Sexcoin and other cryptocurrencies with unusual names

The cryptocurrency limelight is dominated by the big players Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP)

But with more than 1,500 cryptocurrencies listed on CoinMarketCap I thought it would be a good idea to a take a look beyond the big three.

As such, for your education and amusement, I’ve selected some cryptocurrencies with unusual names and unique motives to take a quick look at. They are not ranked in any particular order.

PutinCoin (PUT)

PutinCoin was created to pay “tribute to the people and the president of one of the largest and greatest” countries in the world, Russia.

The cryptocurrency’s founders stated the decision to develop a national crypto-currency for Russia was made “to support the very fast growing Russian economy and market within the country and beyond its borders”.

PutinCoin dropped about 6.6 per cent in the past 24 hours at the time of writing.

Sexcoin (SEX)

Sexcoin was developed as a “payment transaction system of the future for the adult industry”.

They say ‘sex sells’ but it seems the cryptocurrency for the future may be ahead of its time, having shed about 25 per cent of its value in the past 24 hours.

PonziCoin (PONZI)

PonziCoin, a contender for my personal favourite, is “the world’s first transparent, decentralised Ponzi Scheme built on the blockchain,” according to its founders.

While the price of Bitcoin has plunged lately, PonziCoin’s market value has more than tripled in the last couple of months.

Gay Money (GAY)

Gay Money claims to be the first cryptocurrency built “for the LGBT community by the LGBT community”.

Gay Money surged in May last year but its value has been dropping since then, shedding another 18 per cent in the last 24 hours.

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Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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