Sometimes I just real updates to platforms and shake my head in bewilderment. Today was easily one of those days as when I went to check some coin prices I saw something i never imagined.
Dogecoins meme coin, Shiba Inu (SHIB), was added to the platform. Now I am not one to bash a crypto because it’s essentially worthless what I am more shocked at and disappointed in as there are so many other deserving cryptos getting passed up for this junk one. To their credit Coinbase has done an amazing job this year adding new tokens at a break neck pace but this one was just the wrong move.
Other tokens that deserve the spot that SHIB took include some fascinating project that are really booming like Helium (HNT), NANO, FLOW, and Avalanche! Each one of the ones I mentioned has a use case and is pretty popular in their own right. Sadly though in the quest to get more and more transactions Coinbase chose a coin with no function.
Helium (HNT) for instance is a super cool project that is essentially a wifi router that by setting up “mines” HNT! This is done via a protocol called Proof of Coverage and this is done to make sure your hotspot is on and active! They recently had their first halving event and the projects value has exploded!
NANO might be one of my favorite cryptos for transferring crypto. Nano is instant and FEELESS!!! The protocol does not charge you a fee for transactions how amazing is that! The whole blockchain came even be powered by a single wind turbine. Now it has had a prior issue with a 51% attack but as a crypto to move money between wallets it is the cheapest and fastest!
FLOW I have never interacted with but it does host the NFT platform for NBA Top Shots which I feel gave NFT’s a huge boost this summer! Flow was created by Dapper Labs and I am sure they are going to have some amazing more projects role out soon!
Lastly is Avalanche which is another blockchain that has been having quite a buzz with its NFT side. Recently TOPPS released another set of NFT cards on it called the Inception Series. Why Topps chose to launch on them after already launching its first MLB NFT Series One card set on WAX I do not know but that is another one that Coinbase could have partnered up with. NFT market places are hot so transactions are there to be had!
Hopefully the next few coin/tokens are more applicable to what I am trying to add to my portfolio. Heck I would even take them adding AMPL so I have another easy place to deposit it beside KuCoin. I don’t have anything against KuCoin I just hate their crazy high withdrawal fees!