Almost everybody is talking about cryptocurrency investment and how to make money off it.
One of the major reasons it became popular, is because of the recent spike of bitcoin price today, as well as all other cryptocurrencies known as Altcoins.
Due to this fact that the price fluctuations of different can create huge income whenever it happens, it made lots of individuals to start trying to figure out a way to make real income out of it.
Before I proceed, I will like to let you know that cryptocurrency market is highly volatile, thus, the price actions do happens without any pattern, and the whole market itself is unregulated.
In other words, cryptocurrency is totally different from all other kinds of currencies, including the FIAT bank money.
Fiat currencies are mostly approved or issued as physical bank notes or coins by the central bank of countries, which they originate, but cryptocurrency on the other hand, is not physically in existence.
It is completely digital in nature.
It only works with an encrypted mechanism known as Blockchain, where transactions are recorded in a single ledger using different level of encryption.
Cryptocurrencies are not owned, or controlled by financial institutions, authority or any central bank. It’s not under any governmental influential control.
Since cryptocurrencies are not regulated or monitored, the HODLers (holders) are completely anonymous; that include all transactions made through the blockchain which makes every record of each transfer unidentifiable.
Bitcoin and Altcoins are mostly used in the dark web these, because it’s used as a tool to remain untraceable.
Most payment activities including transactions these days, are done using cryptocurrencies like Bitcoin and Ethereum.
This is the fact that increased the value of cryptocurrencies.
There are also many applications of these digital currencies like many popular websites and online merchants who have started accepting them as legitimate form of payment.
However, many investors that wants to make good money out of these cryptocurrencies, always want to know which of the crypto-coins are the best for their investment strategies.
What is the best cryptocurrency to buy?
If you are interested in doing crypto investment, I have got you some number of cryptocurrencies you should consider checking out today.
Below are some of the best cryptocurrencies to invest in:
This is the very first cryptocurrency introduced by Satoshi Nakamoto since 2008.
Bitcoin saw a huge spike in price in 2016, where it grew from $1,000 to $20,000+ in value making it a popular currency for most investors.
Bitcoin is currently known to be a very stable digital currency to the extent that many websites and business merchants are now accepting it as a secured mode of payment online.
Ether is proposed and created by a computer programmer, Vitalik Buterin. It was introduced in July 2015 with almost 12 million coins pre-mined before launching.
Early last year (2018), Ethereum saw a massive spike in price which made it to grow over 13,000% in value, hence making a good investment option for most enthusiasts.
According to the CoinMarketCap, Ethereum is the most capped crypto coin in the cryptocurrency market.
This is what made it the best stable cryptocurrency in the market, just after Bitcoin.
3. Ethereum Classic
Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality.
It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine, which can execute scripts using an international network of public nodes.
Ethereum Classic being released in 2015 to correct the Ethereum blockchain hack, has since then, been growing in value due to the fact that it’s another form of Ether DApp.
This upcoming project is a good bet for altcoin traders who would like to invest or HODL a cryptocurrency that is expected to grow in value very soon.
This Chinese based cryptocurrency, VeChain is considered to be one of the most under-rated cryptocurrency in the market. This fact has also made it the most attractive coin for many investors this year.
As an Upcoming cryptocurrency project, VeChain’s basic aim is to develop supply chain solutions for Chinese corporates which will also help them in preventing counterfeiting.
Since 2011, Google employee, Charlie Lee modelled Litecoin on the Bitcoin framework. The main aim of LTC is to process a block every two and a half minute, thus making it very much faster in processing transactions.
Just between November and December 2017, this cryptocurrency made a great in value, and has also stood out as one of the top coins for altcoin trader investment.
Mid 2018, Ripple saw a huge jump in price and value. This has made this cryptocurrency to be in the cryptocurrency news, and also caused a widespread adoption by several companies as legitimate form of payment.
Many start-ups now use Ripple to accept initial funding instead of the traditional currencies.
This fact has made it yet another stable cryptocurrency to buy right now, even though it’s still a new project.
7. Dash Coin
Digital Cash known in the crypto market as Dash is an independent Next Big Altcoin platform that started in 2015 with a market cap of $4.8 billion.
Dash handles up to $100million worth of transactions per day which made it one of the world’s top cryptocurrencies.
ZCash started in 2016, and is headed by the CEO and founder, Zooko Wilcox. Zcash is one of the promising cryptocurrencies in the market today, due to its recent price spike.
ZCash has over 21 million coins in circulation, and their payments are listed on a public blockchain.
ZCash encourages complete user anonymity by masking transaction details, including names of both the sender and receiver in every transaction.
This has enabled individuals and companies to effectively comply with money laundering and taxation laws, while still transacting with cryptocurrency.
MIOTA is introduced in 2015, with unique blockchain architecture. Transactions made on IOTA are completely free-of-charge not minding the size of the payment ticket.
This feature of free transaction fees has made IOTA to be considered to meet with the aim of becoming the most adopted mode of payment for start-ups and tech corporative.
SteemIt is a blogging as well as social media platform that has its own cryptocurrency integrated into itself.
Right on the SteemIt platform, users are rewarded with the Steem tokens when they write comments, and blog contents.
This process of mining cryptocurrency by producing online web contents has been known to be one of the smartest ideas in the crypto world.
As for now, the Steem dollars and tokens are only used as form of payment within the platform for now. Steem token is expected to gain wider traction for payments made on the internet using blockchain technology.
Monero launched in 2014, is an open-sourced cryptocurrency which uses a combination of stealth addresses and signatures to mask transaction details on the blockchain.
The fact shows that, Monero is a completely anonymous and untraceable cryptocurrency in the world.
Since its inception, XMR has seen over 1300% upward climb in value, making it very interesting for many cryptocurrency investors and altcoin traders.
Tron network is an incredibly exciting project for all those who are mostly interested in the media and entertainment industry.
Imagine a platform that combines both Twitch and Netflix (or any other favourite streaming service) being decentralized.
That’s what the Tron project is about.
Tron project and TRX coins were established by Justin Sun in 2017. Initially being based on the Ethereum blockchain, the network has its own blockchain launched in 2018.
The developers’ main aim is to make the network as useful as possible for users who are tired of platforms framed with ads all over the place.
Despite those amazing ideas behind the Tron project, there is also controversy associated with its creator. If you’re in Nigeria, and don’t know how to buy TRX, read my guide here.
As stated earlier, the volatility of cryptocurrencies are something you need to be aware of, and take with a pinch of salt.
Currently, there exist no concrete models to predict the price trends of cryptocurrencies, so investors should realize that this is an extremely speculative proposition.
I recommend registering an account on Binance which happens to be one of the most popularly known cryptocurrency exchange in the world.
Binance also has its own cryptocurrency, BNB, which helps you to slash all the transaction fees on the platform by 50%, as long as you have it in your investment portfolio, during the time of buying Bitcoins, or any Altcoin on the trading platform.
Make sure you don’t always leave your cryptocurrency investment in an online platform, as you will not have total control of your investment, and you that may result into loss of your investment in case of hack or theft.
I suggest you get a cryptocurrency hardware wallet like to store most of your cryptocurrency assets, as they are mostly secured with offline HD feature.
I hope this content helps to make the right choice of cryptocurrency to invest in and help you in making good income out of altcoin exchange this year.