5 cryptocurrencies with the largest and most supportive communities
A community is an integral part of the lifespan of any cryptocurrency. One of the reasons bitcoin was able to come as far as it has, is due to the community that supported it through all its ups and downs. Communities have the ability to make or break a cryptocurrency. With that being said, which cryptocurrency is made up of the greatest community?
There are a couple of ways to determine it. You could look at the market cap, and that is what many do when deciding what cryptocurrency to invest in. However, there are many other factors that should be taken into consideration when determining which cryptocurrency community you want to take part in.
Do they have a stable following on Twitter? What about Reddit? Does the currency offer a sustainable use case? How long has the crypto been available? And what has it done within that time? These are just a few of the questions any potential cryptocurrency investor should ask themselves when deciding which crypto, and by association, what community to invest in.
The following is a list of the most popular cryptocurrency communities in the industry, as well as where you can participate in discussions and aid a cryptocurrency’s prosperity by joining the conversation.
When most people think of cryptocurrency, they think of bitcoin. And why wouldn’t they? In 2008, bitcoin marked the birth of cryptocurrency. In terms of the market cap, it is the most popular cryptocurrency to date. It is a cryptocurrency community made up of both veterans and newbies, as well as professional and amateur investors. It is the crypto that led us to where we are today.
Why is bitcoin so popular, and why does it boast the largest crypto community? Some of the significant factors include its age, as well as reliability and infrastructure. Bitcoins are now accepted almost everywhere, in both crypto and non-crypto worlds. In fact, just this past November they even started being accepted for tax payments in the U.S.!
Bitcoin is over ten years old at this point, and its history has provided a perfect model of how a crypto investment should be handled.
The flexibility of Ethereum and its large community have made the crypto a necessity for any altcoin trader. What bitcoin started, Ethereum expanded upon through the use of smart contracts and other innovative projects.
Ethereum’s community ranges from the average individual investor to corporations such as Microsoft and J.P. Morgan. The Enterprise Ethereum Alliance (EEA), made up of over 385 members, is a “member-driven organization whose fundamental charter is to develop a set of open-source, standards-based blockchain specifications that can be trusted and utilized globally for the betterment of all businesses and consumers,” as stated on their website. It is an organization founded for the promotion of not only Ethereum but cryptocurrencies as a whole. The Ethereum community also founded the Ethereum Community Fund (ECF) – a nonprofit initiative to help fund startups working with the Ethereum blockchain.
Monero users pride themselves on the cryptocurrency’s aspects of anonymity. This anonymity, however, has led to it being restricted from use on the popular exchange, Coincheck.
It is the ability to remain anonymous while using Monero that has garnered it such an extensive community. Sure, many associate it with its nefarious uses on the dark web, but many Monero users see the crypto as a much more secure means of investing and transacting funds. They have groups on Twitter, Reddit and Facebook dedicated to all talk Monero.
EOS’s ability to raise $4 billion, making it the largest ICO in history, says a lot about its community, too. The EOS community’s drive is a reminder of DAOs before things went so horribly wrong for them.
EOS hopes to eventually overtake bitcoin as the leader in the cryptocurrency sector. Seeing as EOS has a market cap of about $2 billion, and bitcoin $64 billion, as shown by Coin Market Cap, EOS still has quite a way to go. However, it is important to note that EOS has only been around for about a year or so, and is already at the fifth position in terms of the market cap. Through its open-source platform and lack of transaction fees, the EOS community is one that will be around for a long time, and it will be interesting to see how they achieve their goal of being number one in the cryptocurrency industry.
Through its solution for providing more efficient global payments, Ripple has built one of the largest crypto communities out there. It is just under bitcoin in terms of its market cap, and grows more by the day. Its list of applicable uses in the finance industry has made it one of the most popular cryptos to watch in 2019. With its network being faster than bitcoin’s and Ethereum’s, it is highly sought after for conducting transactions at a lower rate.
Can’t find anything you like?
If any of these communities appeal to you, go to their website, or engage in discussions held on their forums. By reading the newest information concerning these cryptocurrencies, you should be able to determine which community suits you best. This list is comprised of the largest communities, however, there are thousands of different cryptocurrencies with hundreds of thousands of supporters, so if you can’t find anything on this list, do some research and find a cryptocurrency that you feel most comfortable with.