Many investors consider bitcoin to be the original cryptocurrency.
Founded in 2009 by Satoshi Nakamoto, bitcoin ushered in a new age of blockchain technology and decentralized digital currencies.
So bitcoin reigns as No#1
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin’s original reference implementation….. Many people have claimed, or have been claimed, to be Nakamoto. So no one really knows if it was a single person or a group..
But “Satoshi” holds 1,000,000 Bitcoin. So @ the Current price per BTC,
He’s or They are doing well…
Either it is a BITCOIN or an ALTCOIN..
What are Altcoins?
Altcoins are any other cryptocurrency that are not Bitcoin. (easy enough description)
These coins were created after Bitcoin and often present themselves as better alternatives to the premier cryptocurrency.
Each altcoin has it’s own Platform and uses Blockchain technology
Most all altcoins excluding a few use blockchain technology.
And with the billions of humans in existence, Altcoins are a positive part of the future since there is a capped amount of minable Bitcoin.
There will only be 21 million Bitcoin to go around…
Now it doesn’t mean bitcoin is unattainable, it just means a single bitcoin’s worth will only rise as the cap grows closer and ends.
It just makes Altcoins the next best thing.
The category system of crypto:
As the name suggests, these assets are mainly for payments and are hence called Payment Currencies.
For example, you could use payment currencies to pay for goods or services, pay your bills, cash out from digital currencies to local fiat currencies like the dollar, etc.
While every digital asset can be used to pay for things, it is more widespread for Payment Currencies.
Some good examples are Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and others.
Blockchain Economies, also known as blockchain platforms, take the functionality of blockchain technology further than just payments.
These platforms allow you to create your own digital assets (usually referred to as tokens), decentralized applications (Dapps), etc. on their platform. Therefore, blockchain platforms become their own “Blockchain Economies” with different assets, applications, and more.
A popular Blockchain Economy is (ETH), Ethereum
Utility tokens are digital tokens that are used for a blockchain-based product or service. They run on a blockchain platform, or in other words, are part of a Blockchain Economy. Most utility tokens are ERC20 tokens that run on the Ethereum blockchain but with the continued release of other blockchain platforms. Other token types like TRC10 and TRC20 tokens have emerged as well.
Some Utility Tokens include Basic Attention Token (BAT), Civic (CVC), OmiseGo (OMG), and 0x (ZRX).
These assets are very popular among regular traders, as they always have the same price (or aim to), unlike other digital assets, which can fluctuate greatly in value. For example, if a trader thinks that an asset is going to lose value soon, they could sell the asset for a stablecoin to prevent financial loss.
Different stablecoins follow different methods to maintain a stable price. For an in-depth explanation of how stablecoins work, check out this stablecoin guide.
Examples of Stablecoins include USD Coin (USDC), Paxos (PAX), Gemini (GUSD), TrueUSD (TUSD), Tether (USDT), Dai (DAI), etc.
TO SEE WHAT CURRENT CRYPTOCURRENCIES ARE OUT THERE:
These sites are 2 of many… So again, personal choice.
They list current cryptocurrencies in circulation, price charts(in real time), the crypto’s main page links, and the exchanges to get them.
Platforms that help aggregate data from the cryptocurrency markets are crucial sources of information and data on the movement of prices, state of the market, trading volumes, market capitalization of assets, listed coins, and trading pairs.
And these 2 also offer a fun in-site daily reward you can exchange for some cool things. Books about crypto or some cool swaag like hats and shirts. stuff.
CoinGecko offers candies & CoinMarcketCap gives you diamonds.
Check them out, no cost whatsoever..
When new cryptos emerge, as well as already circulating ones,
They all want you to want their crypto.
Newly created cryptos sometimes offer Airdrops. to promote the new crypto.
As always.. Not everything survives.
Some crypto created eventually dies for numerous reasons.
Development, Availability, and Utility are a few ways.
And of course, there are those that abuse this technology and create fake cryptocurrencies.