What are the Popular Cryptocurrencies?
Some popular cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Stellar (XLM).
Bitcoin is the first cryptocurrency, as well as the first application of blockchain technology. Bitcoin’s objective is to replace traditional banking by eliminating intermediaries and the trust placed on centralized financial institutions.
Ethereum offers programmable contracts that are executed when a transaction is sent to it. It replaces the intermediaries with coded contracts (aka “smart contracts”). Ethereum is also an open source blockchain and is the second largest cryptocurrency after Bitcoin.
USD Coin (USDC)
USD Coin is a “stablecoin” whose aim is to maintain a value of $1.00 and to build a bridge between fiat currencies and cryptocurrencies. USD Coin seeks to offer minimal transaction costs, stability, and transparency for its users.
Stellar is an open-source network for currencies and payments that seeks to enable the trading of any kind of money in a transparent and efficient way.
CrossTower Inc. provides this content for general information purposes, to better inform you on your digital asset investment journey. We do not provide investment recommendations or provide tax advice. Please consult your investment professional or tax advisor if you require assistance in these areas.