What is cryptocurrency?
A cryptocurrency, crypto-currency, or
crypto is a digital currency designed to work as a
medium of exchange through a computer network that is not reliant on any
central authority, such as a government or bank, to uphold or maintain
it. It is a decentralized system for verifying that the parties to a
transaction have the money they claim to have, eliminating the need for
traditional intermediaries, such as banks, when funds are being
transferred between two entities.
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what is shitcoin?
The term shitcoin refers to a cryptocurrency with little to no value
or a digital currency that has no immediate, discernible purpose. The
word is a pejorative term often used to describe altcoins or
cryptocurrencies that were developed after bitcoins became popular.
The diminished value of a shitcoin is often due to failed investor
interest because it was not created in good faith or because its price
was based on speculation. As such, these currencies are considered to
be bad investments.
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What is stablecoin?
Stablecoins are cryptocurrencies whose value is pegged, or tied, to
that of another currency, commodity, or financial instrument.
Stablecoins aim to provide an alternative to the high volatility of
the most popular cryptocurrencies, including Bitcoin (BTC), which has
made crypto investments less suitable for common transactions.
Learn more about stablecoin
Top 10 Cryptocurrencies
Bitcoin (BTC)
Bitcoin is a decentralized cryptocurrency originally described in a
2008 whitepaper by a person, or group of people, using the alias
Satoshi Nakamoto. It was launched soon after, in January 2009. Bitcoin
is a peer-to-peer online currency, meaning that all transactions
happen directly between equal, independent network participants,
without the need for any intermediary to permit or facilitate them.
Some concepts for a similar type of a decentralized electronic
currency precede BTC, but Bitcoin holds the distinction of being the
first-ever cryptocurrency to come into actual use.
Learn more about Bitcoin
Ethereum (ETH)
Ethereum is a decentralized open-source blockchain system that
features its own cryptocurrency, Ether. ETH works as a platform for
numerous other cryptocurrencies, as well as for the execution of
decentralized smart contracts. Ethereum was first described in a 2013
whitepaper by Vitalik Buterin. Buterin, along with other co-founders,
secured funding for the project in an online public crowd sale in the
summer of 2014. Ethereum’s own purported goal is to become a global
platform for decentralized applications, allowing users from all over
the world to write and run software that is resistant to censorship,
downtime and fraud.
Learn more about Ethereum
Tether (USDT)
USDT is a stablecoin (stable-value cryptocurrency) that mirrors the
price of the U.S. dollar, issued by a Hong Kong-based company Tether.
The token's peg to the USD is achieved via maintaining a sum of
commercial paper, fiduciary deposits, cash, reserve repo notes, and
treasury bills in reserves that is equal in USD value to the number of
USDT in circulation. The stated purpose of USDT is to combine the
unrestricted nature of cryptocurrencies — which can be sent between
users without a trusted third-party intermediary — with the stable
value of the US dollar.
Learn more about Tether
Binance Coin (BNB)
Launched in July 2017, Binance is the biggest cryptocurrency exchange
globally based on daily trading volume. Aside from being the largest
cryptocurrency exchange globally, Binance has launched a whole
ecosystem of functionalities for its users. The Binance network
includes the Binance Chain, Binance Smart Chain, Binance Academy,
Trust Wallet and Research projects, which all employ the powers of
blockchain technology to bring new-age finance to the world. BNB is an
integral part of the successful functioning of many of the Binance
sub-projects.
Learn more about Binance Coin
US Dollar Coin (USDC)
USD Coin (known by its ticker USDC) is a stablecoin that is pegged to
the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in
circulation is backed up by $1 that is held in reserve, in a mix of
cash and short-term U.S. Treasury bonds. The Centre consortium, which
is behind this asset, says USDC is issued by regulated financial
institutions. The stablecoin originally launched on a limited basis in
September 2018. Put simply, USD Coin's mantra is “digital money for
the digital age” — and the stablecoin is designed for a world where
cashless transactions are becoming more common.
Learn more about US Dollar Coin
XRP (XRP)
Launched in 2021, the XRP Ledger (XRPL) is an open-source,
permissionless and decentralized technology. Benefits of the XRP
Ledger include its low-cost ($0.0002 to transact), speed (settling
transactions in 3-5 seconds), scalability (1,500 transactions per
second) and inherently green attributes (carbon-neutral and
energy-efficient).
Learn more about XRP
Binance USD (BUSD)
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance
(in partnership with Paxos), Approved and regulated by the New York
State Department of Financial Services (NYDFS), The BUSD Monthly Audit
Report can be viewed from the official website. Launched on 5 Sep
2019, BUSD aims to meld the stability of the dollar with blockchain
technology. It is a digital fiat currency, issued as ERC-20 and
supports BEP-2.
Learn more about Binance USD
Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that says its goal is
to allow “changemakers, innovators and visionaries” to bring about
positive global change. The open-source project also aims to
“redistribute power from unaccountable structures to the margins to
individuals” — helping to create a society that is more secure,
transparent and fair. Cardano was founded back in 2017, and named
after the 16th century Italian polymath Gerolamo Cardano. The native
ADA token takes its name from the 19th century mathematician Ada
Lovelace, widely regarded as the world’s first computer programmer.
The ADA token is designed to ensure that owners can participate in the
operation of the network. Because of this, those who hold the
cryptocurrency have the right to vote on any proposed changes to the
software.
Learn more about Cardano
Dogecoin (DOGE)
Dogecoin (DOGE) is based on the popular "doge" Internet meme and
features a Shiba Inu on its logo. The open-source digital currency was
created by Billy Markus from Portland, Oregon and Jackson Palmer from
Sydney, Australia, and was forked from Litecoin in December 2013.
Dogecoin's creators envisaged it as a fun, light-hearted
cryptocurrency that would have greater appeal beyond the core Bitcoin
audience, since it was based on a dog meme. Tesla CEO Elon Musk posted
several tweets on social media that Dogecoin is his favorite coin.
Learn more about Dogecoin
Polygon (MATIC)
Polygon is a cryptocurrency, with the symbol MATIC, and also a
technology platform that enables blockchain networks to connect and
scale. Polygon—"Ethereum's internet of blockchains"— launched under
the name Matic Network in 2017. The Polygon platform operates using
the Ethereum blockchain and connects Ethereum-based projects. Using
the Polygon platform can increase the flexibility, scalability, and
sovereignty of a blockchain project while still affording the
security, interoperability, and structural benefits of the Ethereum
blockchain. MATIC is an ERC-20 token, meaning that it's compatible
with other Ethereum-based digital currencies. MATIC is used to govern
and secure the Polygon network and to pay network transaction fees.
Learn more about Polygon
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