Cryptocurrency has become a very popular topic in the last year, so much so that it’s becoming a point of contention for the SEC. Beyond bitcoin, there are several cryptocurrencies that have been developed to address specific needs and problems. This article will discuss 10 of the most popular types of cryptocurrency.
10: Litecoin (LTC)
Background: Litecoin was created by former Google engineer and MIT grad named Charlie Lee. Litecoin has a little different flavor than bitcoin and investors like it because of the increased efficiency and ability to handle more transactions, sometimes referred to as “silver” to bitcoins “gold.”
Why It’s Popular: Speculation about the future success of cryptocurrencies has driven up demand and prices for most major cryptocurrencies, but Litecoin has maintained its position among the top 10 cryptocurrencies throughout this rise in popularity.
Where Can I Get Some?: Like other cryptocurrencies, litecoins can be bought and sold on many cryptocurrency exchanges. One of the most popular exchanges to purchase Litecoin from is Coinbase, who recently added support for buying and selling Litecoin on their platform.
Monero is a type of cryptocurrency that focuses on decentralization, privacy, and security. Where To Use It: Monero is being used by those who wish to remain anonymous when making transactions or publishing information online.
Where Can I Get Some?: Monero can be purchased from a number of different exchanges, including Poloniex and Bter.
Zcash is said to be a cryptocurrency that offers privacy and selective transparency of transactions using advanced cryptography. Where To Use It: Zcash is largely seen as an upgrade upon the original Bitcoin cryptocurrency, so it can be used in any environment where Bitcoin could normally be used.
Where Can I Get Some?: Zcash can be obtained through a number of different exchanges, including Bittrex and Poloniex.
Peercoin is a first generation peer-to-peer decentralized crypto currency. It was created to address the issues of Bitcoin, such as mining centralization and encouraging energy efficiency.
Where Can I Get Some?: Peercoin can be obtained through a number of different exchanges, including Bter.
Etherium is the second-largest cryptocurrency in terms of market capitalization, and it’s also one of the oldest. Its purpose is to provide a platform for decentralized applications (Dapps) to be built and run by executing scripts via a Turing complete blockchain. Etherium can’t be mined; instead, it’s issued as rewards for those who put computing power in solving algorithmic equations that verify transactions on the blockchain.
Where Can I Get Some?: Etherium can be obtained through a number of different exchanges, including Bter.
Namecoin is another decentralized cryptocurrency in the space besides Bitcoin and Litecoin, though it’s more often seen as an alternative to ICANN and the centralized domain name registration system, as it decentralizes domain name registration.
Where Can I Get Some?: Namecoins can be purchased from a variety of exchanges, and traded for other cryptocoins such as Bitcoin at market value.
5. Binance Coin (BNB)
Binance Coin is the coin used for transactions on Binance, a cryptocurrency exchange.
Where Can I Get Some?: Binance and other exchanges such as HitBTC, OKex and EtherDelta.
4. ZCash (ZEC)
Zcash is known as an open-source decentralized cryptocurrency that provides strong privacy protections for its users.
Where Can I Get Some?: Zcash can be purchased from a variety of exchanges such as Gemini, Bitfinex and Bithumb.
3. Tether (USDT)
Tether is a cryptocurrency that aims to maintain a stable exchange rate with the US dollar.
Where Can I Get Some?: Tether can be purchased from a variety of exchanges such as Coinbase, Binance and Bitfinex.
2. Ripple (XRP)
Ripple is an open payments system that was developed in order to be used by financial institutions for fast and cheap transactions.
Where Can I Get Some?: Ripple can be purchased from cryptocurrency exchanges such as Kraken, Bitfinex and Gatehub.
1. Bitcoin (BTC)
Bitcoin has the largest market capitalization of any other cryptocurrency. It’s influence is so vast that it’s worth often determines the worth of other coins.
Where Can I Get Some?: Bitcoin can be purchased from cryptocurrency exchanges such as Coinbase, Bitfinex and Binance.
We hope that you found the article helpful. Here are some final pieces of advice when choosing cryptocurrency to purchase:
Decide on a budget Decide what your plan is, i.e. where you will be using it or how long you want to HODL for. Go over the list again and do further research. Diversify your portfolio. Make sure to trade responsibly
Good Luck! Thank you all for reading. Have a good day!