Which Cryptocurrency Should You Invest In 2018?
At the outset, we inform that the information contained in this article, does not guarantee income – those informatios are predictions only. Without a doubt, in 2018 we will have a lot of interest in cryptocurrencies!
- Bitcoin (BTC)
Bitcoin now is trading at $14 882.30. In fact, this year Bitcoin has risen in value 1,000% year-to-date. A successful year made this cryptocurrency an attractive asset for the financial institutions and governmental organizations all over the world. What is important that Bitcoin miners are the key to Bitcoin security and miners are responsible for the creation of fresh Bitcoins. So keeping Bitcoins safe is the most important thing to do after buying BTC. FundStrat Global Advisor co-founder – Tom Lee said has a $11,500 call on bitcoin by the middle of next year. In the long-term, Lee believes BTC will trade for $20,000 to $55,000 by 2022.
- Ethereum (ETH)
The number of transactions on the Ethereum network is already significantly higher than those using the BTC blockchain. Of course the number of transactions has a different relevance for Ether compared to Bitcoin because BTC is more of a store of value and Ether more of a utility coin. Specialists predict lower volatility in ETH compared to BTC but with a rising price measured in fiat terms. Smart contract technology makes corporations very interested in its real world applications. For example, a new coalition by the name of the Enterprise Ethereum Alliance has sprung up with the explicit objective of facilitating and fostering the growth of the Ether.
- Litecoin (LTC)
It was created to manage some of the flaws in the original Bitcoin protocol and Litecoin is one of the very first altcoins in existence after Bitcoin. Now Litecoin trades at $151.82! The cryptocurrency was introduced back in 2011, while it is almost identical to Bitcoin in terms of features. The creator of Litecoin, ex-Google employee, Charlie Lee is entirely transparent about what is he doing with the currency on social media, which is a great thing. The LTC project has a solid idea and the currency is well designed to be perfect for a future mass adoption of cryptocurrency. So, we can definitely expect Litecoin to be one of the leaders in the market.
- Zcash (ZEC)
The Zcash is a further iteration of the zerocoin project. It is fundamentally the same as Bitcoin but it provides an extra layer of security and anonymity. Zcash allows users to disclose information regarding transactions and account balance selectively. A lot of people confirm that Zcash is a prominent project and it is ranked among the top 20 cryptocurrencies. Right now Zcash has a price of $325.19 and the development team is planning a series of network upgrades for next year. As we can read od Reddit, other upgrades may be in the offing, including functionality for smart contracts and research into the proof-of-stake algorithm.
- IOTA (MIOTA)
IOTA has one of the biggest potentials to human life change, according to some industry observers. It is worth mentioning that this cryptocurrency is concentrated on Machine-to-Machine transactions. IOTA doesn’t operate on a blockchain and it uses a “revolutionary” new ledger that is supposedly an upgrade to blockchain architecture. Its key purpose is to enable M2M payments via serving the machine economy. This cryptocurrency is quite different from other digital currencies since it does not even based on the blockchain system. Each of the IOTA’s transactions is confirmed by only two other nodes. Some of the companies that have partnered with IOTA are Microsoft, Fujitsu, PwC, Bosch, and Accenture.
Predictions may be worthless?
On social media and on a vast number of websites with experts, many are giving advice in investing in certain coins at certain moments. Specialists say that 48 percent of the examined people were wrong and 52% of the people right. So No one can tell you exactly where to invest or what will happen to any of these cryptocurrencies. But this is a good moment to look at the ones that show the most promise.
A major problem is comparing crypto to traditional money or assets on the stock market. Most specialists are guided by the knowledge they have gained on the stock exchange. The cryptocurrency market has different rules and you can’t use the knowledge gained on the stock exchange. Predictions about the Bitcoin bubble have been repeated for 5 years and somehow we do not see this bubble burst.
So how to buy best cryptocurrencies?
It does not exist, something like “the best cryptocurrency”. There is only a good price at the moment. When investing in cryptocurrencies, you need to read a lot and check the price history. Anyone thinking of investing in Bitcoin or another cryptocurrency should be very careful. And investors are frequently targeted by hackers and other criminals who seek to steal their crypto-cash online. If you plan to keep some crypto, move the bitcoin into the vault, and make sure not to use two-factor authentication via SMS but instead on Google Authenticator. If you have a significant amount of money invested, it’s best to use a cold wallet, and particularly a hardware wallet, which is a device specifically designed to hold bitcoin, ether, and other crypto tokens securely. Don’t follow any links in the messages or enter any private details they ask you for. Instead, you should always make sure you’re on the right website or app.
Keep on the lookout for new coins; even more so, keep on the lookout for newly-discovered problems with the coins you own. Try not to spend all your savings on cryptocurrencies, because when in fact, one bubble bursts – you will be left without anything.
Rules are simple:
- Never put all your eggs in one basket;
- Do not invest your life savings or money that may change your life drastically;
- Know when to cash in. It is important to stay focused, unemotional and professional;
- Take full advantage of available technology in order to gain maximum profit;
- Understanding the market is a continuous process and requires a lot of time;
- Traders should keep in mind that losing, just as much as winning, is an integral part of trading.