You asked for more cryptocurrencies, so we listened. We tracked down the hottest tokens and top movers – and we’re bringing them to you.
As of right now, you can hold and trade these new cryptocurrencies in the Revolut app: Cardano, Uniswap, Bancor, OmiseGo, Synthetix, Filecoin, Numerai, Loopring, Orchid, 0x, Tezos, EOS, Yearn Finance, Uma and The Graph. That’s a pretty good haul!
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For the budding cryptonauts amongst us, we’d like to remind you that the prices of crypto can be very volatile and that there are risks involved when buying or selling crypto. Your capital is at risk, so please consider your personal circumstances before getting involved.
Here’s the low down on our 15 new tokens 🌕
It’s always a good idea to do your own research before buying crypto. To get you started, we’ve provided a little background on our new tokens. If you’re new to crypto, token descriptions can sound a bit, well, cryptic, so you might want to brush on the crypto basics first. Right, let’s jump in. In alphabetical order, we have:
ADA is the token which powers the Cardano blockchain. It relies on a proof-of-stake consensus model called Ouroboros. Cardano validates blockchain transactions without high energy costs. Read more on their website.
BNT is an Ethereum token powering the Bancor Protocol. The protocol aims to allow crypto assets that would have been traditionally difficult to trade due to low liquidity to be exchanged directly on-chain. Bancor does this by enabling automatic price determination and an autonomous liquidity mechanism for tokens on smart contract blockchains. Read more on their website.
EOS is a blockchain-based system that enables the development, hosting and execution of decentralized applications (called “dApps”) on its platform. EOS focuses on critical pain-points of blockchain and attempts to solve the problem of speed, scalability, and flexibility that often become a bottleneck for dApps. Read more on their website.
FIL is the native protocol token of the Filecoin network. Filecoin is a decentralised storage network which aims to let anyone host, store, or receive digital information. It turns cloud storage into a market and allows users to sell their excess storage on an open platform. Read more on their website. Read more on their website.
The Graph (GRT)
GRT is the Ethereum token that powers the Graph Network. It’s an indexing protocol for querying which aims to allow users to efficiently query blockchain data without relying on a centralised service provider. Similar to how Google indexes the web, The Graph indexes blockchain data. Read more on their website.
LRC is an Ethereum token supporting the Loopring protocol. The protocol is a collection of Ethereum smart contracts which describe how to build highly-secure, highly-scalable orderbook-based decentralised exchanges, automated market makers, and payment apps. The goal of Loopring is to promote decentralisation and reduce user reliance on traditionally centralised services such as exchanges and help enable global liquid markets. Read more on their website.
NMR is an Ethereum token. Numerai is a crowd-sourced, AI-run investment firm which allows the public to submit machine learning models to predict stock prices. These crowd-sourced models are ranked weekly in what Numerai calls “the hardest data science tournament on the planet”. Winners are rewarded with NMR, an Ethereum token. Read more on their website.
The vision of Omise is to integrate multiple electronic wallets using the OmiseGo blockchain. Over time, as more e-wallet providers are added to the network, and more of the crypto assets they issue can be exchanged on a blockchain, OmiseGo believes it could help provide banking services to those who have been excluded from the financial system. This means every time you use an OmiseGo contract, you need to pay in OMG, which is then distributed to nodes on the network that enforce contracts according to the rules. Read more on their website.
OXT is an Ethereum token which powers the Orchid network. Orchid focuses on enabling a decentralised virtual private network (VPN). Users who want to use the network to maintain their privacy whilst using the internet can use OXT to buy bandwidth from sellers listed on a provider directory stored on an Ethereum smart contract. Read more on their website.
Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralised by the Synthetix Network Token, SNX. SNX is an Ethereum token which enables the issuance of synthetic assets known as Synths. Synths allow real-world currencies, commodities, stocks, and indices to be represented directly on the blockchain. Read more on their website.
UMA is a financial contracts platform and Ethereum token built to enable Universal Market Access on Ethereum. The platform focuses on "priceless" financial contract templates - contracts that don't require an on-chain price feed to function. They can be used to create synthetic tokens and Data Verification Mechanism (DVM), an optimistic oracle service. Together, these two technologies enable the creation of fast, efficient, and secure synthetic derivatives on the Ethereum blockchain. Read more on their website.
UNI is an Ethereum token that powers Uniswap, an exchange that allows users to easily trade different Ethereum assets in a decentralised manner. It uses an automated market making system rather than a traditional order book. Read more on their website.
XTZ is a blockchain network linked to a digital token, which is called a tez or a tezzie. Tezos isn’t based on the mining of tez. Instead, token holders receive a reward for taking part in the proof-of-stake consensus mechanism. The term “Tezos” is ancient Greek for “smart-contract,” according to the developers. Read more on their website.
Yearn Finance (YFI)
YFI is an Ethereum token that governs the Yearn Finance platform. Yearn Finance is a suite of products that provide lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders. Read more on their website.
ZRX is one of the most high-profile ‘decentralised exchanges’ (as opposed to a ‘centralised exchange’ like Coinbase). 0x allows developers to build their own cryptocurrency exchanges. The company’s founder refers to his solution as the “Craigslist for cryptocurrencies” in that any developer can build their own cryptocurrency exchange and post it online. The 0x coin is an ERC-20 token that provides a platform with an ability to support all of the tokens issued with the Ethereum blockchain. Read more on their website.
The information here is correct at the time of writing on 13 July 2021. Check out Nomics to get updated data on all of our new tokens. While we believe in crypto accessibility for all, we also know that it might not be appropriate for everyone. Please do your research before committing to a purchase or sale.
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