Different types of Cryptocurrencies available for your investment

by on February 20, 2022

More than two thousand blockchain assets are available in the crypto market, and choosing the best one is difficult. Bitcoin is the leading cryptocurrency. Many cryptocurrencies started in 2011, and you can find some unique features in each blockchain asset. Almost all bitcoin-buyer app are built on the same principles that Bitcoin has used. For example, you can find similar features in these assets, like all cryptocurrencies are managed by blockchain technology and are not controlled or regulated by any government. Cryptocurrencies use a public ledger that is based on peer-to-peer review. 

Before you choose crypto, you need to know their types. Here, you can find different types of cryptocurrencies available in the market: 

  • You can use cryptocurrencies as payment currency, and when required, you can also convert your crypto into fiat currency to pay your bill. You can use your crypto wallet for online purchases, and you can pay for goods and services by converting your digital assets into fiat currency. Almost all cryptocurrencies have this facility, but you can find differences in their merchant list. Some of them are widely accepted by online shops, and you can choose Bitcoin and Litecoin in this regard. 
  • Bitcoin or cryptocurrency transactions are based on blockchain technology to create your digital assets like tokens. Some blockchain platforms are available like ETH, ETC, EOS, NEO, and TRX. You will find different applications and assets on these platforms, and you can use such applications to create your assets. 
  • Some of the cryptocurrencies are based on privacy, and only senders and receivers can know about their transactions. Apart from that, the owner of a wallet can know the balance of his wallet and these coins are known as privacy coins. There are a few numbers of privacy coins available such as ZEC, XMR, and PIVX.  
  • If you are interested in blockchain-based products and services, then you can choose utility coins like ERC20 or TRC20. These coins are part of the blockchain economy, and you can find such coins on various blockchain platforms. You can find similar coins in the market like GNT, BAT, CVC, 0x and OMG.
  • The Crypto market is highly volatile, and cryptocurrencies are fluctuating day by day. There are some stable coins available, known as utility coins, which are available at the same price. For example, if you are a trader and invest your amounts in a stable coin, then you can sell your coins anytime. If you think that the value of your coin is going to decrease, then you can sell them off to protect your investment. There are many stable coins available such as USDC, PAX, GUSD, USDT, DAI, and TUSD. 

There are over 8000 cryptocurrencies to select from, and you may pick the  one  after a thorough research and analysis. Start with a trusted platform like Bitcoin Era, which is widely regarded as a reliable platform. 

Top cryptocurrencies available in the market: 

  • Bitcoin – Bitcoin is the most popular cryptocurrency in the world, and it is based on blockchain technology, where a decentralized public ledger is maintained to store the transaction records. Miners can use high-end computers to verify the blocks and generate bitcoin, and a huge amount of energy is invested in this mining process. 
  • Ethereum – It is similar to Bitcoin, but it is based on programmable blockchain technology where users can create and publish their digital assets. 
  • Cardano – Popularly known as ADA, this platform is based on PoS, which is used to collect data from multiple sources that can be used further to audit a product’s manufacturing path. 
  • Binance Coin – It was launched on the Ethereum platform, but now BNB has an independent blockchain platform named Binance Exchange. Here the users can exchange their cryptocurrencies. People can use this platform for making online payments with their cryptocurrencies, and you can book travel tickets and buy goods and services through this platform. 

Final thoughts

Apart from that, some big players are available in the crypto market, like Tether, Solana, XRP, Dogecoin, Polkadot, and USDC.  If you are also keen on investing in cryptocurrency and want to start your investment journey, then register on Bitcoin Era and start building your cryptocurrency portfolio.

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