Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. The most traded cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Litecoin. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. It is decentralized, meaning it is not subject to government or financial institution control. Bitcoin is the most traded cryptocurrency, with a market capitalization of over $100 billion as of June 2018. Ethereum, the second most traded cryptocurrency, was created in 2015. It is also decentralized and has a market capitalization of over $50 billion as of June 2018. Ethereum is different from Bitcoin in that it allows for smart contracts, which are programmable agreements that can be executed automatically. Bitcoin Cash, the third most traded cryptocurrency, was created in 2017. It is a fork of Bitcoin, meaning it shares its code with Bitcoin but has made changes to its protocol. Bitcoin Cash has a market capitalization of over $30 billion as of June 2018. Ripple, the fourth most traded cryptocurrency, was created in 2012. It is a centralized cryptocurrency, meaning it is subject to government and financial institution control. Ripple is different from other cryptocurrencies in that it is focused on being a payment system for banks and other financial institutions. Ripple has a market capitalization of over $13 billion as of June 2018. Litecoin, the fifth most traded cryptocurrency, was created in 2011. It is similar to Bitcoin but with a few key differences. Litecoin is faster and has a higher capacity than Bitcoin. Litecoin has a market capitalization of over $8 billion as of June 2018.
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