With the number of Cryptocurrencies constantly growing in the market, it's always handy to be in-the-know about the top players in the industry when it comes to how useful they are in our day to day lives. There are 8 cryptocurrencies to date that take the cake when it comes to daily usefulness.
Let's begin with Bitcoin.1. Bitcoin (BTC) is most useful in terms of payments and value storage. Everyone knows Bitcoin is the most widely used and purchased cryptocurrency. At present, it has over 60% of the market dominance. The fact that Bitcoin is so prevalent allows it to be the cryptocurrency most widely accepted for real-life payments. Many establishments around the world accept Bitcoin, and there are even Bitcoin ATMs that allow people to withdraw cash. Satoshi, the creator of Bitcoin, created it with the intention of it being a reliable type of value storage, the same way the value of gold can be preserved for a long time.
2. Ethereum (ETH) on the other hand is especially useful for Smart Contracts & Decentralized Apps (Dapps). Ethereum intends to be a single point of contact for the creation of smart contracts and decentralized apps that have no single point of failure and are completely anonymous. Vitalik Buterin, creator of Ethereum has expressed that Ethereum is not to be only used as money, unlike Bitcoin.
For people with more heavy duty technical needs, 3. Golem (GNT) and their decentralized super computers comes in as a mega-player in the industry in terms of what they have to offer. They are pretty much the airbnb of computers. Their open-sourced & decentralized supercomputer is powered by Ethereum-based cryptocurrency. It has a fixed coin supply which value increases with popularity. It allows you to run websites, energy-intensive scientific calculations, run a long code, do CGI rendering. The computers will run when a user pays GNT tokens, which will be then given to people who have rented out their extra computing power on the Golem network.
4. Siacoin (SIACOIN) on the other hand is known as the airbnb of hard drives because they are known most for their decentralized cloud storage. Siacoin allows users to rent out their unused hard drive space in exchange for money all user data is stored on blockchain so this eliminates the potential of centralized storage devices failing, and prevents the misuse of unencrypted data. Storage with Siacoin is more bang for your buck when compared Google Drive, Dropbox, Amazon and Cloud storage.
5. IOTA (IOTA). IOTA Differs from other cryptocurrencies because it offers completely free transactions. It is the first cryptocurrency without a blockchain and uses Tangle technology instead. Tangle is a new protocol that brings several unique qualities to IOTA: infinite scalability, zero commissions, fast and secure transactions.
Also belonging in this list is our recently listed 6. TOSC. T.OS Pay is leading the way in payment systems and lifestyle purchases in South Korea. Recently partnering with EZcash, World Miss University, Japan Fuji Taxi Group, Mongolia Taxi Group, different cafes and companies, T.OS Pay aims to make cryptocurrency usable in the real world. The T.OS Pay app unlocks access to 160,000 different products available through Giftishow a coupon application run by Korean telecommunications giant KT, buy coffee & desserts at Decentre Café. Most importantly TOSC unlocks the ability to withdraw cash from ATMs across South Korea.
Next, we have 7. CoinShare. CoinShare is the first company to launch a Social Shopping Platform on the model of the Sharing Economy, which allows users to receive a Cashback in Tokens for each purchase made on the platform and also for the purcahses made by its community. In fact, the platform rewards the most active users, thanks to an algorithm that detects the monthly activity of each member within the community. In other words, this project allows you to earn more than you spend!
Last but not least, 8. Reddcoin. Reddcoin is the first Social Cryptocurrency. It’s the original social network tipping, content creator, and micro-donation cryptocurrency. Its Core Wallet allows you to store, send, and stake your balance. Grow your stash on a regular basis!
Indeed cryptofans, so many products to choose from and a lot to learn. Hopefully the low-down on these top 8 definitely give you a little more insight into how tangible and usable cryptocurrencies are becoming. At BXB we have the world's simplest way of trading bitcoin using a method called Tap Trading. So you see, even trading crypto is becoming simpler and easier to do - try it now!