Which Crypto Has The Best Use Case?
If you’ve ever wondered which crypto has the best use case, you’re not alone. Millions of crypto enthusiasts like you are starting to understand that only projects with real-life use cases are worth HODL-ing. So, before you head on to your crypto exchange to buy a coin, you should first find out if it’s worth the investment.
In this article, we will talk about four cryptocurrencies that you know have continued to gain wide acceptance and are gaining a lot recently. Not only that, but the price has the ability to grow exceedingly in both price and market value.
Cryptos with the best use case
Bitcoin is the first and the best! The future of money! It has revolutionized the money market entirely by creating a decentralized form of payment and store of value, and it is still gaining wide acceptance and serving as a medium of exchange globally.
Some of its uses cases include:
- It is a reliable digital asset with limited supply which makes it have a store of value similar to precious metals like gold. So, you can invest in this as it has a potential hedge against inflation and economic uncertainties.
- Bitcoin is a payment system which offers fast and borderless transactions, especially for international remittances and cross-border trade. Its underlying blockchain technology ensures secure and transparent transactions, eliminating the need for intermediaries and reducing transaction fees.
- It is used in streamlining processes like trade finance and settlement. The banking and finance sectors are gradually using Bitcoin for this purpose and exploring other potentials.
- Several E-commerce and Retail stores are using Bitcoin as a means of payment, providing their customers with a fast payment option.
Ethereum is currently the second-most valued crypto after Bitcoin. It’s completely unique in its use case as it enables decentralized apps and smart contracts. Ethereum is built on a special blockchain program that allows developers to make self-actionable agreements and smart contracts with predefined terms and conditions.
Some of its use cases are:
- With Ethereum, you can build DApps, which are applications that run on the Ethereum blockchain. Applications like voting systems, decentralized finance, supply management systems, and lots more.
- You can use Ethereum smart contracts for financial services like browwing, lending, yield farming, and lots more without the need for a traditional intermediary.
- Ethereum is also popular for creating and trading Non-Fungible Tokens (NFTs). So, artist, and creators can monetize their work in different ways.
- Another use case is in the tracking of goods, tracing their originality and authenticity on the blockchain in supply chain management.
Polygon is one of the fastest-growing cryptos and has quickly risen to the top 10 cryptocurrencies by market capitalization thanks partly to its capacity to develop cutting-edge applications for blockchain technology.
- For instance, Polygon and Walt Disney have already partnered with the long-term goal of creating new use cases within the entertainment industry.
- On a brand-new Web3 customer loyalty program, it has teamed up with Starbucks.
- Additionally, it has teamed up with Meta Platforms to bring NFTs to the attention of the billions of social media users who exist today.
- Polygon’s reduced transaction costs and latency helps gaming and virtual world platforms provide their users with a great and cost-efficient gaming experience.
- With Polygon, IInternet of Things (IoT) devices and machines can interact with each other frequently at an insignificant cost. an insignificant cost.
The fact that Polygon is an Ethereum scaling solution contributes to its popularity. Polygon makes use of Ethereum’s reliability and security before using its own cutting-edge technology to package transactions and provide end users with top-notch performance. Buterin commended Polygon’s “truly amazing” brand-new scaling technology in 2022. As a result, Polygon might be able to grow as quickly as Ethereum.
Binance is a cryptocurrency exchange that was introduced in 2017 and produces the utility token BNB. It contains elements from both the money and utility crypto types. Both inside and outside the network, BNB can be used to make purchases of goods and services.
- It is used in buying, selling, and trading several cryptocurrency with various trading pairs.
- It offers exchange services for spot, futures, and options trading.
- Binance contributes to the liquidity of the cryptocurrency market by attracting a large number of traders and providing an extensive range of trading pairs.
- Binance helps users make informed decisions about cryptocurrency by providing informational and educational resources.
Overall, Binance plays a crucial role in the cryptocurrency ecosystem by facilitating trading, providing various financial services, supporting innovative projects, and contributing to the growth and adoption of blockchain technology worldwide.
There are still plenty of other cryptos with high use cases aside from these ones. Many are growing exceedingly fast. Investing in any of them now that they’re still growing can be a form of long-term investment. It’s actually worth the chase. Cryptocurrencies may in the future take over bank transactions as they continue to gain wide acceptance. Leave all those shit coins and focus on the ones that are moving and worth investing.