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Since the Blockchain technology has emerged as a viable technology, we have had several currencies available for purchase. Some of these currencies have immense potential and have flown beyond expectations. Others have been incredibly disappointing and cryptocurrencies like these make pervasive questions like "Should I invest in cryptocurrency?".
Surprisingly, the most important cryptocurrencies on which to invest are not necessarily the most common cryptocurrencies you know. Admit it, when you just heard about cryptocurrency, you called every other Bitcoin digital currency. A highly skilled individual will perhaps call Ethereum and Litecoin. However, these coins may disappoint you.
This is a guide on how to invest in digital currency and will show you on which cryptocurrency to invest. However, before arriving at this, it is important to understand the concept of investment in cryptocurrency. We answer some questions, consider some factors and help you find the best investment portfolio.
Invest in cryptocurrency
Just like stocks, real estate and gold, the decision whether to invest in cryptocurrency is a well-calculated figure that can not be forced, induced or rushed. You are solely responsible for the losses you incur. You can also enjoy any profit you make (after taxing your earnings in cryptocurrency), so it is important that you come to the conclusion by yourself.
Does this mean that you do not need help identifying the best cryptocurrency on which to invest? Absolutely not! In fact, this is where you have to rely on others. Before investing, you must understand your investment goals, outline them, speak with an expert about it and then start working to achieve it.
You will have to answer questions like "How long do I want to enjoy the profits?" "How much should I invest in cryptocurrency?" Etc. The answers to these questions are those that will give you courage and drive to keep going when the going gets tough.
How to invest in cryptocurrency
Before going ahead and spending money on the best digital currency in which to invest, you need to know the basics of investing in cryptocurrency. Here are some points to get started.
Long-term or short-term cryptocurrency investment?
As mentioned above, cryptocurrency is exactly like the traditional resources on which to invest. You can choose to buy it and keep it for a very long time or sell it almost immediately. The way you invest depends on what you want from the market, even if long-term investments are known to be more feasible. In addition, the timing determines whether to keep an encryption for so long or sell.
Consider the case of Bitcoin. It entered the market in 2009 and for a long time, the price has risen slowly but steadily, until 2017. Bitcoin saw an astronomical rise, seeing its value almost peak at $ 20,000, and then collapsed without any notice and we've been waiting for his ascent since then.
Does this mean that the best cryptocurrency on which to invest is a new currency that has reached a minimum of fame and is at a reasonably low price? Well, not really. But it is worth trying. Let's analyze some of the attributes of cryptocurrencies and the questions to ask before making a long-term investment.
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Are you planning to sell the cryptocurrency after a period of time or after reaching a peak?
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Are you going to sell your cryptocurrency asset at the same time or gradually?
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C & # 39; is it something that will make you sell your cryptocurrency abruptly?
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What is the maximum loss you are willing to support?
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How much money do you hope to do?
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Do you have the patience to read the market analysis and follow the news?
These should rout and help you make the right decision. In case you are not satisfied, this should do the trick.
Why you should invest in long-term cryptocurrency
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You should make long-term investments if you have unused funds and are willing to leave them for a long time.
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If you believe in the future of society, invest in the company
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If you have sufficient evidence to support long-term growth, make long-term investments.
Why you should invest for short-term purposes
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If the company has just launched its ICO, you can access the low-cost market.
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If you can guarantee the truthfulness of your online sources, go short term.
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If there is a very low market capitalization, do not think about buying long.
Now that you know something about the investment in cryptocurrency, we can think of moving on to some of the best cryptocurrencies on which to invest. However, you may want to consider the cryptocurrency market so far.
The current state of cryptocurrency markets
It all started with Bitcoin in 2009. Litecoin and Ethereum quickly joined and competed with Bitcoin for a share of the market population. In about nine years, we have had several cryptocurrencies on board but no one has enjoyed the expansion of Bitcoin in 2017. The price has risen by almost 4,000%, bringing its market capitalization to around 450 billion dollars.
We also had about 3,000 new cryptographic coins on the market with each of them stating that they are the best thing after Bitcoin. Unfortunately, many of these coins are extinguished before they are even launched. In fact, a study conducted by Deloitte showed that 92% of the Blockchain projects launched between 2015 and now fail. This makes it important to carefully consider which cryptocurrency to invest in before investing.
The best cryptocurrency to invest in 2018
Knowing which cryptocurrency to invest in could prove very difficult if you are not familiar with these currencies. There are several metrics used to judge and ascertain the best currency in which to invest. You can not afford to make investment decisions based on feelings or emotions. You should just look for the best altcoins to invest in.
Fortunately, you do not have to look any further, they're all here.
Ripple (XRP)
Believe it or not, Ripple does great things. Those who invested at the beginning of 2017 certainly smile at the bank as we speak, however, it is not where it ends. Ripple is still arguably the best cryptocurrency to invest in 2018. It will not be wise to discard Ripple because of its low price at the moment. In reality, this low price should make it attractive for long-term investors.
If you consider that Ripple has a total market capitalization of about $ 35 billion, you realize that it has great potential. This potential is largely attributed to the fact that Ripple, in addition to being a digital currency, is a means of making payment. Not only are transactions protected through Blockchain technology, but they are also completed in record time, beating Ethereum in its game.
Again on Ripple, some of the world's largest financial institutions make use of Ripple for their businesses. JP Morgan, American Express, China LianLian International and even the Central Bank of Saudi Arabia all use Ripple technology. Ripple is your answer if you have questions like "What cryptocurrency should I invest in 2018?"
Ethereum (ETH)
We monitor the growth of Ethereum in the last year. Only in 2017, the price of Ethereum has skyrocketed by almost 3000%, a move that has seen it become firmly rooted as one of the best cryptocurrencies on which to invest.
By the end of 2017, ETH's price was around $ 720 and market capitalization was $ 70 billion. At the moment, it has almost doubled the price and the market capitalization has seen a similar astronomical increase. Ethereum is practically calling you to make that investment, do you listen to the call?
Bitcoin (BTC)
We can not discuss the best cryptocurrency on which to invest without mentioning Bitcoin, it is a pity. Although the price has plummeted in recent times, it has managed to remain one of the forces to be reckoned with in the cryptic world.
Many people are of the opinion that the former remains the best and this will ensure that Bitcoin remains relevant for a long time. Others who are not so enthusiastic about Bitcoin will go on and discredit the currency. You should, however, note that you need strong support in terms of funds in order to make an appreciable gain when trading Bitcoins.
Litecoin (LTC)
What is the best cryptocurrency to invest in offering you a bitcoin-like experience minus the exorbitant cost? Litecoin! What is Litecoin talking about? Well, like Bitcoin, it also saw an increase from $ 4 to $ 358 in 2017. Similarly, 2018 saw the crash of nearly $ 100, but the currency persists.
One reason for its worldwide adoption is that Litecoin constantly improves Bitcoin technology. If Bitcoin completes a transaction in 10 minutes, Litecoin will do it in two minutes, 30 seconds. The Bitcoin stopper is set at 21 mln, Litecoin has its maximum at 84 mln. They also made progress on larger ones. In 2017, this currency completed a Lightning Network transaction, transferring a fraction of Litecoin in a second.
Zcash (ZEC)
Although ZCash is relatively new on the market, they have covered many reasons in their short time here. The company has a forward-looking founder and CEO, Zooko Wilcox-O & Hearn, and continuously releases statements detailing their long-term plans for expansion and growth.
At the moment, ZCash has 21 million coins in circulation and every transaction is published on a public Blockchain. In addition to this, you can enjoy a level of anonymity when you make transactions on Zcash. In fact, investing in cryptocurrency has been made easy with ZCash as it provides a detailed account of the various transactions carried out.
Dash (DASH)
Digital Cash is one of the first five cryptocurrencies on which to invest, that's why. The market capitalization is $ 4.8 billion, although they have only just begun in 2015. Within a short time, they have consistently managed $ 100 million worth of transactions every day. Why do they appreciate this volume? They are reliable, safe and safe to use.
Monero (XMR)
This currency is set to become one of the best cryptocurrencies on which to invest by 2018. It is one of those currencies with immense potential that has yet to materialize. What makes it so ideal is that it is very private and secure. Unlike conventional forms of transaction completion, Monero uses the signature of the ring. If you like it only, this should be a great cryptocurrency in which to invest.
IOTA (MIOTA)
Guess what? IOTA is completely free to use. This is possible thanks to the special Blockchain architecture that allows you to make transactions on the IOTA platform. The company is in partnership with companies such as Microsoft, Fujitsu and Deutsche Telecom. All this gives you the certainty that your investment is in safe hands.
Steem (STEEM)
You may be familiar with the blog and the social media platform, Steemit. They decided to expand and venture into cryptocurrencies. During the performance of normal activities such as creating blogs, writing comments, they are assigned tokens. This token, in turn, can be used to pay for other things on the platform.
NEO (NEO)
When we talk about Blockchain technology and innovation, two names come to mind: Vitalik Buterin and Da Hongei. The first founded Ethereum while Hongei came with NEO. NEO technology is supported by a Delerated Fault Tolerant delegated system and this adds sophistication to the system. It also has an improved test of pile technology. All this makes the NEO a very interesting cryptocurrency on which to invest.
Conclusion
Here it is, "which cryptocurrency to invest in" is no longer a valid question, you have 10 to choose from. Investing in cryptocurrency could be a very complicated and difficult process, but the end justifies the means.
