Vicigers friends will understand that the world cryptocurrencies very large. Either way, there are more than 10,000 crypto assets available. Do you know what types of crypto coins are currently?
Maybe you already know the king of crypto assets, namely Bitcoins. Or, you may be familiar with Ethereum, Bitcoin's biggest imitator. However, there are other types of crypto coins with different names that you may not have heard of before.
Of course, crypto assets have different characteristics and other uses. Therefore, you need to recognize the classification of cryptocurrencies based on their value. Of course, you also have to understand this style.
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As the saying goes, if you don't know and don't need it, then it probably won't be enough if you don't fully understand the ins and outs of crypto assets.
Want to know about the current categorization of crypto coin types? Please read the reviews below, don't miss it!
List of Crypto Coin Types
Well, all cryptocurrencies in circulation are divided into several categories. These types are of course arranged based on use value (word use) and value.
Store of Value
Cryptocurrencies in this category are considered capable of maintaining human economic value more than money, even gold. This can be achieved because the nature of these crypto assets is similar to fiat money and the investment is very rare in this world. BTC example.
Digital Currencies
This type of cryptocurrency is designed to meet the needs of everyday businesses. Unlike cryptocurrencies which are classified as stock market, this digital currency is not focused on securing the long term purchasing power of its owner.
They have a lot of competition, namely digital transactions represented by two popular payment gateways, namely Mastercard and Visa. In fact, it seems difficult for digital currencies to compete with both. Litecoin example.
Utility Coins
Basically, these coins are a valuable currency to pay for products or services on a particular network. Often, these coins are used to maintain the trust of blockchain systems with smart contracts.
For example, Ethereum requires its users to pay an amount of Ether (ETH) to maintain the reliability of its network. Similarly, Polkadot also requires users to pay transaction fees to interact with smart contracts.
These types of cryptocurrencies will often launch initial coin offerings (ICOs) to raise initial funds to "warm up" their blockchain systems. Others, they will pay for the work and create a blockchain in the future.
Security Coins
Security Coins are digital representations of “real” assets in the real world, which are recorded in blockchain transactions. Part of this kind is subject to strong laws. Examples of USDC and USDT.
Also read: 5 Good Crypto Coins To Invest In 2022
Meme Coins
The existence of this unique piece of paper is certainly controversial. Because, as the name suggests, this work is a representation of a joke or meme that is spreading in cyberspace. For example, Dogecoin is a pioneer in this class of coins. This clip itself comes from a popular doge meme on the internet.
Also read: How to Transfer Crypto Assets from Indodax to Trust Wallet
In fact, this type of crypton coin works on its own blockchain. However, there are still many who doubt the benefits and basic benefits. Recently, the value of coin memes has increased due to its adoption on social media.
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