Common Cryptocurrency Names and Classifications in the Crypto Space

Knowledge Sharing

1. Classification by Status

1. Mainstream Coins (Blue Chip Coins)

- Bitcoin (BTC): The 'big brother' of the crypto world, ranked first by market capitalization, with strong anti-inflation properties.

- Ethereum (ETH): The pioneer of smart contracts, the foundation for DeFi and NFTs.

- Binance Coin (BNB): The token for Binance exchange, used for fee discounts and participating in the ecosystem.

- Stablecoins (USDT/USDC): Pegged to the US dollar at a 1:1 ratio, the preferred choice for hedging.

2. Altcoins

- Imitation Coins: Such as Litecoin (LTC, a lightweight version of Bitcoin), Dogecoin (DOGE, a community culture coin).

- Functional Coins: Such as Cardano (ADA, a third-generation public chain), Solana (SOL, a high-performance chain).

- Meme Coins: Trash coins without technology, purely speculative (like some MEME coins), with high risk of extreme price volatility.

3. Tokens

- Utility Tokens: Such as Filecoin (FIL, storage services), Uniswap (UNI, governance rights).

- Security Tokens: Such as Tether (USDT, stablecoin).

- Governance Tokens: Such as Aave (AAVE, participation in protocol decisions).

2. Classification by Function

1. Payment Type

- Bitcoin (BTC), Litecoin (LTC): Similar to digital gold, used for transactions and value storage.

2. Smart Contract Type

- Ethereum (ETH), Solana (SOL): Support developers to build decentralized applications (DApps).

3. Privacy Type

- Monero (XMR), Zcash (ZEC): Anonymous transactions, protecting user privacy.

4. Platform Type

- Polkadot (DOT), Polygon (MATIC): Cross-chain interoperability or expanding the Ethereum ecosystem.

3. Classification by Market Popularity

1. Meme Coins

- Dogecoin (DOGE): Rose to fame due to memes, community-driven.

- Shiba Inu Coin (SHIB): Competing with Dogecoin, extremely low price but highly volatile.

2. DeFi Coins

- Aave (AAVE): Token for decentralized lending protocol.

- Curve (CRV): Stablecoin liquidity mining token.

3. NFT-Related Coins

- MANA: Decentraland virtual land trading token.

- SAND: The Sandbox metaverse token.

4. High-Risk Coins (Proceed with Caution!)

1. Ponzi Coins: Such as Vika Coin, Kela Coin, profiting from recruiting others, ultimately running away.

2. Air Coins: No practical application, relying on hype to pump prices (like some newly listed exchange coins).

3. Fork Coins: Such as Bitcoin Cash (BCH), which is forked from the main chain and whose value relies on community consensus.