Everything in the digital currency world is moving quickly. In the course of recent few years, Bitcoin outperformed some other investments like gold, commodities exchange or real-estate. In just three years, several hundreds of new digital currencies were put on the market. The greater part of them are simply duplicates of existing cryptocurrencies or just have a small number of features that make them different.
Just a handful of these digital currencies is genuine, with a good perspective and unique features.
If we could go back in time, probably one of the best investments would be buying Bitcoins in 2011, for under a dollar. The current price of the Bitcoin is over 2500 US dollars. And we wouldn't have to wait for so long to sell either - in November of 2013 Bitcoin went over 1000 dollars. With a 1000-dollar investment in 2011, one could become a millionaire just two years later.
Unfortunately, we cannot go back in time, but we can make some smart investments now. Below is a list of the coins we believe to be a worthy investment as of June of 2017.
Getting crypto can be pretty confusing at times. The easiest way is to buy them with Bitcoin on a crypto-exchange. If you don’t own Bitcoin, CEX.IO and coinbase are the most reliable options. On CEX, you buy a small amount of Bitcoin with Creditcard, Bank Transfer and cryptocapital. Both websites offer the some of the most popular payment methods in various regions.
Once you own some Bitcoin, you can transfer them to a great variety of cryptocurrency exchanges like Yobit, Kraken en Poloniex. Once you’ve deposited the Bitcoin to the crypto exchange, you can exchange them for all sorts of cryptocurrencies freely.
Bitcoin has proven a store of value over the past few years, and it is currently trading at 2500 US dollars today. The price does vary a lot, but it outperformed all the other investments by a mile.
Bitcoin has the network effect, and most people present in the digital world have heard of it.
Over the past couple of years, Bitcoin got a lot of venture capital money, so we expect to see some interesting apps and project coming to the market in 2017. Also, these projects will drive wider public adoption which would push the price up. In April, Japan gave Bitcoin the status of legal currency. As a result, all major retailers in the country started accepting Bitcoins as the payment method.
Bitcoin's cost in January was around 1000 US dollars. From then till now the price went up over 150 percent. We can only guess how far it can go. One thing is certain - there's a lot of money invested in Bitcoin, so it won't be going anywhere soon.
Current Market Cap: $40,560,470,453
Price: $2510 US
Numerous altcoin communities have credited Digibyte for having a team of very adept developers, which truly work in the best interests of its community. These developers remained silent for the most of the time, but are obviously working very hard to improve their cryptocurrency and support its users.
Last year, Digibyte revealed their plans to update the community on ‘new, interesting developments’ through Twitter. This led to a massive chain of retweets through the community. Subsequently, a significant buying frenzy began on the trading platforms, causing its value to rise from 35 Satoshis to 80 Satoshis.
After that, Digibyte partnered with some of the most popular online games including World of Warcraft, Counter Strike - Global Offensive, and League of Legends. The move that made the market go crazy was Digibyte's announcement of the partnership with Minecraft.
The price went overnight from 100 Satoshis to over 900 Satoshis. Currently, the price is stable at 700 Satoshis. The future is bright for Digibyte, as it already has numerous investors and even should have a presentation for Microsoft in June.
Current Market Cap: $131,327,431
Price: $0.016199 US
Ethereum is a true outlier. Its platform allows creating smart contract that runs on a decentralized network. The team behind Ethereum is really exceptional, and they are doing an amazing job to show the real potential of the Ethereum.
Besides the team, the degree of adoption of Ethereum at the moment is phenomenal. Many developers are working on apps that use the potential of smart contracts, and if one cryptocurrency can make it big, it's Ethereum. If already went over 1000 percent over the course of few months and it could go 1000 percent more over the next few month. That much potential has this cryptocurrency.
Ethereum is the only crypto-currency believed by experts to be able to overtake Bitcoin Market cap in the near future.
Current Market Cap: $17,150,315,776
Price: $186.55 US
After lots of hype, many people got burned when the Zcash was launched. Unrealistic expectations and misunderstanding of the technology lead to the price of Zcash coins getting higher than the Bitcoin immediately after launch. A massive crash followed which caused some people to lose a lot of money.
But the potential of Zerocoin technology is great. This is probably the best privacy tech for Blockchains, and there is a big demand for enhanced privacy in cryptocurrency.
Zcash recently partnered with JP Morgan bank, which caused the price to spike. As the need for completely anonymous digital currency grows, Zcash becomes an attractive investment in 2017.
Current Market Cap: $328,695,237
Price: $237.56 US
The Banking system is trying to sort out what appearance of a decentralized cryptocurrency (Bitcoin) did to them. Ripple pivoted into the banking market and recently closed deals with many important banks and institutions.
Ripple recently spiked over 500 percent, and if the banks continue with its adoption, the price could skyrocket.
Of course, the banking system would rather deal with a stable digital currency instead of one that fluctuates a lot, so that may be a problem for Ripple.
Current Market Cap: $12,162,179,426
Price: $0.317971 US
Investing in digital currencies can be a bumpy journey sometimes, so don’t invest what you can’t afford to lose.
Choosing the right digital coin to invest in depends on the desires of the buyer as well. If you are looking for safety, buy some amount of each cryptocurrency. On the other hand, if you're looking for a big win, then make your bet. Who knows, you just may wake up one day as a millionaire.
The digital currencies listed above have a lot of potentials, and many traders find them attractive.