Get Into Cryptocurrency Trading Today

Cryptocurrencies are becoming vibrant in the financial sector. A once formidable fiat currency market now faces a significant challenge from the virtual currencies.

Even though successful, not all coins are doing well in the US. The crypto exchanges are under strict regulations for customer safety. For that, they only have to provide only the assured digital currencies. 

This analysis looks into the most traded cryptos in the US. It bases the finding on the top crypto exchanges' performance. 

The top performers are;

1.    Tether

Tether is one of the top stablecoins. The coin came about as a way to solve the volatility issue of the other digital currencies. It allows for access to cryptocurrencies without the volatile market movement concerns. 

The coin's value is at par with the USD at the ratio of 1:1. Its stability has made it the most traded crypto in the US. It surpassed Bitcoin as the most traded crypto in late 2019. It has since never relinquished the top spot.

It has had to fight accusations of lacking a USD reserve in the process. 

2.    Bitcoin

Bitcoin remains the king of cryptocurrencies. As the first digital coin ever, Bitcoin has been the leader in several unprecedented financial territories. 

The US community is one of the top places in the use of Bitcoin. The coin has gained massive traction as it becomes mainstream. Even though most institutional investors took long to accept the currency, they are now embracing it. The hedge funds and the commercial banks are now acknowledging the coin as a medium of exchange.

Several top US merchants lead the way in accepting Bitcoin as a means of payment. PayPal has also announced the possibility to trade and shop using Bitcoin in its platform. With Americans the most users in the forum, Bitcoin will remain one of the most traded Cryptos in the US. 

With a market capitalization of almost $200B, the coin won't slow anytime soon. It has gained massively over the year. The current market state sees it trading at some of the best rates since 2018. It is gaining from the Coronavirus effects and the post-election tensions in the US. These developments make it the ideal "digital gold."  

3.    Ethereum

Ethereum has kept its place as the second-best digital currency since its inception. Only Bitcoin has anything over it. 

It has, over the years, proven as an ideal alternative to the leading crypto. One of its selling points has been its affordability compared to the number one crypto currency. 

The US community is pro-Ethereum due to its role in supporting dApps. The US has one of the largest populations of developers and tech-savvy. They are looking to take advantage of blockchain technology to earn more.  

As the general community embraces the digital world, Ethereum will remain one of the most traded cryptos in the US. It also supports other virtual currencies. This means Ethereum stands to gain as long as the other cryptos are in operation.

4.    Litecoin

Litecoin is another practical fiat alternative and operates like Bitcoin. The digital currency is one of the most popular in the US stock exchanges, with a market capitalization of around $4.6B.

One of the reasons why LTC is one of the most traded cryptos in the US is its fast transaction speeds. It comes with speedier peer to peer transaction confirmation. These are faster compared to Bitcoin's proof of work transaction verification. 

Litecoin, though, has a lot of work to do before catching up with Bitcoin. Already, Bitcoin is established among the dominant merchants and institutional investors. 

5.    Bitcoin Cash

Bitcoin Cash is the best performing fork of Bitcoin. Its proponents bolted from the main virtual currency as they were seeking ways to improve transaction speeds. They resorted to increasing the blockchain sizes. These would accommodate more transactions.

After the success, the coin remains one of the most traded cryptos in the US. It ranks higher in several crypto exchanges in the US.

The coin also comes with in-chain layer scalability. This has made it a functional currency in the crypto market. It also allows for better transaction monitoring. Still, it offers low transaction costs.

6.    XRP

XRP is all about efficiency in money transfer. Digital currency is one of the most traded cryptos in the US as it's faster than any other digital asset. It aids financial institutions in sourcing liquidity on demand.

XRP has revolutionized the whole money transfer using blockchain technology. It remains the only platform to hedge out the traditional money methods like SWIFT. This is due to the low transaction costs while keeping efficiency. As the US residents send the most money to other countries, they have to embrace XRP.

The currency is traded in over 100 crypto exchanges globally, non-affiliated to XRP. This shows how far it has made inroads in the markets. It is only likely to rise in the future.

7.    ChainLink

Chainlink is one of the most consistent, most traded cryptos in the US. The coin has performed well in the year, breaking into the top 10 most cryptocurrencies. CoinMarketCap ranks it as the 5th leading cryptocurrency. This is impressive now that it beat traditional top coins like Litecoin. Its rise is mostly due to the decentralized finances (Defi) boom. 

The Defi uses smart contacts to connect to bank accounts and other payment methods. The coin has been crucial in providing these services. 

It has grown more than 473% in the 2020 financial year. This shows how much it has been traded. Even though the market is correcting, Chainlink remains a formidable cryptocurrency. 

Bottom Line 

The crypto world has been growing throughout the year. Most people are finding it a better replacement for fiat currencies. It is also making money transfer much fun.

With thousands of digital currencies available, not all can perform well. It's only the most functional and practical that gains the most market traction. Bitcoin, Ethereum, and Tether remain the most traded cryptos in the US. Litecoin, Bitcoin, and XRP follow them. Chainlink has also found a firm footing following the Defi boom.

Buy & Sell Cryptocurrency Instantly