Investing in crypto has always been a gamble. The past few weeks have been a little rough, especially with the recent Bitcoin Meltdown, regulators around the world becoming more strict when it comes to cryptos.
However, this has not stopped the blockchain revolution that is slowly changing the world around us.
Undoubtedly the world’s largest smart contract platform. Many ICOs are launched through this network and it has shown no signs of stopping anytime soon. The value is projected to grow exponentially in the years to come as its blockchain becomes more decentralized, making it less vulnerable to attacks.
Ethereum saw an incredible rise in value this year. This in turn made graphics cards completely unavailable for weeks or months at a time. This did not stop the people who needed them, sometimes paying double or triple the price.
Known as being one of the fastest cryptocurrencies available right now, Ripple is also well-known for being centralized. This makes it easier to handle requests because every transaction must pass through their network.
Ripple has been extremely active lately by teaming up with many companies to make cross-border payments more efficient. It’s rumored that they could launch a new product this year which could create a lot of hype.
If you have been involved in the blockchain industry, you probably heard how big this one is going to become sooner rather than later. To be very brief about it, IOTA is designed for IoT devices and has zero transaction fees which make micro-transactions more possible than ever before.
IOTA has been getting a lot of hype lately and its price is largely influenced by it. However, since it’s still very new, there are many who question how it works and whether or not the technology behind IOTA is sound. Only time will tell if this one truly lives up to the expectations set for it.
Initially created as a joke, Dogecoin’s crowd is something of an anomaly. This cryptocurrency has a large number of followers and they are incredibly passionate about their digital currency.
Just this year, the developers implemented a protocol allowing the network to process many transactions at once without affecting speeds or fees. They also introduced time-saving technologies that will allow the currency to reach a much wider audience in the coming years.
Tether could easily be considered a stable coin, meaning it is very unlikely its value will fluctuate any time soon. This digital currency is pegged to the US dollar, so one Tether dollar equals $1 USD. The concept of this coin was to make it a digital version of the greenback.
Many users purchase Tether to speculate on the price going up, and this keeps Tether’s market cap afloat. However, many people think that this coin isn’t as transparent as some may like it to be. The company behind Tether has been criticized for not being able to audit its reserves.
Conclusion on Where To Invest
The market is still very young and volatile. As it matures, we will begin to see more of the projects with real-life use cases dominating the rankings. Right now, any crypto can make it big if there’s enough hype behind it.
As with anything else in life, try not to invest more than you are willing to lose. Happy trading!
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