What Would be They Called if We were to Rename Cryptocurrencies as Beverages?
1. Bitcoin
Everyone who is even remotely familiar with cryptocurrencies will surely know about Bitcoin. As the first cryptocurrency that has seen a massive appreciation in its prices since its launch almost a decade ago, Bitcoin is a firm favourite of practically every crypto investor. If we were to see cryptocurrencies as beverages, Bitcoin would be Budweiser. Just like the beer, Bitcoin isn’t the latest market sensation. But having been around for so long, people know what they would get if they were to put money into Bitcoin. Bitcoin’s reliability is its strongest suit.
Also, Bitcoin’s launch opened the floodgates for many other cryptocurrencies. In that regard, it is similar to Budweiser, which itself is a trendsetter. Moreover, the company that launched Budweiser, Anheuser-Busch, also introduced several other beers and brands. Thus, Bitcoin is quite similar to Budweiser.
2. Litecoin
If you’ve kept yourself abreast of crypto news, you would know that Litecoin’s founder Charlie Lee launched it to overcome some of the limitations of Bitcoin. Although not as popular as Bitcoin, Litecoin has a significant user base. In that regard, it can be compared to Bud Light, which is a lower-calorie alternative to Budweiser.
Of course, Bud Light doesn’t have all the features of Budweiser, but its popularity has propelled substantially in the last few years. Its usability and mass appeal has helped it gain significant traction in the crypto world. Try comparing Litecoin’s ability to carry out transaction four times faster than Bitcoin to understand why I’ve made this analogy.
3. Ethereum
Ever since its launch in 2015, Ethereum took the crypto world by storm. Not only did it provide investors with an alternative to Bitcoin, but also provided the developer community with a blockchain development platform where they could build more cryptocurrencies. It acted as the foundation for a plethora of ICOs built on its blockchain. If cryptocurrencies were beverages, Ethereum would be Nescafe.
When Nescafe was launched, there were already established players like Farmer Brothers against which Nescafe had to compete. But the range of flavours that it introduced soon got Nescafe going and helped it gain a substantial consumer base. In that way, Nescafe’s multiple flavours are similar to Ethereum’s blockchain that hosts many other cryptocurrencies.
4. Cardano
Cardano is a late entrant to the crypto world. But make no mistake, Cardano already has hundreds and thousands of takers. Not only does it outshine Bitcoin due to its ability to provide developers with a platform to build dApps and smart contracts, but also eclipses Ethereum by solving the three core issues that blockchain projects grapple with, i.e. sustainability, scalability and interoperability. If I were to rename cryptocurrencies as beverages, I’d liken Cardano to Starbucks.
Starbucks was launched much later than Nescafe, but it has a much significant presence than other brands. Starbucks has made a reputation for itself as a customer-friendly brand that offers exceptional services. Now try comparing that with Cardano’s ability to carry out time-consuming international payment transfers in a matter of seconds.
Final Thoughts
So, did your favourite cryptocurrency find a mention in the list? No? Nothing to be depressed about. One can always rename cryptocurrencies as beverages I see no harm to it. On the contrary, it would only lift the spirits of crypto investors who would love to see their favourite cryptocurrencies perform as well as some of these beverages.
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