Most of them are just copy cat or only have some features that are innovated. They may add some features, remove some features and change some features, but most of them are not really new coins.
For example, many people will think cryptocurrency is the best investment in 2017. But where do they get this idea?
Most of them just copy what others say without doing their own research. That’s not a good way to invest because you don’t know if the information is really true or not. If you want to invest, you should do your own research and make sure all information is correct.
There are many good cryptocurrencies that you can invest in 2017. But which one is the best cryptocurrency to invest in?
In my opinion, there are three things you should look at before investing in any cryptocurrency:
1. How much does it cost?
2. How easy is it to use?
3. How secure is it?
Bitcoin is the most popular cryptocurrency according to CoinMarketCap data. However, there are also other options to choose from. If you want to diversify your portfolio and invest in other digital coins, here are some of your options:
Ethereum is currently the second-largest cryptocurrency in the world by market cap. It is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship, or third-party interference. Being a blockchain means it is secure by design and is an example of a distributed computing system with high Byzantine fault tolerance. The downside is that performance issues arise in that every node is calculating all the smart contracts in real time, resulting in lower speeds. As of January 2016, the Ethereum protocol could process about 25 transactions per second. In comparison, the Visa payment platform processes 45,000 payments per second leading some to question the scalability of Ethereum. On 19 December 2016, Ethereum exceeded one million transactions in a single day for the first time.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million
If you want to invest in cryptocurrencies, Bitcoin is still a standard item of every portfolio – but it is no longer the onliest asset. In every well-balanced crypto-portfolio, there are also other cryptocurrencies like:
Ethereum, Ripple, Litecoin, EOS, Dash or NEO.
A portfolio with just Bitcoin is much less diversified and therefore carries more risk than one that also holds other cryptocurrencies.
Of course, it can be difficult to determine which cryptocurrency is worth investing in. After all, there are now close to 2000 different cryptocurrencies that can be traded online. The choice can be overwhelming.
However, looking at the market capitalization of each individual currency gives us a good starting point for narrowing down our choice:
Bitcoin (BTC) – $82 billion
Ethereum (ETH) – $17 billion
Ripple (XRP) – $10 billion
Bitcoin Cash (BCH) – $4 billion
Litecoin (LTC) – $2.8 billion
From the beginning, the Bitcoin network was designed to be decentralized. The only way to create new bitcoins is through a process called mining. Miners use computer hardware to solve complex mathematical problems, and when they solve them, they receive a block reward in the form of bitcoins.
The Bitcoin algorithm was designed so that the block reward would halve every 210,000 blocks (or roughly every 4 years). This means that if you put $1000 into buying Bitcoin in July 2016 (at $650 per coin), you would have been able to buy 1.538 Bitcoins. If you held onto those Bitcoins until today, your 1.538 Bitcoins would now be worth $8,651 each for a total of $13,997!
This is why many people are excited about investing in Bitcoin right now despite its high volatility and many concerns over its future. They believe that if they had purchased even a small amount of Bitcoin back in 2011 or 2012, they would have become millionaires today! This could have happened because no one knew what Bitcoin was back then and there were hardly any people mining it.
The best cryptocurrency to buy depends on your familiarity with digital assets and risk appetite. Even though the value of coins will increase, it is advisable to hold only what you can afford to lose.
As a newcomer to the industry, it makes sense to learn about well-established coins such as Bitcoin, Ethereum and Ripple. When you feel comfortable with the technology, you can start looking at other options in the market.
However, it is worth noting that there are over 5,000 cryptocurrencies in existence today, with new ones emerging daily. This makes it difficult for a single person to keep track of every coin available.
The best way to navigate this emerging market is by following the news. As cryptocurrencies gain popularity, more people will want to know what they are and how they work. With increased demand comes increased competition among platforms offering digital assets. This means that your favorite coins could go through significant changes within a short period.
I’m not the world’s greatest investor. In fact, I’m far from it. But I do know enough to tell you that cryptocurrency is not where you want to be putting your money.
Yes, this is an unpopular opinion. But it comes from a place of experience and learning from my mistakes.
Here are 5 reasons why you should steer clear of cryptocurrencies like Bitcoin and Ethereum:
1. Cryptocurrencies are volatile. Seriously volatile.
2. Cryptocurrencies are complicated. I mean, really complicated.
3. They’re unregulated. Which means they’re far more risky than traditional forms of investing like stocks or bonds or commodities or forex trading.
4. There are no dividends or interest payments either (unless you mine them yourself).
5. They’re prone to hacking and theft and fraud, just like anything else on the internet… so you need to keep your digital wallet safe!
The global cryptocurrency market cap is $208,354,245,137 and the 24 hour trading volume at this moment is $23,957,716,193. For those new to crypto, market capitalization (market cap) is calculated by multiplying the amount of circulating supply by the current price.
The top five cryptocurrencies by market capitalization are Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Tether (USDT), and Bitcoin Cash (BCH).
Bitcoin is currently worth $8,481 per coin and has a market cap of $154,526,858,976.