Today, cryptocurrencies are multifunctional. They let you buy everything, pay for services, and even deposit at an online casino Philippines. But which token to choose? Here are the most reliable offers.
Bitcoin (BTC) is the most popular cryptocurrency worldwide. It was created in early 2009 by a man (or group of men) hiding under the pseudonym Satoshi Nakamoto. Bitcoin is built on a technology called blockchain. It’s a virtual, decentralized network that can record transactions in real time. Acting like a digital ledger, blockchain connects users around the world and verifies financial transactions.
There cannot be over 21 million Bitcoins, a feature that lies at the heart of cryptocurrency. While regular money is printed on machines, Bitcoins can be “mined” by anyone. It’s only necessary to download special software, which will start the calculation process. Bitcoins appear as a result of mathematical operations, gradually.
Ethereum is the second most popular asset in the world, created in 2015 by Vitalik Buterin. The main difference between Ethereum and Bitcoin is the ability not only to transfer money but also to create smart contracts, that is, to tie a transaction to the fulfillment of certain conditions. This technology could potentially be widely used in finance, management, auditing, and logistics.
Unlike Bitcoin, Ethereum is not just a means of savings. There are many decentralized applications based on Ethereum. You can use them to create your own applications and offer financial services based on cryptocurrencies: exchange, credit, betting, trading, fundraising. Buterin calls his platform “the new Internet. ETH cryptocurrency is the “fuel” of this network, which increases the demand for the asset.
Binance Coin (BNB)
Binance Coin is a token originally designed to trade and pay fees on Binance, one of the largest cryptocurrency exchanges in the world. The coin allowed for discounts on transaction fees, withdrawals, and other transactions.
Since its launch in 2017, Binance Coin’s capabilities have expanded significantly – it’s now even used to book travel. The token can also be exchanged for other cryptocurrencies, such as Ethereum or Bitcoin.
USD Coin (USDC)
USD Coin (USDC) is another stablecoin created by Center, which is supported by the cryptocurrency exchange Coinbase and fintech company Circle. The main goal of the project was to create a token that would protect traders and investors from asset losses. As in the case of Tether, this is achieved by tying it to the dollar. USDC runs on Ethereum, USD Coin can be used for global transactions.