Crypto wallets are divided into custodial and non-custodial. Non-custodial ones are “hot”: desktop, mobile, online - and “cold”: hardware and paper. Below we will analyze each of these types.

Bitcoin (BTC) is the first and most popular cryptocurrency in the world. Bitcoins are not tied to any asset; their price depends on demand. For example, in January 2016, Bitcoin was priced at $215.90, and in March 2023, it was priced at $23,329.

Ether is a cryptocurrency that is often called Ethereum, although this is not entirely true. Ether is a currency, and Ethereum is the blockchain platform within which it circulates.

Ether is used as a means of payment within the platform and as an investment method. For example, in 2017 Ether was worth $10.72, and in 2023 it was $1,634.50.

Coins created for payments. You can invest in them or spend them on paying for goods and services. The most popular currency is Bitcoin (BTC).

Functional coins of blockchain platforms. The most famous crypto coin of this kind is Ethereum. It supports smart contracts, so many applications and games run on its blockchain platform.

Internal tokens of the trading platform. This is the digital currency of a crypto exchange. Issued only by large exchanges. Most often, internal tokens are used to pay exchange fees or transaction fees. Popular examples include Binance Coin (BNB) and EXMO Coin (EXM).

Utility tokens. They are produced in limited quantities to attract investment into the project. Once a project is launched, utility tokens are used to manage it: token holders can participate in decisions about the development of the platform. This encourages them not to sell currency.

For example, the Uniswap project issued UNI tokens to attract investments at the initial stage. Now Uniswap has become the largest of the decentralized exchanges, and UNI owners have gained an advantage on it.

Crypto product. A separate type of asset is NFT, or non-fungible tokens. If one Bitcoin is always equal to another Bitcoin, then it doesn’t work that way with NFTs. Each token is unique and has its own demand and price. Works of art, objects for blockchain games, and much more are released in the form of NFTs. You can read more about this in the article about NFTs.

Stablecoins. They are tied to a physical asset and are equal to its value. Therefore, they are used as a means of payment and savings. The most famous stablecoin is Tether (USDT). Its price is equal to the value of the dollar - the difference does not exceed 1%.

The term “cryptocurrency” was established after the publication of an article about the Bitcoin system “Crypto currency”, published in 2011 in Forbes magazine.

At the same time, the creator of Bitcoin and many other authors used the term “electronic cash.”

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