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The current state of cryptocurrency markets
It all started with Bitcoin in 2009. Litecoin and Ethereum quickly joined and fiercely competed with Bitcoin for a share of the market population. In about nine years, we’ve had several cryptocurrencies come on board but none has enjoyed the surge Bitcoin enjoyed in 2017. The price increased by almost 4,000 percent, bringing its market capitalization to about 450 billion dollars.
We have also had about 3,000 new crypto coins in the market with each of them claiming that they’re the next best thing after Bitcoin. Unfortunately, many of these coins go extinct before they even launch. In fact, a study carried out by Deloitte showed that 92 percent of Blockchain projects which were launched between 2015 and now failed. This makes it important to carefully consider what cryptocurrency to invest in before putting your money.
Ripple (XRP)
Believe it or not, Ripple is on to great things. Those who invested at the beginning of 2017 are certainly smiling to the bank as we speak, however, that’s not where it ends. Ripple is still arguably the best cryptocurrency to invest in 2018. It will be unwise to discard Ripple because of its low price at the moment. In fact, this low price should make it attractive to long-term investors.
When you consider the fact that Ripple has a total market capitalization of about $35 bln, you realize that it has a lot of potential. This potential is largely attributed to the fact that Ripple, apart from being a digital currency, is a means of making payment. Not only are the transactions secured via Blockchain technology, they are also completed in record time, beating Ethereum to its game.
One more thing about Ripple, some of the largest financial institutions in the world make use of Ripple for their business. JP Morgan, American Express, China LianLian International, and even the Saudi Arabia Central Bank all use Ripple technology. Ripple is your answer if you have questions like, “What cryptocurrency should I invest in 2018?”
Ethereum (ETH)
Let’s track Ethereum’s growth in the last one year. In 2017 alone, the price of Ethereum skyrocketed by almost 3,000 percent, a move which saw it become firmly entrenched as one of the best cryptocurrency to invest in.
Towards the end of 2017, the price of ETH hovered around $720 and the market capitalization was put at $70 bln. Right now, it has almost doubled in price and the market capitalization saw a similar astronomical increase. Ethereum is practically calling out to you to make that investment, will you heed the call?
Bitcoin (BTC)
We cannot discuss the best cryptocurrency to invest in without mentioning Bitcoin, it’s a sin. Even though the price has plunged in recent times, it has managed to still remain one of the forces to reckon with in the crypto world.
Many people are of the opinion that the first remains the best and this will cause Bitcoin to remain relevant for a long time. Others who are not as excited about Bitcoin will just go ahead and discredit the currency. You should, however, note that you need heavy backing in terms of funds in order to enjoy any appreciable gain when you trade Bitcoins.
Litecoin (LTC)
What’s the best cryptocurrency to invest in which will give you a Bitcoin-like experience minus the exorbitant cost? Litecoin! What is it about Litecoin? Well, like Bitcoin, it also saw an increase from $4 to $358 in 2017. In a similar fashion, 2018 saw it crash to almost $100, but the coin persists.
One reason for its worldwide adoption is that Litecoin constantly betters the technology of Bitcoin. If Bitcoin completes a transaction in 10 minutes, Litecoin will do it in two minutes, 30 seconds. The cap of Bitcoin is fixed at 21 mln, Litecoin has its maximum at 84 mln. They have also advanced on to greater achievements. In 2017, this currency completed a Lightning Network transaction, transferring a fraction of a Litecoin in one second.
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