Cryptocurrency mining

To get access to cryptocurrencies, it is enough to register in the system. To do this, you need to create your own electronic wallet and go through verification in your personal account, thereby confirming your identity. After registration is completed, the wallet will become available for performing certain operations with it.

Mining is the main way to get cryptocurrency.

Ways to get cryptocurrency:

Mining is independent production. Miners connect hardware to the system, such as video cards, hard drives, or ASICs (application-specific integrated circuits) and are rewarded for storing transaction information on the blockchain system.

Forging - funding miners. For a low monthly fee, access to powerful remote servers suitable for mining is provided.

Buying cryptocurrencies on the exchange.

Cryptocurrency mining is improving and improving every year. More and more new ways to get cryptocurrencies are being developed, so the activity in their production is growing every year, and with it their popularity and value.

Types of cryptocurrencies
Bitcoin was the first cryptocurrency to go mainstream, but others are also growing in popularity over time. There are over 2,000 different types of cryptocurrencies, and more and more are popping up every day. Some of them are clones or forks of bitcoin (“fork” is a branching of the chains of blocks in the blockchain, as a result of which a new currency based on the old one is possible), while others are new currencies created from scratch.

Thanks to blockchain technology, you can create an infinite number of types of digital currency. But in order for the newly created cryptocurrency to be of any interest to miners, it must have a developed network. Otherwise, the number of its coins will be minimal, it will not be in demand on the market, and its value will tend to zero.

It is no longer possible to name the exact number of currently existing cryptocurrencies - they disappear and appear, but at the same time, Bitcoin occupies 50% of the cryptocurrency market, and the top 10 cryptocurrencies make up 85% of the market.

Some countries, including Russia, are considering issuing their own state cryptocurrency.

Most popular currencies:

Bitcoin. The first version of the cryptocurrency appeared in 2009.

Ethereum (ether). Creation began in 2015. The technology is used in registration of transactions, transfer of resources/copyrights.

Cardano. Like ether, it began its history in 2015, and its creators pursued the goal of constructing a reliable ecosystem.

Tether. Unlike other cryptocurrencies, it is a stablecoin (cryptocurrency that has a fixed value) and has a constant rate of 1 Tether = $1.

The list is easy to continue - Binance Coin, XRP, Solana, Polkadot, etc. But despite the huge number of types of cryptocurrencies, only a small number of their variants are recognized. The vast majority of digital currencies is a "soap bubble" or electronic financial pyramids that can disappear at any time. Although it is worth noting that any cryptocurrency can disappear, even the beloved and well-known bitcoin. This is possible due to the lack of a legislative framework in the regulation of this area.

Any kind of cryptocurrency uses an open generation algorithm, so they can connect to a common network at will. The transfer of data in an electronic wallet is an absolutely safe process, all information is strictly confidential. This is one of the reasons that cryptocurrencies are still not recognized by many states, because the authorities need complete control over the movement of funds in the country, and the cryptocurrency was originally created as a decentralized asset.

Some of the competing cryptocurrencies spawned by the success of Bitcoin, known as “altcoins” (any cryptocurrency other than Bitcoin), include Litecoin, Peercoin, and Namecoin, as well as Ethereum, Cardano, and EOS.

Over 10,000 different cryptocurrencies are traded publicly. The cryptocurrency market continues to grow, raising money through initial coin offerings or ICOs. The total value of all cryptocurrencies at the moment is about 2 trillion dollars. The total value of all bitcoins, the most popular digital currency, is estimated at the time of writing to be approximately $866 billion. However, the market value of all bitcoins has significantly decreased from the all-time high of $1.2 trillion, which was recorded in April 2021.

Below is the top 10 trading cryptocurrencies by market capitalization according to Binance, one of the largest cryptocurrency exchanges.