There are so many tricks in cryptocurrency! Don’t think it’s just about coins and tokens; today I’ll talk to you about these eight major players. If you don’t recognize them all, hurry up and tuck them in your pocket, or you won’t have any confidence in the circle!
First, let’s talk about Bitcoin, which is the pioneer of the crypto world, the OG of OGs, with a status akin to the 'founding ancestor' in the circle; no one dares to disrespect it!
Next, we have altcoins, which are essentially Bitcoin's 'descendants'. Some have branched out from Bitcoin, while others are modeled after it, but each one has its own unique tricks. Coins like Ethereum, Litecoin, and Ripple each have their own specialties.
Stablecoins are much more reliable, tightly bound to fiat currencies like the US dollar, with prices that are quite stable, unlike other coins that jump around like they’re on a rocket. USDT and USDC are the 'stabilizing forces' in the circle, specifically for risk aversion!
Tokens are interesting; they don’t operate on their own chain but rather piggyback on others' blockchains. Coins like BAT and UNI thrive on others’ territories and still manage to do well.
Meme coins are purely derived from memes; they latch onto whatever is trending. Dogecoin, Shiba Inu, and PEPE can become wildly popular based on a joke, rising to the skies and crashing to the depths, making it quite thrilling!
Privacy coins are the exclusive domain of the 'mysterious big shots'; transaction records are kept tightly under wraps, making it impossible for anyone to trace where the money went. XMR and ZEC focus on anonymity, emphasizing being undetected!
DeFi tokens are rising stars, the leaders in decentralized finance. AAVE and COMP allow you to borrow and manage money on-chain without having to appease the banks, and they’ve been incredibly popular in recent years!
Lastly, NFTs, each one is unique, akin to digital artworks. CryptoPunks and others can sell for astronomical prices when traded, and collectors and investors are always on the lookout. Anyone holding a rare one can walk tall in the circle!
So, how do you feel about these eight categories? If you can’t even understand these, it’s easy to get burned in the crypto space. Make sure to remember them and take your time to learn!
Going solo and messing around will never lead you to opportunities. Follow me closely; I’ll help you dig up tenfold potential coins! You’ll have access to top-tier primary market resources!
