Introduction
The use of Cryptocurrencies unlocks financial freedom at otherwise unattainable levels. By improving market openness and regulatory efficiency, Cryptocurrencies unlock access to financial services for everyone and democratize wealth creation. In a world that is becoming more centralized by the day, cryptocurrencies have become a beacon of hope for the new generation of investors, especially those keen to retire young.
If you are tired of being monitored by the prying eyes of government regulators, are frustrated with the strongarm tactics of financial intermediaries who demand high fees before you can execute snail-paced transactions and subscribe to the creed of the “Financial Independence, Retire Early” (FIRE) Movement, this article is for you. Hold the Cryptocurrencies on this list for a while, and you will never have to work another day in your life.
Unlock your financial freedom and early retirement with these Cryptocurrencies.
Bitcoin
Bitcoin is a decentralized digital currency launched in January of 2009, two months after its creator, Satoshi Nakamoto, launched its whitepaper on 31 October 2008. What “decentralized” means is that Bitcoin is free from the control of any single centralized entity like a bank, a corporation, or a government. Bitcoin used peer-to-peer software and cryptography to facilitate transactions and operate transparently in place of a centralized entity.
Use Case
· Store of Value: Most Bitcoin holders use it to store wealth because Bitcoin is less susceptible to inflation than fiat currencies like the US Dollar.
· Investment Vehicle: Since Bitcoin is a deflationary currency, holders believe it will increase in value over time, making it a vehicle for wealth creation.
· Payment System: Some companies accept Bitcoin as a means of payment for goods and services.
· Collateral for certain DeFi services.
Where to Buy Bitcoin
Bitcoin is widely available on a variety of crypto exchanges:
Kraken
Bitrue
Binance
Ethereum
Launched in 2015 by Vitalik Buterin and other co-founders, Ethereum has become the silver to Bitcoin’s gold. It is ranked #2 behind Bitcoin and has similar functions to Bitcoin and other distinct features, such as its support for Decentralized Apps (dApps) and smart contracts. Ether (ETH) is a cryptocurrency native to the Ethereum network.
Apart from smart contracts, Ethereum allows developers across the globe to leverage its ERC-20 compatibility standard to build tokens of their own for their projects. There are currently more than 280,000 ERC-20 tokens in circulation worldwide, including famous names like USDT and BNB.
Use Case
· Store of Value: Like Bitcoin, ETH holders use it as a store of wealth.
· Investment Vehicle: Investors expect the market value of ETH to rise over time, so they hold on to it as a form of investment.
· Payment System: ETH is accepted as a means of payment for goods and services.
· DeFi: Ether can be used in dApps for staking, crypto lending and borrowing, and collateralization.
Where to Buy ETH
Ether is available on a variety of crypto exchanges:
Kraken
Deepcoin
Binance
Cardano
Unlike the coins above, Cardano is a relatively “modern” coin that adopts the proof-of-stake (PoS) blockchain mechanism in opposition to the proof-of-work mechanism used by Bitcoin and Ethereum because of the energy efficiency and lower costs faster transactions that PoS supports. Cardano says its primary aim is to enable changemakers, innovators and visionaries to bring about positive change on a global scale.
Use Case
· Store of Value: ADA holders use it as a store of wealth.
· Governance: Holders of ADA tokens have the right to participate in platform governance activities.
· Investment Vehicle: Investors who expect the market value of ADA to rise over time purchase and hold on to it as an investment.
· Payment System: ADA is accepted as a means of payment for goods and services.
· DeFi: ADA can also be used in dApps for staking or crypto lending and borrowing activities.
Where to Buy ADA
Follow the links below to buy ADA:
Kraken
Deepcoin
Binance
Decentraland (Mana)
Decentraland is a virtual reality platform built on Ethereum’s blockchain. Decentraland is a virtual world where players meet, play, and create experiences on the LAND they have purchased from the platform.
Decentraland was launched in 2017 and has grown dramatically ever since. The platform features a variety of assets, the most prominent of which are the 90,601 LAND NFTs and the native currency known as MANA.
Use Case
· Payment System: MANA is the native token of the Decentraland platform. It is used to make purchases on the platform’s marketplace.
· Investment Vehicle: There has been a lot of hype built around Decentraland, affecting MANA’s price. Investors holding onto MANA long-term do so because they believe it will rise in value.
· Governance: Holders of MANA are entitled to a vote on platform proposals
Where to Buy MANA
You can purchase MANA at any one of the following exchanges:
Binance
Bitrue
Deepcoin
XRP
Ripple is a global payment system platform that uses XRP as its native currency. Ripple was founded in 2012 under Ripple Labs Inc. by Chris Larsen and Jed McCaleb. The platform seeks to displace traditional money transfer service providers by offering a decentralized, cheaper, and significantly faster alternative.
Using XRP, people executing transfers can complete the transfers in as little as five seconds instead of the ten minutes required for transaction execution by Bitcoin and traditional payment systems like SWIFT.
Use Case
· Store of Value: Some holders keep their funds stored in XRP to avoid inflation.
· Investment Asset: As more people adopt XRP, the value will climb. Some XRP holders want to capitalize on the rise in value.
· Payment System: XRP is built for payments.
· Asset exchange.
Where to Buy XRP
You can purchase XRP in any one of the following exchanges:
· Kraken
· Bitrue
· Deepcoin
· Binance
CRO
The Cronos Chain is a solution from Crypto.com. The primary purpose of the Cronos Chain is to fast-track the adoption of digital currencies globally. Cronos (CRO), launched in 2018, is the native token of the Cronos Chain and plays a crucial role in Crypto.com’s financial services ecosystem.
Use Case
· Store of Value: Some CRO holders keep it as a store of wealth.
· Investment Asset: Investors who expect the market value of CRO to rise over time purchase and hold on to it as an investment.
· Payment System: CRO is accepted as a means of payment for goods and services.
· DeFi: CRO can also be used for staking or crypto lending and borrowing activities.
Where to Buy CRO
To buy CRO, visit these platforms:
Kraken
Bitget
Binance
BNB (Binance)
BNB was launched in 2017 by Binance, the foremost cryptocurrency exchange globally in daily trading volume. BNB is the cryptocurrency native to Binance. It trades with the BNB symbol and plays a crucial role in the Binance financial services ecosystem.
Use Case
· Store of Value: Since Binance backs BNB, savers have confidence that their savings will not be eroded by inflation.
· Investment Asset: Investors hold BNB to expect its value to rise in the long run.
· Payment System: Some people accept BNB as a means of payment for goods and services since there is minimal regulation of BNB unlocks financial freedom.
· DeFi: BNB can also be used for activities in the Binance ecosystem, such as staking, yield farming, or crypto lending and borrowing.
Where to Buy BNB
You can purchase BNB here:
Binance
Kraken
Deepcoin
Chainlink
Chainlink was founded in 2017. It is a decentralized oracle blockchain layer that enables blockchains to interact with off-chain data and integrate into complex smart contracts. Chainlink built a secure wall to defend decentralized applications from harmful attacks after they were readily compromised.
LINK is the Ethereum-based native token of the Chainlink network.
Use Case
LINK has a variety of use cases. They are as follows:
· Store of Value: Some holders use LINK as a long-term store of value.
· Investment Asset: Since LINK is projected to rise in value over time, investors hold LINK to profit from the rise in value.
· Payment System: LINK can be used as a medium for making payments. The platform’s partnership with SWIFT also bolsters this value proposition.
· DeFi: LINK can also be used for financial investments such as yield farming, which can be a vital tool if you want to retire young.
Where to Buy LINK
LINK is widely available. You can purchase it here:
Bitrue
Binance
Polygon (Matic)
Polygon is a proof-of-stake Layer 2 scaling solution whose primary purpose is to enable Ethereum scaling and infrastructure development to transform Ethereum into a multi-chain system. $MATIC token is the native token of the Polygon network and serves a variety of functions.
Use Case
· Store of Value: MATIC is used as a store of value by some investors.
· Governance: Holders of the MATIC token can participate in Polygon’s governance activities.
· Investment Asset: Future projections of a rise in the value of MATIC encourage investors to hold it long-term to aid an early retirement.
· Payment System: MATIC can be used as a payment method.
· DeFi: MATIC can also be used for financial investments such as lending and borrowing.
Where to Buy MATIC
You can purchase MATIC on the following exchanges:
Binance
Bitrue
Polkadot (Dot)
Polkadot is a multichain protocol that securely connects multiple blockchains to enable the smooth transfer of data and other asset types. Polkadot is positioning itself as a critical infrastructure provider and facilitator of interoperability for Web3.
Dot is the native token of the Polkadot network.
Use Case
· Store of Value: DOT is used to store value by some investors.
· Governance: Holding the DOT token gives the holder the right to participate in governance activities.
· Investment Asset: As Polkadot becomes more popular, DOT will rise in value.
· Payment System: DOT is a payment method.
· DeFi: DOT can be used for financial investments such as staking, which can continue to provide an income indefinitely after you retire young.
Where to Buy DOT
DOT is widely available; you can buy it here:
Binance
Deepcoin
Bitfinex
Cosmos (Atom)
Cosmos’ primary aim is to solve the four-headed monster bedeviling legacy crypto projects: slow speeds, high transaction costs, lack of scalability, and environmental damage resulting from project activities.
ATOM is the native cryptocurrency of the Cosmos network. It powers the network of blockchains in the Cosmos ecosystem.
Use Case
ATOM can be used for any of the following:
· Store of Value: ATOM is a store of value.
· Governance: ATOM token bestows the right to participate in governance activities on its holder.
· Investment Asset: ATOM will gradually increase value and lead to wealth creation.
· Payment System: ATOM is a payment method.
· DeFi: ATOM can be used for financial investments such as staking, which can be automated and aid an early retirement.
Where to Buy ATOM
ATOM can be purchased here:
Binance
KuCoin
Deepcoin
Related Article: 12 things to consider before opening a brokerage account to trade stocks or cryptocurrency.
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