33 Cryptocurrencies Described in 33 Words Or Less

There is actually no one best cryptocurrency to buy and investing in cryptocurrency is risky, but investing in only one is way more risky.

A lot of cryptocurrencies have various use cases and they promise to disrupt in various industries. This is a great way to hedge the risk and increase the chances of being involved in the next out performance of cryptocurrencies.

Bitcoin:

Bitcoin which is the most widely used cryptocurrency till date and is often referred to as the king of the cryptocurrencies, and its primary goal is to act as a global, peer to peer and as digital cash.

  • Team: Bitcoin is the only cryptocurrency which has an anonymous founder. The creator of the Bitcoin is known as Satoshi Nakamoto. There is a lot of speculation going on about who he or she is, but ultimately, no one has a clue. On the other hand, its team actively update the Bitcoin’s open-sourced codebase which is ran by the top cryptographers in the space, such as the Adam Back.
  • Liquidity:  Bitcoin is known to have the highest liquidity in the space, which makes it the best cryptocurrency to buy for the beginners. They will have no trouble in buying or selling the Bitcoin as there will always be someone on the other end to match the order.
  • Price Volatility: Despite of its volatility, the Bitcoin is known to be one of the most stable crypto. It requires a lot of capital for someone or the hackers to manipulate the price.
  • Crypto Economics: The Bitcoin runs on a PoW known as Proof-of-Work system, which means the miners receive their block rewards in Bitcoin. Initially or in the early days the block reward was 50 BTC per block, but with every 210,000 blocks the reward gets halved, which means over the time its inflation decreases. Also, the supply of it is limited with only 21 million coins will be mined. As the demand increases, its price should rise substantially.

 Litecoin:

Litecoin is one of its first cryptocurrencies to come after the Bitcoin, and is one of the hottest cryptocurrencies in the decade too. Using the Bitcoin’s open source-code, it has changed to a fork of Bitcoin with some technical changes made to the code, by making it one of the fastest cryptocurrency. The mission of Litecoin is also to be a global and peer to peer currency.

  • Team: The creator of it is Charlie Lee who is an experienced computer scientist and also works at the Coinbase as Director of Engineer. His brother Bobby Lee has founded BTC China which is a large exchange.  Therefore, Charlie is both an experienced and well-connected entrepreneur.
  • Liquidity: Litecoin is very liquid one as it has the high liquidity and a large market cap since it was created.
  • Price Volatility: Litecoin is more reliable to hold when compared to the higher risk coins with the smaller market caps and their communities.
  • Crypto Economics: Litecoin has started with a 50 LTC block reward and now it is around 25 LTC. It has a limited supply of 84 million when compared to Bitcoin’s 21 million. Still, it is with a higher block reward and with the faster block time.

Ethereum:

Ethereum is the first major project to introduce the smart contracts, which allowed its developers to launch the mobile and desktop decentralized applications called as dApps on top of blockchain. The 1,000s of tokens which run on the Ethereum network and these tokens are what which spurred the initial coin offering called as the ICO movement.

  • Team: The Ethereum is founded by Vitalik Buterin, though he is young, but has proved to be the dedicated cryptocurrency expert. Joseph Lubin who is also known as the co-founder of Ethereum . He is also the co-founder of Consensys, which is a software production studio in the NY that is dedicated to creating the decentralized Ethereum applications.
  • Liquidity: The Ethereum is highly liquid, and is generally ranked #2 or #3 below the Bitcoin. Its users will have no problem in buying or selling the Ethereum.
  • Price Volatility: The Ethereum has a loyal community and team, which means its price, has a better chance to stand stable and increase in the long run.
  • Crypto Economics: There are more Ether which can exist as opposed to the Bitcoin and the Litecoin. But to add Ethereum actually fuels the dApp ecosystem which means millions of the developers and the companies may need Ether to fuel the smart contracts and launch their applications.

Binance Coin (BNB):

Unlike the Bitcoin and the Litecoin which aim to be used as the currencies, the Binance coin is a utility of token. This means its value comes from on how useful it is and how much demand there is for its utility, within the ecosystem of Binance.

  • Team: Changpen Zhao who is the CEO of Binance has given the success, where he and his team are achieving with Binance.  It is actually safe to say that they have the skills and resources to make the coin a success.
  • Liquidity: The Binance Coin is one of the most liquid cryptocurrency at present. It is ranked within the top 10 currencies on the Coinmarketcap, with its growing volume.
  • Price Volatility: Binance is pretty volatile, but also has a consistent growth. Its price is multiplied by x3 in the early 2019, during its bear market. It may continue to go up or may come back down, but its volatility is high.
  • Crypto Economics: 200,000,000 BNB were actually issued through an ICO at $0.10 per coin. The BNB offers trading fee with discounts to its users holding the BNB. The first year holding of BNB, users get a 50% discount, then 25% in the second year, 12.5% in the third year, 6.75% in the fourth year, and zero in the fifth and later. Binance will also use a 20% of its profits each quarter to buy back its BNB tokens and burn them till the amount of BNB has reduced to 100,000,000 or by half. Binance is also launching its own decentralized exchange called as Binance DEX which thereby should further increase the utility of BNB.

Basic Attention Token (BAT):

Basic Attention Token is also another utility token which is commonly utilized in the Brave Browser. The BAT token is used to tip the content creators or virtually anyone who can find it helpful on the internet. They can tip the content creators monthly, or choose to send a one-time payment for specific people.

Additionally, the users who watch the ads can also get rewarded in BAT. Using the smart contracts, the advertisers can lock up at BAT, and as the ads are viewed, the funds are released to both the Brave Browser and also the end viewer.

  • Team: The founder of it is Brendan Eich who has helped to create Javascript and is the co-founder of Mozilla Firefox. With these two wild credentials, we can bet that he understands the browser business and its technology.
  • Liquidity: The Liquidity of BAT always fluctuates, but it is generally well and seen within the top 40 most traded coins according to the Coinmarketcap.
  • Price Volatility: Surprisingly it was consistent in 2018 and 2019; the price seemed to remain within the same region while most of the other coins were collapsing. This can be a good sign of its healthy accumulation.
  • Crypto Economics: A total of 1.5 billion tokens exist today and were planned to stay this way. If the demand grows, then its price valuation of the token shall also go high.
33 Cryptocurrencies

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This infographic is inspired from TechCrunch.com

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