Main cryptocurrencies on the market
Posted: Tue Jan 21, 2025 6:25 am
International transfers : Cryptocurrencies allow money to be sent quickly and cheaply worldwide, without going through banking intermediaries, which is especially beneficial in countries where remittances represent a significant part of the economy.
Smart Contracts : Ethereum introduced smart contracts , self-executing programs that are triggered when certain conditions are met. This enables decentralized applications (dApps) and decentralized finance (DeFi) projects, where lending, trading, and more can be done without the need for intermediaries.
Utility and governance tokens : These are cryptocurrencies that grant usage rights in certain applications or projects, or that allow their holders to vote on decisions that affect the project. These types of tokens are common in DeFi projects and decentralized autonomous organizations (DAOs).
There are thousands of digital currencies in the world of cryptocurrencies, but some have gained special relevance:
Bitcoin (BTC) : It is the first and most valuable cryptocurrency. Its value comes from its scarcity and popularity as a store of value.
Ethereum (ETH) : It is the second in market capitalization and stands out for its platform for smart contracts and decentralized applications.
Tether (USDT) : It is a stablecoin, whose value is linked kuwait whatsapp data to the US dollar, which reduces its volatility and makes it useful for daily transactions and as a refuge in times of instability.
Binance Coin (BNB) : Originating from the Binance exchange, this cryptocurrency is used to reduce transaction fees within the platform and in other projects in the Binance ecosystem.
Cardano (ADA) : Its technology is geared towards smart contracts and decentralized applications, with a focus on scalability and sustainability.
Room where several people are in front of a screen looking at financial graphs
Types of cryptocurrencies: What are the differences?
As we have said, there are several types of cryptocurrencies , each with different purposes and functionalities:
Traditional cryptocurrencies : Such as Bitcoin and Litecoin, designed to function as a means of payment and store of value.
Stablecoins : Digital currencies whose value is tied to a fiat currency, such as the dollar, or to a physical asset. Examples include Tether (USDT) and USD Coin (USDC). These currencies seek to minimize volatility and are useful for making transactions without worrying about fluctuations in value.
Utility tokens : These are cryptocurrencies that grant access to certain services or applications within a platform. For example, Binance Coin (BNB) allows Binance users to access reduced fees on their transactions.
Governance tokens : These allow users to vote on decisions within a project. These tokens are common in decentralized finance (DeFi) applications and DAOs. Governance token holders participate in key decisions such as the allocation of funds or changes to the fee structure.
NFTs (Non-Fungible Tokens) : These are unique tokens that represent ownership of a specific digital asset, such as art, music, or virtual real estate. NFTs are stored on blockchains such as Ethereum, and have become popular in the digital collectibles market.
Smart Contracts : Ethereum introduced smart contracts , self-executing programs that are triggered when certain conditions are met. This enables decentralized applications (dApps) and decentralized finance (DeFi) projects, where lending, trading, and more can be done without the need for intermediaries.
Utility and governance tokens : These are cryptocurrencies that grant usage rights in certain applications or projects, or that allow their holders to vote on decisions that affect the project. These types of tokens are common in DeFi projects and decentralized autonomous organizations (DAOs).
There are thousands of digital currencies in the world of cryptocurrencies, but some have gained special relevance:
Bitcoin (BTC) : It is the first and most valuable cryptocurrency. Its value comes from its scarcity and popularity as a store of value.
Ethereum (ETH) : It is the second in market capitalization and stands out for its platform for smart contracts and decentralized applications.
Tether (USDT) : It is a stablecoin, whose value is linked kuwait whatsapp data to the US dollar, which reduces its volatility and makes it useful for daily transactions and as a refuge in times of instability.
Binance Coin (BNB) : Originating from the Binance exchange, this cryptocurrency is used to reduce transaction fees within the platform and in other projects in the Binance ecosystem.
Cardano (ADA) : Its technology is geared towards smart contracts and decentralized applications, with a focus on scalability and sustainability.
Room where several people are in front of a screen looking at financial graphs
Types of cryptocurrencies: What are the differences?
As we have said, there are several types of cryptocurrencies , each with different purposes and functionalities:
Traditional cryptocurrencies : Such as Bitcoin and Litecoin, designed to function as a means of payment and store of value.
Stablecoins : Digital currencies whose value is tied to a fiat currency, such as the dollar, or to a physical asset. Examples include Tether (USDT) and USD Coin (USDC). These currencies seek to minimize volatility and are useful for making transactions without worrying about fluctuations in value.
Utility tokens : These are cryptocurrencies that grant access to certain services or applications within a platform. For example, Binance Coin (BNB) allows Binance users to access reduced fees on their transactions.
Governance tokens : These allow users to vote on decisions within a project. These tokens are common in decentralized finance (DeFi) applications and DAOs. Governance token holders participate in key decisions such as the allocation of funds or changes to the fee structure.
NFTs (Non-Fungible Tokens) : These are unique tokens that represent ownership of a specific digital asset, such as art, music, or virtual real estate. NFTs are stored on blockchains such as Ethereum, and have become popular in the digital collectibles market.