Types Of Cryptocoins

By Mahima December 30, 2023

What is cryptocurrency currency?

Cryptocurrency is a virtual currency, that is, it has no physical existence.

It is a currency made on a computer algorithm, it exists only on the Internet, it cannot be controlled by any authority, even demonetization has no effect on it.

There are many cryptocurrencies in the world like – Bitcoin, RED coin, SIA coin, Ethereum, Ripple (XRP) and Monero. It is very popular in the world because of its high profits.

Types Of Cryptocoins

There are approximately 1,000+ cryptocurrencies in existence today, but there are a few that are most commonly used. Below are the types of cryptocoins-

Ether and Ethereum: 

It is used as interchange currency. Ether is a type of token. It is used for transactions under the Ethereum block chain.


It was invented in the year 2011. Like the named coin, it also works with the help of decentralized technology. With its help, Bitcoin works faster.


Dash cryptocurrency was invented in the year 2014. Initially it was also called dark coin. It works with the help of a network called ‘Masternode’. This network is faster and more efficient than Bitcoin.

Z Cash: 

Its dominance started in October 2016. This is a new type of currency in this region. All the information gets encrypted during its use, yet it cannot be used for 'double spend'.