Are you interested in cryptocurrency? Then you can go through this article. We have discussed here cryptocurrency, What is Cryptocurrency Market Cap and many more about crypto. We have discussed here some guides and tips for crypto. If you are willing to buy cryptocurrency then read this article and it will help you to understand digital currency.
What is Cryptocurrency ?
Cryptocurrency is a digital and decentralized currency, which is designed to be exchanged over the internet. It is like digital money with no physical activity and no one is the author of this technology like any government or any other banks. It is based on block chain technology by cryptography. All the transactions of cryptocurrency are secured by cryptography.
There are so many owners of different individual coins, that are recorded in a digital ledger which is a fully computerized database. Cryptocurrency is a digital value that we can transfer from peer to peer over the internet, there is no money in use and to transfer the value you don’t need any bank or any transfer processor like UPI, NEFT, RTGS, etc. You can transfer it globally at any time from anywhere.
You can buy it from any cryptocurrency exchange like the stock exchange. The first cryptocurrency is BITCOIN that is established in 2008. It is the most popular and far biggest cryptocurrency. Other most popular cryptos are EOS, LITECOIN, ETHEREUM, and BITCOIN CASH. The most important thing is cryptocurrency allows you to take over complete control over your assets. But one question what is the cryptocurrency market cap? Here in this article we will discuss this.
How To Buy Cryptocurrency?
If you are interested to buy cryptocurrency and you are wondering to know the steps then follow this steps. There is three basic steps to follow.
STEP 1: Choosing A Platform
The first step is to choose a platform. By these platforms you can buy and sell cryptocurrencies . There are two types of platforms, one is TRADITIONAL BROKERS and CRYPTOCURRENCY EXCHANGES.
Traditional Brokers:
These are the online brokers. You can trade buy their online mobile app or websites. These brokers give many offers to the traders and charge very much for the trade. You can easily buy or sell crypto on these platforms. They are providing some extra benefits like stocks, ETFs, etc. but with fewer crypto features.
Cryptocurrency Exchanges:
There are many cryptocurrency exchanges. Many of them charges asset based interests. Each of them offers many cryptocurrencies , wallet facilities and more.
STEP 2: Open an Account and Add Funds
Choosing the platform you need to open an account in the app or website. Enter your details in account opening form step by step like you full name , address proof, any identity proof etc. and submit it. Then as per the brokers rules you account will be available within the some hours or day. After opening account add funds in your account or wallet to start trading. You can add funds by using you debit or credit cards.
But some crypto exchanges allow the user to add funds only using govt, issued currencies like US Dollar, Pounds, Euro, etc. But it’s very risky to use your credit cards for crypto because of the high volatility of the crypto prices. Some credit card companies don’t allow crypto transactions. So it’s safe to use your debit card for use in cryptocurrency.
STEP 3: Placing Orders to Buy or Sell
Completing the steps above mentioned you can place orders to buy cryptocurrency via you broker’s mobile app or the exchange’s websites. To buy a crypto first choose the cryptocurrency and select it to buy then choose the order type and the amount that you want of the crypto you want to buy then confirm the order. You will be able to buy cryptocurrency. The same process will be applicable when you want to sell.
What is a Cryptocurrency Market Cap?
We have discussed all about cryptocurrency. But there you should also know what is market cap or what is cryptocurrency market cap? The market capitalization ( market cap ) in stocks counts the total number of shares of the company with their total dollar prices. But the cryptocurrency market cap is calculated by the total number of coins mined multiplied by a single coin’s current price.
Before investing in stocks knowing the market capitalization of the company is important to make a balanced portfolio. But in crypto that doesn’t exactly follow and the investor doesn’t need to know that, said advisors.
Coinmarketcap is currently one of the popular websites to track the best popular cryptocurrencies and their market capitalizations and gives an overview of their market caps. With the high volatility of the crypto price, the market is always changing. How does crypto market cap increase? When the price gets higher the total market cap also increased. What is cryptocurrency market cap and why it is so important?
Why is market cap important in crypto?
As the market shows the overall view of that particular cryptocurrency. So the investor can be sensible before investing in crypto. Also the market like the small-cap crypto has the much reliability other than the others. The market cap also tells the story to the investors the growth potentiality of the crypto
Crypto market cap calculator = Circulating Supply Of Coins X Current price
You will get the point that what is cryptocurrency market cap with this example. Here we will discuss and calculate the capitalization of Bitcoin.
As of now, Bitcoin is the most popular cryptocurrency. But there is also difficult to calculate the bitcoin market cap because the price of bitcoin is highly volatile. It fluctuates too frequently. In the last few weeks, bitcoin’s price has been between $35000 to $20000 USD, which turns into a magnificent market cap, and currently, the total number of bitcoin is around 19 Billion. The total market cap is calculated in the current pricing rates of bitcoin.
- $35000 x 19 Million = $665 Billion
- $30000 x 19 Million = $570 Billion
- $25000 x 19 Million = $475 Billion
- $20000 x 19 Million = $380 Billion
This the statics how to count the market cap of crypto. People also find the answer of what is cryptocurrency market cap?
What is a good market cap for cryptocurrency?
Cryptocurrency market capitalization depends upon the on-time price and the total number of coins mined. Every the number of coins are increasing and the prices are volatilizing. Mis-cap cryptocurrencies have between 1 billion to 10 billion market cap. It has the potential to go upside but it is highly risky.
The small-cap cryptocurrency has less than 1 billion market. But it is nit risky as mid-cap because its price swings with the market sentiments.
Top 10 Cryptocurrency in 2022
1. Bitcoin (BTC)
- Current Price : $ 19,095
- Market Cap : $ 364 Billion
2. Ethereum (ETH)
- Current Price : $ 1032
- Market Cap : $ 125 Billion
3. Tether (USDT)
- Current Price : $ 1
- Market Cap : $ 66 Billion
4. USD COIN (USDC)
- Current Price : $ 1
- Market Cap : $ 56 Billion
5. Binance USD (BNB)
- Current Price : $ 214.21
- Market Cap : $ 35 Billion
6. Binance Coin (BUSD)
- Current Price : $ 1
- Market Cap : $ 18 Billion
7. XRP (XRP)
- Current Price : $ 0.318
- Market Cap : $ 15 Billion
8. Cardano (ADA)
- Current Price : $ 0.4476
- Market Cap : $ 15 Billion
9. Dogecoin (DOGE)
- Current Price : $ 0.06523
- Market Cap : $ 9 Billion
10. DAI (DAI)
- Current Price : $ 1
- Market Cap : $ 7 Billion
Key Tips
Investing in crypto is highly risky. But if you invest smartly and calculatedly you can make profit of it. The biggest challenge for the investors is that many times they got trapped din the hype of crypto market. The key factor is timing. Because the crypto currency are so volatile and the market swings so quickly. So timing is the key factor. Another tip is, do a proper research about that currency on which you will invest. If you find any thing wrong its good to step back and wait.
The most important tips is invest only that much of money that you can afford to loss. Lastly be aware of fake coins. In market there are so many coins exists. So don’t ant one’s words and just do your own research by your sources.