What is the price of the main cryptocurrencies this day

Virtual currencies have had a boom in recent months and Bitcoin has achieved its legality in El Salvador

Digital currencies They have experienced a rise and down in recent times, since certain billionaire characters – such as Elon Musk – and governments have chosen to give them a push as legal tender, but have also recorded some stumbling blocks such as the «cryptocash», which occurred in early May 2022 that put many cryptodivisas in check.

By Infobae

Despite this panorama, more and more people have decided to enter the world of cryptocurrencies in the hope of having an investment in the medium and long term, despite the volatility that characterizes them.

The cost of cryptocurrencies

This is the price of the main cryptocurrencies for this March 5.

He Bitcoin It quotes this day at $ 89,764.16, which implies a change of 4.3% in the last hours.

The second most popular digital currency on the market, Ethereumhas shown a movement of 4.07% in the last 24 hours, so its value is located at $ 2,232.85.

About Tether usquotes at $ 1, so on the last day it had a 0.08%movement.

For its part, BNB It has a value of $ 600.83, with a change of 4.46%, while the Litecoin It does the same with $ 104.9 after a variation of -4.59%.

Finally, the Dogecoinone of the cryptocurrencies that was driven by Elon Musk, has a value of $ 0.2 after presenting a change of 2.77% in the last 24 hours.

How does the cryptocurrency market work?

Representation of a bitcoin cryptocurrency. (Reuters/Given Ruvic)

He cryptocurrency market It works decentralized and is based on blockchain technology that guarantees safety in its transactions. Although each of them can have specific rules and mechanisms Of its operation, there are some general characteristics that can be listed and that facilitate their understanding:

Blockchain: Unless it is a token, all cryptocurrencies resort to blockchain technology, a decentralized digital record that allows verified operations to be carried out through a computers network called nodes.

The blockchain helps to register and verify all the transactions made with the cryptocurrency and each of them is grouped into blocks, which in turn joins a block chain sequentially, thus creating an immutable and transparent history for all.

Cryptography: This type of digital currencies use the cryptography technique to protect privacy among users, authenticates transactions and also controls the issuance of new currencies.

Mining: Some cryptocurrencies use the mining process to validate and ensure network transactions. Miners use their computational power and solve mathematical problems to verify and ensure transactions in return receive rewards in the form of new cryptocurrencies.

However, many cryptocurrencies have a limited offer, which means that only a finite number of new units will be created, to avoid inflation and maintain the value of long -term cryptocurrency. The issuance of new ones may be scheduled or may depend on a consensus of the community.

Wallets: portfolios are applications or devices that allow users to store and manage cryptocurrencies. There are several types: those that are online (in the cloud); the software (on the computer or on a mobile device); and hardware (physical devices that store private keys safely).

Keys: Each user of a cryptocurrency has a public and private key; The first serves to receive funds, while the second is used to digitally form transactions and demonstrate the property of the funds.

Its advance in Latin America

Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has determined that none of the institutions that participate in the National Financial System may use or should allow operations of any kind through this means of payment.

In Mexican territory, businessman Ricardo Salinas Pliego, one of the richest in the country, has shown interest in cryptocurrencies and has assured that several of their businesses will accept Bitcoin in the future, including their bank; So far one of its most popular stores already does.

A representation of cryptocurrencies. (Reuters/given Ruvic/Illustration/File Photo)

Cryptocurrencies in Peru: The Central Reserve Bank of Peru (BCR) has made it clear that its mission is not to be the first or the second central bank that regulates the use of cryptocurrencies, this due to the instability that characterizes them. However, days ago the president of (BCR) said that the BCR worked on an own digital currency project.

Cryptocurrencies in Colombia: In the South American nation there are more than 500 sites where it is allowed to pay with cryptodivisas. Colombia occupies the 14th position among 26 cryptocurrency adoption countries, according to the Finder report.

Cryptocurrencies in Central America: In the government of El Salvadorhe Bitcoinwhich in September 2021 became legal tender, has officially lost this status in this January 2025 after a reform approved by the country’s legislative assembly. As reported by the local press, the modification of the Bitcoin Law It was promoted by the president’s government Nayib Bukele and backed by the official majority in the legislative body. This change marks the end of a policy that had placed the Central American country in the center of the global debate on cryptocurrencies.

How to create a cryptocurrency?

When creating a cryptocurrency it is important to determine what you want to have: a currency or a token. The first uses its own blockchain, while the second is based on a pre -existing network.

According to the Binance site, to create a cryptocurrency, a great team of developers and experts; while for the token technical knowledge is required but it is possible to create it in minutes through the use of others Blockchains like Ethereum or BNB, which are the most popular.

The creation costs, the required time and the use of workforce will depend on whether to do a virtual currency or a token. In the latter case, a established code To create tokens or pay to use a currency creation service.

It is important to know that before creating a cryptocurrency, its utility and legal status should be considered.

In the case of choosing to create a cryptocurrency, then you must choose a blockchain, then a plan according to the operation and functionality of the blockchain must be made to design the nodes and interface.