How many cryptocurrencies are there?

Cryptocurrency is a very interesting topic, and it is a topic where many questions can be asked. A question that has sometimes been asked is “How many cryptocurrencies are there?”

For how many cryptocurrencies are there really? Is there a specific number that you operate with? Bitcoin is one of x different cryptocurrencies? That’s actually not a good thing to say.

We think this is a very interesting issue, and this is something we want to take a closer look at. And we will do that in this article.

Many new cryptocurrencies are legitimate, but some are not worth investing in:

Lots of numbers swirling

There is at least one thing we can establish, and that is that there are many numbers swirling around in connection with this.

Have you tried to google exactly this key phrase? At the time of writing, there are approx. 611,000 search results for this phrase. Google this will also – not surprisingly – give you answers that differ a bit.

Some claim that there are around 2,000 cryptocurrencies, and this is what comes up as the top result when you type in the key phrase “how many cryptocurrencies are there” in Google. But are there only 2,000 cryptocurrencies?

By scrolling a little further down on the search results, you will quickly find a slightly different answer. But you may have to look a bit, because another article says that CoinMarketCap made a list that contained 11,000 different cryptocurrencies in August 2021. Therefore, it is anything but easy to know what standing actually is.

Lots of speculation – maybe no one knows

When it comes to how many cryptocurrencies there are, there is a lot of speculation out there. There are probably very few who have the fasit – if there is any fasit at all.

There is no register where developers have to register the cryptocurrency they have developed. And that makes it more or less impossible to follow this very development.

In recent years, there has been the greatest focus on which cryptocurrencies have been most popular, and this is still the case. And there is no reason to believe that it will be anything different either. Here is a small overview of some of the most popular cryptocurrencies we know of:

• Bitcoin
• Ethereum
• Litecoin
• Tether
• Dogecoin

How Many Cryptocurrencies?

In connection with this issue, it is especially a question that is extra interesting. And it is simply: Why are there so many cryptocurrencies that we have completely lost track of how many there actually are?

The reason for that is really very simple. And that’s simply because cryptocurrency is very easy to create – at least for those who have the knowledge to do so. Most cryptocurrencies are based on open source code, which in practice means that you can easily take this code and make some changes to make it your own. This is how many cryptocurrencies, including those we know, have come into being.