Nikit Shingari | Types of Cryptocurrency

Understanding The Different Types of Cryptocurrency Nikit Shingari

Cryptocurrencies are divided into coins and tokens and it is mandatory to know the difference between those two.

The digital coin owns its blockchain and holds value. It is also used for business transactions between two parties.

Token, on the other hand, is built on an existing blockchain and it can be used for various things other than digital money. it can be used for security, assets, and others.

TYPES OF CRYPTOCURRENCIES

Out there there are different types of cryptocurrencies and some people still have a project of creating their blockchain. Here are the few cryptocurrencies by Nikit Shingari

BITCOIN

Bitcoin is considered the world's first cryptocurrency, and the best-known type of crypto.

ETHEREUM

TETHER

Ether is a cryptocurrency that is run on the Ethereum blockchain.

Behind bitcoin is the second most popular cryptocurrency in the crypto space by market cap.

Based on market capitalization tether is the largest stablecoins and also was one of the first cryptocurrencies to be tied its value to a fiat currency which is the US$.

BINANCE

one of the largest cryptocurrency exchanges in the world as of 2021.

CARDANO

Cardon, which is also known as ADA, uses a previewed blockchain protocol technology called Ouroboros.

DOGECOIN

Dogecoin cryptocurrency was created using a popular meme featuring the Shiba Inu dog.

POLKADOT

XRP

It was launched in May 2020 and one of its goals is to dethrone Ethereum.

XRP is considered a faster, cheaper, and more efficient way of a global transaction.

SOLANA

Solana, also known as SOL, is a new cryptocurrency established in March 2020.

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