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Practical Use Makes Cryptocurrency Valuable - Top 5 Usable Altcoins

Mary Callahan Jun 29, 2019
The cryptocurrency industry is exciting in both the tech and finance terms. It is changing the way we use money and showing just how much of an impact technology can have in that market.

Cryptocurrency and blockchain can provide various advantages in the space such as increased security, better transaction speed, lower fees and decentralization.
While everyone knows about Bitcoin, there are tons of other altcoins that exist out there in the world. However, not all coins are usable. Some coins are simply held as an investment and don’t have any real use cases.
While this is fine for investors, that isn’t so much the case for those looking to actually use cryptocurrencies for a variety of purposes.

With that in mind, this story is going to take a closer look at 5 different altcoins and cryptocurrencies that have practical uses today.

XRP

The current XRP/USD price is $0.39. Since 2012, XRP has aimed to improve the mess that is international payments and remittances.

Normally, traditional methods of sending international payments include a ton of fees, a slow process and the use of several “middlemen”. XRP is looking to end that and make international payments much more efficient.
Banks can use XRP to make international payments in a tiny portion of the time that it would have taken them in the past. It can also help banks make these payments without a central counterparty.

The use cases when it comes to XRP are obvious, as they can lower fees and speed up the transaction times for international payments.
With more and more banks showing interest in blockchain, don’t be shocked to see XRP continue getting larger and more useful for banks and individuals alike.

Binance Coin (BNB)

The current BNB/USDprice is $31.95. As you could imagine, this coin was created by the team at Binance, which is one of the largest cryptocurrency exchanges and trading platforms on the planet today. It acts as the utility token for the Binance ecosystem.
One of the primary uses of BNB is to get discounts on the trading fees within Binance.

If you use BNB to pay your trading fees, you get a massive 50% discount than if you use traditional means to pay the fee. This is very valuable to users, especially those making frequent trades.
Of course, the coin can simply be held as an investment if you wish and can also allow people to partake in token launches.
With such a simple idea, and one that provides clear and measurable value to its users, this coin definitely deserves a spot on this list.

Also, in addition to being usable, the Binance Coin is one of the fastest-growing cryptocurrencies on the planet in 2019.

IOTA

The current MIOTA/USD price is $0.42. One of the most exciting areas of the technologically advanced world is the Internet of Things (IoT). IoT is the network of interconnected devices that are able to send/receive information and data to each other.

Examples include your phone connecting to your car, or your virtual speaker connecting to an app you have.
While this is already a big part of our lives, it is only going to get bigger. Soon, billions of devices will be interconnected and be able to automatically send and receive data.

A cryptocurrency looking to be the leader in the world of IoT is IOTA. IOTA has been around for a couple of years and boasts completely free transactions.
It is one of the few currencies to offer that benefit and it could forever change how people make payments.

By offering free transactions, the sky is the limit when it comes to usability as it will solve a fee problem that exists with most cryptocurrencies.

Basic Attention Token (BAT)

The current BAT/USD price is $0.32. With the growth of the Internet, digital advertising has become important to nearly every business out there.

However, the industry hasn’t experienced a lot of growth or change in recent years, until now. The Basic Attention Token (BAT) hopes to change all of that forever.
This cryptocurrency will be paid to users for watching ads. In the past, there was no real incentive for people to watch ads, and the BAT token has changed that.
Most revenue in traditional advertising goes either to the publisher, or to the platform where the content is published. The coin provides value to everyone, and is a better and more optimized type of digital advertising.
While its major use is as a reward for both people browsing the Internet and those creating or publishing content, we could eventually see it evolve into something much larger.

But for now, the fact that you can earn money by watching the ads is a valid reason for people to give it a try.

EOS

The current EOS/USD price is $6.24. EOS was launched around a year ago, but has already made some huge impact on the industry.

It is an infrastructure for decentralized apps, and claims to be faster, more scalable and cheaper than other popular options like Ethereum.
All different types of apps can be created on the platform. The great news is that people don’t actually need to spend the EOS tokens to create, build and host their apps, they simply need to hold or own them.
EOS is revolutionary in a number of other ways too, so it is no surprise that it had the largest ICO ever at over $4 billion.

For example, there is no mining mechanism when it comes to issuing coins. Instead, there are block producers that are rewarded for generating blocks - they are ‘appointed’ by the voting system.
As you can see, there are many things that point to EOS being an exciting and usable cryptocurrency to keep your eyes on.
In conclusion, we hope that this story has been able to help you learn about some of the most usable altcoins on the market today.

Of course, before you ever invest in any of these coins (or any cryptocurrency for that matter), be sure to perform your own research.