The Weirdest Alternatives in Cryptocurrencies
Cryptocurrency: the newest kid on the block with an almost unicorn-like aura surrounding it
Because of its anonymous nature and security features that make it difficult to counterfeit, as well as its immunity from government manipulation given its decentralization, cryptocurrencies have catapulted to the top of the list of currencies enabling money laundering, tax evasion and quick-buck-making.
Back in 2009, Bitcoin captured the public’s charm, becoming the first cryptocurrency to make it to the hall of fame, with more than 14.6 million Bitcoins -valued at $3.4 billion- being circulated as of September 2015. The outstanding success of Bitcoin served as a launch-pad for a number of competing cryptocurrencies, some more famous than others. Amongst the weirdest ones of all however, are the following five:
With a current market value nearing $21 million, Mooncoin lets investors monetize their likes by earning mooncoins when other investors like them as well. Forget doing research on companies and analyzing markets, like your way to financial freedom.
Unobtanium is this alt-coin’s full name, which is a term that merges fictional engineering with scientific thought, resulting in a rare and costly material. Only 250,000 UNO coins are to be mined over the course of 300 years, and only four exchanges deal with UNO. The small but loyal community trading UNO refers to it in terms of kilograms and mine it alongside Bitcoin.
Even for weird cryptocurrencies, the potato coin stands out amongst the rest. Not just for its weird name, but for the ambitious idea behind it which is to improve the conditions of African farmers and reduce their dependency on their nation’s fiat currency. The potato coin’s logo is adorned by a latin inscription that reads “potato is light, potato is life, potato is love.”
Originally issued as a joke currency in 2013 following a Shiba Inu meme with poor English, the Dogecoin has been making waves as a coin star ever since. With a $280 million market cap, the coin is no longer a joke, having sponsored NASDAQ race cars, a water well in Africa and an Olympic Jamaican bobsled team.
Seems as though this coin is as high on its ego as the celebrity it’s named after. Even after a cease-and-desist letter filed by Kanye West’s legal team, the coin decided to make a splash and was launched in 2014, though it dropped the West from its name. After a Hollywood-worthy release, West (the original) sued the alt-coin into ruin. Much like a child star, the coin still has its occasional appearance in some exchanges under the name “Coye/Koi”.