What is cryptocurrency

What is cryptocurrency?

Cryptocurrency – it’s beginning, present and future.

It is a digital currency.  It’s that simple.  Unlike currency that you can carry in your pocket, wallet, or purse, it is a currency that is stored and used in cyberland.  Don’t overthink about cryptocurrency.  It is simple, maybe too simple.  Many investors are not on board that this is the currency of the future.  There are good reasons to be skeptical of cryptocurrencies because their beginning has not been entirely innocent.

We are not cryptocurrency experts, but we will try to create a starting point to understand this sizeable confusing maze of chaos.  The digital age of technology creates and inflates the chaos, enabling many non-experts to promote themselves as experts after a short run of luck.  Investing is not for the weak, inexperienced, or poor.  Regardless of what the so-called “experts” say online about cryptocurrency, it is a game of speculation.  Be very cautious about what your read or believe from online sources.  The best advice is to do your own homework and understand this market before you make “your own decisions.”   That is the extent of our advice; do your homework and know what you are getting into before engaging.  Do NOT under any circumstances believe the financial advice from a 20-year-old blogger or YouTube video explaining why the cryptos are going to the moon.  Regardless, do your homework and start with small amounts of money that you can afford to lose.  This asset class is speculative, and most are very volatile.

However, the following timeline might change clarify some events that might help improve some of those perspectives:

  • 2021 – STL.News published this article SpaceX to Launch DOGE-1 to the Moon!, on May 10th
  • 2021 – April 5th, the market capitalization surpassed $2 Trillion.
  • 2021 – February 8th, Tesla announced that they purchased $1.5 billion of Bitcoin and plans to accept Bitcoin for payments, according to a CNBC report.
  • 2021 – According to a CNBC article titled “Dogecoin soaring after tweeting his support,” Musk tweeted on February 4th, “Dogecoin is the people’s crypto.” This tweet sent Dogecoin into space, not using a SpaceX rocket.
  • 2018XRP a.k.a. Ripple released Stable version.
  • 2017Binance Coin was released.
  • 2015Ethereum was released on July 30th.
  • 2014 – UK Treasury commissioned a study on how cryptocurrency would affect their country and economy.
  • 2013Dogecoin was released on December 6th.
  • 2012Peercoin – The first cryptocurrency to use POW and POS functions – Founder Sunny King
  • 2012XRP, a.k.a. Ripple was released with a Stable release on May 15, 2018
  • 2012Peercoin launched by founder Sunny King – first cryptocurrency to use POW and POS functions.
  • JR Willett founded 2012 – Tether in January 2012 – built on top of the Bitcoin Protocol with the initial promise (falsely) to back each token by the US dollar, which never happened.  Surrounded by scandals and investigations.  Extreme caution and due diligence should be exercised before investing.
  • 2011 – Founder Charlie Lee launched “Litecoin” – one of the first cryptocurrencies to use a script as a hashing algorithm.
  • 2009Bitcoin released open-source software – founder Satoshi Nakamoto (#5).
  • 2001Litecoin was released.
  • 1998Wei Dai published a description of “b-money.”
  • 1996 – The National Security Agency (NSA) published a paper on October 31st titled “How to Make a Mint.
  • 1983 – Cryptographer David Chaum created ecash.  Chaum, founder of DigiCash as “ecash,” was the trademark.  Chaum raised $10 million from David Marquardt and Nicholas Negroponte. Mark Twain Bank tested it in St. Louis, Missouri.  However, Mercantile Bank acquired Mark Twain on June 20, 1997.

Today, there are hundreds of cryptocurrencies, and more will likely surface as the technology continues to evolve as part of the evolution and journey to progress.

April 5, 2021, the market capitalization of cryptocurrencies exceeded $2 Trillion for the first time in history.

Below is a list of the largest players in the market now based on market capitalization.  Regardless of what the crypto experts are saying, this is a game of speculation.  We do not endorse any crypto, but these are the largest, but the developers of each token should be taken into consideration.  They are as follows:

  1. Bitcoin – Ticker BTC – with a market capitalization of $1,104,211,894,355 as of May 8, 2021, at 4:00 pm CST
  2. Ethereum – Ticker ETH – with a market capitalization of $444,533,195,819 as of May 8, 2021, at 4:00 pm CST
  3. Binance Coin – Ticker BNB – with a market capitalization of $100,241,328,119 as of May 8, 2021, at 4:00 pm CST8
  4. Dogecoin – Ticker DOGE – with a market capitalization of $88,226,975,914 as of May 8, 2021, at 4:00 pm CST
  5. XRP – Ticker XRP – with a market capitalization of $55,208,538,013 as of May 8, 2021, at 4:00 pm CST
  6. Tether – Ticker USDT – with a market capitalization of $55,259,286,464 as of May 9, 2021
  7. Cardano – Ticker ADA – with a market capitalization of $51,643,021,239 as of May 8, 2021
  8. Polkadot – Ticker DOT – with a market capitalization of $36,931,382,814 as of May 8, 2021
  9. Bitcoin Cash – Ticker BCH – with a market capitalization of $25,713,345,142 as of May 8, 2021
  10. Litecoin – Ticker LTC – with a market capitalization of $23,477,288,413 as of May 8, 2021
  11. Uniswap – Ticker UNI – with a market capitalization of $21,477,288,413 as of May 8, 2021

Investopedia published an article on January 19, 2021 – “The 10 Most Important Cryptocurrencies Other Than Bitcoin.”  It may offer some valuable opinions regarding the best cryptocurrencies to consider for investing.

NOTE: The market capitalization is subject to change without notice.  The prices, which determine market capitalization are constantly changing; therefore, the size and rankings will differ.  These assets are highly volatile, which deserve a high level of prudence.  Never invest funds in any asset class that you can’t afford to lose 100% of the asset. 

While many investors and crypto promoters have a high level of confidence, the risk factors are high.  Additionally, it would be best if you did not compare cryptocurrency to traditional currency.  The FOREX is not regulated like the stock market, but it has a certain amount of supervision by the treasury and federal reserve.  We have obtained our information from sources we believe to be reliable.  Still, we do not guarantee the accuracy of this information because we have not independently verified the accuracy of the source’s information.


  1. Wikipedia – Cryptocurrency
  2. CoinMarketCap – provided our list of cryptocurrencies and market capitalizations – May 8, 2021
  3. WikipediaList of Cryptocurrencies
  4. Library of Congress (loc.gov) – Regulation of Cryptocurrency in Selected Jurisdiction
  5. Wikipedia – Satoshi Nakamoto, founder of Bitcoin.
  6. NDTV – article about Musk tweet that sends Dogecoin into space.