How Many Types of Cryptocurrency Are There?
Cryptocurrency types have no official count; new ones launch as others stop trading, and trackers group them by use case, such as payments, stablecoins.
Vahe HakobyanEditor-in-chief
Updated Oct 5, 20263 min readFact-checked
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- Coins run on their own blockchains; tokens use existing ones.
- A token standard tells compatible wallets how to handle a token.
- Trackers group cryptos by use case, such as payments or stablecoins.
- The IRS treats crypto as property, so keep tax records.
- Explorers show which network a project runs on.
You can work out how many types of cryptocurrency exist by checking market trackers and blockchain explorers. You need no account or special software to start. Many tokens run on the Ethereum blockchain.
What Counts as a Cryptocurrency?
There is no single official count of cryptocurrency types. New projects launch while others stop trading. To see current numbers, check market-data sites and blockchain explorers. The label covers two broad groups: a coin runs on its own blockchain, while a token uses a blockchain someone else built.
How Do You Check Current Types?
No group keeps an official registry, so every count comes from a tracker's own list. Sites add and remove projects as they appear and stop trading. Two trackers can show different totals on the same day.
- 1Open a market trackerIts list shows the assets it counts today and the labels it uses.
- 2Read the token standardA standard such as ERC-20 tells compatible wallets and exchanges how to handle a token.
- 3Compare use-case groupsTrackers sort assets into payments, stablecoins, and other groups.
- 4Check a blockchain explorerIt shows activity on one network, so you can see which chain a project uses.
What Should You Do After Researching?
After you compare a few types, keep records and protect access to your wallet. The IRS treats cryptocurrency as property, so a sale or trade usually carries tax. Note the date, the amount, and the dollar value of each transaction. Also secure your wallet recovery phrase.
Frequently asked questions
Each tracker chooses which assets to list and updates on its own schedule. One site may count a token that another leaves out.
Look for a public team, reviewed code, and a working use for the token. A copied name or ticker is a common warning sign.
It is a program that runs on a blockchain and acts on its own when set conditions are met. Ethereum is a common platform for them.
