Monday, January 22, 2018

Top 10 Cryptocurrencies

 

The financial world is changing and a big game changer is cryptocurrencies. Imagine sending money to a friend on the other side of the world in less than 5 seconds, where using a bank would take you about three to five days. The implications of blockchain technology for global commerce is tremendous.

Not only do cryptocurrencies enable fast money transfers but many cryptocurrencies have yielded exponential price growth that has surpassed the wildest expectations.

A good example is bitcoin that has grown more than 670,000,000 percent since the first bitcoin purchase was done in 2010 (2 pizzas for 10,000 bitcoin). Back then, the price was $0.003 per bitcoin and the price has recently hit $20,150.

Let’s get down to business and see which cryptocurrencies offer the best potential for investment purposes:

1. Ripple (XRP)

This is our big favourite crypto for 2018! At this very moment, ripple is ripping higher at an incredible speed. Take a look at this daily ripple chart by eToro, an excellent crypto (and social) broker:

Ripple Daily Chart, Top 10 cryptocurrencies

Ripple Daily Chart (By eToro)

 

In December 2017, ripple gained over 800 percent. Over this same period, other major cryptocurrencies have not nearly performed this well. Bitcoin (BTC) gained about 41%, ether (ETH) 52%, litecoin (LTC) 156%, dash (DASH) 30%, and bitcoin cash (BCH) 67%.

Not only did ripple perform really well in December 2017, it also had a magnificent 2017 so far with a gain of more than 34,000 percent. (Jan 2017 to Dec 2017). During the same time, bitcoin only achieved a return of about 1260 percent. That’s a big difference!

This major price increase has made ripple the second largest cryptocurrency by market capitalization (after bitcoin).

Relatively speaking, ripple is really strong when compared to other major cryptocurrencies. While all of the other cryptos mentioned above are currently experiencing price retracements, ripple is powering to new all-time highs.

Other positive aspects of ripple, include its incredibly fast and cheap transactions. The Ripple network is also much more stable and reliable than Bitcoin and boasts immaculate scalability. With Ripple, there are no transaction bottlenecks or delays in settling transactions.

Ripple was created to enable banks and other financial institutions to perform real-time global payments and to supply the on-demand liquidity which is required to accomplish this.

An important consideration for investing in ripple is its remarkable utility in the banking industry which could have a positive effect on its price for a considerable time to come.

For more information about ripple and why it has so much potential, take a look at ‘Best Cryptocurrency to Invest in 2018’.

 

2. Litecoin (LTC)

Litecoin is a solid cryptocurrency which has grown almost 5000 percent in 2017. The following points make litecoin a good investment option:

Litecoin was founded in 2011 and has been doing well ever since. Its price is trading at about $209 and its market capitalization is about $11,900,000,000 which makes it the sixth largest crypto by market capitalization.

Litecoin transaction processing speed is much faster than bitcoin in terms of transaction processing speed and its network is geared for high scalability. Although litecoin is slower than ripple, it also doesn’t have any bottleneck problems with transaction processing.

Litecoin can easily be integrated into systems using bitcoin because it is compatible with bitcoin’s API. This greatly adds to litecoin’s popularity as a solid and convenient alternative to bitcoin.

The world is using litecoin more and more, especially the East. Two major crypto exchanges in Hong Kong and South Korea are incorporating litecoin into their offering in 2018 and more merchants around the world are starting to accept litecoin payments.

Dragon boat Hong Kong

Hong Kong is expected to buy more litecoin in 2018.

 

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3. NEO

Of all the cryptocurrencies mentioned in this article, the China-based NEO has performed the best over the last 12 months with an astounding 50,458 percent increase.

NEO is often compared to ether and the Ethereum network but it is actually much more advanced than Ethereum. While both networks facilitate smart contracts, NEO’s are much more secure, scalable, and easier to use.

To keep it simple, let’s just say that NEO is faster, smarter, and more versatile than the Ethereum network. It is also easier for developers to work with NEO than with Ethereum because NEO supports several programming languages while Ethereum only works with Solidity.

NEO is currently ranked as the 13th largest crypto by market capitalization and is priced at about $71. Keep an eye on this superior cryptocurrency!

 

4. Dash

Dash gained a respectable 8760 percent in 2017 alone. It is currently trading at $1034 and is the 9th largest crypto by market capitalization. Technical analysis of dash price charts suggests a further rise in this phenomenal asset.

Besides the powerful bull trend in play, other reasons to invest in dash include that dash is faster and cheaper than bitcoin and that more and more merchants are beginning to accept dash payments nowadays. Dash has proven itself to be a good runner. Let’s see what it will produce in 2018!

 

5. Cardano

Since trading started on cardano early in October 2017, it has gained a massive 3078 percent (in three months). At the moment, this extremely young coin is the fifth largest crypto in terms of market capitalization, with an incredible $17,700,000,000!

Unlike many of its larger peers, cardano is currently setting new all-time highs. Cardano’s technical and fundamental analysis both point to continued aggressive gains in the near future.

Pole Vault

Cardano is setting new all-time price highs.

 

6. Ether/Ethereum (ETH)

Ether (Ethereum) has grown more than 8600 percent in 2017 and is currently trading at $699. The Ethereum network has more utility than Bitcoin’s and boasts faster transaction settlement.

Concerning investment value, ether (ethereum) seems to have more potential than bitcoin. It offers high trading volume and a large market capitalization (ether is currently the third-largest crypto in terms of market capitalization).

Learn how to trade ether right here.

 

7. Bitcoin (BTC)

Although bitcoin isn’t our number one crypto to invest in right now, it certainly shouldn’t be ignored. Bitcoin’s great advantage is that it is really well-known, even among people who don’t know much about cryptocurrencies. Many newcomers to the crypto market start their adventure by purchasing bitcoin, the great big brother of all cryptocurrencies.

Get more in-depth bitcoin information here.

Bitcoin is still the number one crypto, not only in terms of market capitalization ($217,300,000,000) but also price-wise ($13,030). Bitcoin’s trading volume is also at least double the amount of any other crypto at the moment.

Besides these points, bitcoin is accepted by thousands of companies and merchants around the world and is a tradable futures instrument.

How can bitcoin be traded?

Lastly, bitcoin’s limited supply of 21,000,000 units is an important factor which is expected to encourage price growth for many years to come.

 

8. NEM (XEM)

Ranked at the 8th largest crypto by market capitalization, NEM is one of the big boys. At a low price of about $0.93, it sounds like a big mistake to say that NEM gained more than $27,600 percent in 2017 alone.

NEM is much more efficient than bitcoin, has more uses than many cryptocurrencies, including bitcoin, and can be accessed by programmers who are not necessarily professionals in the crypto arena.

NEM is still extremely bullish and its technicals suggest that much more upside is to come.

Bison Bull

NEM is extremely bullish and further price gains can be expected.

 

9. Stellar (XLM, Stellar Lumens)

Stellar lumens performed really well in 2017, with a gain of almost 12,800 percent. Stellar is the 10th largest crypto at the moment (by market capitalization) and, like ripple, is able to significantly accelerate cross-border payments.

Stellar has already signed up some big clients like IBM which will benefit from quicker and cheaper international payments. XLM has already performed exceptionally well and is expected to continue doing so, especially if the Stellar system is going to be used by more institutional players to optimise their payments.

 

10. OmiseGo (OMG)

OmiseGo is an Ethereum-based system or payment channel through which consumers can pay merchants in many different fiat and cryptocurrencies. The merchant receives the payments in its preferred currency and doesn’t even know with which currency its clients pay. OmiseGo is currently partnering with McDonald’s in Thailand to streamline its payment processes.

The OmiseGo project aims to make cheap and easily accessible payments possible for people who don’t have credit or debit cards, especially in Southeast Asia.

The OMG token’s value has risen aggressively since mid-2017 and gained more than 3000 percent. This crypto is in a strong bull-trend and the odds are great for turning pennies into pounds with it.

 

Conclusion

The cryptocurrency market is volatile and full of opportunities. Huge amounts of capital are pouring into this asset class every day which is sustaining the overall long-term bullish momentum.

People who would like to invest in cryptocurrencies have a great opportunity to make massive returns but should exercise proper risk management in order to preserve their capital.

To get started with crypto trading today, take a look at these top cryptocurrency brokers. Investing in cryptocurrencies is really exciting! Become a partaker in the crypto market today.

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