Exploring the Most Popular Cryptocurrencies Offered by IG

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Cryptocurrencies have established themselves as significant tradable assets in the financial markets, with distinct properties and use cases that appeal to different types of investors.

Cryptocurrency investing is now available with IG for eligible UK-based clients. The service offers access to over 35+ cryptocurrencies.

Bitcoin (BTC)

Bitcoin functions as digital gold – a store of value with a hard cap of 21 million coins.

Uses Proof of Work consensus to validate transactions
Limited supply creates scarcity unlike traditional currencies
Remains the largest cryptocurrency by market capitalisation

Ethereum (ETH)

Ethereum provides a platform for decentralised applications (dApps) and smart contracts that automatically execute agreement terms.

Transitioned from Proof of Work to Proof of Stake
Significantly reduced energy consumption with "The Merge"
Enables applications beyond simple value transfer

Ripple (XRP)

XRP facilitates fast, low-cost international transfers between different currencies for financial institutions.

Uses unique Ripple Protocol Consensus Algorithm (RPCA)
Settles transactions in 3-5 seconds
Handles 1,500 transactions per second
Doesn't require energy-intensive mining

Litecoin (LTC)

Litecoin offers faster transaction confirmations and lower fees than Bitcoin, making it suitable for smaller, day-to-day payments.

Created in 2011 as one of the first Bitcoin alternatives
Often described as "silver to Bitcoin's gold"
Designed for smaller transactions

Stablecoins (USDT, USDC)

Stablecoins maintain stable value by pegging to fiat currencies like the US dollar.

Provide protection against market volatility
Serve as base currency for trading pairs
Work as bridge between traditional finance and cryptocurrencies
Allow trading without exposure to typical price fluctuations

Solana (SOL)

Solana offers high transaction throughput and low fees as a direct competitor to Ethereum.

Popular platform for launching and trading meme coins
Has experienced reliability issues and network outages
Designed for hosting decentralized applications

Popular Altcoins

Beyond the major cryptocurrencies, numerous alternative coins ("altcoins") offer different technological approaches and use cases.
Altcoins like Cardano (ADA), Polkadot (DOT), and Dogecoin (DOGE) offer alternative approaches to blockchain implementation.

Cardano emphasizes academic research
Polkadot focuses on interoperability between blockchains
Dogecoin began as a lighthearted project that gained mainstream attention

Why They Matter: Altcoins introduce technological innovations and alternative approaches to blockchain implementation.

What to Consider: Altcoins typically show higher volatility than established cryptocurrencies

What are the different crypto asset categories and their risks?

Asset Type	Description	Key Risks	Examples
Stablecoins	Pegged to fiat currencies	Counterparty risk Redemption risk Collateral risk FX risk Algorithm risk	USDC DAI USDT
Meme coins	Derive value from community interest and online trends	Extreme volatility Lack of utility Market manipulation Limited transparency Emotional investing	DOGE SHIB PEPE
DeFi tokens	Linked to financial applications on decentralized blockchains	Smart contract risk Regulatory risk Rug-pulls/exit scams Data/oracle risk Protocol complexity Liquidity issues	UNI AAVE LINK
Staked crypto assets	Support transaction validation and consensus processes	Liquidity risk (locked assets) Non-guaranteed rewards Protocol risks Slashing risk	ETH SOL ADA

What should you consider before investing in cryptocurrencies?

Each cryptocurrency serves a specific function in the digital economy
All cryptocurrencies carry unique risks including regulatory uncertainty, technical vulnerabilities, and market volatility
Always conduct thorough research before investing
Implement risk management strategies for these digital assets