While cryptocurrency investors await further developments on the regulatory front, most major top cryptos have enjoyed positive momentum recently. Crypto currency exchanges are almost always designed to be free from government manipulation and control although, as they have grown more popular, this foundational aspect of the industry has come under fire.
Even though thousands of other crypto currency exchanges are now available, the crypto world is still dominated by bitcoin and ethereum.
Here are the Top 10 Crypto currency exchanges:
Bitcoin
_image source : news.sky.com
As the harbinger of the crypto currency era, Bitcoin is one of the top 10 crypto currency exchanges. Still the coin people generally reference when they talk about digital currency. Its mysterious creator allegedly Satoshi Nakamoto debuted the currency in 2009 and it’s been on a roller-coaster ride since then. However, it wasn’t until 2017 that the crypto currency broke into popular consciousness.
While bitcoin’s decentralization and transparency make it appealing to investors and users, critics have raised concerns about its energy-intensive proof-of-work consensus mechanism and pointed out difficulties in scaling the network.
In addition, there are now several large-scale crypto projects that have higher transaction speeds than bitcoin and others that have blockchains with special designs to improve bitcoin’s functionality. It is mostly seen as an investment and has been described by many scholars as an economic bubble.
When sending bit coins, a user specifies the recipients’ addresses and the amount for each output. This allows sending bit coins to several recipients in a single transaction.
However, the use of bit coin can be criminalized, and shutting down exchanges and the peer-to-peer economy in a given country would constitute a de facto ban. Overall it is one of the top crypto currency exchanges.
BNB
_image source : coinhero.hk
BNB crypto currency is one of the top 10 crypto currency exchanges. It is issued by Binance, one of the world’s largest crypto currency exchanges. Zhao asked He to join Binance, and she helped rewrite parts of the white paper for Binance’s $15 million initial coin offering.
BNB was originally created as a utility token built on the ethereum network that users could use to access discounted trading fees on the Binance exchange.
But the token has since transitioned to Binance’s own block chain. While originally created as a token to pay for discounted trades, Binance Coin can now be used for payments as well as purchasing various goods and services.
According to Binance it is backed 1:1 by a reserve of US Dollars and was founded by them in partnership with Paxos who is the issuer of the token. Paxos holds the reserves only partially in cash deposited in their US bank accounts with the other part held in U.S. Treasuries. Overall it is one of the top crypto currency exchanges.
XRP
_image source : coinmarketcap.com
XRP, is one of the top 10 crypto currency exchanges. It is created by Ripple, is a global payments network designed to be an alternative to the Society for Worldwide Interbank Financial Telecommunications.
Released in 2012, Ripple is built upon a distributed open source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.
Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks”. The ledger employs the native cryptocurrency known as XRP. But Ripple claims its technology is faster, cheaper and more transparent than the SWIFT system. XRP is the native cryptocurrency designed for the Ripple network and XRP Ledger blockchain.
XRP got a huge boost in July when a judge in the Southern District of New York ruled that the crypto is “not necessarily a security” in certain circumstances, potentially putting it outside the SEC’s jurisdiction. Ripple relies on a common shared ledger, which is a distributed database storing information about all Ripple accounts.
Chris Larsen told the Stanford Graduate School of Business that the network was managed by a network of independent servers which compare their transaction records, and that servers could in theory belong to anyone, including banks or market makers. Overall it is one of the top crypto currency exchanges.
Cardano
_image source : forbes.com
Cardano is one of the top 10 crypto currency exchanges. It is a decentralized proof-of-stake blockchain launched in September 2017 to be a more efficient system than bitcoin, ethereum or other proof-of-work blockchains available at the time. Cardano immediately had credibility among crypto enthusiasts because ethereum co-founder Charles Hoskinson founded it.
Like ethereum, Cardano is focused on functionality and aims to be the platform of choice for dApp development and verifiable smart contracts. ADA is the primary cryptocurrency used on the network to facilitate transactions and run dApps.
Cardano users can also use ADA for staking to help verify the network’s transactions and earn additional tokens. Advertising agency MBLM ranked Cardano 26th for brand intimacy out of 600 brands in August 2022, in between Ford and Nestlé and the highest rank for a cryptocurrency.
Citing an MBLM partner, advertising industry magazine Ad Age said Cardano’s high ranking “can likely be chalked up to the gambling element of crypto”. Moreover it is one of the top crypto currency exchanges.
Solana
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Solana is one of the top 10 crypto currency exchanges. It was launched in March 2020. Like ethereum, its network supports dApps, smart contracts and non-fungible tokens. But solana’s unique, hybrid proof-of-stake and proof-of-history verification system makes it faster and cheaper than ethereum.
Unfortunately, the solana network has been plagued by outages since its launch, undermining its credibility within the crypto world. The solana network was down for nearly 20 hours in February 2023.
Fortunately for investors, solana’s price got a big boost from the XRP court ruling, and its triple-digit gain in 2023 makes it the best-performing crypto on this list. Overall it is one of the top crypto currency exchanges.
Dogecoin
Originally created as a joke after the run-up in Bitcoin, Dogecoin is one of the top 10 crypto currency exchanges. It takes its name from an internet meme featuring a Shiba Inu dog. Unlike many digital cryptocurrency exchanges limiting the number of coins in existence, Dogecoin has unlimited issuance.
It can be used for payments or sending money. Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocryptocurrency exchanges boasting grand plans to take over the world.
With the help of Reddit, the site became an instant hit. Dogecoin investor and Tesla CEO Elon Musk have repeatedly triggered volatility in dogecoin’s share price by mentioning or referencing the crypto. Dogecoin started with a supply limit of Ð100 billion, which would have been far more coins than the top digital cryptocurrency exchanges were then allowing.
By mid-2015, the 100 billionth Dogecoin had been mined, with an additional Ð5 billion put into circulation every year thereafter. Although there is no theoretical supply limit, at this rate, the number of Dogecoins put into circulation will only double in 20 years. No wonder it is one of the top crypto currency exchanges.
Polkadot
_image source :in.mashable.com
The Polkadot blockchain is one of the top 10 crypto currency exchanges. It was launched in 2020 by ethereum co-founder Gavin Wood. This allows for cross-chain transfers of data or assets, between different blockchains, and for decentralized applications (DApps) to be built using the Polkadot Network.
The protocol was created to connect different blockchains that were previously unconnected, allowing value and data to be transferred back and forth easily from blockchains such as ethereum and bitcoin.
The Polkadot network features unique parachains, user-created blockchains that can be customized while still benefiting from the same security measures as the main Polkadot chain. Parachains also take much of the processing demand off the main Polkadot chain.
Polkadot’s nominated proof-of-stake consensus model involves nominators financially backing validators as a show of trust in the validators’ integrity. Overall it is one of the top crypto currency exchanges.
Ethereum
_image source : wikipedia
Ethereum’s blockchain is one of the top 10 crypto currency exchanges. It was the first to introduce smart contracts, code that runs decentralized applications, or dApps. In 2023, ethereum completed its transition from a proof-of-work consensus mechanism to a much less energy-intensive proof-of-stake transaction verification system.
Ethereum is now a greener investment than bitcoin, but its blockchain functionality is its key differentiator. Ethereum allows anyone to deploy permanent and immutable decentralized applications onto it, with which users can interact.
Additionally, many other cryptocryptocurrency exchanges utilize the ERC-20 token standard on top of the Ethereum blockchain and have utilized the platform for initial coin offerings.
At the end of each epoch, new ETH is generated by the addition of protocol-specified amounts to the balances of all validators for that epoch, with the block proposers receiving the largest portion. In comparison, the Visa payment platform processes 45,000 payments per second. This has led some to question the scalability of Ethereum. Moreover it is one of the top crypto currency exchanges. .
Tether
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Tether’s is one of the top 10 crypto currency exchanges. It is anchored at $1 per coin. That’s because it is what’s called a stablecoin. Stablecoins are tied to the value of a specific asset, in Tether’s case, the U.S. Dollar. Tether often acts as a medium when traders move from one crypto currency to another.
Rather than move back to dollars, they use Tether. However, some people are concerned that Tether isn’t safely backed by dollars held in reserve but instead uses a short-term form of unsecured debt. It is the largest crypto currency in terms of trading volume, commanding 64% of the market share among stablecoins and having surpassed Bitcoin in 2019 to become the most traded crypto currency in the world.
In 2023, Tether had $84 billion in circulation. The company also announced it was entering private beta, which supported a “Tether+ token” for three crypto currency exchanges : USTether (US+) for United States dollars, EuroTether (EU+) for euros and YenTether (JP+) for Japanese yen.
Tether falsely claimed at launch that “[e]very Tether+ token is backed 100% by its original currency, and can be redeemed at any time with no exposure to exchange risk”, although this was not true at the time and remains false. Moreover it is one of the top crypto currency exchanges.
Loopring
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Loopring, is one of the top 10 crypto currency exchanges in India. Ex-Google software engineer Daniel Wang founded Loopring in 2017. Loopring tries to achieve this aim through the use of zero-knowledge rollups (a.k.a. ZK rollups).The protocol manages orders in a centralized manner but settles the trade’s on-blockchain.
It also combines up to 16 orders into circular trades instead of allowing strictly one vs. one trading pairs. This approach aims to increase the efficiency of order execution and enhance the liquidity of decentralized exchanges. Most decentralized exchanges on Ethereum take a few minutes to confirm a trade.
But Loopring is attempting to make transactions happen in seconds while reducing the cost and not compromising on safety. LRC is the native token Loopring protocol, and its all-time high is $3.37—a number it made in November 2021.Loopring’s primary use case is to provide a platform for the building of decentralized crypto exchanges.
By combining the advantages of centralized and decentralized exchanges, Loopring aims to offer an efficient and transparent trading experience. Overall it is one of the top crypto currency exchanges in India.
Top 10 crypto currencies in India along with their website:
| SNO. | BRANDS | WEBSITE |
| 1. | Bitcoin | https://bitcoin.org/en/ |
| 2. | BNB | https://www.bnbchain.org/en |
| 3. | XRP | https://www.coindesk.com/price/xrp/ |
| 4. | Cardano | https://cardano.org/ |
| 5. | Solana | https://solana.com/ |
| 6. | Dogecoin | https://dogecoin.com/ |
| 7. | Polkadot | https://polkadot.network/ |
| 8. | Ethereum’s | https://ethereum.org/en/ |
| 9. | Tether’s | https://tether.to/ |
| 10. | Loopring | https://loopring.org/#/ |
Conclusion
As for the final say these are the top 10 crypto currency exchanges. These currency are quite complex but there are some of them which is worth the investment.
see also : Top 10 Cryptocurrency In India
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