Ever since cryptocurrencies have been launched in the financial markets, the investors have found a new form of investment. Looking the previous year, 2017, we come to see that cryptocurrencies have really performed exceptionally well and are still continuing to attract potential investors in 2018. In this post, we are going to talk about which cryptocurrency to invest in 2018.
Before answering the question that which cryptocurrency to invest in 2018, let’s understand what they really are. A cryptocurrency is a digital currency that makes use of the cryptography for the security. Nobody can counterfeit cryptocurrency due to its security feature. The majority of cryptocurrencies are decentralized systems that are based on the blockchain technology, which is a distributed ledger enforced by a different network of computers.
One of the remarkable features of a cryptocurrency is that it is not backed by any central authority which makes it immune to any sort of government interference. Bitcoin is one of the first cryptocurrencies to have launched and has captured the interest of millions of investors across the globe.
Which Cryptocurrency to Invest in 2018
Apart from Bitcoin, there are also other noteworthy cryptocurrencies that have been able to make their mark in the world of cryptocurrency. Let’s find out which cryptocurrency to invest in 2018. We will be talking about the best cryptocurrencies to invest in 2018, especially the ones having the greatest potential so far.
The first cryptocurrency you should look for investing in 2018 has to be Bitcoin. There might be a chance that you have not heard of any other cryptocurrency but Bitcoin. This cryptocurrency is the biggest cryptocurrency as it holds around 40% share in the total cryptocurrency market cap. Being the oldest cryptocurrency, it still continues to dominate the market.
If you look at its progress in the last year, Bitcoin’s value has increased progressively. This means it will be a good idea to invest in Bitcoin even in 2018. Even if you have missed the opportunity of investing in Bitcoin in 2017, you can still do it in 2018.
Investing in Bitcoin is a good idea, especially if you believe that this cryptocurrency has a certain future.
Ethereum is the second-best cryptocurrency we have right now. It has been ranked at the second position on the coin market cap for a long time now and there’s no way it can come lower than the second spot.
In the past year, Ethereum’s value grew by about 3000%, which made it the second largest cryptocurrency after Bitcoin. However, unlike Bitcoin, Ethereum cannot just be called as a simple digital currency. In fact, it is something more than an ordinary digital currency. It is an advanced blockchain project because developers can build their own cryptocurrencies just by using Ethereum’s platform.
We would definitely recommend investing in Ethereum in 2018 as it has a lot of great potential to become one of the biggest cryptocurrencies. The ability to let others launch their own cryptocurrencies using the Ethereum platform is one of a kind. Also, Ethereum has been planning to improve their technology in the coming time so it’s time for you to keep an eye on it.
Also known as XRP, Ripple is the third-best cryptocurrency after Bitcoin and Ethereum. This cryptocurrency was one of the best performing cryptocurrencies in the previous year. Therefore, it automatically becomes one of the best cryptocurrencies to invest in 2018.
Like all the other leading cryptocurrencies, the price of Ripple has also lowered down in 2018. This means you have missed a great opportunity by not making an investment in Ripple in early 2017. While that’s correct, you need not worry as you can still consider investing in Ripple in 2018.
Ripple became popular not because it was a digital currency but was also seen as a global payment system. Using the blockchain technology, Ripple makes international payments faster and securer. With the help of Ripple, you can process an international payment in only a few seconds which normally a bank would take around 3 to 10 days for the transaction to process.