Types of Cryptocurrencies — 2

Exchange Coins

Binance BNB:

FTX

FTX is also one of the cryptocurrency exchanges provides ability to buy/sell cryptocurrencies. FTX also provide services such as staking, swapping of cryptocurrencies. FTX also have a NFT marketplace.

Huobi

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant.

Meme Tokens

Meme tokens are cryptocurrencies created out of humor or some incidents. Major ones are Doge and Shiba Inu coins.

Doge Coin

Doge coin is the token created by two developers as a mocking to the volatile nature of cryptocurrency. Doge coin is considered as a meme token created out of the Shiba Dog from meme template. Logo of the coin is the face of the dog. Doge coin is gaining prominence whenever Elon Musk tweets related to Doge coin.

Shiba Inu

Shiba Inu is also another meme token which launched as a joke or a parody rather than based on actual utilities, to “create something out of nothing” with more than 500,000 community members.

Exchange-based Tokens

We have traditional Exchanges like Binance, FTX and Huobi where we can trade, swap cryptocurrencies. This works with Fiat Currencies.

UniSwap

Uniswap Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on Ethereum. It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for safe, accessible, and efficient exchange activity. The protocol is non-upgradable and designed to be censorship resistant.

Pancake Swap

Pancake Swap is protocol designed to allow users to securely trade Binance Coin (BNB) and a massive variety of BEP-20/Binance Smart Chain tokens without relying on centralized services or traditional exchanges. As a decentralized exchange, all trades on Pancake Swap are automatically executed via smart contracts

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Adithya Thatipalli

Adithya Thatipalli

Security Engineer by Day, Cloud and Blockchain Learner during Night