Contents [ hide ] - 1 Types of cryptocurrency explained and their uses - 2 Classification of coins/tokens: only the best - 3 Store of value tokens: See the cryptocurrency under this - 3.1 Why Invest In Store Of Value Tokens - 3.2 ROI Since launch till this date for store of value tokens - 4 NFTs Explained: See NFTs tokens performance - 4.1 What is NFTs - 4.2 How to create an NFT - 4.3 Where to sell your NFTs - 4.4 Chains that supports minting - 5 Best Market places for buying and selling your NFTs - 5.1 Top 5 places to buy and sell your NFTs - 6 Opensea - 6.1 Why choose Opensea as your NFT marketplace - 7 Binance NFT marketplace - 7.1 Why choose Binance NFT marketplace - 8 Crypto.com - 8.1 Why choose crypto.com marketplace - 9 Rarible - 9.1 ROI ATH of some NFTs Marketplace own tokens since launch - 10 Utility token explained - 11 Best Utility Tokens And Their ROI since launch - 11.1 Ethereum - 12 Meme tokens explained: You will love this one - 13 Defi Tokens - 13.1 ROI ATH of some defi tokens since launch - 14 Gaming Tokens: See why playing games is more than having fun - 15 Final Thoughts - 15.1 About Post Author - 15.1.1 Godwinadmin TYPES OF CRYPTOCURRENCY EXPLAINED AND THEIR USES The cryptocurrency market is growing bigger day after day as new blockchain technologies are introduced as New investors are coming in. In this post, we will be talking about these new technologies which have made one digital token different from another and we will be classifying them according to their use case Bitcoin the number one cryptocurrency ever is known for its use case. That is, to boost trading and transactions in the cryptocurrency market. Cryptocurrency like bitcoin, Ethereum, Bnb has very powerful use cases. They are independent and have their own blockchain. This simply means other coins can be created from it. The coins created from them/Sub coins are often regarded as tokens. Examples are bep20 tokens like Quincoin which is created from Binance smart chain (BnB), trc20 tokens like wink which is created from Tron blockchain, erc20 tokens like Shiba Inu which is created from Ethereum blockchain, etc. Though Shiba Inu now has a bep20 version. The discussed cryptocurrency above has a great use case, right? they don’t just boost trading transactions in the cryptocurrency market but also act as the root from which other coins are made. Powerful coins like bitcoin, Ethereum, Tron, Binance coin can be regarded as cryptocurrencies but not their sub coins. Thus, these sub tokens can’t be called a coin, so let’s only call them tokens. CLASSIFICATION OF COINS/TOKENS: ONLY THE BEST Just like Shiba Inu can’t be called a coin and bitcoin is more than just a token. They, therefore fall into different classes of cryptocurrency. So let’s find out the different common classes of cryptocurrency STORE OF VALUE TOKENS: SEE THE CRYPTOCURRENCY UNDER THIS Store of value cryptocurrencies is a popular type of cryptocurrency based on its use case. I bet you already know the coins under this category. They are cryptocurrency that has their own blockchain boosting trading and transactions in the cryptocurrency market. Coins with this much value are bitcoin, Binance coin (BnB), Tron, polygon, etc. WHY INVEST IN STORE OF VALUE TOKENS Store of value tokens like bitcoin are very powerful, they may only drop in price when the full cryptocurrency market is bad. This cryptocurrency can withstand the power of depreciation, it’s either they are increasing in price over time or they are being stable. Looking at bitcoin, you will find out that it usually goes back to its all-time high and even exceeds as soon the market is good again unlike other cryptocurrencies Cryptocurrencies under this category are very easy to liquidate. meaning they have very high demand in the market. Since it’s a very good store of value many Big investors make bitcoin their favorite coin storing their assets only in bitcoin. Their big reason for putting high trust in bitcoin is because bitcoin can never go to zero except the world is getting to an end. Hahaha just saying. In the screenshot above you will find the store of value tokens ranking first, this will tell you that they are the number one best cryptocurrencies to invest in but continue reading you may find what is more interesting than store of value tokens ROI SINCE LAUNCH TILL THIS DATE FOR STORE OF VALUE TOKENS - Bitcoin = 8,900,000% since 2009 - Ethereum = 103041% since July 2015 - BNB = 352024 since july 2017 - Polygon = 35093% since October 2017 - Tron = 2944% since 2017 NFTS EXPLAINED: SEE NFTS TOKENS PERFORMANCE The word NFTs is now the talk of the day, especially in the cryptocurrency space. I guess you have been wondering what does NFTs mean and how does it work. You will get a good definition of all this after reading Maybe you have heard of people selling their NFTs for some thousand dollars and even a million-dollar. For example, William Shatner selling 125000 units of his personal memorabilia as NFTs, Jack Dorsey, CEO of Twitter selling his first tweet for almost $3 million dollars as NFTs, RTFKT selling some series of sneakers for more than 3 million dollars, Taco bells GIF and images as NFTs, etc WHAT IS NFTS NFTs mean non-fungible tokens. By non-fungible, it simply means something that is unique, can’t be replaceable. NFTs always stay unique examples are your artworks, your songs, your sneakers, your GIF, Your images, etc are all non-fungible assets right, so you also know that these assets can be stolen from you by hackers and thefts through data breaches. This is where blockchain plays its role, to give a secure and safe atmosphere to keep your NFTs collections safe. These images, GIFs, artworks are stored on the blockchain as data in the form of a digital ledger. Since it’s stored on the blockchain, it simply tells you that the ownership can never be tampered with and all movements of these data from one owner to the other are recorded and made transparent on the blockchain. Now, you see blockchain has involved right? This makes your images and artworks, not just data but also something you can trade for another asset with ease. Thus, this made it a token. HOW TO CREATE AN NFT As said NFTs can be artworks, images, songs, and other collectibles and mostly done by art guys. The process of turning your artworks into an NFT ready to be listed in an NFT marketplace is known as minting. Minting involves converting your artworks, images, GIFs, Songs, etc into NFTs by signing a blockchain transaction of the details of your files (GIF, artworks, etc). This process triggers a smart contract function that stores your NFTs as data into the blockchain and assigns it to the owner. Signing your NFTs to the blockchain makes it a unique token, one that only you can have access to and easy to transfer to another user changing ownerships with ease. WHERE TO SELL YOUR NFTS It will be better to sell your NFTs in platforms under the blockchain you used to mint your tokens. If you used Ethereum blockchain to mint yourself tokens then go for Ethereum NFTs marketplace like Opensea . But though I will recommend you to go for the BSC NFTs marketplace if you don’t want to spend too much on gas fees. But meanwhile, we shouldn’t forget that Ethereum has the biggest marketplace when it comes to NFTs collections, and also Ethereum blockchain is also a great place to mint your tokens Also, note that it’s very possible to transfer your NFTs from one blockchain to another and from one marketplace to another too. but though some NFTs marketplace can be limited. Minting your videos, artworks, songs, and images it’s very important if you want to keep them secure and take full control of them. But though when you upload these videos, images, etc they can be downloaded by other persons right? the original copy will always remain unique and non-replaceable thus, making it a non-fungible token and when it’s minted you can sell it or keep it secure with blockchain technology. Once it’s in the blockchain, it can’t be deleted, edited, or modify and the ownership can’t be temper with without the creator interfering. CHAINS THAT SUPPORTS MINTING - Ethereum - Binance smart chain - Flow - Solana - Texas - Polkadot Want to know how to mint your NFTs with these blockchains click here BEST MARKET PLACES FOR BUYING AND SELLING YOUR NFTS NFTs can also be wrapped just like how Bnb can be wrapped to wBnb and keep safe. When you want to wrap your NFTs, it is usually recommended that you should wrap and store them on the blockchain you mint them from TOP 5 PLACES TO BUY AND SELL YOUR NFTS NFTs market has been growing very fast like wide fire in the past Months. Even big exchanges that weren’t having the NFT marketplace before have now integrated a marketplace on their platforms like crypto.com , Binance, etc. Though these new NFTs marketplace has been doing fine ever since they started. However, there is one big one that has been on the internet even before NFTs was becoming this popular. It’s Opensea OPENSEA This NFT marketplace is no doubt the best marketplace to buy and sell your NFTs. They have been doing great since 2017 and are still the best even now. When people talk about an NFTs marketplace they are usually referring to Opensea. WHY CHOOSE OPENSEA AS YOUR NFT MARKETPLACE 1. It’s the number one NFT marketplace right now you can confirm that yourself 2. Its been operating since 2017 which made it very reliable and trusted. Your NFTs is very much safe with them 3. They support all kinds of NFTs. Including arts, songs, videos, images, and other virtual collectives 4. They support NFTs mint from the best chains like Ethereum and polygon. Oops, I mentioned Ethereum, right? That should tell you that their fees are kind of high. But they are cool BINANCE NFT MARKETPLACE The biggest cryptocurrency exchange in the world started its own NFT marketplace in June 2021 and of course, they have grown big within months and even make the NFT market more popular. WHY CHOOSE BINANCE NFT MARKETPLACE 1. Their fees are very cheap and I think it’s the cheapest among its competitors right how 2. Binance has its own blockchain where you can mint your NFTs. This will make it very easy and convenient as you mint and trade your NFTs in one network 3. Binance now supports a multi-chain network. That is, you can start listing your Ethereum minted tokens on the Binance NFT marketplace just as you do with BSC tokens 4. You can use both Binance’s own coin BnB or Busd on the Binance NFT marketplace CRYPTO.COM Crypto.com, a very popular cryptocurrency exchange used by millions just added an NFT marketplace to their platform where you can create, list, buy and sell your NFTs. This cryptocurrency exchange started in 2016 and released their NFT marketplace in match 2021. There NFT marketplace is big and you will find many collections of NFTs there. WHY CHOOSE CRYPTO.COM MARKETPLACE 1. On crypto.com , Artist/NFT creators can either set a fixed price for their listed NFT or they can sell them by auction. 2. They support Ethereum minted tokens and many varieties of NFTs 3. There NFT service fee is relatively low. Just 1.99% RARIBLE Just like Opensea, Rarible has also been in the NFT market for a long time now. Rarible has Many collections of NFTs listed on their marketplace. Nfts including videos, music, arts, and many other collectives are supported. This marketplace has drawn the attention of big brands including Adobe, sports, gaming and media etc Rarible supports both Ethereum, flow, and Tezos blockchain. They have their own token known as RARI. You can use RARI to buy and sell NFTs on their marketplace Token like RARI has its alternatives. Examples are DEGO, GALA, And CHZ. Let’s look at their performance over the years ROI ATH OF SOME NFTS MARKETPLACE OWN TOKENS SINCE LAUNCH - RARI = 6361% - GALA = 32249% - Dego = 1862% - CHZ = 3095% UTILITY TOKEN EXPLAINED The word utility simply means being useful while the word token means something you can exchange for a product or service. Utility token then means a token you can use as means of payments to goods and services Tokens that serve as means of payment in the ecosystem are utility tokens. They can be used as means of payment to purchase goods and services digitally. BNB, Quincoin, bogged finance and CRO are utility tokens. These tokens are used in paying fees while trading on their platforms BEST UTILITY TOKENS AND THEIR ROI SINCE LAUNCH ETHEREUM Ethereum doesn’t only have its own blockchain but also has one of the biggest utilities in the digital market. Do you know of NFTs? We will discuss it on this page, continue reading. It’s no doubt that NFTs have really been the chief cornerstone for months now. Guess the blockchain behind it? It’s Ethereum. NFTs market is growing big day by day and guess where all the fees paid here goes? It’s Ethereum also. This makes Ethereum the most powerful utility token . In the cryptocurrency ecosystem, utility tokens mostly act as payments only to the issuer company or platform. Though you can always trade it for other coins just like every other token. A Good example of a utility token is BnB which acts as a token you can use to pay fees in the Binance platform. Another example of a utility token is the crypto.com token. There is this new utility token that has been trending for days now known as QUINCOIN , they just launched their cryptocurrency exchange Bitqin.io . Since Quincoin will be acting as a primary token on their new centralized exchange just as BnB, this can make Quincoin the next Bnb token in the future. MEME TOKENS EXPLAINED: YOU WILL LOVE THIS ONE Meme is coming from the word meme, which means something that is a joke but has the tendency to be the talk of the day through the internet and social media. A meme token is simply a token that doesn’t have anything behind it, no project plans, nothing at all but their names can be hilarious and cause the whole world to be talking about them which in return can cause a crazy hyping. These tokens have been around for some years now but the craziest hyping starts from 2020 when dogecoin, a meme token that was almost forgotten became one of the most popular coins in the year 2020/2021. Dogecoin has gone up more than 600,000% from its all-time low and since then it remain one of the biggest tokens based on market cap. Other meme coins include Akita Inu, safe moon, BabyDoge, etc and we shouldn’t forget that as of 2021 one of the coins that got its holders so rich happen to be a meme token Shiba Inu and ranking number 14 in Coinmarketcap at this time of post. This coin rise more than 1,000,000% in a very short time which made the whole cryptocurrency investors go crazy about it. Let me guess, you are already going crazy about it and already in a search of the next meme coin? Well, even I missed out on Shiba Inu crazy pump. It is clear that meme tokens are very volatile and can rise up more than anything on your mind. You should know that meme tokens can also become utility tokens. You can take a look back on the big news in 2021 about Elon MUSK accepting dogecoin for tesla payments. That will cause another super hype for sure DEFI TOKENS DEFI is another system of banking that is very different from how our banks work. It means decentralized exchange finance. Defi means decentralized exchange finance, the opposite of centralized exchange finance CEX. Defi is an open source for blockchain where all data, ledgers, and all transactions can view by anyone using codes. However, on decentralized exchanges, no one can access your money or temper with it not even the creators of blockchain but they can always see your past transactions and all data even in years to come. There is no middle man involved in Defis. Banking systems like the borrowing of loans, interest acquisition, and safeguarding of assets can also be carried out here even more effectively than centralized exchanges through smart contracts Defi apps are platforms created and managed in blockchain often Ethereum or Binance smart contract. All trade transactions are open publicly in the blockchain and anyone can take a look at what is going on using codes. Just as Binance, a centralized exchange that has its own token, even some Defi apps have their own tokens, these tokens we refer to as Defi tokens. Examples are bogged finance token, chain link, maker, compound, Aave and ANKR ROI ATH OF SOME DEFI TOKENS SINCE LAUNCH - AAVE = 1029% - CHAINLINK = 22178% - ANKR = 1188% - BOG = 2506% GAMING TOKENS: SEE WHY PLAYING GAMES IS MORE THAN HAVING FUN As the name implies, gaming tokens are In-app tokens in video games. If you are the type that plays video games you will get a good understanding of how gaming tokens work at the end of this article. Let’s take the popular game subway, for example, it’s no doubt that millions of people play this game. While playing the game you can choose different characters for free but for the sneakers, hoverboard, and jetpack. You will need to collect enough coins on the run to be able to buy these items to make the game more super fun for you. There is not much difference between games like this and gaming tokens only for the fact that instead of earning coins that don’t have value outside the game, you can earn real tokens (cryptocurrencies) just the same way and of course, you can do all shopping using the tokens within the game e.g buying characters, buying items in the game, etc. Rather than using your tokens in the game store you can equally trade it in any of it listed cryptocurrency Exchange just like any other cryptocurrencies. This type of gaming tokens is popularly known as P2E tokens A big gaming platform is the GAMEFI. You can play amazing video games on the platform, earn real cryptocurrency while playing, and much more. Also on Gamefi, you can compete with unseen people gambling your cryptocurrency with others for a chance to win a game. This makes the gaming system more interesting. The gaming ecosystem is new. Gamefi was launched in early 2021 and has been growing very fast ever. At this time of post Gamefi token GAFI is having a trading volume of $1,040,263 which is a very good number. Gamefi is not the only gaming token as there are other gaming tokens too examples are ALICE, LOKA, MANA, etc My articles are interesting right please scroll down a little to give your feedback on how we can improve. You may want to look at the best cryptocurrency exchanges to buy Altcoins FINAL THOUGHTS I believe you now have a good understanding of the common types of cryptocurrencies. If you are looking at one to invest in, you should take a look at utility tokens. Though utility tokens are usually the ones with a long road map over the years they can grow big as their platforms/company grows. Another one you should look at if you want some huge gains are meme tokens but keep in mind that meme tokens can be very risky as they have no utility backing them up Did I say am a financial advisor please am not, but I can help you choose the best cryptocurrency to buy at this time. You can reach me by sending a mail to me at Save ABOUT POST AUTHOR GODWINADMIN Hey dear, am the owner of this blog. Hope to get you rich with my mind-blowing ideas and skills on social media marketing and financing. Bringing you the exact contents you have been looking for. You can reach me out for promos or partnership. I have worked for big companies like twilight nft gaming and i reached more than 100k visitors on the article i wrote them. There is a form below where you can submit your active email for a super notification on social media marketing, i.e Facebook marketing, Whatsapp marketing, Google ads, etc, finance on cryptocurrency, investing, forex trading, and other online businesses. 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