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4 Hottest Cryptocurrency Categories to Choose From for Your Investment Portfolio

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It’s Invest Diva’s Kiana Danial with News BTC and here is your cryptocurrency update.Going through crypto categories could be considered the first step to take when developing your cryptocurrency investment portfolio. Here are some of the most popular cryptocurrency categories and the leading cryptos in each space. Remember that these were just a few examples of many categories in the exciting cryptocurrency world, and that other people may categorize these cryptos differently. You can explore more about cryptocurrency categories in my book, Cryptocurrency Investing for Dummies. The first category includes #1: Payment cryptos. This is by far the biggest category in terms of total market cap. In this group we can find cryptocurrencies that mainly aim to be used as a store of value, transaction, and payments just like fiat currencies like the US dollar. Examples of Cryptocurrencies which fall in this category include: Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and OmiseGo (OMG). #2: Privacy cryptos. These are the cryptocurrencies that are heavily focused towards transaction security and anonymity. A LOT more than those in the payment category. Privacy cryptos can be a bit controversial because authorities see them as an illicit tool that can be used by criminals to engage in illegal activities, such as money laundering. Nonetheless, some of them have gained popularity. Examples include Monero (XMR), ZCash (ZEC), and CloakCoin (CLOAK). The third category is #3: Platform cryptos. They are also referred to as Decentralized Application Protocol cryptos, or Smart Contract cryptos, or a hybrid of all three. In this category, we can find cryptocurrencies that are built on a centralized blockchain platform and are used by developers in order to build decentralized applications. The most famous example in this category is Ethereum (ETH.) Others include NEO, Lisk and EOS. #4 Exchange-specific cryptos. These are the cryptos that are introduced and used mainly by the cryptocurrency exchanges. These cryptos can be considered as incentives that bring people to their exchange platform. Examples include Binance Coin (BNB) and KuCoin Shares (KCS). There is a growing number of hot crypto categories, including but not limited to finance, property, gaming, medical, and more. Flip through Cryptocurrency Investing for Dummies and for more. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

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