Cryptocurrencies we support
Every cryptocurrency has a name and a ticker symbol. The ticker symbol is an abbreviation and is often used in cryptocurrency. For example, Bitcoin is the name, and the ticker symbol is BTC.
All quick facts in this article are as of 12/12/2022
Bitcoin (BTC)
Bitcoin is the grandfather of cryptocurrency, the first and original cryptocurrency built on blockchain. Created in 2009 by an anonymous developer under the alias Satoshi Nakamoto, Bitcoin is a decentralized peer 2 peer operated cryptocurrency. Bitcoin was created in response to the 2008 financial crisis. A currency that does not rely on institutions or third-party trust and has no central point of operation or authority.
Quick facts:
Bitcoin has a maximum supply of 21,000,000 (21m) Bitcoins
Satoshi Nakamoto is still anonymous to this day
The smallest unit of a Bitcoin is called a Satoshi, 1 Bitcoin = 100,000,000 (100m) Satoshis
The Bitcoin blockchain is the world's most powerful supercomputer
Bitcoin is open source, allowing anyone to see the code it operates on
Ethereum (ETH)
Ethereum is a decentralized blockchain that works as a platform for applications. It can be seen as infrastructure, hosting many cryptocurrencies and decentralized applications (dApps). If someone was to create a cryptocurrency, they can build it on Ethereum and leverage Ethereum's decentralized infrastructure to operate. If someone wanted to create a decentralized lottery or lending and borrowing service, they can do so on Ethereum.
Quick facts:
Over $24.2b USD in value is sitting in decentralized applications on Ethereum
Ethereum is open source, allowing anyone to see the code it operates on
Ethereum has no maximum supply but has very minimal inflation and sometimes is deflationary
USD Coin (USDC) Coming soon
USD Coin (USDC) is a stablecoin. A stablecoin is a cryptocurrency that is pegged to a fiat currency, USDC is pegged to the USD. This is done by holding asset reserves 1:1 for every USDC in existence. USDC is issued by Circle. Stablecoin issuers often hold reserves value in US treasury securities.
Instead of having its own blockchain, USDC operates on blockchains that can host cryptocurrencies, like Ethereum.
Institutions and individuals can mint USDC by depositing USD to Circle and receiving 1:1 USDC after fees or alternatively redeem USD by returning USDC to Circle.
Quick facts:
There are over 40b USDC circulating
Over 100b in USD of stablecoins currently exist
USDC reserves and audits can be viewed at any time here
Cardano (ADA)
Cardano is a blockchain that is designed to be a more scalable successor to Ethereum. Cardano aims to enable people to use cryptocurrencies for everyday transactions and financial interactions. Similar to Ethereum, Cardano allows for tokens and applications to be built on its blockchain.
Quick facts:
Cardano is an extremely energy efficient blockchain
Cardano is maintained by the Cardano Foundation, a non-profit organization in Switzerland
Cardano dApps can be coded in either Marlowe or Plutus languages
Solana (SOL)
Solana, like Cardano and Ethereum is a blockchain that can host decentralized applications. Its main difference is that Solana is aimed to be extremely scalable with the ability to process 50,000 transactions per second, more than 3000 times faster than Ethereum.
Quick facts:
Solana uses Proof of Stake (PoS) and Proof of History (PoH) blockchain mechanisms
Solana is one of the fastest transaction-per-second blockchains