We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
What do Vladimir Putin and Burger King have in common?
For starters, they both have a cryptocurrency named after them. Actually, PutinCoin and Whoppercoin might be the only thing they have in common. But their namesake cryptocurrencies are among the thousands of different virtual currencies making up a growing marketplace grabbing investors’ attention.
Cryptocurrencies like Bitcoin and Ethereum have a growing track record of holding and increasing in value over time, though recent dips have wracked the market, while lesser-known cryptos are considered much more speculative and unpredictable. And while PutinCoin and Whoppercoin belong to a category of cryptocurrencies marked more for their absurdity than their potential as either an investment or cryptocurrency, they show just how unique different types of cryptocurrencies can be.
Here’s Where to Start:
In general, cryptocurrencies can be grouped by utility: What is the purpose of the cryptocurrency? What is its value proposition? What is it for?
“They all have different utilities, they all have different founders who have different visions for where that cryptocurrency is going,” says Mike Uehlein, founder and financial planner of WealthU advisors. Uehlein regularly talks to clients about investing