Classified as a stablecoin — a type of cryptocurrency intended to maintain a consistent value — DAI is designed to minimize volatility through smart contracts (digital contracts stored on a blockchain) that adjust for supply and demand. It’s governed by the MakerGAO protocol and backed by overcollateralized cryptocurrency assets, meaning the value of the collateral backing the crypto is always higher than the total value of the issued DAI.

The goal of DAI is to maintain a ratio of 1 DAI to $1 USD. DAI is generally more stable than other cryptocurrencies, but it may fluctuate during times of market stress. DAI is widely used in the decentralized finance (DeFi) ecosystem — a system of financial applications built on blockchain technology that allows users to borrow, lend, trade, and earn interest without relying on traditional banks. It appeals to those who value decentralization and transparency.

Tronix is the native cryptocurrency of the TRON blockchain platform. It gives users more control over their data and enables developers to create decentralized applications (DApps) — programs that run on a distributed network of computers rather than a central server. This decentralized approach often increases security and user control.

After purchasing TRX through a cryptocurrency exchange, you can use it to tip content creators and purchase games and apps on platforms built on the TRON network.

The SHIB cryptocurrency started as a meme-based joke, but it quickly became popular among crypto investors because of its community-driven nature and viral appeal. It was created by an anonymous figure known only as “Ryoshi” to compete with Dogecoin, Elon Musk’s favorite memecoin. It enticed buyers and captured attention with its playful mascot. SHIB also immediately stood out because it was one of the first to be controlled by community members who could actively participate.

Like DAI, USDC is a stablecoin designed to keep the value of one unit as close to $1 USD as possible. The biggest difference between the two is that USDC is backed by fiat currency, government-issued money not backed by a physical commodity like gold and silver, which includes U.S. government securities and cash.

USDC originally launched on the Ethereum blockchain but is now available on multiple platforms, including Polygon, Base, and Avalanche, increasing its accessibility across crypto ecosystems.

Tether Limited introduced its cryptocurrency several years before USDC, DAI, and other stablecoins entered the market. Like USDC, Tether is pegged to the U.S. dollar, so its value remains stable over time. USDT is available on more than a dozen platforms, so it has a relatively high trading volume compared to other stablecoins.

Instead of facilitating individual transactions, Ripple’s XRP gives banks and other financial institutions a faster, more secure way to transfer money across borders. Another difference between XRP and other digital currencies is that it provides liquidity and converts one fiat currency to another. For example, XRP can be used to convert U.S. dollars to Chinese yuan in Ripple’s cross-border payment system.

Polygon isn’t a separate network — it’s a sidechain or scaling solution designed to work alongside Ethereum. Because of its popularity, Ethereum can be slow and costly. High transaction fees make it difficult for users to earn a return on small investments. Polygon helps by processing transactions off the Ethereum chain, reducing costs and preventing delays. MATIC, Polygon’s native token, can be used for purchases, staking rewards on your crypto balance, and voting on proposed network upgrades.

Developed by Ava Labs, the Avalanche network offers a faster and more scalable alternative to Ethereum and other high-traffic blockchain platforms. AVAX, its native token, is used for staking (earning rewards), transactions, and trading. What makes the Avalanche network stand out is its eco-friendly design. AVAX uses less energy than proof-of-work cryptocurrencies like Bitcoin, appealing to investors who want to trade crypto while minimizing their carbon footprint.

Telegram, a cloud-based messaging service, originally developed the Telegram Open Network (TON) with the intention of launching a cryptocurrency known as Gram. The company raised more than $1 billion in a private token sale, but had to abandon its plans when the Securities and Exchange Commission filed a lawsuit alleging that Telegram raised the funds by selling unregistered securities.

After Telegram withdrew from the development and launch of the TON blockchain and Gram token, the project continued to develop under the name “The Open Network” and became community-led. Telegram continues to allow its users to send TON cryptocurrency directly within the messaging app, despite no longer controlling the project.

Jackson Palmer and Billy Markus created Dogecoin as a satire to highlight the volatility of the early cryptocurrency market. While it started off as just a memecoin, DOGE gained traction, becoming a viable alternative to Bitcoin and Ethereum. Elon Musk further boosted DOGE by frequently referencing it on social media, and eventually using its ticker symbol as the shorthand for his Department of Government Efficiency. Like other cryptocurrencies, DOGE can be used for online tipping, charitable donations, investing, and quick, low-cost payments.

Named after Ada Lovelace, a mathematician whose work helped make modern computer programming possible, ADA is the native coin for the Cardano platform. While Cardano supports smart contracts, it doesn’t consume as much energy as other blockchain platforms, giving users a more sustainable option. Cardano also uses a unique proof-of-stake system to validate transactions, making the platform more secure and scalable.

The Solana platform offers the same basic functions as other blockchain platforms, but with faster transaction speeds. You can send money to someone thousands of miles away in seconds. Solana’s founders also wanted to keep fees low, making the platform highly attractive to users who want to make small payments rather than deposit hundreds of thousands of dollars.

Developed by Binance, one of the biggest players in the crypto industry, BNB enables users to earn rewards, send payments, play games, and cover transaction fees. One reason for BNB’s popularity is that Binance regularly burns a portion of its digital tokens, reducing supply and potentially increasing the value of the remaining cryptocurrency.

Less than a year after Ethereum launched, hackers stole $50 million from the DAO, one of the network’s largest decentralized apps. The theft led to a split in the Ethereum community and resulted in the creation of Ethereum (ETH) and Ethereum Classic (ETC). Despite this, the platform’s momentum stayed strong, and developers continued to use Ethereum to build decentralized applications and make payments, which resulted in unprecedented growth. Ethereum has even been able to reduce its energy consumption by switching from a proof-of-work system to a proof-of-stake system — a move that began with the Ethereum 2.0 upgrade.

As the original digital payment token introduced to the public in 2008, Bitcoin is used by investors and consumers for value exchange — trading digital assets for other assets — and purchases.

Developed by an anonymous group or individual using the pseudonym “Satoshi Nakamoto,” BTC is one of the largest and most well-known cryptocurrencies. This worldwide cryptocurrency is open source, meaning it isn’t owned by any one person and everyone can use it.

It was also one of the first cryptocurrencies to receive support from major companies, including Tesla, PayPal, and Microsoft. Since its launch, Bitcoin has undergone several updates, making it faster, more efficient, and more scalable.