[Part 2 of 3] Let me breakdown what is USDT, SOL, DOT and XRP for you.
A very layman understanding of the current crypto craze.
If you Google any crypto name now, you will probably see a flood of information you can’t even comprehend.
It would take you forever to get to the bottom of what it really means and what you really need to know.
There is so much fuzz and buzz, you can’t tell left from right.
What has a dog got to do with blockchain and why are there so many different types of crypto coins?
Here is a very layman breakdown of the top few cryptocurrencies in the market today.
This is a mega thread, so I will be spreading it out into 3 parts.
Enjoy.
-
USDT $73.1 B
7 years old, it is a stablecoin.
No I can’t explain what is a stablecoin.
Just know it is a kind of cryptocurrency that pegs its value to the actual USD value.
Apparently nobody knows it has been around for so long.
Not even me.
Imagine you had a piece of cheese left in the corner of your fridge for 7 years.
Can you eat it?
Sure you can, I just don’t know if it would taste good.
Yup, that’s USDT for you.
-
SOL: $57.9 B
2 years old, another cryptocurrency, popular alternative to ETH.
If BTC is the main dish, ETH is the side dish, then SOL is the occasional chips you simply can’t stop putting into your mouth.
What do you need to know?
It’s cheaper that ETH, supposedly much faster to transact and cost much less than ETH in terms of “gas fees”.
Hence, its popularity has been booming as a currency for buying / selling NFTs lately.
Apparently, the Gen Z love it, because BTC is for Boomers and ETH is for Millenials.
-
DOT: $33.6 B
1.5 years old, allows you swap tokens around.
Supposedly to explode in value but has been simmering for a long while.
Apparently, it can do so many things, no one can decide what it can actually be used for.
Not much else to know about it.
XRP: $44.3 B
9 years old, was for remittance, then got into a hefty, scary lawsuit by the SEC.
That crashed the value for a bit.
But like how most of you forgotten about homework, chores and to eat your greens, everyone seems to have forgotten about that lawsuit and the value is almost back up again.
Welcome to Crypto land.
Down is up and up is … up.
The only other legend to stand up to the SEC and come out alive is Elon Musk.
Go figure.
-
If you like this, check out part 3.
-
#startups #business #startupx #cryptocurrency #success #socialmedia #culture #entrepreneurship #strategy #BTC #ETH #BNB #USDT #SOL #dot #XRP #ADA #DOGE #SHIB #FOMO
