Cryptocurrency is finally moving into the spotlight with Bitcoin rates quickly climbing up and investment analysts looking for ways to harness this growth opportunity as quickly as possible. China’s recent ban on cryptocurrencies which started from the ban on Initial Coin Offerings in September introduced a certain level of uncertainty to the market, but investors were quick to identify opportunities in various investments that still held on to firm grounds. Even the Bitcoin noticed a sudden plummet from its record high rate of $4,900 to $3,000 when China announced the ban, but Bitcoin rates shot up higher than previous rates quickly.
Best Performing AltCoins 2018 : What Makes an AltCoin Good For investment?
While Bitcoin leads the pack, there are a number of alt coins that you can invest in for favorable returns. We look at various factors like:
- The team responsible for putting together the coin
- Their reputation in the current virtual currency markets
- Their efforts in maintaining and improving the coin
- The technology used by the coin
- The number of coins that are already in circulation
- How many exchanges are currently trading these coins
- Whether the coins can be mined.
Keeping these factors in mind helps in reducing risks of investing in the alt coin. It is important to rely on your personal research for the coin at the time of the investment to ensure that the coin will lead to better returns. While this list of 5 best performing alt coins can guide you to choosing the right coin, it is not meant to be your ultimate answer to investing in altcoins. You will be required to conduct independent research regarding these coins to make sure that you invest in the right one depending on the time of your investment.
While Bitcoin is one of the most popular cryptocurrencies, it is highly volatile and with SegWit2x underway, there is a chance that investors will notice a drop in the rate of Bitcoin. It may gradually build its way up as it always does, but this may not be the right time for this currency with so many uncertainties arising from the hard fork about to occur around 16 November, 2017. So we have chosen five coins other than the popular Bitcoin which are doing well at this time.
This is one of the best altcoins next to Bitcoin. Its price tells us about the reputation of the coin in the market. The fact that Ethereum introduced simpler ways of programming on blockchain making it easier for other coins to grow as well, makes Ethereum stand out.
Ethereum also has a very keen way of handling smart contracts. It takes it up a notch from Bitcoin making it easier for users to manage agreements. It offers higher flexibility than Bitcoin and is hence be considered as more lucrative when it comes to investing in altcoins.
Ethereum has a brilliant reputation in the market and its team does well on ensuring that the currency continues to garner positive attention from the users. Unlike Bitcoin, the idea behind Etehreum is to provide a decentralized software for developers and programmers and Ether is the monetary unit that is very much like Bitcoin. Since it offers more in terms of value, investment in Ethereum makes more sense and may lead to better returns than other cryptocurrencies.
Next to Bitcoin and Ethereum, Ripple is the fastest growing cryptocurrency which is becoming a favorite among many investors. It is a start-up which provides global financial settlement solutions. The digital currency of Ripple is XRP and it is a scalable digital asset which is growing very quickly. It has almost $10 billion in market capitalization and is continually increasing its prevalence by partnering with banks and financial institutions to provide smoother cross-border payment solutions.
With more financial institutions embracing XRP, Rpple has the ability to grow and provide you with favorable returns.
Evan Duffield and Hyle Hagan are behind this altcoin which continues to serve the purpose of ensuring anonymity which is the main idea behind cryptocurrencies. It is being developed continually to attain new heights and the creators ensure that the reputation of the coin improves every day.
Dash has some unique features especially when it comes to heightening the levels of anonymity when using these coins. This makes it a winner in the cryptocurrency race and has helped it improve its standing from where it started. This is a currency that is still in the development stage but surely has the potential to help you earn better returns.
Another altcoin that aces anonymity is Monero. The increase in the value of this cryptocurrency is also hugely because of the anonymity it offers to the users. It uses stealth addresses and displays a cryptographic hash of the destination address to viewers. Just the sender and the recipient have the ability to decipher the hash making the transaction more secure.
Monero is doing well but it is largely associated with darknet users. While it seems to be climbing up the ladder of success very quickly, there are organizations that still do not want to be associated with this cryptocurrency.
While it started in April 2014 with market capitalization of $5 million, Monero had a market capitalization of $183 million by mid 2017. This only proves the potential of the altcoin to grow.
Steem is the token used on Steemit. Steemit gives you the chance to make money in the form of Steem dollars or Steem by posting quality content on the website. It means that you have the ability to blog and get money for it through upvotes related to your content. It is like a social media platform for bloggers or content writers.
At this time its potential seems under recognized with around 300,000 registered accounts. Imagine the power of Steem if it reaches the same popularity as social media platforms like Facebook. The value of Steem is bound to rise and it will rise quickly in a world where internet is a habit and not a means of passing time.