Just like with other industry – there are some names, companies and market forces you simply need to know if you’re going to succeed.
And while the “old school” financial world has names like the US Dollar, Warren Buffet and Microsoft, the cryptocurrency world has a few names you would do well to remember, follow and learn from (for better or for worse).
Here are just a few:
BITCOIN – The original cryptocurrency was released in 2009 as an open-source code by an individual or group calling themselves “Satoshi Nakamoto” and has grown in popularity ever since, with a recent study estimating that over 85% of crypto wallets hold Bitcoin in some fashion.
Its biggest downside is its limited supply (almost 17 million out of a total of 21 million bitcoins have already been mined), as well as the enormous effort it takes to mine the coins themselves. But regardless of effort, limitations or various other faults, it remains the most popular of cryptocurrencies by a large margin, and is perhaps the only one to gain some mainstream attention to this date.
ETHEREUM – Perhaps the second most known cryptocurrency, Ethereurm is more of a platform that other coins and projects (like CEDEX for example) can base themselves on.
Since it is open-sourced, its code can be altered and improved to suit various needs. Launched in 2013 by Vitalik Buterin, Ethereum has gone on to be not only a highly successful cryptocurrency, but also a name that everyone in the crypto space simply must know.
XRP/RIPPLE – Much like Ethereum, Ripple is not only a highly successful and sought-after coin, it is also an open-sourced technology platform that focuses on financial transaction settlement. It has wide ranging support, not only from the crypto community, but also from companies and institutes developing various applications for it – from mobile minutes to frequent flier miles. Essentially, XRP can be used to allow any form of payment, which may explain why, in terms of market capitalization, it is the 3rd largest coin around.
SATOSHI NAKAMOTO – As mentioned above, it is unclear whether there is a “real” individual named Satoshi Nakamoto, or whether the moniker signifies a group of people, or if either exists at all. Regardless of that person’s true identity, as the “inventor” of Bitcoin, they have ensured their immortality within the crypto world; it has been estimated in some circles that “Nakamoto” holds roughly 1 million Bitcoins, which at present means that whoever is behind that name is worth over 6 billion USD.
THE WINKELVOSS TWINS – The majority of people know Tyler & Cameron from the movie “The Social Network,” where they were portrayed by actor Armie Hammer, who claimed they should be given ownership over Facebook, but the twins, who were well off to begin with, made a smart investment of $11 Million in Bitcoin, back in 2011, They bought up roughly 1% of all coins in circulation, a claim, which if true, would put their Bitcoin worth at nearly $250 million
BINANCE – If you trade in cryptocurrencies as opposed to investing in them at the ICO stage, or mining them (when applicable), you need a platform to do so.
This is where cryptocurrency exchanges come in, and in that area, none are bigger than Binance, founded in 2017 and, as of January 2018, capped at $1.3 Billion. Binance plans to expand its operations in Europe and may soon add currencies like the Euro and British Pound to its list of tradable assets.
With a market that is so rapidly changing and growing, there will obviously be new names that pop up on our screens on a daily basis, so the names above represent just a small fraction of those you would be wise to keep track of, however, small as they may be – they cannot and should not be ignored.