The website coinmarketcap.com lists 2,355 available cryptocurrencies. It has listed them based on the market capitalization. Now and then, new cryptocurrencies are introduced in the market. In order to market the new coins, the crypto owners use the airdrop concept to create awareness of the new currency. An airdrop entails sending either a coin or token (percentage of a coin) to active members of exchanges or blockchain networks. As a result, these coins or tokens are sent to crypto wallets.
A crypto wallet refers to software, that is available on mobile or desktop which securely stores both private and public keys. Meanwhile, a public key identifies a trader’s account in the blockchain network and can be searched in the digital ledger. A private key, on the other hand, proves ownership of the public key and helps finalize transactions. In other words, it should never be shared. In a transaction, once an individual has sent a currency or token, he sends it to a particular public key.
Subsequently, to receive the coins, the private and public keys for the receiver must match. Consequently, this entire process occurs digitally. Additionally, a wallet accesses different blockchain networks, thereby enabling traders to either buy or sell cryptocurrencies and also monitor the balance of their various currencies. To sum up, we listed the top 10 cryptocurrencies based on the market cap in table 2 below.
Top 10 Cryptocurrencies Based On Market Cap