Bitcoin is a cryptocurrency that has been around for more than 10 years, but it’s far from the only one. Hundreds of other digital currencies are out there, and new ones appear on the market daily. Some coins try improving on bitcoin’s features, while others pursue different use cases. If you are an investor, you should try the bitql platform, the best way to trade in cryptocurrency. Here we’ll explain what some popular cryptocurrencies are all about:
Facebook’s cryptocurrency is called Libra.
Libra has been in the works since 2017, and it’s set to launch in 2020. The cryptocurrency will be run by a consortium of companies called the Libra Association, which includes big names like Visa and PayPal.
The benefit of using Libra as a currency is that it will have low transaction fees for sending money overseas or paying for things online: just 1% per transaction (compared to 3% with some other cryptocurrencies. It also helps bring more people into the digital economy by providing an easy way to access their funds via Facebook Messenger or WhatsApp.
You have no privacy when using Libra. All transactions are recorded on a public ledger that anyone can access, and this could open you up to identity theft if someone steals your username or password. And while they claim they won’t be tracking what people buy with their tokens, there’s always the potential for misuse if laws change later on.
Tether is a controversial cryptocurrency backed by the US dollar.
Tether is another controversial cryptocurrency backed by the US dollar. Unlike other cryptocurrencies, Tether claims a one-to-one relationship between its tokens and real US dollars, meaning that every token issued by Tether is backed by an actual US dollar stored in their bank accounts. While this idea sounds good on paper, it has been called into question since some of their bank accounts have been hacked and drained of funds.
In addition to this controversy, many investors are sceptical about how much money they have in their vaults because the company does not provide transparency around its finances or audits, which most other crypto companies do regularly.
Dogecoin, which started as a joke, has gained popularity and value.
Dogecoin, which started as a joke, has gained popularity and value. Dogecoin is a cryptocurrency based on a meme. The Shiba Inu dog from the “Doge” image macro series. Billy Markus and Jackson Palmer created it to poke fun at the overhyped initial coin offerings (ICOs) and Bitcoin.
The founders launched their own ICO in December 2013, with an initial 100 billion Dogecoins mined during its first year of existence. The following year, they added 5 billion more coins per month until over 100 trillion total Doges were in circulation at one point. During this period, there was so much hype around it that people invested in Dogecoin just because they wanted to buy things or pay for services.
NEM is a cryptocurrency meant to help businesses use blockchains more efficiently.
NEM is a cryptocurrency meant to help businesses use blockchains more efficiently. It’s a blockchain platform and cryptocurrency launched in 2015. The main difference with other coins is that it doesn’t require mining. Instead, NEM uses “harvesting,” where users can earn “XEM.” The coin’s ticker symbol by running software that connects their computers to the network and processes transactions for them which sounds like it could get pretty dull.
NEM has been used in banking, logistics, and supply chain management services. However, its overall market cap is still relatively small compared with other cryptocurrencies like Bitcoin or Ripple, which each have more than $30 billion worth of market capitalization.
Conclusion
It’s easy to get caught up in the world of bitcoin and Ethereum, but there are tons of other cryptocurrencies out there that you can invest in. There are also a few new ones coming out every year that have different purposes and advantages over others. In this article, we looked at some of the most popular ones, including Facebook’s Libra cryptocurrency as well as some that might be worth keeping an eye on (like Dogecoin). Even if you don’t plan on buying any crypto anytime soon, learning about these new technologies can still be fun!
