Making Sense of Non Mineable Cryptocurrencies
When it comes to cryptocurrencies, you are of course going to find a huge number of them available; some of them are what you could best call standalone cryptocurrencies that have their own blockchain and design, whilst you will also come across coins and tokens too.
Coin and tokens are simply a cryptocurrency within a cryptocurrency, and as such anyone can generate their own coin or token and it will be built on top of one of the major cryptocurrencies and the supporting blockchain too.
Take for example Ethereum and Waves, both of those two cryptocurrencies allow anyone to generate their own coins and tokens built on their respective blockchain, and whilst those coins and tokens will have a value set by the person generating them, their true value lays in what they are going to be used for.
However, there are two main types of cryptocurrencies coins and tokens and they are mineable ones or ones that cannot be re-issued or mined, meaning the supply of the former them can grow and more are mined or created, and the latter are non mineable cryptocurrencies coins and tokens, and the supply and number of their coins and tokens of those cryptocurrencies are set in stone once they launch.
There are pros and cons of both mineable and non mineable tokens coins and cryptocurrencies, with mineable ones you are going to have miners who will obviously mine for them and they will get actively involved in them for the rewards of discovering new coins or tokens.
Many people however prefer investing in non mineable coins and tokens and cryptocurrencies, as they then have the peace of mind in knowing the value of their holdings are not going to be diluted over time.
Popular Non Mineable Cryptocurrencies
As of today, a total of twelve of the largest and most popular cryptocurrencies by market capital are non mineable tokens and coins and as such you can see they are very popular with investors and users.
As such if you are thinking about investing in such a digital asset then please allow me to introduce you to some of the much more popular non mineable ones, as some of them may just be of interest to you.
Probably the best known non minable cryptocurrency is Ripple the ticker symbol for Ripple is XRP and to be fair to that cryptocurrency its value is low, currently at the time of compiling this new story one Ripple could be purchased for $0.95.
The value of one Neo is $142, or it was at time of putting this listing together, and that is yet another non mineable cryptocurrency, but one that doesn’t have a huge number of tokens as there are only 65,000,000 of them in existence.
Another low cost cryptocurrency is Cardano, and which can be purchased for $0.33 per coin, so if you are looking for a top 10 cryptocurrency by market value that may just be one to consider using.
Initial Coin Offering and Token Generation Events
If cost is one defining factor as to which cryptocurrencies you do consider investing in, then it may just pay dividends or you to consider making an investment in a brand new coin or token that is about to launch.
Many initial coin offerings and token generation events will be designed in such a way that only a set number of coins or tokens will be generated and the number of coins or tokens will never increase.
Such offerings and generation events are proving to be very popular with investors, for those investing early pay just a tiny amount of cash or their holding and often for showing faith in the concept behind the coin or token they are rewarded with bonus coins and tokens too.
However, it should be pointed out that investing in any initial coin offering or token generation event is risky, as there are never any guarantees the coins or tokens will increase in price.
But if there is a sound business or concept behind the idea, then their values could, and often very quickly start to increase, and that is where those early investors are going to make a profit if they then decide to sell off their coins and tokens.
It is of course up to you and you alone whether you invest in mineable or non minable cryptocurrencies, but make no mistake about it, there are plenty of them available so spend some time looking through the ones that appeal to you the most is my advice.