Picking the right cryptocurrency to invest in is an art. In this post I’ll cover my top 5 cryptocurrencies for 2018, why I chose them, and their pros and cons.
The cryptocurrency market has been on a tear since the end of 2017. There are now over 1,500 cryptocurrencies with a total market cap of over $400 billion. That’s more than twice as much money in the crypto market as there was six months ago!
As you can imagine, with so many new coins being created every day, most will fail and disappear. A few will become very big and well known while others will stay small and only be known in niche communities.
Unfortunately it’s not easy to know which ones will succeed and which ones won’t. That said, there are usually certain characteristics that successful cryptocurrencies tend to have that unsuccessful ones don’t.
In this article I’ll share with you my top 5 cryptocurrencies for 2018 (and beyond) that I think have the potential to help you make life changing returns on your investment. These are coins that I’ve personally researched and believe in – not just random names that other people have thrown out there on Reddit or Twitter.
Before I get started though, let me just say: if you want to buy any of these cryptocurrencies
The top 5 cryptocurrencies for 2018 by market capitalization, in descending order!
1: Bitcoin (BTC)
Bitcoin is currently the world’s most popular cryptocurrency and is traded worldwide. It is the first and largest cryptocurrency in the world with a market capitalization of over $100 billion. Bitcoin is not controlled by any central government or authority. Bitcoins are “mined” by specialized computers solving complex math problems and then recorded on a public ledger. The supply of bitcoins is limited to 21 million, which have yet to be mined. Bitcoin can be used to pay for goods and services just like any other currency, and can be exchanged for other currencies both online and at dedicated exchanges.
2: Ethereum (ETH)
Ethereum (ETH) currently sits at number 2 on the list of most valuable cryptocurrencies in the world. The main feature that makes it different from bitcoin is that it supports “smart contracts” which enable developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
3: Ripple (XRP)
So, you want to make money in crypto? These are my five favourite cryptocurrencies and what I think they will be worth in 2018.
Disclaimer: I am not a financial advisor. This is NOT financial advice. Please do your own research before making any investment decisions. I am not responsible if you lose money trading cryptocurrencies.
5. Bitcoin Cash (BCH)
This is the first cryptocurrency to appear on my list and it’s a bit of a controversial one. Bitcoin Cash was created by the Bitcoin hard fork on August 1, 2017, made a new version of the blockchain with different rules. By switching from the main bitcoin blockchain to a new version, the software now has capacity for a larger number of transactions.
On paper, the change seems like an upgrade for bitcoin – but not everyone agrees with this assessment of the hard fork. It’s no surprise that Bitcoin Cash has found its way onto this list as it is currently the fourth largest cryptocurrency behind the original Bitcoin, Ethereum and Ripple in terms of market cap!
If you’re looking for long-term holders; this coin could be up there at number one spot if it keeps going as it is now!
Every cryptocurrency has a specific purpose and a goal that it wants to achieve. Some currencies want to become the new way of storing and transferring funds around the world, some want to help computers perform specific tasks with ease whilst some simply want to facilitate the exchange of value between people.
This is where the term “altcoin” comes from. Every coin besides Bitcoin is called an altcoin. The reason for this is because Bitcoin was the first to market and has the largest network effect. It’s the most popular cryptocurrency and dominates the entire value chain of the cryptocurrency ecosystem.
As a result, it is very difficult for other coins to break into this market and get traction. This means that despite all of their efforts, only a handful of altcoins can be successful. The rest will either fail or remain in obscurity forever.
With that in mind, here are 5 cryptocurrencies that have good prospects of making it big in 2018:
With so many cryptocurrencies in the market, it is important to find a good definition of what I believe are “the best cryptocurrencies”, and this is what I have come up with:
A cryptocurrency that has a high market cap, low coin supply and a legitimate use case.
There are many other factors to consider such as community support, development activity, volume and so on but for the purposes of this article I will focus on the above three.
Now let’s get started with my top 5 cryptocurrencies for 2018.
It has been a rough year for cryptocurrencies and the general market sentiment is that of an impending collapse. But this does not change the fact that there are some pretty solid projects out there which are built on strong fundamentals and have huge potential for the future. This short article will go over my top picks for 2018 and why I believe they will be good investments in the long term.
1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Ripple (XRP)
4. Litecoin (LTC)
5. Monero (XMR)
Bitcoin, the first cryptocurrency ever created has indeed become the most widely used digital currency on earth. Ever since the existence of Bitcoin in 2009, it has witnessed unprecedented growth across the world. The reason for its worldwide acceptance is no other than its ability to changed the way transactions are conducted in many electronic platforms. Conventionally, electronic card transactions take approximately three business days to get confirmation. On the other hand, Bitcoin transactions take few minutes to be confirmed on the blockchain.
You need a wallet, a QR-code with your Bitcoin address on it and the people who can potentially give you a tip need to be aware of it. There are various places where you can receive Bitcoin tips. There are email addresses, QR-codes, physical addresses or even your own personal Bitcoin ATM asking people to give you tips.