2017 is definitely the year of the cryptocurrency. Bitcoin’s value has soared over $7000, and a few new cryptocurrencies jumped into spotlight. To help in choosing the right cryptocurrency for you, we assembled the list of 5 cryptocurrencies to invest in the next year.
The first on the list is Bitcoin, which is the original cryptocurrency that reached an all time high of $7000. Bitcoin managed to climb 27.15 percent in the last 7 days, and its market capitalization stands at $124 billion.
One of the main reasons to choose Bitcoin for your investment is the fact that Bitcoin is the only coin that gets so much media attention, which makes trading on the news the best path, since technical analysis might not always work.
Ethereum is #2 on our Top 5 Cryptoccurencies To Invest In 2018 list. Invented by Vitalik Buterin and announced in the early 2014, Ethereum is a platform that allows creating a smart contract that runs on a decentralized network. It trades around $300 at the time of writing.
Ethereum introduced an Ethereum netwprk, in which other coins can be based. It made programming on blockchain so much easier, which is the main reasons why numerous popular coins are based on Ethereum.
Litecoin is a cryptocurrency founded by Charlie Lee. It has a market capitalization of around $3.28 billion. Like bitcoin, it uses the blockchain technology. Litecoin transactions currently take about 2 minutes to complete, while bitcoin transactions can take about 100 minutes.
Monero is currently the most secure and private coin on the market. It is considered a long term investment, as it is seen as the ‘gold standard’ for privacy-conscious users.
Monero is in the top 5 most used cryptocurrencies for day to day purchases making it one of the few coins that is actually used as a currency.
IOTA is an open-source, decentralized cryptocurrency, made specifically for Internet of Things (IoT). IOTA does not even use blockchain, it uses an entirely new concept called “Tangle”. Consequently, it brings no transaction fees, enabling true microtransactions.
The biggest downside to IOTA is that security has not yet been tested completely.
Currently, the only place where you can purchase IOTA is Bitfinex.