Posted on : July 20, 2018
Intrigued by the phenomenal success of the most popular cryptocurrency, the Bitcoin, there has been a surge of interest from all around the world towards cryptocurrency trading. While Bitcoin, Litecoin and Ethereum are the most well-known cryptocurrencies, there are about 3000 new cryptocurrencies on the market.
However, cryptocurrency markets, like any other financial markets, are subject to volatility and it’s often difficult to decide where to invest your money. Also, you must start with an easy to use crypto currency exchange so that the process of buying Cryptocurrencies isn’t overwhelming.
A study conducted by Deloitte found that 92 percent of Blockchain projects released between 2015 and 2018 have failed. That being said, investing in the right cryptocurrency can be extremely profitable. We’ve put together a list of the most promising cryptocurrencies to watch in 2018 so that you can decide for yourself.
One of the strongest competitors to Bitcoin’s success in the early days, Ethereum, ranks high as one of the best performing cryptocurrencies of 2018. Known as Vitalik Buterin’s brainchild, Ethereum grew over 3,000% last year and is expected to stay strong this year as well. Its standard protocol is also set to change from Proof of Work to Proof of Stake, giving it even more room to scale. This makes it one of the safest cryptocurrencies to invest in.
Bitcoin is considered as the posterchild of cryptocurrency trading, thanks to its incredible and sudden growth. The cryptocurrency witnessed a growth of twenty times in 2017 and the cap has pushed up to around $325 billion, which implies that it is capable of generating even more wealth than any other cryptocurrency on the market. While the price may have plunged slightly recently, it is still the best cryptocurrency to invest in right now, especially if you’re looking to make a big investment. 2018 could be the last chance for you to invest in this cryptocurrency giant as prices are set to take a big leap.
LiteCoin emerges as the next best cryptocurrency to invest in 2018. It offers an experience similar to Bitcoin, sans the steep price. The best part about LiteCoin is that it continuously builds on the technology of Bitcoin to provide a pretty great experience. It has very fast transaction speed, up to four times faster than Bitcoin. In 2017, this cryptocurrency accomplished a Lightning Network transaction, transferring a fraction of a LiteCoin in just one second.
Being completely untraceable and anonymous, this cryptocurrency has won the hearts of citizen privacy advocates. Since its establishment, Monero has seen an upward rise of more than 1300 percent, thus making it one of the most promising cryptocurrencies to watch in 2018. Its ring signature technology has made it one of the most private and secure methods of transaction, so much so that the company has offered one million dollars to anyone who can hack into the system.
Ripple might seem an odd choice for this list considering its present low prices. But Ripple still has a lot going for it. This is primarily because Ripple is not just a digital currency, but also a means of payment. It is accepted by many established institutions including JP Morgan, MIT, American Express and Saudi Arabia Central Bank. It’s a pioneer in blockchain technology and fast transaction speed. It has a total market capitalization of $35 billion which makes it quite appealing to potential investors.
Short for Digital Cash, Dash is an altcoin, started in 2015, and has enjoyed a big wave of success. Their market capitalization stands at $4.8 billion despite being just three years old. They regularly handle $100 million worth of transactions per day. This is the reason why this digital currency has been tipped to be one of the safest cryptocurrencies to invest in.
Blockchain technology and innovativeness are synonymous with this high tech digital currency. Founded and headed by Da Hongei, NEO has witnessed considerable success, thanks in part to the sophisticated Delegated Byzantine Fault Tolerant system that it runs on. It also houses improved proof of stake technology which makes it an attractive and upcoming investment opportunity, with the potential to give big returns in the future.
While being a new player to the cryptocurrency market, Zcash has taken some pretty long strides since its inception. With an innovative Zooko Wilcox-O’Hearn CEO at its realm, Zcash constantly outlines its impressive long term plans which attract potential investors. With 21 million coins in circulation and a system that enables every transaction to be published on public blockchain or kept anonymous, Zcash could go on to be one of the strongest digital currencies in the future.
Cryptocurrency is definitely one of the biggest and safest investment opportunities with huge returns in a relatively short period of time. While this has attracted investors from all over the world, some prior knowledge is needed to play the right cards when dealing with the high risk, high volatility cryptocurrency market. Digital Ticks is one such exchange which is built with an aim of making crypto trading easier for traders whether novice or professional.
As with any other financial investment, it’s important to thoroughly examine the market before trusting it with your money. Our list of promising cryptocurrencies to watch in 2018 not just examines the present digital currency market but also tries to gain an insight into what the future may look like.