Unless you have been in hiding over the last 12 months or so, you can’t have failed to notice that cryptocurrency is big news in the UK. Not just the UK: the popularity of crypto has exploded around the world. With the chance to buy a car using crypto and even to play at a Bitcoin casino, it is clear why the growth in popularity is only set to continue.
As Blockchain has developed, creators have looked to satisfy the demand for cryptocurrencies and this has seen more and more ‘coins’ arriving on the scene. Some of these are great while others are not so! Here’s a look at the top 5 in the UK right now:
No conversation around crypto can take place without reference to Bitcoin. As the original crypto, Bitcoin continues to be the most popular in the UK and beyond. What has seen this coin surge is the fact that it has become mainstream and is now widely accepted. Besides Bitcoin casinos, there are now multiple retailers who will accept this currency and the likes of PayPal have also opened up to this.
Seeing top companies and hedge fund managers investing in Bitcoin has helped to boost its popularity with those in the UK.
ETH was launched back in 2014 and ever since it has been regarded as the second biggest cryptocurrency. It is a coin that has hit record highs in terms of value throughout 2021 and one that appears to be going from strength to strength.
Part of what makes ETH so popular in the UK is that it is not just a currency. As well as being able to use ETH to buy goods and services, it is more popular for the fact that it has smart contract features. It is also known for being the go-to platform for Non Fungible Tokens and these are something that have exploded in popularity during 2021.
ADA has performed impressively over the last 12-18 months or so. One of the factors that make this cryptocurrency so popular is the fact that it is ever-evolving. Those behind Cardano have not just created a coin and remained static. There are regular updates that seek to address some of the most common issues that users experience with crypto.
Something else that aids the popularity of ADA is its green credentials. When Bitcoin came under fire for the energy required to mine, ADA stood proud as a crypto that is much kinder to the environment.
It is now difficult to believe that DOGE started off as a bit of a joke. Its creators never really intended for the coin to take off as it has. Its original aim was all around poking fun at the workings of Bitcoin.
The popularity of DOGE has been driven by the celebrities that endorse it. The biggest influence here has got to be Elon Musk who regularly comments on DOGE and how it is likely to experience massive growth.
Shibu Inu (SHIB)
Originally looked at as just another meme coin, SHIB has shown itself to be a worthwhile investment. Indeed, those who got in at the start, on the back of the ‘Woofpaper’ are now already millionaires. This is a crypto that has a community that loves all that SHIB stands for and this helps to boost its popularity.
The other reason that SHIB is so popular in the UK is that its price is still low. When compared to Bitcoin, SHIB is accessible to all and everyone has an equal chance of hitting it big if they act