Navigating the diverse landscape of digital assets in the fast-paced world of cryptocurrencies can be overwhelming for beginners. This guide serves as a foundational introduction to key cryptocurrency brands and names every newcomer should be familiar with. From Bitcoin to Obyte, spanning exchanges and influential figures, understanding these essential players is your first step toward becoming a confident crypto holder.
Cryptocurrency Exchanges
Exchanges are among the most popular services in the crypto industry. Globally, there are over 665 cryptocurrency exchanges, including both centralized and decentralized platforms. Below are the top three ranked by daily trading volume, trustworthiness, and CMC score:
Binance
Founded by Changpeng Zhao (CZ) in 2017, Binance is the world’s largest cryptocurrency exchange by trading volume as of 2023. Originating in China, it currently operates without an official headquarters. The platform supports 386 tokens and handles approximately $4.9 billion in daily trading volume. Beyond trading, Binance is closely tied to BNB Chain (a smart contract and DApp platform) and owns brands like Trust Wallet and CoinMarketCap (CMC).
Coinbase
Established in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is a US-based exchange offering a user-friendly platform for buying, selling, and storing around 245 cryptocurrencies. It processes over $837 million in daily transactions. The company also holds stakes in brands like Earn.com, Cipher Browser, and BRD Wallet.
Kraken
One of the earliest cryptocurrency exchanges, Kraken was founded in 2011 by Jesse Powell in the US. It supports trading for approximately 239 coins, with a daily trading volume exceeding $570 million. However, it has faced criticism for its regulatory challenges.
Other Notable Exchanges
Other popular exchanges include KuCoin (Hong Kong), Bybit (UAE), OKX (Seychelles), Bitstamp (Luxembourg), Bitfinex (Hong Kong), Gate.io (Cayman Islands), and MEXC (Singapore). While headquartered in various regions, most operate globally. For example, you can exchange GBYTE on Bittrex, but only outside the US.
Stablecoins
Many users seek to avoid the volatility inherent in traditional cryptocurrencies or explore other asset-backed tokens (e.g., gold-pegged). Stablecoins address this need by maintaining a 1:1 peg to another asset, offering relative price stability over the long term.
Tether (USDT)
Launched in 2014, USDT is the most widely used stablecoin, pegged 1:1 to the USD. Issued by Tether Limited (a subsidiary of iFinex Inc., which also owns Bitfinex), USDT is fully centralized, allowing for freezing and transaction censorship. Its market cap exceeds $83.5 billion.
USD Coin (USDC)
Released in 2018 by Centre (a consortium led by Circle and Coinbase), USDC is also pegged 1:1 to the USD via Circle’s reserves. Known for strict compliance, USDC has a market cap of $25.2 billion as of October 2023.
Dai (DAI)
Introduced by MakerDAO in 2017, DAI is a decentralized stablecoin running on Ethereum. Its value is algorithmically maintained near $1 USD through collateralized assets and smart contracts. Unlike USDT or USDC, DAI cannot be frozen or censored, making it a favorite in DeFi. Its market cap stands at $5.3 billion.
More Stablecoins
Other USD-pegged options include TrueUSD, Pax Dollar, and Binance USD. Non-USD stablecoins (e.g., gold-backed PAXG or euro-linked EURS) are less common but available on niche platforms.
Multi-Chain Wallets
Decentralized networks often require native apps or nodes to manage coins. Multi-chain wallets simplify this by supporting multiple assets in one place. Here are some top choices:
Blockchain.com
Launched in 2012, this custodial hot wallet supports a wide range of assets but does not provide private keys. Its parent company also runs a popular blockchain explorer.
Exodus
A non-custodial wallet released in 2015, Exodus offers desktop, mobile, and hardware compatibility with full private key control.
Trezor
Founded in 2013, Trezor is a hardware wallet storing keys offline for enhanced security. It supports numerous cryptocurrencies and features an intuitive interface.
Other Wallets
Options like Trust Wallet (non-custodial), Ledger (hardware), and Coinomi (multi-asset) cater to diverse needs.
Foundations Supporting Crypto Projects
Many decentralized cryptocurrencies are backed by non-profit foundations. Examples include:
Litecoin Foundation
Founded by Charlie Lee in 2011, this Singapore-registered organization promotes Litecoin (LTC) through education and development. It’s among the oldest active crypto foundations.
Ethereum Foundation
Established in 2014 by Vitalik Buterin and others, this Swiss non-profit supports Ethereum’s growth via grants and initiatives without controlling the network.
Obyte Foundation
Based in Liechtenstein, this foundation funds Obyte’s development by distributing unallocated coins to promising projects.
👉 Discover the top tools for crypto beginners
FAQ
1. What is the safest cryptocurrency exchange?
Binance and Coinbase are among the most trusted, but security depends on practices like enabling 2FA and using cold storage.
2. Are stablecoins truly stable?
While designed for stability, events like depegging (e.g., USDC’s temporary drop in 2023) can occur. Always research the issuer’s reserves.
3. Should I use a hot or cold wallet?
Hot wallets (online) are convenient for frequent trading, but cold wallets (offline) offer superior security for long-term holdings.
In Part 2, we’ll cover development firms, crypto portals, metaverses, NFT brands, and blacklisted entities. Stay tuned!