Crypto Categories You NEED TO KNOW!! 101 Guide ๐ค [arRpzb2ST0X]
๐ฒ Insider Info in my Socials ๐ ๐ 20% Binance Discount ๐ ๐ Kucoin Fee Discount Up To 60% ๐ ๐ My Merch Store ๐ ๐ฅ TOP Crypto TIPS In My Newsletter ๐
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๐บEssential Videos๐บ
How To Decide Between Cryptocurrencies ๐ Coin Bureau Portfolio Breakdown ๐ Parachain Slot Auction Process In Detail ๐ Top Privacy Cryptocurrencies 2021 ๐ Top Exchange Tokens ๐ Crypto Market Manipulation ๐
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- TIMESTAMPS -
0:00 Intro
1:53 Store Of Value Cryptocurrencies
5:53 Smart Contract Cryptocurrencies
10:27 Oracle Cryptocurrencies
12:57 Payment Cryptocurrencies
15:13 Privacy Cryptocurrencies
19:00 Exchange Tokens
20:45 Meme Coins
23:48 Conclusion
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โ๏ธ ๐ Useful Links ๐ โ๏ธ
โบ Bitcoin Stock To Flow: โบ Litecoin Explained: โบ Cryptocurrency Decentralized Applications List: โบ Chainlink Developers Selling LINK: โบ Haven Protocol Privacy Explained: โบ Dogecoin History Explained:
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๐ฒStore Of Value Cryptocurrencies๐ฒ
As the name suggests, store of value cryptocurrencies are designed to hold or even increase their purchasing power over time
While Bitcoin is the only cryptocurrency that falls into the store of value category, some would argue that other cryptocurrencies like Litecoin fall under this umbrella as well
๐จโ๐ป Smart Contract Cryptocurrencies๐จโ๐ป
Smart contract cryptocurrencies are designed to be programmable with less emphasis on storing value. They make it possible to create tokenized assets and decentralized applications
There are over 5 thousand dApps with millions of users on about two dozen smart contract cryptocurrency blockchains, mainly Ethereum and the Binance Smart Chain
๐ฎOracle Cryptocurrencies๐ฎ
Oracle cryptocurrencies make it possible to bring real world data to smart contract cryptocurrency blockchains
The difference between data feeds like APIs and oracle cryptocurrencies is that the data feeds that oracle cryptocurrencies provide are decentralized
๐ณPayment Cryptocurrencies๐ณ
Payment cryptocurrencies aim to replace the current payment systems we use today, and sometimes use smart contract technology to do this
Popular payment cryptocurrencies include Bitcoin Cash, Dash, Terra, and Telcoin. Some of these payment cryptos feature elaborate smart contracts and dApp ecosystems focused on payments
๐Privacy Cryptocurrencies๐
Privacy cryptocurrencies are designed to preserve your privacy when making transactions or using dApps
These are the issues that privacy cryptocurrencies seek to address, and they come in all sorts of textures and flavors with some focusing on smart contracts and others on payments
๐Exchange Tokens๐
Exchanges tokens are owned and operated by the cryptocurrency exchanges they belong to. You can think of exchange tokens as being a combination of a membership subscription and company stock
Exchange tokens are like a membership subscription because they can give you a whole bunch of perks such as trading fee discounts and VIP access to early coin and token sales
Exchange tokens are like company stock because the performance of an exchange token depends on the popularity of the exchange in question
๐ถMeme Coins๐ถ
Most meme coins have no specific use case and exist for no other reason besides hype and a false promise of profit
Many of the meme coins youโve seen pop up over the last few months have similarly massive supplies, which means they wonโt be reaching 1 dollar any time soon either
Most meme coins exist for one purpose, and thatโs to enrich their creators. You can try your luck riding that wave, but the risk is not worth the reward in my personal opinion.
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๐ Disclaimer ๐
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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