Types Of Cryptocurrency: Know Here

There are various types of cryptocurrencies and bitcoin is considered to be the first one created.

Here are the lists of various types of cryptocurrencies.

1. Bitcoin

The first decentralised cryptocurrency which used blockchain technology to facilitate payments and digital transactions is known as Bitcoin. In the history of Bitcoin, the Bitcoin’s blockchain is like a public ledger of all transactions.

2. Dogecoin

Dogecoin was created as a joke poking fun but it reached the heights with the support from the Tesla CEO, Elon Musk and investors along with Dallas Mavericks who is the owner of Mark Cuban.

3. Ether (Ethereum)

On the Ethereum network the token used to carry out the transaction is Ether. It uses blockchain technology to carry out the creation of smart contracts and decentralised applications. It was initially created to create, publish, monetise and use applications.

4. Binance Coin

The world’s largest cryptocurrency exchange is Binance Coin which was first built on the Ethereum blockchain, however, it now lives on its own platform. It was initially a utility token used by the traders to get discounts on the trading fees on Binance.

It is now used for payments, entertainment, to book travel, for financial services and more.

5. Tether

The first cryptocurrency which was marketed as a stablecoin is the Tether. Its value is pegged to that of fiat currency and it offers stability, transparency and lesser transaction charges to the users.

The investors who want to prevent high levels of volatility of the crypto market use Tether.

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Also Read: Confused Between Bitcoin And Crypto: Here’s All You Need To Know