Although the US market may be the most talked about in terms of crypto potential, there are many other markets across multiple continents that crypto connoisseurs need to keep their eyes on, and the UK is one of them.
Due to the relatively high purchasing power of UK citizens, the UK’s market, strongly focused in England’s long time financial hub and capital city, London, has developed into one of the most important cryptocurrency centres in the world. Staying on top with cryptocurrencies that are popular with UK investors is a good idea.
With that being said, the digital currency world is a notoriously fast moving market, so we have put together a list of some of the most popular cryptocurrencies in the UK at the moment. Make sure you take into account that things change fast, and so since the publishing of this article there could have been many new developments so stay up to date!
Crypto is making a lot of online transactions a lot easier. Individual transfers are one thing that massively benefits, but there is huge potential for business – especially those operating in the entertainment and leisure world. For example, players who enjoy the thrill of a crypto casino take advantage of easier and more transparent transactions, so they can just focus on the fun of playing casino games, rather than worrying about transaction fees or slow deposit times.
Now we’ve got that out of the way – let’s get into it!
Bitcoin (BTC) – Overall Number One Cryptocurrency In the UK
Bitcoin (BTC) is pretty much known for being the OG crypto currency, and for this reason among others, people seem to trust it. Its widespread recognition has firmly established it as the top digital currency choice among the UK population. This is partially due to Bitcoin’s accessibility and proven track record making it a favoured investment and transactional asset, in addition to the ever growing number of individuals and businesses in the UK embracing its potential in the evolving financial landscape.
Ethereum (ETH) – Most Smart Contracts Platform
Probably in the top three cryptos you will hear about regularly, Ethereum, often abbreviated in finance talk as ETH, stands out as the most influential platform for smart contracts in today’s market in the UK. Its dominance is really evident in how widespread in contracts it’s become, with pretty expansive usage of its blockchain technology. Ethereum’s avid fans and continuous development make it likely to maintain its status as the leading smart contract platform in the ever-evolving blockchain landscape.
Decentraland (MANA) – Into The Metaverse
Imagine a world where you can explore, build, and more importantly, trade, in a shared fully virtual space – that’s the dream that Decentraland is adding to in its support of the metaverse. Where virtual reality meets the blockchain, that’s where MANA is doing the work – and quite frankly, is thriving.
Chainlink (LINK) – Specialising In Decentralised Oracles
Chainlink ( AKA LINK) is the one to watch when it comes to decentralised oracles within the cryptocurrency space. Chainlink’s decentralised oracle network gives its users a tough and secure bridge between blockchain technology and external data sources, which as result enhances the functionality as well as its potential use in smart contracts.
Conflux (CFX) – The Biggest Upcoming Cryptocurrency
Conflux (CFX) is THE rising star in the cryptocurrency world, gaining rapid popularity among both newer enthusiasts and more experienced investors. This new entrant to the digital currency space has swiftly captured the attention of the crypto community, thanks to its unique consensus mechanism and a focus on scalability. With developments like this, Conflux has truly demonstrated its potential to address some of the key challenges facing blockchain technology, and it’s not gone unnoticed. Its growing user base really does indicate a bright future for Conflux.
Cardano (ADA) – The Eco Ethereum Choice
Ethereum’s ambitious cousin, Cardano is the cryptocurrency of choice for those who are conscious of their eco impact. But what else sets Cardano apart? ADA utilises a POS (proof-of-stake) algorithm. This means compared to the other digital currencies, it’s super energy-efficient and can process transactions very effectively. Cardano’s got its sights set on building a platform that’s sustainable too, and with a passionate community, as well as a visionary team behind it, this crypto is one you shouldn’t underestimate.
Dogecoin (DOGE) – Elon Musk’s Favourite
Want to bet on someone to succeed? Elon Musk is a good start. Dogecoin (DOGE) is known for having the favour of the famous CEO of Tesla, SpaceX, and now Twitter owner, and it’s likely Musk’s fondness for Dogecoin has significantly contributed to its popularity. Amazingly, it was originally created as a light-hearted and meme-inspired cryptocurrency, but since it emerged, Dogecoin has actually gathered a pretty impressive following, and evolved into a digital asset to be taken seriously.
Solana (SOL) – It’s All About the Scalability
We couldn’t finish this list off without mentioning Solana (SOL). Solana, often abbreviated to SOL, is all about one thing: scalability. Solana can get through transactions at lightning speed. This of course means faster, more efficient use and as a result, a smoother user experience. It also means that Solana can easily be used for business and transactions of different scales, so definitely one to watch as the market grows.
As always it is important to do your own research before making any kind of investment. Crypto currencies are notoriously volatile and you could lose your investment.
