We’ve been primarily focused on only discussing Bitcoin, because as of now it’s the largest most well known cryptocurrency out there to date. However there are many others that exist numbering in the hundreds, according to wikipedia as of May 2014 there are 275 cryptocurrencies out there in circulation. Just as the US Dollar is the most widely used prominent currency in circulation today as the world’s “reserve currency” Bitcoin is basically the reserve currency of the crypto coin world. It’s market capitalization is right under $6B USD as of today (9/24/2014)
Cryptocurrency Market Cap 2014
Screencap of the largest crypto currencies by market capitalization to date. Many of these are very cheap and nothing is remotely close to the Bitcoin Market Cap.
There are a few crypto currencies in circulation at the moment. We’re focusing on the ones with the largest market capitalization. Some of them, such as Dogecoin, Litecoin, and Ripple, we’ve written about. There are so many scams, that many do not know where to look and who to trust when gathering this information. Many even want to consider reading a book on defi.