With the rapid changes in the world of cryptocurrency, new altcoins are endlessly coming to life. This trend gives rise to a never-ending list of investment options for people that want to capitalize on a booming market.
Although the most popular digital coins have yet to offer any return short of mind-boggling, altcoins are increasingly taking the spotlight. In fact, the cumulative number of cryptocurrencies that are available in 2018 goes north of 1,600. Thus, the era where Bitcoin or Ethereum ruled the industry is ending.
Currently trading at $177, Dash is one of the few altcoins that has seen an exponential growth in value. It is an open-source platform that was a direct byproduct of ch anges made directly to the Bitcoin protocol. Some of its main characteristics include fast transactions that are basically impossible to track.
Similar to Ethereum, NEO offers a solution to brands looking to build their own decentralized applications. As such, it provides state-of-the-art scalability accompanied by an $18 coin price. Additionally, the current circulating supply is approximately 30 million coins short of the market cap for this altcoin.
Tron is an altcoin allowing users to share entertainment-based content across the globe. Even though its price is relatively irrelevant when compared to the aforementioned two, it has a lot of potential. After all, its protocol specializes in publishing, storing, and even owning data. It further facilitates a fault-tolerant, scalable environment for operations.
With a market cap set at 1 billion ONT coins, this cryptocoin is reaching unprecedented heights. Moreover, Ontology has seen some micro-gains recently that launched its price above the $2 threshold. Thus, purchasing this digital coin right now could be part of a solid long-term strategy.
Out of all the altcoins mentioned thus far, Litecoin is arguably the most popular one. It was released in 2011 which, in turn, puts its track record only two years short to that of Bitcoin. Created under the MIT/X11 license, its transaction speeds, storage efficiency, and coin rewards for miners all overpower Bitcoin.
Earlier in 2018, EOS broke a handful of records by holding an ICO where $4 billion was raised. An easy way to represent this platform is to describe it as Ethereum’s commercial twin brother. Meaning, it allows the production of decentralized applications that are scalable enough for sizeable businesses. Also, transaction costs and efficiency further establish it as a great investment opportunity.
Monero is another open-source cryptocurrency that has been around for over four years. It was invented by Nicolas van Saberhagen and holds a market price of $112. Relying on the so-called “Proof of Work” mechanism and unparalleled privacy, Monero has slowly increased its market share over the years.
Ripple is a cryptocurrency specializing in currency exchange, settlement, and remittance. It is based in the United States and has been around for six months. With a price of 46 cents per coin, one could obtain hefty returns if this altcoin takes off. After all, the potential hidden in connecting the banking institutions is impossible to deny!
Since digital coins operate online, fiat currency is often useless when it comes to direct transacting. This is where platforms like Stellar come in. In fact, it is one of the main providers for transactions between fiat and digital coins. Meaning, Stellar allows investors to merge real money with their online funds. Consequently, the possible growth is enormous and its current price of only 24 cents is certainly an incentive to purchase.
ZCash is another direct fork of Bitcoin. This indicates that its core code originates from Bitcoin’s blockchain node. Nevertheless, it has its own network where users can rely on superior privacy and proof-of-work mechanism. Additionally, it is one of the few altcoins with a price exceeding $100 ($124 presently). Thus, investing in ZCash could be a profitable venture for those who are not as risk-averse.
The list of valid investment options in the spheres of cryptocurrency goes on. Nevertheless, starting one’s quest by getting informed on the previous altcoins could be a good way to maximize returns. Ultimately, high-quality, in-depth research will be the easiest way to avoid losing money.