What Are the Most Known Types of Cryptocurrencies?

Cryptocurrencies are not connected to any center and are produced in computer environment by special techniques. Unlike currencies circulating in the economy, cryptocurrencies that do not require printing are also valued differently from currencies circulating. Currencies in circulation may vary depending on the socio-economic situation of the country, but the value of cryptocurrencies is determined according to the demand for them. The state that determines inflation by increasing the amount of money in circulation cannot intervene in decentralized cryptocurrencies.

Like circulating currencies, cryptocurrencies have different types and vary according to their value. The most valuable cryptocurrencies are Bitcoin, which entered the virtual market in 2009. Bitcoin is the most expensive type of cryptocurrency compared to other types of cryptocurrencies and is the most frequently preferred cryptocurrency due to its constant change in value. This cryptocurrency is produced by miners in the role of Bitcoin producers, but can also be purchased from sites operating in this area.

Ethereum, Litecoin, Ripple

Another type of cryptocurrency popular coin is Ethereum. Known as Bitcoin’s only serious rival, Ethereum is a decentralized cryptocurrency like Bitcoin. Private software produced by Ethereum has brought thousands of new altcoins to the cryptocurrency market. So much so that it was defined as “cryptofuel” by its founder.

Litecoin, which offers a fairly large storage facility and can be quickly transferred, emerged in 2011. Ripple stands out because the global payment network works quite quickly and is usually cheaper than other types of cryptocurrencies. Carrying out smooth money transfers to all regions, Ripple attracts attention as a type of cryptocurrency used by many banks.

Dash and ZCASH

Another of the most known types of cryptocurrencies is Dash. This cryptocurrency, which is Bitcoin’s altcoin unit, has been in existence since 2014. Dash, who earned a lot of people a lot of money with the rise he experienced in 2017, became most famous by providing a high level of user privacy. Dash is also a cryptocurrency designed for Bitcoin’s privacy.

Another altcoin ZCASH, which is frequently included in the preferences of cryptocurrency investors, is relatively more valuable than other altcoins. Due to its importance to information privacy, it is accepted as an ideal option for investors who prioritize anonymity.

Cardano, Tether, Bitcoin Cash, EOS

Cardano, which appeared on the cryptocurrency scene in 2015, is a cryptocurrency executed with different protocols than the others. With Cardano, which has a separate virtual wallet and card, money can be sent from the wallet to the card and the money on the card can be automatically converted into the currency used by the user.

Tether, who met with investors in the same year, was known for being indexed to dollars. While Tether does not charge transfer fee when transferred between wallets in its own unit, fee is charged when transferred to different units. This digital money, seen as the dollar of the cryptocurrency market, is a good alternative for investors to easily convert their money.

Bitcoin Cash is a cryptocurrency that is a continuation of Bitcoin. Bitcoin Cash, which said “hello” in 2017, became the owner of the same amount of Bitcoin Cash as soon as it entered the market. However, this cryptocurrency, whose value dropped suddenly with the sudden desire to sell Bitcoin Cash, left Bitcoin and became a different unit in order not to decrease its value. Bitcoin cash is central independent, just like Bitcoin, and is a type of cryptocurrency that facilitates bilateral transfers.

EOS, another decentralized cryptocurrency, sees storage as its main destination. Meeting cryptocurrency investors in 2017, EOS gained an important position as a whole of systems operating in block production rather than mining.