When people think of cryptocurrency, the majority wouldn’t know more than one or two different types with Bitcoin, Ethereum and Ripple the most notable.
But there are countless different cryptocurrencies from all around the world and on Stake, there are eight you can use.
Some are worth a lot such as Bitcoin, but then there are those that aren’t as well known that have a much different value.
Let’s take a brief look at the different cryptocurrencies offered on Stake.
Even those with no knowledge of cryptocurrencies and their respective values would know about Bitcoin. The world’s most recognisable crypto has had its fair share of ups and downs over the years, but it has stagnated and is much easier to track.
Most players on Stake use Bitcoin as their primary currency and it appears at the top of the drop down menu on the site. Bitcoin is usually associated with a predominantly orange and sometimes slightly yellow colour.
Currently, the value of one Bitcoin in United States Dollars is just under $11,000 but this number can fluctuate depending on the market.
Substantial drops or increases aren’t as common but if you’re considering Bitcoin, it’s something you need to look into.
Easily the second most recognisable crypto on Stake is Ethereum. Ethereum (often shortened to Ether or just ETH) is universally considered a good investment by experts around the globe due to its potential to be worth much more in the future.
Ethereum is also considered a very safe and secure investment as well, meaning that if you’d like to use Ethereum, you can do so with confidence. Ether appears second from the top on Stake’s crypto drop down menu.
Ethereum is commonly associated with a dark blue colour and at the time of writing, 1 Ether is worth just under $350 United States Dollars (USD). But once again, Ethereum is projected to only grow in value in the future. Some experts believe that it could be worth as much as $4,000 for 1 Ether by the end of next year.
Onto our first Altcoin, Litecoin is a very interesting crypto.
It was first created around the same time Bitcoin was starting to make waves around the world. But its value is at the opposite end of the spectrum.
Litecoin transactions are very quick when compared to Bitcoin. A usual BTC block transfer takes approximately 10 minutes whereas LTC is only 2 and a half minutes. On Stake, LTC appears third from the top on the dropdown menu. It’s most commonly associated with the colour silver of a light grey.
That’s a huge difference and selling point, especially for people who make regular transfers. But as previously mentioned, its value is much smaller than its proverbial ‘big brother’.
At the time of writing, 1 LTC is only valued at a shade under $50 USD each. This isn’t necessarily a bad thing, but certainly something you need to be wary of if you’re a complete crypto newbie.
From three of Stake’s most valuable cryptos to its least valuable. That’s not to say it’s no good. Dogecoin is a very hotly debated coin.
Appearing fourth on Stake’s dropdown menu, you will often notice anyone on the site with Dogecoin will have plenty of them. That’s because there are plenty to go around! The coin itself appears fourth from the top on the dropdown menu.
Usually associated with the colour yellow, Dogecoin can be fun to use and generally safe to purchase, but there is a reason for its lack of value.
At the time of writing, 500 Dogecoins are only worth approximately $1.30 USD. Considering the price of the last three cryptos, that’s a major drop. But again, don’t think that means it’s a bad investment. Just make sure you know the facts
Bitcoin Cash (BCH)
Another spin off of Bitcoin, Bitcoin Cash is a slightly less valuable coin but one that has plenty of potential to grow.
Often appearing in a light green colour and appearing fourth from the bottom on Stake’s dropdown menu, Bitcoin Cash is fairly similar to Ethereum in value.
Fluctuations in price are slightly more regular than other coins but you can rest assured knowing its a safe investment.
Many industry experts predict that, like Ether, it will only grow in the future into a much more valuable coin. If you’re looking for a niche coin that could net you profit down the line, look no further.
At the time of writing, 1 BCH is currently worth $225 USD.
Now onto the third most well-known cryptocurrency, Ripple.
Often appearing in a light blue or white with a black backing, Ripple is third from bottom on Stake’s drop down menu. But don’t let its popularity lead you into thinking it’s worth as much as Bitcoin or Ethereum.
In fact, 1 Ripple (or XRP) is worth less than a dollar in USD.
Transactions with Ripple are much faster than most coins (similar to Litecoin) and they are generally a very solid investment.
But like all cryptocurrencies, its value is a situation that would need monitoring. Experts believe that the price of Ripple could rise to as much as $10 each, but proceed with caution nonetheless.
At the time of writing, 500 XRP is worth around $125 USD. A good way to figure out how much an amount of Ripple is worth in USD is to value 100% of the Ripple as 25% in USD (e.g. 1 XRP = 25c USD).
Another cryptocurrency that is worth less than 1 USD each, Tron is a fairly unknown coin that can still offer great investment for buyers.
Often appearing in red and second from last on Stake’s dropdown menu, Tron is worth slightly more than Dogecoin.
Many experts predict it will grow in the future and like Bitcoin Cash, it could pose a great niche investment opportunity.
You will seldom see people use it, not for any other reason other than they prefer to use other coins that are more well known.
Currently, 500 Tron is worth just over $12 USD.
The latest cryptocurrency to be added to Stake’s side, EOS is a very interesting coin. Worth more than the cryptos that appear towards to bottom of Stake’s dropdown menu, EOS certainly has its pros.
Mainly appearing in black with a white backing and listed last on that dropdown menu, its value isn’t too dissimilar to the standard USD.
We have written two articles on EOS and how you can use it to turn profit so to avoid repeating many of the same tropes, we recommend reading them via the links below.
Why you should switch >> https://news.stake.com/why-you-should-switch-to-eos-on-stake/
General information >> https://news.stake.com/eos-on-stake/
Its current value is $2.63 to each 1 EOS.
So there they are, all eight cryptocurrencies offered on Stake.
Is there one coin above all else that you should use? There’s no real right or wrong answer, it just depends on personal preference and the stability of each coin.
Is a coin projected to grow in value? If so, consider investing. But also be aware of the risks and do your research.
But you can bet with confidence and play smarter on Stake!
*All conversions shown are from Google or via coingecko.com