Many must be exclaiming that is this real money?! Here is our answer.
Let’s see in detail about this wonderful platform called cryptocurrency. When the whole world was chasing money, this cryptocurrency gained the attention of various investors all over the world.
This is also termed as virtual or digital money which is an absolute alternative for money. This cryptocurrency created a revolution in the investors’ platform globally. The market for this cryptocurrency is showing an enormous growth day by day.
Let’s discuss the types of cryptocurrency in the world as of this year 2020.
Bitcoin is one of the types of cryptocurrency. Bitcoin was initially released in the year 2009. It was founded by Satoshi Nakamoto. The symbol for bitcoin is ‘BTC’ .this bitcoin made the whole world to turn towards a new platform called cryptocurrency which is considered an alternative for money.
Bitcoin is the pioneer of a new innovative alternate for money. This bitcoin paved the pathway for the cryptocurrency platform in the global platform of investors. When we narrow the discussion about best cryptocurrency to invest in, Bitcoin always stands first especially in the year 2020.
That’s because it is the most used type of cryptocurrency to date. This is why it is called ‘King of Currencies’. Its main goal is to reach globally and it is also one of the most stable currencies despite its buoyancy.
Enormous computing power is being used to verify all the bitcoin transactions. The demand for bitcoin is expected to rise rapidly in the upcoming years. If you invest in bitcoin today it will return to you at three times greater profit.
Eventually, we will have no trouble in buying and selling bitcoins in the years to come. That’s how it is said to be one of the safest currencies in the global market. This is the first cryptocurrency to get featured by P2P technology *(peer to peer).
Bitcoin because of its huge popularity triggered various type of virtual currencies which is referred to as Altcoins
Litecoin is one of the types of cryptocurrency. Litecoin was initially released in the year 2011. The symbol of litecoin is ‘L’. This is also featured by P2P technology (peer to peer). This litecoin provides instant zero cost payment throughout the world.
One of the main reasons to invest in a lit coin is because of its high liquidity. Litecoin has got a large market comparatively. But there is an only limited supply of LTC when compared to bitcoin with a block reward of 25 bitcoins.
Even coin base experts believe that the bitcoin market will surely remain strong even whatever happens in the global market of cryptocurrencies. Litecoin has a strong stand among its competitors and one of the most used cryptocurrencies standing next to the bitcoin, It is also one of the best cryptocurrency to invest in.
Etereum is one of the types of cryptocurrency. Etereum was first launched in the year 2015. Investing in ethereum must not turn wrong in this 2020 global economy market. This is the reason ethereum still stands among the top 10 cryptocurrencies.
This there has got a strong loyal team to trust upon which helps it a lot maintaining its stable market value. It is a golden fuel for dApp ecosystem which includes lots of developers & companies as a support for their application launches & other smart contracts.
Thus there always remain in a favourable condition when selling it. It is not only just an investing platform but also a programming language Turing complete which runs in blockchain making it an OS (operating system).
Its biggest breakthrough projects are in a partnership with ConsenSys (Microsoft’s partner). In the year ethereum made a pre-sale which gained an overwhelming response from the investor
BAT-Basic Attention Token
Basic Attention Token is one of the types of cryptocurrency.This is one of the hottest cryptocurrencies for the past three years including the year 2020. This Basic Attention Token is also used in tipping content creators and also to anyone virtually that we find helpful on the internet.
This BAT is being used by the Brave browser as this had a lot of potential in the web-browser industry. The brain behind this Basic Attention Token (BAT) is Brendan Eich, (co-founder) Mozilla firefox & co-creator of Java script.
So we can bet that this BAT (Basic Attention Token) has a bright future ahead. When all other coins were collapsing, This Basic Attention Token (BAT) remains consistent which are a surprise to even coin base experts.
The demand for BAT is expected to increase rapidly which is likely leads to a rise in the price valuation of the token
NEM (New Economy Movement)
New Economy Movement is one of the types of cryptocurrency.NEM is launched in March 2015. It is completely written in C,C++ & java . The symbol of NEM is ‘XEM’. This NEM is a different cryptocurrency when compared to other cryptocurrencies. Many young investors are allured by this NEM.
Comparatively, NEM has fast transaction speed and also it has a low transaction cost comparatively. One of the benefits of NEM is it uses a hundred times less power when compared to Bitcoin.
This NEM also remains a greater platform for building various applications. The brain behind this NEM strongly believes that it can create a revolution in various fields like Game data, loans, royalties, smart contracts and also in launch of ICOs. This NEM is a strong venture to grow with.
NEO is one of the types of cryptocurrency.NEO is initially launched as Antshares in the year 2014 by Mr Da HongFei & Erik Zhang. Later it was rebranded as NEO. This NEO is a china based ethereum.
This NEO also stands as a smart platform with tons of potential. This NEO is bolstered by ‘delegated Byzantine fault-tolerant system’. It is quite sophisticated which utilizes an improved proof of tech stake.
This NEO is considered as a valuable liquid asset to own. The founders of this NEO are very experienced & most trusted among the community of cryptocurrencies which boosts the credibility & value of this NEO further.
The value of NEO is drastically gaining momentum and started rising upwards. The main thing which investors found appealing is the similarities between ethereum and NEO.
BNB – Binance Coin
Binance coin is one of the types of cryptocurrency.Binance was founded in the year 2017. It is originally an exchange based token currency which is used in the payment of travel expenses, Air tickets and even virtual gifts.
This BNB is one of the best among the cryptocurrencies. This company owning Binance has a concrete business history and also the team behind this BNB makes this a utility friendly in the global market for cryptocurrencies. This BNB is one among the top 10 coin market cap. The volume of the BNB shows consistent growth as well.
Even its exchange is one among the fastest growing cryptocurrency exchanges. It is featured by Blockchain & P2P technology (peer to peer). Any transaction can be done using BNB when it comes in terms of volume of trading. So everyone can think about this BNB as an option when you decide to invest your money in cryptocurrency
Tron is one of the types of cryptocurrency.TRON was founded in September 2017 by Singapore evolved Non-Profitable Organization. CEO of TRON is Justin Sun. This TRON has acquired Bit Torrent a couple of years ago, that’s the reason we add TRON into this top list of cryptocurrencies.
This TRON is also considered as a progressive initiative lined up in the next years to come. Another vital reason for TRON being here among this top list is because Tronix/TRX (which is a cryptocurrency name used in Tron network) which is one among the ERC-20 tokens which made it successfully to the main net.
Even its blockchain is live & running. This TRON has got more than 300,000 accounts which are comparatively lesser than its cryptocurrency competitors but still, its growth is pretty impressive. Even content consumers are using Tronix for paying content creators in accessing the original materials.
It was ranked 15th among the list of the largest market of cryptocurrency capitalization. Undoubtedly TRX will play as an altcoin in upcoming future.
EOS is one of the types of cryptocurrency. A lot of people have already started considering EON as a replacement for Ethereum. It is a multi platform-based operating system which is still under development.
Even coin base experts started addressing the flaws of Ethereum. This EOS has started breaking all the barriers of ethereum. Even some advantages of EOS are being praised by cryptocurrency investors.
It is not featured by blockchain like its other competitor cryptocurrencies. No gas fees are required for using this network. This EOS has 21 gatekeepers to approve transactions.
Another vital reason for that EOS attracts investors because of its huge and dynamic community. EOS has completed a profitable token sale and gained its capital which is needed to develop to its fullest in the years to come.
Ripple is one of the types of cryptocurrency. Ripple is initially released in the year 2012 and later stabilized and re-released in the year 2018. Ripple is in 3rd place when it comes to market capitalization. Ripple is not featured by Blockchain like its competitor cryptocurrencies.
The ideologies and concept of Ripples are dissimilar when compared to other cryptocurrencies. This Ripple is a startup venture which provides financial-based settlement services to various banks allowing them to make direct transactions even across the country borders.
Ripple is also acquainted with many financial based institutions rather than individuals. This ripple has got a partner with various esteemed banks and finance based intuitions which are ready to accept Ripple protocol.
Undoubtedly ripple is going to explode in this 2020 and also in the coming up years because of its banks and financial institutional support and it is safer from SEC regulation.
Dash coin is one of the types of cryptocurrency. This dash coin is initially launched in the year 2014 by its founder Evan Duffield. It is derived from lite coin initially.
In the beginning, it is called Dark coin but later rebranded in the name of Dash in the year 2015. This Dash coin consists of master codes which makes it special and even helps to increase the speed of its transaction.
It is currently ranked as 12th under the ranks of cryptocurrencies. It has an initial market capitalization of around 2.4 billion. Higher Privacy & higher transaction speed gained popularity in the global market of investors
Kyber Network is one of the types of cryptocurrency. This kyber network is a Singapore based network. The official symbol for kyber network is KNC. It is a new type of cryptocurrency which enables conversion & exchange of assets in digital forms.
It can provide us with DGD tokens in a single form of transaction. The most viable thing about this kyber network is it does not need any deposit or registration. Once you are included in block chain no confirmation is required for each and every transaction.
This kyber network does not require a special form of trust to invest in it. This makes an exchange of tokens instant and secure.
Ox is one of the types of cryptocurrency. This Ox is another form of novel trading which is also termed as decentralized trading which is gaining popularity in recent years. Eventually, this Ox platform is said that it is not sustainable.
This Ox is based on the Linux operating system which makes it an open-source OS and it can be downloaded at free of cost. This Ox commonly uses smart contracts over the infrastructure combining two specific strategies like ‘state channel & AMM (Automated market marker). This Ox had variable security and quality which makes it unique.
TTN is one of the types of cryptocurrency.TTN the other name is called as Titan coin. This titan describes itself as a legend of cryptocurrencies and a form of digital currency by enabling instant as well as cross border transactions.
Like its competitor cryptocurrencies, this is also featured by P2P (peer to peer technology). The current value of titan coin is 0.01 USD as of today’s market value which makes it unstable and not sustainable in this global market for investors.
The highest value ever reached by titan coin is 0.03 USD. This TTN coin enables 3rd party service to develop apps safely in titan owned secured blockchain.
ICON is one of the types of cryptocurrency. This ICON is a South Korean based cryptocurrency platform which hyper connects the world.
This ICON is launched in September of the year 2018 making it just nine months old cryptocurrency. The short term of ICON is ICX. This is said to be one of the largest blockchain projects which released BIP (blockchain interpretability protocol).
This ICON also enables direct transactions with smart contracts. It is primarily connected through message relayers. It recently released its latest consensus algorithm by improvising the scalability & bandwidth maintaining its security consistently as reported by coin telegraph. This ICON is based on interoperability protocol.
Hereby we came to know everything about cryptocurrency and the types of cryptocurrency. But on the other side, this has many flaws too, but which is rectify able when people starting trusting this altcoin.
For now, this cryptocurrency is in the infant stage but soon it will achieve its adultery stage which can be possible only by through pure trust if the investors in the global market.
Many developed Nations are already into this platform of cryptocurrency. As a developing nation like us, this platform of cryptocurrency is going to make our economy flourish towards sky-high. Everything is getting into digital nowadays then why not the money.
To learn about cryptocurrency, in brief, types of cryptocurrency and how to invest learn through some good courses
Photo by Dmitry Demidko