When all this frenzy on digital currency became worldwide talk, most people believed it was a passing fad and very soon the bubble will burst. Well, its 2018 and it is still the ‘it’ talk. The Doubting Thomases are kicking themselves for not investing when they gave a pass at that opportunity. The believers are getting richer as the days go by.
The craze is not about to die down and as time progresses a lot more digital currencies are being invented. Someone somewhere is looking for the next Bitcoin hence the emergence of so many ‘alt-coins’. It is true that many cryptocurrencies are vapor in the wind but, it is also spot-on many are going to make it mainstream. One needs to do a lot of extensive research on the currency they want to invest on to make an informed choice.
The Strategy Guide to Invest in the best Crypto, as there is still a lot of unknown information surrounding Cryptocurrencies, here is a list of top cryptocurrencies and the fundamental factors you must understand to know the long-term survival of your investment.
Top 5 Cryptocurrencies
- Bitcoin
Currently trading at $8,267.07. The value of Bitcoin has gone up over 1000% since its invention. Its Market capitalization standing at $138,299,416,781. This has made it such a successful asset and given confidence to financial institutions and governments.
- Ethereum
It’s the 2nd biggest crypto. Currently selling at $824.53 with a market capitalization of $80,395,313,354. This currency is steady and has a lot of potential for growth and some say it can bit the original crypto Bitcoin.
- Litecoin
Created so as to manage some flaws discovered on Bitcoin. A very promising currency selling at $146.71 and with a market capitalization of $8,089,480,929.
- IOTA
It is a unique creation that does not rely on blockchain, as it uses a new concept tangle. It has one of the biggest potential to revolutionize human life. Currently, it’s selling at $1.75 and has a market capitalization of $4,850,474,911.
- Ripple
It is not only a currency but a system that enables you to send money effortlessly globally. It has a system that any of the other currencies can be traded. Currently selling at $0.803054 and has a market capitalization of $31,326,506,816.
Factors that determine the Cryptocurrency to put your Investment
· Purpose of the cryptocurrency
A cryptocurrency has to have more to its purpose than just being a trade coin. It has to provide a solution to a specific problem in the real world. That way, you are assured of its sustainability as there will be demand for it at any particular time.
- Market Capitalization
Multiplying the current currency price with the supply gives you the Crypto market capitalization. This tells you the amount of cryptocurrency left helping you determine how long the currency will survive.
- The Development team involved
Any investor wants a developer who is innovative and aims to provide a constant improvement in their investment. This applies to cryptocurrencies too. To boost the confidence of investors in a currency, the development community has to keep improving the cryptosystem to match the competition ensuring it does not become obsolete.
- Purchase Availability
Availability of the crypto in big exchanges makes it available to many people giving it the potential to increase its value.
No one has a guarantee of winning cryptocurrencies and those that will fail epically in future. Make your choice from an informed point of view and the above will give you confidence as you make your decision. There is a lot more information on cryptocurrency so read more and be a wise investor.
