BREAKING: Pi Network is rated the fourth largest crypto network in the world after Coinbase, Binance and Crypto.com

Before we get to the rating of the digital currency mining and trading platforms, we also ought to know these companies also provides digital wallet without which there won’t be any medium of exchange.

So what then is a digital wallet?

A digital wallet, otherwise called an e-wallet, is an electronic service (usually online) or a software application that permits one party to make electronic exchanges with another party dealing only in digital or  cryptocurrency units for goods and services.

Difference between a digital and cryptocurrency

Well, investopedia defined digital currency in this way;

• A digital currency is a form of currency that is available only in digital or electronic form. It is also called digital money, electronic money, electronic currency, or cybercash.

• A cryptocurrency is a digital currency which is an alternative type of payment made utilizing encryption technology. The utilization of encryption innovations implies that digital forms of currency works both as a cash and as a virtual accounting framework. To utilize cryptographic forms of currencies, you really need to get a digital currency wallet.

What data did we consider in doing our rating?

We put many things into consideration before we arrived at the data which we thereafter published on our news portal. Some of these data are:

1. Number of platform users.
2. Where the number of users is the same with another company, we then consider the number of social media followers especially twitter.
3. Number of countries covered
4. Annual transaction volume.

Top 10 digital or crypto platforms or networks of the year (2022)

Below are the list of our top ten crypto or digital trading or mining platforms of the year 2022:

1. CoinBase (103m users)

Coinbase is an app that lets you buy and sell all sorts of cryptocurrencies, like bitcoin, ethereum, litecoin and about 50 others. You can also use Coinbase to convert one cryptocurrency to another, or to send and receive cryptocurrency to and from other people.

Approximately 103 million verified users, 14,500 institutions, and 245,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.

Followers on the social media platforms:

Twitter: 5.3 million followers

Facebook: 366k likes

Instagram: 401k followers

2. Binance (90m users)

The Binance Exchange is one of the leading cryptographic currency trading platforms established in 2017 in Hong Kong. It features areas of interest for an altcoin trading. Binance offers crypto-to-crypto exchanging in excess of 600 digital forms of currency and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own symbolic Binance Coin (BNB).

Binance is the world’s largest crypto exchange by trading volume, with $76 billion daily trading volume and 90 million customers worldwide.

Followers on the social media platforms:

Twitter: 9.4 million followers

Facebook: 1.1m likes

Instagram: 2.9m followers

3. Crypto.com (50m users)

Established in 2016, Crypto.com has developed into a completely fledged and notable worldwide digital currency hub in a couple of years. It’s crypto ecosystem comprises of Crypto.com App, Crypto.com Exchange, Crypto.com DeFi trade and Wallet, Crypto.com Pay, Crypto Earn, Crypto Credit, and numerous different services. Crypto.com works with regulatory institutions all around the globe, and aims to bring helpful method for purchasing, selling, exchanging and spending digital currencies.

According to cryptoranking.com, Crypto.com trades in volume of about $393.89 million on a daily basis.

Followers on social media platforms

Twitter: 2.5m followers

Facebook: 479k followers

Instagram: 1m followers

4. Pi Network (35m users)

Pi Network is a digital currency project that aims to keep cryptocurrency mining accessible, as the centralisation of first-generation currencies like Bitcoin (BTC) has put mining them beyond the reach of many everyday users.

The Pi Network, developed by a team of Stanford University graduates, enables users to mine PI cryptocurrency coins using its desktop and mobile phone apps, validating transactions on a distributed record.

Unlike nodes on networks such as Bitcoin that use proof-of-work (PoW) protocols, Pi nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records.

Under SCP, Pi nodes form security circles, or groups, of three to five trusted people known to each of the network’s users. Security circles build a global trust network that prevents fraudulent transactions, as transactions can only be validated on the shared ledger if the trusted nodes approve them.

The PI mining App acts as a cryptocurrency wallet, linked to a user’s mobile phone number or Facebook account. As with other public blockchains, the Pi blockchain will allow external wallets to hold PI coins and submit transactions directly to the blockchain. However, unlike other blockchains, its developers have not yet released its source code.

The network or community known as “pioneers” has grown from 100k users at launch to over 35M+ users in over 230 countries or regions. In June 2022, a lot of pioneers migrated to the Pi mainnet following the adoption of the Pi network through KYC.

At present the core team are yet to give an update on the volume of transactions yet.

Number of followers on social media

Twitter: 1.7m followers

Facebook: 1.2m likes

Instagram: 1.3m followers

5. Luno (10m users)

Luno is a digital currency exchange facility that offers clients a technology platform to buy, sell and store digital currencies as well as pay for products and services using a cryptocurrency wallet. Digital currency is also known as a cryptocurrency and the two most famous examples are Bitcoin and Ether, the latter being the digital currency used to power Ethereum.

Formerly known as BitX, the company headquarters are in London, United Kingdom; and the company is represented in 40 countries around the world. However, Luno is focused on developing countries which have proven to be lead adopters of cryptocurrency. This includes South Africa, Nigeria, Indonesia, Zambia and Malaysia.

According to coinranking.com, luno witness a daily transaction volume of at least $3.87m.

Followers on social media platforms

Twitter: 95.4k followers

Facebook: 187k followers

Instagram: 64.5k followers

6. CoinDCX (10m users)

CoinDCX, India’s most valuable crypto investment app, is dedicated to make crypto accessible in a simple way. Established in 2018, CoinDCX has solved numerous problems faced by the Indian crypto community with solutions around crypto investing, crypto trading & crypto literacy.

‘CoinDCX Earn’ is a brand new way for investors to make passive earnings on their idle crypto investments. Given the volatile nature of crypto assets, Earn allows investors to add secured passive earnings of up to 13% in addition to benefiting from market movements in the long term.

Earn allows investors to not just outlook crypto assets as short-term opportunities but as assets to help build crypto wealth. ‘Earn’ could be the best fit to help build your crypto portfolio for the long term.

In addition to earning benefits, there is no lock-in period on ‘CoinDCX Earn’*. The ‘Earn’ feature can be beneficial for investors who ‘HODL’ their crypto assets for longer and help bring in investment discipline as well.

According to coin ranking.com, CoinDCX has a daily transaction volume of $1.39m.

Followers on social media platforms

Twitter: 230k followers

Facebook: 11k likes

Instagram: 103k followers

7. Bybit (6m users)

Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class.

According to cryptopapking.com, Bybit has a transaction volume of about 494k on a daily basis.

Followers on social media platforms

Twitter: 2.4m followers

Facebook: 791k likes

Instagram: 99.8k followers

8. PrimeXBT (6m users)

PrimeXBT is a web-based trade intended to help the exchanging of cryptos, forex, stock lists, and items, giving financial backers market admittance to in excess of 70 resource pairings.

Established in 2018 and settled in the Seychelles, PrimeXBT upholds the exchanging of the market’s biggest cryptos by market cap.

These incorporate Bitcoin (BTC), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), and Wave’s XRP (“XRP”). Notwithstanding crypto-USD pairings, PrimeXBT additionally upholds the exchanging of crypto-BTC pairings. These incorporate EOS/BTC, ETH/BTC, LTC/BTC, and XRP/BTC.

Across the FOREX markets, Prime gives financial backers admittance to the significant fiats that incorporate the Aussie (“AUD”) the Euro (“EUR”), the Loonie (“computer aided design”), the Swissie (“CHF”), the Japanese Yen (“JPY”), the Pound (“GBP”), and the Greenback (“USD”).

Trading volume reported by coingecko to be $245m on a 24 hours basis.

Followers on social media platforms

Twitter: 149k followers

Facebook: 16k likes

Instagram: 20.8k followers

9. Busha (200k users)

Busha is a cryptocurrency and trade platform that permits buyers and vendors to exchange utilizing digital monetary forms, for example, Bitcoin and Ethereum securely and safely. Users can likewise use the Busha App to trade digital currencies. Busha is not difficult to use, it is available and easy to use. Busha centers around involving advancement and effectiveness to further develop cryptographic currency adoption in Africa.

Busha has a daily transaction volume of $4.2m.

Followers on social media platforms

Twitter: 3,916 followers

Facebook: 15k followers

Instagram: 4,269 followers

10. Swiffin (2m users)

Swiffin could have occupied position nine but for the fact that it’s not fully active has affected their position on our rating.

Swifin provides design and implementation of mobile enabled core banking, payment exchange services and the delivery mobile financial services. The SWIFIN transaction exchange also provides clients with access to online banking capability enabling them to transact and monitor all financial transactions online.

Swifin drives financial inclusion through real time transaction settlement using any mobile phone and empowers partners to reach customers beyond their traditional borders, to deliver services efficiently and cost effectively.

Swifin services and platform is open to all users across the globe and not restricted to specific networks.

Swiffin has become very popular when the Economic Community of the Sixth African Region (ECO-6) unveiled it’s digital currency (AKL or Lumi) through its digital platform. The ECO-6 stimulus compelled beneficiaries to register on the swiffin platform making it to become very popular until when it claimed it embarked on an upgrade.

At the moment, Swiffin has no verified daily transactions since the platform is not fully working.

Followers on social media platforms

Twitter: no verified account

Facebook: no verified account

Instagram: no verified account

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