With so many types of digital currencies to consider, each designed for different functions, features or use cases, it can be intimidating to know where to start. These are some of the top digital currency examples that you must know:
1- Bitcoin (BTC) Bitcoin is the first digital currency and was created in 2009 by a now unknown person or group using the name Satoshi Nakamoto. It is the most famous and widely used cryptocurrency by market capitalization, a figure that exceeds any other.
Ethereum (ETH): Many people think Ethereum is only a cryptocurrency, its native digital currency called Ether. Ethereum has changed the game for how digital currencies are utilized beyond just a form of currency.
Ripple (XRP) Ripple is a digital currency and a payment protocol that is specifically designed for fast and low-cost international transactions. Ripple, unlike Bitcoin and Ethereum, does not use mining; it was pre-mined and a finite number of XRP tokens were created.
Tether (USDT): Tether is a type of stablecoin, meaning its value is tied to a fiat currency, specifically the USD. It is often used to reduce the volatility in other digital currencies.
Binance Coin (BNB): The Binance coin is the native currency of the Binance exchange. Traders can use it to pay on the platform, and it also provides access to other services within the Binance ecosystem.
There are many more digital coins out there, these are just a few. This is a very helpful guide to getting started in digital currencies since each type comes with its own advantages and disadvantages, and understanding those advantages and disadvantages can help you make the right investment or use decision.