What is the Purpose of Cryptocurrency? 4 Top Cryptocurrencies and their Purpose

What is the purpose of cryptocurrency? Although this question may sound rhetorical to some, there is more to explain than common knowledge. You will be surprised to understand that most cryptocurrency traders have no idea that these coins are created to serve different purposes. Having said that, let's stick to the question, "what is the purpose of cryptocurrency?" Well, this is what this piece is there to explain. Let's take the decentralized finance coins, for example. They are those financial transactions conducted without using the conventional bank method. Let's demystify this is like doing everything you do with the traditional bank outside the bank itself. When we say, "those things you do", we mean getting loans, investing, insurance, and even credit cards.

 

Tips on How to Invest in Crypto as a Beginner

The popularity of cryptocurrencies has been on the rise in recent years, which has increased the number of investors interested in investing in crypto, who see crypto as an opportunity to expand their portfolios. Investing in cryptocurrencies tends to be made through unconventional channels. In this article, we will show you how to invest in crypto and you will learn other cryptocurrencies sectors.

 

Meme coins Are Good Investment and Great for Portfolio Diversification

While the majority of the attention has been focused on the most well-known cryptocurrency names, such as Bitcoin and Ethereum, a wide range of new coins have emerged in recent years.

 

Meme coins may have started off as a joke in the cryptocurrency industry, but investors are starting to take note. Elon Musk, for example, has abruptly abandoned Bitcoin in favor of Dogecoin. Tesla's CEO has gone on record as saying that he hasn't sold any of his Dogecoins and has no plans to do so in the future. This has led many people to meme coins, and many others are learning how to invest in Shiba Inu coins.

 

Will Shiba Inu Reach $1? Everything About SHIB Market Capitalization

Shiba Inu is an Ethereum-based altcoin (a cryptocurrency other than Bitcoin) using the Shiba Inu as its mascot, a Japanese hunting dog breed. Shiba Inu is commonly regarded as a Dogecoin alternative; in fact, its proponents refer to it as the "Dogecoin killer."

 

Shiba Inu is a meme coin, which is a cryptocurrency connected with a particular theme—in this example, the Shiba Inu dog—but which is frequently created as a parody or inside joke rather than as a digital commodity with actual utility. Shiba Inu was founded in August 2020 by an anonymous individual or group known only as "Ryoshi" and is traded on ShibaSwap, a decentralized exchange. Will Shiba Inu reach 1 dollar? What is the market capitalization for Shiba Inu, and what are experts' opinions on Shiba Inu price prediction? Read on to find out more.

 

Bitcoin trading volume vs other cryptos’- Evonax

The price of any crypto commodity depends on so many factors. However, some traders believe the trading volume of crypto has nothing to do with the price. Well, there’s no such thing as volume has nothing to do with the price. Although it might not be the same with other cryptocurrencies, while it might not be so pronounced in some, the fact remains that volume is one of the price determinants. So, what is trading volume? It is simply the total amount of trading taking place at a particular time. However, it is also essential that we understand the concept of liquidity, which is the amount of that crypto that is available for trading at a single price. So, it is safe to assume that the higher the volume of the cryptocurrency transacted, the more liquid the crypto community becomes.