Cardano
What Is It?
Cardano is a decentralized open-source
blockchain platform developed by the Cardano Foundation. The project’s goal is
to become the “third generation blockchain”, after Bitcoin and Ethereum.
Cardano is fully mineable and contains its own cryptocurrency, the ADA. The
project is led by a scientific philosophy and is highly focused on the needs of
the market.
Why Is It A Good Investment?
Cardano is a promising investment because
it is fully mineable and has its own proprietary currency, the ADA. The team
wants to be the “third generation blockchain” after Bitcoin and Ethereum, which
means it has a lot to prove. However, with a strong focus on the needs of the
market, it is possible that the Cardano blockchain will be the one that makes
it big. Cardano’s price as the time of writing this article is $1.20 USD and
the 24 hour trading volume is $1,558,303378 USD. It is placed number seven by
CoinMarketCap, and it has a live market capitalization of $40,603,714,468 USD.
Ethereum
What Is It?
Ethereum is a blockchain-based software
platform that enables developers to build and run applications that use
blockchain technology. It’s a highly popular platform for Initial Coin
Offerings (ICO), as an entrepreneurs can use it to issue their own
cryptocurrencies that can be used for fundraising.
Why Is It A Good Investment?
Ethereum is a good investment because it’s
used by so many people. More than 40,000 merchant around the world are using
Ethereum to improve the way they do business. You can also use it to trade
peer-to-peer with like-minded people or invest in ICOs. According to CoinMarketCap,
Ethereum is number two with a live price today of $3,474.66 USD and a trading
volume of $16,701,805,119 USD in the last 24 hours.
What Is It?
NEO is a blockchain architecture designed
for the creation of smart contracts and distributed applications. It is a smart
contract blockchain that can be used to host almost any kind of decentralized
application.
Why Is It A Good Investment?
The most attractive thing about NEO is that
it promises to build on the strengths of both Ethereum and Bitcoin. They are
also committed to creating a smart economy, and they are doing this by creating
a platform that will be used by developers to create smart contracts. It is a
blockchain designed for the creation of smart contracts and decentralized
applications, but it’s also an efficient digital wallet for storing and
managing assets. Neo is currently selling at $26.87 USD and in the last 24
hours, the trading volume is $168,268,920 USD. CoinMarketCap currently placed it
on number 63 and its live market capitalization is $1,895,349,850 USD.
70,538,831 is the circulating supply and the maximum supply is 100,000,000
coins.
IOTA
What Is It?
"The infrastructure for the growing machine economy" is IOTA's objective..” It’s a cryptocurrency
designed for the “establishment of new decentralized ecosystems.” This actually
is not a blockchain but rather a proprietary technology called Tangle which is
a structured nodes that confirm transactions. It is currently ranked number 54
and $2,419,484,671 USD as the live market capitalization. Its price as at today
is $.870465 USD.
Why Is It A Good Investment?
IOTA is a new cryptocurrency with a unique
selling proposition. It has a lot in common with Ethereum: it’s also a smart
contract blockchain, but it also wants to be a standard for the “Internet of
Things”. It’s an ambitious project with a big focus on the future.
Monero
What Is It?
Monero is a privacy-focused cryptocurrency
with a focus on providing security and scalability. It is a fork of Bytecoin,
which was itself forked from the CryptoNote protocol. Monero, contrastingly is
meant to hide both senders and recipients using powerful cryptography, hence
making security and privacy its focus objectives. It is currently selling at
$213.56 USD and in the last 24 hours has a trading volume of $119,072,280 USD.
CoinMarketCap currently ranked it number 43.
Why Is It A Good Investment?
Monero is a good investment because it
provides both privacy and security. It’s an open-source blockchain that’s
developed by volunteers, so it has no company backing it like the other coins
on this list. However, it has a large userbase and has proven itself as a
reliable cryptocurrency.
Ripple XRP
What Is It?
Ripple presents itself as a provider of "global financial settlement solutions.". It currently has a unique position in the
market as the only cryptocurrency with a proven track record of use. Ripple's
native cryptocurrency is XRP, which was developed by Ripple Labs Inc. as a
cryptocurrency payment service. Ripple's XRP is a "virtual currency
created for cross - border payments," meaning that the company intends to
compete with traditional bank-to-bank money transfers. Users of XRP would be
able to send money at a very cheap rate, garnering the desire of both ordinary
banks and customers. Ripple's core business model is its ultra-low transaction
fees and transaction completion in less than five seconds.
Why Is It A Good Investment?
Ripple XRP is a good investment because it
is currently the only cryptocurrency that has proven itself as a reliable
real-world payment system. It is also the second-largest cryptocurrency by
market cap. Ranked number 8, today’s market price is $0.835352 USD and a live
market capitalization is $40,209,865,625 USD.
Bitcoin Cash
What Is It?
Bitcoin Cash is a cryptocurrency that split
off from Bitcoin in August 2017. Like Namecoin and Dogecoin before it, Bitcoin
Cash has no real use case aside from being a digital coin for speculation. Bitcoin
Cash is a community electronic cash mechanism that intends to really be a
reliable worldwide currency offering fast payments, low transaction costs, and
huge transaction capacities. Bitcoin Cash payments are transmitted from one
person to another directly, similar to how actual money, such as a dollar bill,
is handed to the person receiving payment.
Why Is It A Good Investment?
Bitcoin Cash is a good investment because
it is currently the fourth-largest cryptocurrency by market cap. Since it is a
fork of Bitcoin, most of the existing community around Bitcoin will also be
around Bitcoin Cash. As a result, it's a strong speculative investment, but not
something you would want to hold a large amount of for long-term use. Its live
price today is $376.04 USD.
Litecoin
What Is It?
Litecoin is a peer-to-peer cryptocurrency
that is hinged on the Bitcoin code but offers a higher maximum coin supply.
Unlike Bitcoin, which is controlled by very few people, Litecoin can be
controlled by almost anyone.
Why Is It A Good Investment?
Litecoin is a good investment because it is
similar in functionality to Bitcoin but has a much larger maximum coin supply.
Like Bitcoin, it is a decentralized cryptocurrency - it is not issued or
controlled by any central entity. However, unlike Bitcoin, it has a maximum
coin supply of 84 million, which means it has a greater potential for growth.
How To Profit From Their Growth
Yes, it is highly possible and obtainable
to exploit the opportunities inherent in these altcoins for growth. These three
procedures are handy: investing or trading in the cryptocurrency exchange
market, usage of coins in your portfolio for staking or lending to the system
or other users, and partaking in the blockchain system by receiving coin
rewards for task completed or mining. Following the above, you can do the
following:
- Invest. Investing is a protracted procedure that requires purchasing and preserving crypto assets for a period of time. Crypto-assets might seem volatile in the interim but portend significant potentials in the long run for growth. The identified altcoins here have long term growth potentials. Cryptocurrency platform like Changelly can be utilized in doing this.
- Trading the Crypto Assets. In order to exploit short term opportunities, trading can be leveraged on rather than taking the long position of buy and hold. Due to the volatility of the crypto market, prices can increase or decrease in the shortest possible interval. Using proper analytical and technical skills, one can take position when prices are down and sell off when they increase or rise above purchase price.
- Stake and Lend. This functions by way of validation of transactions. This means that you have ownership of the coins but you do not spend it rather the coins are locked in your cryptocurrency wallet. Your coins are then used to verify transactions on a Proof of Stake network. As a result, you will be rewarded. To put it another way, you're lending coins to the network.
- Cryptocurrency Social Media. You will be rewarded for generating and organizing content on a number of blockchain-based social media networks. You are frequently awarded with the platform's own coin.
- Airdrops And Fork. To raise awareness, airdrops and free tokens are issued by some exchanges. To build a big user base for a project, an exchange might execute an airdrop. You can acquire a free currency by participating in an airdrop, which you may then use to buy items, reinvest in, or trade with. Changes or updates to a protocol lead a blockchain to fork, resulting in the creation of crypto assets. When you have money on the old chain, you will almost always receive free tokens on the new network. Because you were in the right position at the right time, you get a free crypto asset.
- Mining. Cryptocurrencies mining is a way to make money using
cryptocurrency in the same way that the early adopters did. Mining is indeed an
important part of the Proof - Of - work system. It is here that a
cryptocurrency's value is created. You get compensated with crypto assets if
you mine a cryptocurrency. You'll require technical know-how and beforehand, an investment
in dedicated hardware to mine.
The wave of cryptocurrency prevalence and
acceptability is ever increasing and the opportunities and potentials for acquisition
of huge profits cannot be over-emphasized. Following the forgoing, it is
critical for an investor to commit to carrying out full diligent research before
committing funds. This is vital in ensuring that risk of failure is
substantially mitigated on.
There is myriad of new altcoins that enter
the market frequently, hence attention should not only be centered on the ones
mentioned in this article. Doing this will enhance diversification of your
portfolio and positioning for greater returns on investment.
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