All of the following are examples of cryptocurrencies except:Group of answer choicesZelleTetherRippleEthereum
Question
All of the following are examples of cryptocurrencies except:
- Zelle
- Tether
- Ripple
- Ethereum
Solution
1. Break Down the Problem
To determine which option is not a cryptocurrency, we will analyze each of the choices provided.
2. Relevant Concepts
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on technology called blockchain. The options given will be categorized accordingly.
3. Analysis and Detail
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Zelle: Zelle is a digital payments network that allows users to transfer money directly between bank accounts. It is not a cryptocurrency but rather a service for facilitating bank-to-bank transfers.
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Tether (USDT): Tether is a stablecoin cryptocurrency that is linked to fiat currencies, primarily the US dollar. It is widely used in trading.
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Ripple (XRP): Ripple is both a platform and a cryptocurrency (XRP) designed for facilitating real-time cross-border payments. It is considered a cryptocurrency.
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Ethereum (ETH): Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (DApps). Its native cryptocurrency is called Ether (ETH).
4. Verify and Summarize
After analyzing each option, we identify the one that does not fit the definition of a cryptocurrency.
Final Answer
Zelle is not a cryptocurrency.
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