1. Payment cryptos
These are cryptocurrencies which are mainly used for payments.
Examples
- Bitcoin(BTC)
- Litecoin(LTC)
- Bitcoin Cash(BCH)
- Dash(DASH)
- Ripple(XRP)
- Tether(USDT)
2. Smartcontracts or platform-based cryptos
These are platform cryptocurrencies that are used to pay for services provided by the blockchain that runs the contract. For example, ether in the Ethereum blockchain is used to pay for gas fees. These platform-based cryptocurrencies allow developers to build decentralized applications (dApps) on their platform and use their native token as their payment fee.
Examples
- Ethereum(ETH)
- NEO(NEO)
- Lisk(LSK)
- Eos(EOS)
- Cordano(ADA)
- TRON(TRX)
- SOLANA(SOL)
3. Exchange-specific cryptos
Some cryptocurrencies are built on an exchange platform and are used for transaction activities occurring within the exchange platform. For example, Binance Exchange has Binance coin(BNB) as their native coin used to accept, send, buy, sell, and invest cryptocurrencies within the Binance exchange platform.
Examples
- Binance coin(BNB)
- Kucoin shares
- Huobi Token(HT)
- WazirX (WRX)
4. Privacy cryptos
These are cryptocurrencies that ensure more security when transferring your digital token from one wallet to another. They ensure that cryptocurrencies are transferred in a fully anonymous environment privately.
Example
- Monetro(XMR)
- Zcash(ZECH)
Cryptocurrency is categorized based on the industry and Function they do. The above are just the main types but other cryptocurrency categories are
- Fintech cryptos
- Legal and property cryptos
You can find more about cryptocurrency categories at https://www.coingecko.com/en/categories
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