Cryptocurrencies have been making waves since the beginning of 2017. It became a big investing venture for a lot of people. Some were able to get rich through good investments, while some suffered from heavy losses. You should know about the best cryptocurrencies to invest 2018 to begin your investments.
It was expected that after the initial cool down, the cryptocurrencies will become stable, and more predictable. However, that didn’t happen. Even after all the commotion, there is still no way to predict how a cryptocurrency would do in the future. It could go up unrealistically or it could collapse, there just is no defined pattern. So, before you even think of investing in the cryptocurrencies, do keep in mind that your investment can go either way.
Best Cryptocurrencies to Invest 2018
If even after reading the above, you haven’t changed your mind and are still looking to invest, then following are the five cryptocurrencies that you can look into. They all have their certain advantages and disadvantages – you just have to find the one that fits your needs.
There’s no hiding the fact that Bitcoin broke all sorts of market records in 2017. However, the currency that was right behind it was Ethereum. It saw a 3000% increase in price over the course of 2017 and is going strong in 2018 as well. It has a lot of potential, not only as a good investment but as a means of payment.
Another change that the users of Ethereum are looking forward to is the switch to Proof of Stake. What this means is, only people who actually own this currency will be able to profit from it. No third parties can just come in and mine the coins. This change alone has a lot of excitement for Ethereum’s future, so if you are looking to invest, this one comes highly recommended.
It would be unwise to not discuss the king of cryptocurrencies, Bitcoin. Bitcoin is just as unstable today, as it was a year ago, but there is still a lot going for it. Firstly, the whole market is based on Bitcoin now – if it drops, then the likelihood is that other currencies will drop as well and if it gains, others will go up as well.
Secondly, Bitcoin may not drop as much as the other currencies – like for example, Bitcoin could drop down in price by $2000, which by its standard, is not that big of a deal. However, due to this $2000 decrease, other currencies will drop almost the similar amount and that will turn into a huge loss.
Currencies like Ethereum, Litecoin, and Ripple don’t have such a high pricing, so while there could just be a 0.2% drop in Bitcoin, in other cryptocurrencies, the drop in price could be from 10% to 30%. So, in the grand scheme of things, Bitcoin does better than most cryptocurrencies, and the reason is, it is the king of the market right now. Until that changes, everything will revolve around it.
IOTA was not widely known but it is slowly gaining its footings in the cryptocurrency market. The reason it is getting popular is because of its unique blockchain structure that allows transactions to go through without incurring any cost whatsoever.
This is something that’s going to become huge in 2018 because as more and more cryptocurrencies become accepted worldwide, more businesses will do money exchanges through blockchains and there’s nothing better than a free solution.
Due to their recent surge in the market, IOTA Foundation is now partnered up with some of the biggest tech industry giants including Microsoft, Fujitsu, and Deutsche Telekom. With such a humongous leap in blockchain technology and with their partnership with the giants of the industry, you can rest assured that your investment is in safe hands.