Top 5 Most Green Cryptocurrency

Are you thinking of investing in cryptocurrency? Are you looking for ways to spend your money on sustainable and eco-friendly products?

If the answer is yes to both, then you’ll want to consider investing in green cryptocurrency.

If you follow the latest in finance and investment, then you’ve probably heard about cryptocurrency. Compared to the traditional stocks that past generations have been used to, cryptocurrency is relatively new. There’s still a lot to learn about this medium of exchange and a lot of debate over which type to invest in (or whether you should invest at all!). And if you’re a newbie to the world of crypto, you may only be thinking about the value of the cryptocurrency you’d want to invest in and the type of web3 browser to use. But while cryptocurrency transactions are all digital, some are more “green” than others.

How Can Cryptocurrency Impact the Environment?

Not a lot of people may be aware, but cryptocurrencies can negatively impact the environment. Yes, there are fewer paper trails because everything’s done digitally. However, the processes of mining cryptocurrency and validating transactions require energy—and lots of it. For example, mining Bitcoin (BTC), the first and most widely-known cryptocurrency, produces around 36 kilotons of e-waste annually. Bitcoin also requires a lot of energy to produce, resulting in a higher carbon footprint.

The Top 5 Most Green Cryptocurrency for Your Consideration

Those who want to live a greener life should also consider the environmental impact of their investments. Making smart investments doesn’t just mean putting your money on cryptocurrencies that will give you the most returns. It should also be aligned with your own sustainable living goals.

Calculating a cryptocurrency’s environmental impact can be challenging given the many factors and trade processes that come into play. But below is a list of the sustainable blockchain options that are known to use less energy and even support environmentally friendly initiatives. The list isn’t exhaustive, but here are the top five green cryptocurrencies for your consideration.

Cardano (ADA)

This green and eco-friendly cryptocurrency was developed by, Charles Hoskinson, the cofounder of Ethereum (ETH), the second-biggest cryptocurrency as of writing. Cardano’s proof-of-stake system called Ouroboros is more energy efficient than traditional cryptocurrencies and doesn’t rely on mining, which uses thousands of powerful but energy-intensive computers. As per its developers, its network only consumes 6 GWh of power. It has the benefits and efficiency of Ethereum but without consuming a large amount of energy.

SolarCoin (SLR)

SolarCoin is a great option for those who want to invest while conserving energy. SolarCoin rewards solar installations. Each megawatt hour of power generated through solar technology generates one new SolarCoin for the generator. Getting into SolarCoin is simple. Users just need to file a claim to register their solar installation via their monitoring system or platform. To receive their generated SolarCoin, claimants just need to download any Ethereum-compatible wallet. SolarCoins can be used in businesses that accept them or traded for government currencies.

Nano (NANO)

The developers of Nano promote it as one of the greenest and most environmentally friendly cryptocurrency options available, and for good reason. It’s a departure from the more well-known cryptocurrencies like Bitcoin and Ethereum, as it does not need mining, minting, or printing (all energy-intensive processes) to operate. Nano is inherently energy efficient because of its smaller infrastructure or data storage system. Another plus for budget-conscious crypto fans: sending Nano doesn’t incur any fees, making it both a practical and greener choice.

BitGreen (BITG)

BitGreen’s aims are to combine modern currency with green solutions and to raise $1 trillion for sustainability projects in 10 years. These goals may seem ambitious to legacy cryptocurrency investors, but such goals are truly commendable and doable through purposeful innovations. This cryptocurrency claims to consume 99.9% less energy than its traditional blockchain counterparts. Aside from putting more energy-efficient systems in place, BitGreen is also rewarding individuals for making carbon-reducing decisions. And they’re making it easier by downloading the BitGreen wallet, which allows users to make fast transactions directly from their devices.

Stellar (XLM)

Stellar is from the Stellar Development Foundation, a non-profit organization whose mission is to make the global financial system more accessible. Stellar also aims to create a bridge between traditional financial institutions and digital currencies, allowing for more seamless and cost-effective transactions using all forms of money. By using an innovative network and a shorter and faster authentication cycle, Stellar also generates a smaller carbon footprint than most traditional cryptocurrencies. All these make Stellar accessible, cost-effective, and energy-efficient.

Making money does not have to be at the expense of the environment. And green living should not be limited to your fashion and lifestyle choices. There are plenty options to integrate sustainability into your investments or money-making opportunities. Hopefully, you’ll consider these green cryptocurrency options when investing your hard-earned money.

by Regi Publico

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