You certainly know about bitcoin and ethereum, the most widely-used cryptocurrencies. But did you know that there are actually 1,500 different crypto ‘coins’ trading in and through the blockchain wallets? And some of them are downright bizarre. Consider Fonziecoin, Selfiecoin, Pizzacoin or the new-defunct President Johnson coin. The Kodak corporation has introduced KodakCoin as a way to pay photographers for digital usage, and the very-nearly-defunct Venezuelan government stands behind something called the ‘Petro.’ Something called the PotCoin, which is being promoted by former NBA basketballer Dennis Rodman, is designed to provide a decentralized banking infrastructure for the cannabis industry, joining CannabisCoin, KushCoin, Bongger, and Ganjacoinpro.
If you visit Russia, presumably after the current contratemps dies down, you will be able to buy Burger King Whoppers with Whoppercoin—and you’ll receive one coin for each ruble you spend. (It will cost 1,700 Whoppercoins to get a free burger.) Cat loves can ‘invest’ in Monacoin, Catcoin and Nyancoin—after the Nyan Cat meme. Or you can put your hard-won dollars in something called the Useless Ethereum Token, which features a hand flipping you the bird. Its website states “You’re going to give some random person on the internet money, and they’re going to take it and go buy stuff with it. Seriously, don’t buy these tokens.” One other interesting coin is the "Mooncoin", whose total coin supply is based on the average distance from the Earth to the Moon.
This article was written by an independent writer for Brewster Financial Planning LLC and is not intended as individualized legal or investment advice.