Bitcoin
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Bitcoin was created in 2009.
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There is only 21 million Bitcoin. However, an estimated 3.7 million Bitcoin have been lost forever, leaving only 17.3 million Bitcoin that can ever be accessed and sold.
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80 per cent of the 21 million Bitcoins have already been mined, 3% of this has been lost. It is predicted that the remaining Bitcoins will be mined by the year 2140. This means in just over a century there will be no new Bitcoins so it will only be possible to buy, sell or trade the coins within the network.
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On May 10, 2010, Laszlo Hanyecz spent 10,000 Bitcoin for 2 Papa John’s pizzas in Florida. This was the first recorded Bitcoin payment for goods and was valued at about $40 at the time. That Bitcoin is now worth over $400 million.
Ethereum
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Ethereum was created in 2013 but didn’t go live on the crypto network till 2015.
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Vitalik Buterin, the co-founder of Ethereum, was born in 1994? He came up with the idea to create Ethereum in 2013, while still a teenager.
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Limits like Bitcoins do not bind Ethereum, it does not have an actual cap. Its only limit is that only 18 million Ether can be mined annually.
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The growth and popularity of Ethereum could overtake Bitcoin in time. Banks and financial institutions worldwide prefer Ethereum over Bitcoin, in fact, Approximately, 84 financial institutions support the R3 project. The R3 project will troubleshoot problems with blockchain technology.
Bitcoin Cash
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Bitcoin Cash is a cryptocurrency that is a development branch of Bitcoin, created in 2017.
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Bitcoin cash was launched to be an affected cryptocurrency, which had the capacity and ability to scale effectively.
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Speed is a significant advantage and draw for Bitcoin Cash. Transactions operate at a much faster rate and have significantly lower fees too. BCH transactions cost less than a cent!
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Whilst there are differences, Bitcoin Cash and Bitcoin actually share several technical similarities. They use the same consensus mechanism and have capped their supply at 21 million, the same as Bitcoin.
Litecoin
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Litecoin was first created in 2011. It is a cryptocurrency first developed by Charlie Lee, a former Google computer scientist.
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Litecoin was created from Bitcoin, but, LTC’s algorithm allows the production of up to 84 million Litecoin. Compared to Bitcoin, this is 4 times the size since only 21 million Bitcoins can be made.
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Surviving a founder leaving! Litecoin is quite possibly the first significant crypto to raise the issue of what happens when a founder cashes out. Lee sold all his LTC at the end of 2017 and yet Litecoin remains one of the top cryptos today.
Dogecoin
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Dogecoin is an open-source cryptocurrency started in 2013 by Jackson Palmer and Billy Markus. It started as a joke, but surprisingly DOGE gets a lot of traction.
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This coin is a “decentralized community-based cryptocurrency” on the Ethereum blockchain.
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The dog on Dogecoin’s logo is a Shiba Inu. Shiba is a hunting dog breed. Interesting is that after the release of Dogecoin, different coins with dogs were launched including Shiba which is now a rival coin of DOGE.
Cardano
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Charles Hoskinson, the co-founder of Ethereum, began the development of Cardano in 2015 and launched the platform in 2017.
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Cardano is a third-generation cryptocurrency. Like Bitcoin, it uses blockchain technology, but unlike Bitcoin, it’s faster, more scalable, and doesn't consume as much energy.
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Cardano's layers mean it's able to process transactions faster than many other cryptocurrencies. In fact, it will be faster than Visa's processing capabilities of 65,000 transactions per second.
Tether
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Tether (USDT) is a cryptocurrency stable coin pegged to the U.S. dollar and backed 100% by Tether's reserves.
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Tether was founded in 2014 and is now owned by iFinex, the Hong Kong-registered company that also owns the crypto exchange BitFinex.
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USDT helps investors move funds between cryptocurrency markets and the traditional financial system, minimizing volatility as a result of its 1-for-1 peg to the U.S. dollar.
Binance Coin
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Binance Coin was founded in 2017 alongside the Binance Exchange.
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BNB is currently behind Bitcoin, Ethereum, and Tether in terms of market cap, it’s remarkable to grab the fourth spot despite serious competition from Cardano, XRP, and Polkadot. Its market cap is currently at around $47 billion.
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BNB can be traded for other cryptocurrencies, or used to pay for transactions on the Binance Exchange, and users also receive a discount for doing so.
Nano
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Nano Coin was launched in 2015 by Colin LeMahieu and is one of the first eco-friendly cryptos to be created.
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The coin was launched to solve the scalability issues of Bitcoin. NANO does not require mining, printing, or minting of new tokens.
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Nano’s popularity also stems from it being a feeless coin! It also boasts instant transfers. This falls in line with the creator’s belief that digital money should be quick and easy to use.
AutoCoinCars
Here at AutoCoinCars, you can buy a car with cryptocurrency! Just choose a car from our amazing stock of new and used cars for sale, then pick the crypto you want to pay in and contact us.
It is that simple! If you'd like to know how to buy a vehicle with crypto you can read our advice here: 10 steps on how to buy a car with cryptocurrency.
If you would like to list a cryptocurrency on our platform or would like to suggest a crypto token/coin you think we should start accepting, you can contact us here.