While the market for cryptocurrencies has failed to retain the momentum it had garnered towards the end of last year, it hardly means that these virtual tokens have lost all their value. In 2018, there have been certain coins that have continued to do quite well, lending themselves reasonably enough to the needs of investors. Just like traditional assets such as stocks, real estate or gold, the decision to make a crypto investment must be preceded by a great deal of thought and consideration. The nature of the investment is greatly dependent on the plans and characteristics of an investor. Questions like how much profit one is looking for and what time-frame one is considering must be addressed at the very outset of making an investment. In addition, the threshold of incurring and withstanding losses as well as the propensity of the investor to study and analyse market changes and/or predictions must also be taken into account. Having said that, provided all these considerations are taken into account, there are some crypto tokens one should definitely watch out for and probably even invest in, this year. Let’s have a look at the top 5 cryptocurrencies that fit the bill:-
1. Ripple (XRP)-Those who had invested in Ripple last year have made great profits and if this year’s low prices juxtaposed with high market capitalisation are anything to go by, a similar bright future awaits those who invest in Ripple this year. Since it has a market capitalisation of about $35 billion, one should definitely not write off Ripple, especially considering the token is powered by a blockchain network that is known completing transactions at a record speed, far surpassing that of Ethereum. Moreover, even industrial giants like JP Morgan, American Express and Saudi Arabia Central Bank make use of the Ripple technology, suggesting that this technology and its token has the potential to create waves rather than mere ripples in the crypto ocean.
2. Litecoin– Most people who are just on the brink of entering the crypto scene have heard of just Bitcoins when it comes to cryptocurrencies. Litecoin is a token greatly similar to Bitcoin, but just a lot better, be it in terms of technology, cost-effectiveness or speed. Litecoin finishes transactions in about two and a half minutes compared to ten minutes that Bitcoin takes. Last year, it even managed to make use of the Lightning Network, that helped it transfer a fraction of the token in just a second.
3. ZCash– Despite being a new entrant in the crypto market, they have already managed to undertake a very detailed and comprehensive plan of long-term growth and expansion. As of recently, Zcash had 21 million tokens being circulated with all transactions immutably recorded on a public blockchain. With clear records of all transactions made, ZCash makes it even easier for investors to track their decisions with this token.
4. Monero (XMR)– This token is also a new kid on the crypto block and what sets it apart from other cryptocurrencies is the fact that it is extremely private and secure, encrypted with a technology feature known as the ring signature.
5. NEO– The technology of the NEO token has at its core a system known as the Delegated Byzantine Fault Tolerant System and this helps to make the system more advanced and efficient. It also incorporates an advanced form of the proof of stake consensus model, making NEO a particularly impressive token to place your bets on.
Of course, the world of finance has ups and downs and no prediction can be absolutely certain. However, given these are some of the trending cryptocurrencies of the year, it may be worthwhile to invest in them.
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