Cryptocurrency is a trading medium that uses cryptographic principles to ensure trading security and control the creation of trading units. It is a form of digital currency, which is also called “virtual currency” by many people. Bitcoin became the first decentralized cryptocurrency in 2009, after which the term cryptocurrency mostly refers to such designs. There are many types of cryptocurrency, and this guide will give you an in-depth understanding of them. Of course, through this guide, you will also find some good virtual currency exchanges, such as CoinW cryptocurrency exchange, which is one of the few authoritative virtual currency trading platforms in the world, and a large number of virtual currency owners trade on CoinW every day.
Different types of cryptocurrency
Table of Contents
At present, there are more than 1300 kinds of encrypted virtual currencies in circulation all over the world. Up to now, according to the total valuation given by market prices, 23 virtual currencies have a valuation of more than US $1 billion, 97 have a value of more than US $100 million, and 573 have a market value of more than US $1 million. In a word, the total market value of virtual currency has exceeded 5 trillion dollars, of which Bitcoin, the earliest invention, accounts for more than half. It is generally acknowledged by players that Bitcoin may not be the most effective cryptocurrency, but it is the first known and therefore the most popular.
What are the types of cryptocurrency?
There are many types of cryptocurrencies, such as: Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Tether (USDT), Solana (SOL), XRP (XRP), Cardano (ADA), USD Coin (USDC), Ripple (XRP), Avalanche (AVAX). Today we will focus on sharing 4 popular types of cryptocurrency.
1. Bitcoin: Bitcoin was officially born on January 3, 2009. It is the earliest cryptocurrency in the world. The total number of Bitcoin is limited. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million. Bitcoin is a virtual currency with a limited number, but it can be used for cash: it can be exchanged into the currency of most countries. You can use Bitcoin to buy some virtual items, such as clothes, hats, equipment, etc. in online games. As long as people accept it, you can also use Bitcoin to buy real life items. Many Bitcoin owners will trade through CoinW cryptocurrency trading platform.
2. Monero: Monroe coins are cryptocurrencies that pay attention to privacy. The tradings on the Monroe coin blockchain are untraceable, which means that no one can see how much money is involved in a specific trading. This makes it a popular choice for those who want to keep their financial activities confidential.
3. Solana: SOL is the native currency of Solana platform. It runs on the blockchain system, just like Ethereum and Bitcoin. Solana’s network can execute up to 50000 tradings per second, which makes the platform particularly attractive to investors who want to trade quickly.
4. XRP: Ripple (XRP) is a blockchain based payment platform with its own cryptocurrency of the same name. XRP is considered as a way to promote international payment. XRP acts as a bridge between two different currencies to provide cheaper and faster global transfers. Its trading uses less energy than other tokens, and it is considered one of the most valuable currencies based on market value.
5. ETH: Ethereum is a cryptocurrency running on the Ethereum blockchain. Like Bitcoin, Ethercoin runs on its own blockchain – but unlike Bitcoin, Ethercoin has no upper limit, which means that an unlimited number of coins can be created in theory. Ethereum also supports smart contracts, which are programs running on the Ethereum blockchain and are automatically executed when certain conditions are met.
Thoughts
From the above introduction, you can find many popular types of cryptocurrencies. Of course, this is not important. Finding CoinW is your biggest gain. You can follow the price trend of virtual currencies in real time through CoinW, and purchase or sell cryptocurrencies through the platform. In addition, you do not need to consider security issues, because CoinW is a more authoritative platform.
