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There are more than 7,500 crypto coins in circulation.

Many investors only think of coins with which you can pay.

But there are also cryptos that are based on a platform or a smart technology.

If you invest in cryptos, don’t bet on one horse, but spread your investments.

Check out the homepage of Business Insider Netherlands for more articles.

Whoever says cryptocurrency says bitcoin. That is not surprising, because it is by far the most important crypto currency. The total market capitalization (number of coins in circulation multiplied by the price) of the bitcoin is currently just over $ 1,000 billion.

Bitcoin therefore accounts for half of the total market capitalization of the global crypto market. In other words: that one coin is the same size as all other cryptocurrencies put together.

Cryptocurrencies: Plenty of choice

Anyone who wants to follow the crypto market cannot ignore the bitcoin. Still, it is wise to look a little further if you want to invest in cryptos. Because there is plenty of choice.

Worldwide there are more than 7,500 crypto coins in circulation. Some of them may have useful applications for the future, but they will certainly not all be “winners”.

When it comes to crypto investments, most people think of coins with which you can (also) pay, such as bitcoin or ethereum. But there are also countless cryptos with which you can invest in a smart algorithm or platform. Crpyto Netherlands is popular.

Which flavors are there roughly?

Blockchain technology

However different crypto coins are, they use one technology: the blockchain. Financial transactions, but also documents, for example, are cryptographically encrypted and recorded on a digital log via several computers that are connected to each other.

The first distinction to make is between bitcoin and altcoins.

Altcoins (short for alternative coins) are all other virtual coins that use their own blockchain. For example, you should think of ethereum, stellar and cardano.

Tokens

In addition to bitcoin and altcoins, there are also tokens. These are issued via an ICO (Initial Coin Offering) on an existing blockchain, such as that of ethereum.

Tokens can be anything, such as a share in a company, a title deed, or a bond. There are also tokens with which you do not own part of a company, but only piggyback on the value of the company. The more successful the company is, the faster the value of the currency rises and vice versa.

So many crypto coins, so many applications

The differences between crypto coins are very large. For example, the number of coins in circulation varies and there are large differences in transaction speeds. In addition, each currency has a different application. Cryptocurrency French is popular.

Consider, for example, making payments, exchanging legal documents or storing information.

To give you an idea of the enormous color palette of the crypto market, we have listed a few coins for you.

1. Bitcoin

This crypto coin was originally intended to make decentralized transactions. But bitcoin is now also – and above all – a store of value.

2. Ethereum

Ethereum is a decentralized platform based on blockchain technology that allows transactions of money or documents to take place.

There is also a currency linked to ethereum: the ether. Other parties pay ethers for transaction costs and services on the ethereum network.

3. Cardano

Cardano is a decentralized platform created by scientists. It wants to combine the best of all worlds, such as secure value storage, low transaction costs and scalability. The ADA is the digital currency of this platform.

4. Polkadot

The polkadot was founded by one of the founders of ethereum who wanted to design a better version of the ethereum blockchain. This coin is also called the ethereum killer. Different blockchains can cooperate with each other.

5. Elrond

Elrond is a blockchain protocol that enables extremely fast transactions using so-called sharding technology. The network adapts itself automatically and very quickly based on the participants and the demand.

6. Stellar

This is an open platform that facilitates international payments. You transfer money in a specific currency and then it arrives at the recipient in another currency. Stellar also has its own crypto coin, the lumen.

7. ChainLink

Chainlink is a platform that wants to make smart contracts available to the whole world. These are digital contracts, in which all the necessary information over a transaction has been recorded.

8. Litecoin

Litecoin is an offshoot of bitcoin. It is faster and more coins can be mined with it. This is also called the “digital silver”, as a counterpart to the “digital gold” (bitcoin).

9. Tether

This currency is pegged to the US dollar. This is a so-called stable coin, which means that the price of tether fluctuates less sharply than that of other crypto coins.

10. VeChain

This crypto maps an entire production chain of a product. You can see exactly where the product is made and which parts it consists of. It was founded by Sunny Lu, a former Louis Vuitton employee, who wanted to go to war against counterfeit products.

11. Monero

The monero is an altcoin that focuses heavily on privacy. Unlike bitcoin, transactions on the monero network are not visible to everyone. Although the identity of the payer and the recipient and the amount are recorded, they are protected. You can therefore do anonymous transactions with this.

12. Binance

Binance is a major crypto exchange established in China but has moved to Malta due to local regulation. You can trade cryptos via Binance. Binance also has its own crypto coin: the binance coin.

13. XRP (ripple)

The ripple is a type of payment protocol, which connects financial institutions all over the world and offers them the possibility to make cross-border payments in real time, simply and affordably. It is not actually a currency, but a back-end infrastructure. The currency behind ripple is called XRP.

Unlike bitcoin, there is a centralized network that is maintained by one company.

14. Filecoin

Filecoin is a decentralized storage network that allows anyone to rent out digital storage space. Documents are split into small pieces and then stored on multiple computers all over the world.

It is a safe alternative to cloud services. Those who offer storage space will receive FIL tokens in return.

15. Dogecoin

The dogecoin started as a joke, but this coin has now risen to the top 5 of the largest crypto coins.

Do your homework

The above fifteen cryptos are just a selection of the thousands of cryptos that are tradable. Although many crypto coins move with the price of the bitcoin, each coin has its own characteristics, purpose and application.

It can be difficult to understand the underlying technology of a crypto coin. Nevertheless, it is wise to thoroughly study a currency before investing in it.

Who developed the crypto and for what purpose?

How many coins are in circulation?

What are the advantages?

What are the limitations of the currency?

Are there any competing currencies?

Which parties use the currency or the platform?

By studying it well, you reduce the risk of a blimp.

In addition, just as with, for example, equity investments, it is advisable to diversify your portfolio and not to bet on just one horse. So preferably select multiple crypto coins.

… And limit your exposure

Finally, it is wise to only use a limited part of your assets for cryptos. Blockchain technology has everything to become a disruptive technology, but it is not yet fully developed.

As with all other new technologies, it is not yet possible to say which parties will eventually emerge and which cryptos will lose the battle.

Crypto Insiders gives a unique offer with a new series of articles called ‘For the same money’. In this we interview our crypto coaches, analysts and other crypto fanatics about their position in the market. This time it is the turn of Albert, aka AppY, a technical analyst at Crypto Insiders.

“I am currently short on bitcoin,” he explains, substantiating his technical analysis. “It’s a complex matter, but I expect an ‘Elliot-C-wave’ down within the next few weeks. This means that bitcoin’s price can move to a minimum of $43,000.”

Bitcoin target

The target of this c-wave is difficult to predict, but what is certain is that this analysis does not look good in the short term.” By short term, Albert means about three months, with his first target being $43,000.

I also don’t rule out the possibility that this could be the start of a bigger decline. Folm.io has enough information. So far my expectation from my target ($43,000) is a small rebound to about $47,000 and then we get wave 5 of the Elliot waves, whose target is around $40,000.

You can see that the sentiment towards the crypto market is not very positive at the moment. In addition, I see a clear indication of a downward market correction via Fibonacci in combination with other indicators. “I have shared analysis in Crypto Insiders’ Discord group. People can find the full explanation there.”

Next months

The people who know Albert (AppY) from the Discord environment know that he is very transparent about his portfolio and his trades. He trades two to ten times a day and also shares it in the Discord group. He was on a mission to increase his starting capital of $1,000 tenfold and he is now at $5,000. Along with its target of $10,000, a book from the day-trader is also imminent.

Transparency

In addition to his transparency, he also distinguishes himself from other analysts because he adds word to deed. “I do what I say, and I think that’s very important when you help people trade in crypto.” For example, he recently shared (and made) his switch from Binance to Bybit due to regulations imposed on Binance by De Nederlandsche Bank (DNB).

Learn to trade

Albert likes to share his tips and tricks in Discord and on Twitch, so that others can also earn a nice pocket money from the crypto market. Moveco.io has enough information. The traditional stock trader sees many opportunities, but to take advantage of them, people must first have certain skills.

You have to stay disciplined, have several screens on and above all not be afraid. The emotion should not be a reason to enter or exit a trade.

Do you also want to learn how to day-trade and enjoy Albert’s tips and technical analyzes? Take a look at the Discord environment of Crypto Insiders. He also handles other cryptocurrencies in addition to bitcoin.

According to Katie Stockton of Fairlead Strategies, Bitcoin could rise 34% from current levels as technical data points to a risky environment for the cryptocurrency market.

Stockton expects bitcoin to consolidate its recent gains over the next one to two weeks before moving higher. “Bitcoin is likely to clear $42,600 for a revised upward target of a secondary fibonacci retracement level near $51,000,” Stockton said.

Bitcoin can stand alone

Bitcoin could be on the brink of further upside potential as technical data points to a risky environment for the cryptocurrency market, Fairlead Strategies’ Katie Stockton said in a note on Monday.

Stockton eventually sees bitcoin jump to $51,000, representing a potential 34% advantage over current levels, following a consolidation of recent gains. Bitcoin has surged more than 40% since its July low of around $30,000 before hitting resistance near $42,600.

“We expect the pullback to mature in 1-2 weeks near the 50-day moving average (~$34,800), after which bitcoin is likely to clear $42,600 before a revised upward target of a near secondary fibonacci retracement level. of $51,000,” Stockton said. Safemoon crypto has risen.

In technical analysis, traders use the fibonacci retracement tool to help identify levels of support and resistance that a security may encounter during a sell-off or rally. The tool is applied to a high and low in a security’s price and then based on the Fibonacci “golden ratio”, which targets the 61.8%, 50%, 38.2% and 23.6% levels .

Bitcoin is positive

Stockton noted that long-term momentum remains positive for bitcoin, and a loss of medium-term downward momentum means bitcoin is good for further upside potential.

In addition, bitcoin’s loss of relative strength relative to ether signals “a potential switch to a high-risk environment within the cryptocurrency space,” Stockton said. Ether is up a whopping 57% since its low in mid-July. ETH Ethereum has started to rise.

If bitcoin finds support near its 50-day moving average, it would represent a 9% decline from its current level of around $38,200.