Robinhood Markets Inc. included four new cryptocurrencies on its platform, including the Shiba Inu coin, in a win for proponents who had long argued in favor of the joke token becoming available for trading. Robinhood is beefing up its cryptocurrency capabilities. It now allows customers to buy cryptocurrencies with no commissions automatically on a scheduled basis. Robinhood opened up a waitlist for its crypto wallets and more than 1 million customers have signed up so far. This article features the top 10 cryptocurrencies along with Shiba Inu to buy in Robinhood.
Shiba Inu (SHIB) is an Ethereum-based token that was launched as an alternative to Dogecoin (DOGE) in August 2020 by an anonymous person or group under the name Ryoshi. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM).
Bitcoin (BTC) was founded in 2008 by a pseudonymous person or group calling themselves Satoshi Nakamoto. Bitcoin is a digital currency that doesn't rely on intermediaries or governments to facilitate peer-to-peer transactions. The maximum amount of bitcoin that can ever exist is 21 million. Bitcoin is divisible by eight decimal places. It is one of the best cryptocurrencies along with Shiba Inu to buy in Robinhood.
Bitcoin Cash (BCH) was created in 2017 as a result of a spinoff (a.k.a. a "hard fork") of Bitcoin. Bitcoin Cash has a larger block size than Bitcoin, allowing more transactions to be processed. Like Bitcoin, Bitcoin Cash is a digital currency that can be used for peer-to-peer transactions. The maximum amount of BCH that can ever exist is 21 million.
Compound is an algorithmic, autonomous interest rate protocol built for developers to create open financial applications. It was created in 2017 by entrepreneurs Robert Leshner and Geoffrey Hayes. Compound allows users to earn interest by depositing crypto into lending pools that can be accessed by borrowers. It is one of the best cryptocurrencies along with Shiba Inu to buy in Robinhood.
Dogecoin (DOGE) was founded by software engineers Billy Markus and Jackson Palmer and was launched in 2013. Dogecoin was created to make digital currency more fun, friendly, and approachable. Similar to bitcoin, dogecoin is a digital currency that can be used for peer-to-peer transactions. There is currently no hard cap on the total supply of DOGE.
Ethereum (ETH) was launched in 2015. Ethereum is a decentralized blockchain that supports smart contracts-essentially computer programs-that can automatically execute when certain conditions are met. The native cryptocurrency-essentially computer programs of the platform are called ether or Ethereum. It is one of the best cryptocurrencies along with Shiba Inu to buy in Robinhood.
Ethereum Classic (ETC) was created in 2016 as the result of a spinoff (a.k.a. a "hard fork") of the original Ethereum network. Like Ethereum, Ethereum Classic is a decentralized computing network that supports smart contracts-essentially computer programs-that can automatically execute when certain conditions are met.
Litecoin (LTC) was founded by Charlie Lee in 2011 and is a spinoff of Bitcoin. Similar to bitcoin, Litecoin is a digital currency that can be used for peer-to-peer transactions. Litecoin confirms transactions every 2.5 minutes as opposed to bitcoin's every 10 minutes. It is one of the best cryptocurrencies along with Shiba Inu to buy in Robinhood.
Polygon (previously Matic Network) is a decentralized Ethereum scaling platform that enables developers to build user-friendly apps with low transaction fees. Polygon claims to be able to process up to 65,000 transactions per second with network fees of a fraction of a cent. The native token used to pay for transaction fees on Polygon is called MATIC, which has a maximum total supply of 10 billion.
Solana is a decentralized blockchain built to enable scalable, user-friendly apps that were launched in 2017 by the Geneva-based Solana Foundation and San Francisco-based Solana Labs. Solana can theoretically process up to 65,000 transactions per second with low fees by combining proof-of-stake and proof-of-history consensus mechanisms. It is one of the best cryptocurrencies along with Shiba Inu to buy in Robinhood.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.