cryptocurrency as a way of indirectly investing in its underlying blockchain.